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₹10 Lakh Business Loan — Quick Overview

A ₹10 lakh business loan can provide funding for larger business requirements, including inventory, equipment, working capital and expansion. You repay the borrowed amount through monthly instalments over the selected tenure.

10 Lakh business loan quick overview
Particular Details
Loan amount₹10,00,000
Interest rate* From 1.5% per month
Tenure* Up to 48 months
EMI for 48 months₹29,375
Processing fee* Up to 4%
CollateralUsually not required
Disbursal* Disbursed in 48 hours
Minimum annual turnover* ₹12 lakh and above
PrepaymentAs per applicable terms

* Interest rates, fees, eligibility, tenure, and processing timelines are indicative and may vary based on the lending partner's assessment.

₹10 Lakh Business Loan EMI by Tenure

The EMI for a ₹10 lakh business loan depends on the interest rate and how long you take to repay it. If you choose a shorter repayment period, your monthly EMI will be higher. A longer tenure lowers your monthly payment but increases the total interest you pay.

For example, with an interest rate of 1.5% per month, here are the estimated EMI and repayment amounts:

10 Lakh business loan EMI by tenure
Tenure Monthly EMI Total Interest Total Payable
6 months₹1,75,525₹53,151₹10,53,151
12 months₹91,680₹1,00,160₹11,00,160
24 months₹49,924₹1,98,178₹11,98,178
36 months₹36,152₹3,01,486₹13,01,486
48 months₹29,375₹4,10,000₹14,10,000

For a ₹10 lakh loan at 1.5% per month, the estimated EMI for 24 months is ₹49,924. The actual EMI may vary based on the rate and terms offered by the lending partner.

EMI formula

EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]

Here, P is the principal loan amount, r is the monthly interest rate, and n is the number of monthly instalments.

These figures are indicative. Your actual EMI depends on the rate and terms offered by the lending partner.

What a ₹10 Lakh Business Loan Is Best For

A ₹10 lakh business loan can suit businesses with larger funding requirements than routine working capital needs. The amount may help you manage several related expenses while keeping your available business cash for day-to-day operations.

You could use the funds to increase inventory across two locations, purchase mid-range equipment, or manage payroll during a temporary cash flow gap. The amount may also support a showroom refresh or the purchase of a vehicle needed for business operations.

Pick a loan amount that matches your business needs and what you can easily repay. If you need less than ₹10 lakh, a smaller loan will reduce your EMI and overall borrowing cost. For larger expansions, check that you can manage the higher repayments before choosing a bigger loan.

Common ₹10 Lakh Use Cases

A ₹10 lakh business loan can help you with:

  • Two-location inventory: Cover extra stock needs if you run or plan to supply two business locations.
  • Mid-range equipment: Buy or upgrade equipment to improve your business operations or boost production.
  • 1-2-month payroll bridge: Manage employee salary costs during a temporary period when business cash flow is under pressure.
  • Showroom refresh: Upgrade your showroom with improved fixtures, interiors, displays, or customer-facing facilities.
  • Van or fleet addition: Add a commercial vehicle to support deliveries, transportation, or other business operations.

₹10 Lakh Business Loan Eligibility

Your eligibility for a ₹10 lakh business loan depends on your business profile, financial records, and credit history. The lending partner reviews these details before deciding whether your application meets its requirements.

Eligible Business Entities

The following business structures might be eligible, based on what each lending partner requires:

  • Sole proprietorship
  • Partnership
  • Limited Liability Partnership (LLP)
  • Private limited company
  • One Person Company (OPC)

Eligibility Criteria

You may be eligible if you meet the following indicative criteria:

  • Age: 22 to 60 years
  • Business vintage: At least 1 year
  • Annual turnover: At least ₹12 lakh
  • GST filings: 12 months
  • CIBIL score: 650 or above

Documents Required for a ₹10 Lakh Business Loan

Keeping your documents ready can make the application process easier. The lending partner may request documents to verify your identity, business details, and financial position.

PAN and Aadhaar

Keep your PAN and Aadhaar details handy. You will need them to verify your identity when you apply for the loan.

Address Proof

You might be asked for a valid address document to show where you or your business is located.

GST or Business Registration

Your GST certificate or relevant registration documents can help confirm the existence and structure of your business.

