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Business Loan

  • Loan amount from Rs 3 Lakhs to Rs 75 Lakhs
  • Loan Tenures from 1 to 5 years
  • Facility to top-up existing loans
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Business Loan Features & Benefits

A Business Loan or Commercial Loan from IDFC FIRST Bank can help you set up or expand your business. We understand that business finance is essential for existing firms in different phases of expansion, and thus we make procuring a business loan in India easy and simple. Our flexible business finance offerings come with terms that scale up to your needs. Here are some key features

Loans for all types of businesses

Our business and commercial loans support businesses with big and small requirements. Borrow from Rs 3 Lakh to Rs 75 Lakhs. No security or collateral is required for obtaining a business loan.

Flexible Tenures

Our flexible tenures on loans make repayment easy; you can choose your loan tenure for any period between 1 and 5 years*.

*Subject to conditions

Easy Application

We provide door-to-door service so that you can submit your application from the comfort of your office or home. IDFC FIRST Bank business loans are available across 50 cities in India.

Borrow more if you need

You can borrow more money by using the top-up facility available for existing borrowers.

Business Loan Eligibility Criteria

IDFC FIRST Bank provides unsecured business loans to a wide variety of small, medium and large enterprises, and professionals. We also provide top-up facilities for existing business loan customers who may require more credit at a later date.

Use our business loan eligibility calculator to find the amount of unsecured business loans you are eligible for. You must also meet the following conditions to fulfil our business loan eligibility:

  • 1. IDFC FIRST Bank provides business loans to-
    • a. Sole proprietorship firms
    • b. Private limited companies and closely held limited companies
    • c. Partnership firms
    • d. Self-employed individuals / professionals - CAs, Doctors, etc.
    • e. Retailers
    • f. Manufacturers
    • g. Traders
  • 2. The business must have been in existence for a minimum period of 3 years
  • 3. The company’s turnover should be more than Rs 1 Crore
  • 4. The company’s profit after tax (PAT) for the last two years should be positive
  • 5. Minimum Age: 28 years; Maximum Age: 68 years, at loan maturity
  • 6. Good credit rating score in credit bureau

*Eligibility may vary as per scheme chosen

Business Loan EMI Calculator

Get a business loan and take your company to the next level. Using IDFC FIRST Bank’s business loan calculator, you will be able to get a clear picture of how your business loan interest rate affects your monthly outgo. IDFC FIRST Bank’s business loan emi calculator is really simple to use. Just input the amount of loan you desire, the tenure and the interest rate, and you will have a clear picture of the EMIs you have to pay every month in order to expand your business.

 

Loan Amount

Interest Rate (In Percentage)

Tenure(In Months)

Your EMI

0

 

Apply for Business Loan

Application for fast
business loans

Are you wondering how to get a business loan? Our business loans are easy to secure. Just fill in our online application form and you are done in a few minutes!

Document Submission

Our relationship manager will come to your premises to collect the documents for quick business loans.

Verification

After the collection of documents, we verify your business loan application; this may involve a personal discussion with you.

Get funds for your business

We provide quick business loans after we have completed the verification. The business loan application process finishes with disbursal, which is made directly to your bank account.

Documents Required for Business Loan

IDFC FIRST Bank business loan documents are easy to obtain. We recommend that you put together your documents before you apply so that the application can be processed faster. We provide a business loan document checklist for your convenience, but please keep in mind that additional paperwork may be required.

Please review the business loan document checklist here:

Photo Identity Proof ( Self-attested copy of any one document* )

  • Passport
  • Pan Card
  • Voter Identity Card
  • Driving License
  • Aadhaar Card

Address Proof ( Self-attested copy of any one document* )

  • Ration Card
  • Passport
  • Bank Account Statement
  • Aadhaar Card
  • Driving License
  • Electricity Bill
  • Telephone Bill
  • Sale Deed/ Property Purchase Agreement (for owned properties)

Income Proof ( Self-attested copy of relevant documents* )

  • Latest ITR
  • Latest Audited Financials
  • Last 6 Months’ Bank Statement

Business Proof ( Self-attested copy of relevant documents* )

  • Qualification Certificate/Certificate of Practice (COP)
  • Shop Act License/ MOA & AOA/ Sales Tax/ Vat registration/ Partnership Deed

*Requirement of business loan documents might vary according to the scheme chosen.

You are in good company

Our customers just love us..

Very prompt service at a very reasonable rate. This loan has helped me to complete my project on time as I received the amount quickly with less paperwork

ZAFAR A. KHAN
Hyderabad

I wish to acknowledge that when I was approached by the Officials of IDFC FIRST Bank to avail a loan and during the process of the personal interview I felt very comfortable. The officials were very professional and customer friendly in their approach and swift in executing the loan. The Loan was credited to my account on time.

