Business Loan

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Business Loan Overview

Business loan

It’s a great way to secure your finance and increase working capital and ensure that the business does not get affected due to lack of funds.

Scale of Business

Our Business Loan is designed to serve any size of business. We have Business Loan for women, entrepreneurs and aspiring business owners.

Secured Business loan

The borrower pledges an asset against the debt. If the debt is not repaid, then the lender may claim the secured asset.

Unsecured business loan

Unsecured loans do not have collateral, though the lender will have a general claim on the borrower’s assets if repayment is not made.

Benefits & Features

No guarantors, No collateral

You don't need to provide any guarantors or give any collateral to avail our Business Loans, even when you apply online. Our Business Loan terms and conditions are transparent, no hidden clauses.

Loan up to Rs.25 Lakh

You can apply for a Business Loan online from Nitstone Finserv up to Rs.25 lakh and repay it at your ease by opting for tenures ranging from 24 months to 60 months.You can also use the Business Loan EMI calculator to know how much EMI you will have to pay for your Business Loan.

Pre-approved Offers

As an existing customer of Nitstone Finserv, you will be eligible to get exclusive pre-approved offers for Business Loan from us.

Online Account Access

Once you’ve availed a Business Loan from Nitstone Finserv, you can get all information about your Business Loan like payment schedule, interest certificate, repayment track and key information related to your loans through our digital customer portal.

Eligibility & Documents

You’re eligible for a Business Loan from Nitstone Finserv if you’re either of the following:

  • Limited or Private Limited Company
  • Partnership or Proprietorship Firm
  • Chartered Accountant / Self Employed Professional

Here’s a list of the Business Loan customer profiles that we consider:

  • Self Employed Professionals (SEP) - Allopathic doctors, chartered accountants, company secretaries and architects who are practicing their profession. Proof of qualification to be documented.
  • Self Employed Non Professionals (SENP) - Traders and manufacturers.
  • Entities - Partnerships, Limited Liability Partnership, Private Limited and closely held Limited companies.
  • Other constitution types depending on their profile on a case to case basis.

Documents required for Business Loan:

  • Application form
  • 1 Photograph of Co-Applicant
  • Income Details: IT returns, Balance sheet & P/L account statement for the last 2 years with Annexure, Form 16 A
  • Bank account statements for the last 3 months
  • KYC documents of Co-applicant
  • Business vintage for 5 years

Ready to Apply

Apply Now

How to Apply

Step 1

Click on Apply to go to our online form. Fill in detail and submit the form.

Step 2

Get an instant approval. Select your required loan amount and tenure.

Step 3

Our representative will get in touch to collect your documents.

Step 4

Amount will be credited to your account.

Fees & Charges

Charges applicable  
Rate of Interest 16% – 21%
Processing fees 2% of the loan amount will be deducted at the time of disbursal of approved loan amount
EMI bounce charges Rs.1000 will be charged in the subsequent month for every bounce
Penal interest 2.00% p.m. overdue charges will be levied basis 360 days per year

Foreclosure Charges

Borrower Type: Interest Type Time Period (Months) Foreclosure charges
NA >1 4% plus applicable taxes on principal outstanding *

* Foreclosure: charges will be applicable on the current principal outstanding.  
* Foreclosure charges for line of credit and Flexi loans will be calculated on the Current principal outstanding. 

Part prepayment charges

Borrower Type: Interest Type Time Period (Months) Part payment charges
NA >1 2% plus applicable taxes on part payment amount paid

* Part payment made should be more than 1 EMI  
* Nil part payment charges for flexi

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