Six-Month Bank Statements

Statements from the previous six months help the lending partner understand how money moves through your business.

ITR and GST Returns

ITRs and GST returns help provide a clearer picture of your income, turnover, and business operations.

Why Are Only a Few Documents Required?

The documents help the lending partner verify the key details needed to assess your application. Depending on your business structure, financial profile, and application, the lending partner may request additional documents before making a credit decision.

How to Get a ₹10 Lakh Business Loan Online

You can apply for a ₹10 lakh loan for business online by following these steps:

  • Start with OTP verification: Enter your mobile number and verify it with the OTP.
  • Add your business information: Provide your business details, turnover, and operating history.
  • Provide your documents: Upload the PAN, Aadhaar, bank statements, and other documents requested.
  • Check your ₹10,00,000 loan offer: Review the loan amount, interest rate, tenure, EMI, and charges.
  • Complete the digital agreement: Read the applicable terms and finish the e-sign process.
  • Receive the funds: If the lending partner approves the application and completes its checks, the loan can be disbursed as per the applicable timeline.

Why Choose Indifi for a ₹10 Lakh Loan

Before you borrow, think about how much money your business needs and what EMI you can afford. Indifi helps eligible businesses apply online more easily with the support of its lending partners.

48-Hour Disbursal

After your loan is approved and you finish all the required steps, you can receive your funds in as little as 48 hours. The exact timing depends on your lender and the details of your application.

Collateral-Free Funding

If your business is eligible, you can get an unsecured loan without pledging property or other assets. Terms will depend on the lending partner.

Fully Online Application

Just enter your business details and upload the required documents online to complete the first step of your application.

₹10 Lakh Business Loan in Your City

Business owners across India may need funding for inventory, working capital, equipment or expansion. A ₹10 lakh business loan can help meet these requirements, subject to your business profile and the lending partner's eligibility criteria. You can explore business loan options in major cities such as:

Related Searches

FAQs

You can apply online by verifying your mobile number with an OTP and filling in your business details. Next, upload the required documents, choose ₹10,00,000 and your preferred repayment period. Once you review the offer and complete the e-sign, the lending partner can process your application. Approved applications may receive funds in as little as 48 hours.

Your EMI will depend on the interest rate and repayment period. At an indicative rate of 1.5% per month, the EMI is ₹91,680 for 12 months, ₹49,924 for 24 months, ₹36,152 for 36 months, and ₹29,375 for 48 months. The final EMI will depend on the terms offered by the lending partner.

Your business should generally be at least one year old and have an annual turnover of ₹12 lakh or more. You should also have 12 months of GST filings. The applicant should generally be 22 to 60 years old and have a CIBIL score of 650 or above. The lending partner will consider your overall profile before deciding on the application.

You may not have to pledge property or other assets to get a ₹10 lakh business loan. Indifi connects eligible businesses with lending partners that offer unsecured loans. The exact requirements depend on the lending partner and the terms offered.

You will generally need PAN, Aadhaar or address proof, GST registration, six months of bank statements, GST returns, and Income Tax Returns (ITR). Private limited companies may also need documents such as the MOA and AOA. Depending on your business and application, the lending partner may ask for some additional documents.

The indicative interest rate starts at 1.5% per month. The rate offered to you may be different depending on your business profile, turnover, and credit history. Before accepting the loan, check the applicable interest rate, EMI, charges, and total repayment amount.

The business generally needs to be at least one year old to meet the basic eligibility criteria. A low CIBIL score may affect your eligibility or the terms available to you. The lending partner may also consider your turnover, business performance, and ability to repay the loan. Meeting the basic criteria does not guarantee approval.

If you have other queries, check our FAQ section

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Disclaimer

This content is produced by Indifi Technologies Private Limited for informational purposes only. It does not constitute financial advice, a loan offer, or a guarantee of loan approval. All loans are subject to the lending partner's credit assessment, eligibility criteria, and terms and conditions. Interest rates, loan amounts, and tenures are indicative and may vary. Past disbursement timelines are not a guarantee of future processing times. Indifi Technologies Private Limited is a loan origination platform and does not provide loans directly. Lending partners are regulated entities as per applicable RBI guidelines.