Godwin Jebakumar
Bangalore

Appreciate the way our loan has been handled and expedited hassle free.

Sumit Bhasin
Delhi

Questions? We are happy to help you

About Business Loans

1. What is a Business Loan?

A business loan, also known as a commercial loan, is useful for expanding your business. IDFC FIRST Bank extends this loan to existing firms and companies to help them through various phases of expansion. We provide business loans to a wide variety of businesses ranging from sole proprietors to traders. You can avail loans ranging from Rs. 3 lakh to Rs. 75 lakh with flexible tenures ranging between 1 and 5 years*.
*Subject to conditions

2. Why should you take a business loan?

A business loan can provide the capital for expansion of business or for meeting short or long term financial needs. Different phases of your business – the initial phase or growth phase – requires you to have the requisite financial wherewithal to maintain the growth momentum. IDFC FIRST Bank Business Loan helps you meet your credit needs for the present and the future. What’s more, with IDFC FIRST Bank, there is no need to arrange for any collateral or security to obtain credit.

3. Do I need to provide any security or collateral to apply for a business loan?

IDFC FIRST Bank provides unsecured business loans without any collateral. There is also no need for any co-signee or guarantor either. We provide you with business loans without security so that you can get easy access to credit for your business expansion needs.

4. How long does it take to get a business loan?

We can provide you with a business loan within 72 hours after you submit the necessary documents. Our business loan application process is simple and straightforward. We provide you door-to-door service so that you can apply from your home or office. IDFC FIRST Bank Business Loans are available across 50 cities in India. Just start by filling our online application form and we will send a relationship manager to collect the necessary documents.

5. Will I have to visit a IDFC FIRST Bank branch to get a business loan?

You don’t need to visit our branch; we provide door-to-door service for our business loan customers. Simply begin by filling the online application form available on our website; it can be completed in minutes. Alternatively, you can also apply using our mobile application that can be downloaded from Google Play or Apple App Store. We will send our representative to collect the necessary documentation from your home or office. We process your application within 72 hours of receiving all your documents.

6. How can I check the status of my business loan application?

After you apply for a business loan from IDFC FIRST Bank, you can check the status of your application by visiting our website or downloading our mobile app from the Google Play or Apple App store. If you have any questions regarding your application status, you can also contact our customer care at 1860-500-9900 or write to us at customer.care@idfcfirstbank.com.

Eligibility

7. Who can apply for a IDFC FIRST Bank Business Loan?

We service the needs of a wide variety of businesses, irrespective of size of the business, as we understand that every business needs capital for expansion. We also provide top-up loans on existing business loans in case the borrower needs more credit. The following applicants meet our business loan eligibility:
  • Retailers
  • Manufacturers
  • Traders
  • Chartered Accountants, Doctors and Professionals

8. What type of businesses qualify for a business loan?

At IDFC FIRST Bank, we understand your need for funds to expand your business, whether you are small, medium or a large enterprise. We also extend business loans to professionals. Entities eligible for the IDFC FIRST Bank Business Loan are:
  • Sole proprietorship firms
  • Private limited companies and closely held limited companies
  • Partnership firms
  • Self-employed individuals / professionals – Chartered Accountants, Doctors, etc.
  • Retailers
  • Manufacturers
  • Traders

9. What are the conditions to secure a IDFC FIRST Bank Business loan?

You must meet the following conditions to be eligible for a IDFC FIRST Bank Business Loan:
  • Your business must have been in existence for a minimum of 3 years
  • The turnover of the business should be more than Rs. 1 crore
  • Your company’s profit after tax (PAT) for the last two years should be positive
  • Minimum Age: 28 years; Maximum Age: 68 years, at loan maturity
  • Good credit rating score in credit bureau
*Eligibility may vary as per scheme chosen

Cost

10. Is the interest on my IDFC FIRST Bank business loan flat or reducing?

We levy the reducing interest rate on our business loans. You will only need to pay interest on the outstanding principal amount.

11. What are the foreclosure charges that are applicable on my business loan?

There is a lock-in period of 6 months. Post 6 months, if you foreclose your account, we will charge foreclosure charges of 5% on the principal outstanding amount. If you would like to know more about foreclosure charges, please feel free to contact our customer care at 1860-500-9900 or write to us at customer.care@idfcfirstbank.com.

12. Can I cancel my application after my loan has been approved? Are there any charges for the same?

Yes, you can cancel your application after you apply for a business loan. There are no charges for cancelling an approved loan application. However, we would deeply regret the loss of your patronage. Please call us at 1860-500-9900 or write to us at customer.care@idfcfirstbank.com and we will help you with processing your cancellation request.

Benefits

13. Are there any benefits of taking a Business Loan from IDFC FIRST Bank?

You get several benefits while taking a business loan from IDFC FIRST Bank, some of which are:
  • Easy Application: You can leave your details on our website or mobile application.
  • Convenience: We will arrange for the documents to be picked up from your home or office.
  • Expedited processing: IDFC FIRST Bank processes your loan application in 72 hours after document submission.
  • Flexibility: We give business loans ranging from as little as Rs. 3 lakh to a maximum of Rs. 75 lakh.
  • Inclusiveness: IDFC FIRST Bank gives loans to small, medium and large enterprises. We meet the needs of sole proprietors, partnerships, retailers, manufacturers, private limited companies and even professionals.
  • Easier Repayment: Our loan tenures range from 12 to 60 months, making repayment easier.
  • No need for collateral: Our business loans without security remove the need to put forward a collateral.

Loan Parameters

14. What documents will I require to secure a business loan?

IDFC FIRST Bank has simplified the process of securing a business loan. We will even send our representative to your home or office at your convenience so that you can submit the necessary documents.
Please provide a self-attested copy of any one document from each category, from the list given below:
  • Photo Identity Proof: Passport, PAN Card, Voter’s Identity Card, Driving License, Aadhaar Card
  • Address Proof: Ration Card, Passport, Driving License, Bank A/C Statement, Electricity/Telephone Bill, Aadhaar Card, Sale Deed/ Property Purchase Agreement (For Owned Properties)
  • Income Proof: Latest ITR, Latest Audited Financials, Last 6 Months’ Bank Statement
  • Business Proof: Qualification Certificate/Certificate Of Practice (COP), Shop Act License/ MOA, AOA/ Sales Tax/ Vat Registration/ Partnership Deed
*Please note that requirement of business loan documents might vary according to the scheme chosen.

15. What is the maximum loan I can get for my business?

You can get a maximum of Rs. 75 lakh as a business loan from IDFC FIRST Bank. We service requirements of all types of businesses, whether large or small, and you can get a loan amount from Rs. 3 lakh up to the maximum limit.

16. What is the tenure for which I can apply for a business loan?

At IDFC FIRST Bank, we know that loan repayment should be structured according to payment ability of our clients. That is why we offer flexible tenures so that the EMI is always affordable and serves your needs instead of being a burden. You can choose loan tenure between 12 and 60 months when you take a IDFC FIRST Bank Business Loan.

17. How can I know what my EMI amount is?

You can easily find out your EMI amount by using our business loan EMI calculator. You just need to enter details of your loan amount, business loan interest rate and click on the ‘Calculate’ button and we will let you know your EMI amount in an instant.

18. Can I change my EMI due date for my business loan repayment?

No, you can’t change the EMI due date for business loan. Please feel free to contact us at 1860-500-9900 or write to us at customer.care@idfcfirstbank.com and we will be glad to assist you.

19. How can I repay my business loan?

You can choose from a range of repayment methods for your business loan. The options available are:
  • Electronic Clearing Service (ECS)
  • Post Dated Cheques (PDC)
  • Through our website or mobile applications downloadable from Google Play or Apple App store.

20. Is there any CIBIL impact if I close my business loan?

Business loans are given in the name of businesses, and not individual names. There is no impact of closing a business loan early on your CIBIL score.

If you would like more information about CIBIL score impact or any other business loan related issue, please contact us at 1860-500-9900 or write to us at customer.care@idfcfirstbank.com and we will be glad to assist you.

Didn’t find an answer to your question?

21. I have a question that is not listed here; what do I do?

We will be glad to help you with any questions regarding the IDFC FIRST Bank Business Loan. Please feel free to contact our customer representative at 1860-500-9900 or email us at customer.care@idfcfirstbank.com. If you have a more pressing matter to discuss, feel free to visit any of our branches and speak to our customer representatives.
Effective 18th December 2018, Capital First & IDFC Bank have merged. The merged entity is now IDFC FIRST Bank. Click here to visit the website of IDFC FIRST Bank Effective 18th December 2018, Capital First & IDFC Bank have merged. The merged entity is now IDFC FIRST Bank. Click here to visit the website of IDFC FIRST Bank Effective 18th December 2018, Capital First & IDFC Bank have merged. The merged entity is now IDFC FIRST Bank. Click here to visit the website of IDFC FIRST Bank Effective 18th December 2018, Capital First & IDFC Bank have merged. The merged entity is now IDFC FIRST Bank. Click here to visit the website of IDFC FIRST Bank Effective 18th December 2018, Capital First & IDFC Bank have merged. The merged entity is now IDFC FIRST Bank. Click here to visit the website of IDFC FIRST Bank