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₹6 Lakh Business Loan — Quick Overview

A ₹6 lakh business loan can provide funding for working capital, inventory, equipment and other business expenses. You repay the borrowed amount through monthly instalments over the selected tenure.

6 Lakh business loan quick overview
Particular Details
Loan amount₹6,00,000
Interest rate* From 1.5% per month
Tenure* Up to 48 months
EMI for 48 months₹17,625
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.

₹6 Lakh Business Loan EMI by Tenure

The Equated Monthly Instalment (EMI) for a ₹6 lakh business loan depends on the interest rate and repayment tenure. A shorter tenure generally means a higher monthly EMI, while a longer tenure can lower the EMI but increase the total interest paid.

At an indicative interest rate of 1.5% per month, the estimated EMI and repayment amounts are:

6 Lakh business loan EMI by tenure
Tenure Monthly EMI Total Interest Total Payable
6 months₹1,05,315₹31,891₹6,31,891
12 months₹55,008₹60,096₹6,60,096
24 months₹29,954₹1,18,907₹7,18,907
36 months₹21,691₹1,80,892₹7,80,892
48 months₹17,625₹2,45,999₹8,45,999

For a ₹6 lakh loan at 1.5% per month, the estimated EMI for 24 months is ₹29,954. 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 ₹6 Lakh Business Loan Is Best For

A ₹6 lakh business loan can suit businesses that need slightly more funding for inventory, equipment, or working capital. The amount can help you manage a larger purchase without using all your available business cash at once.

You could use the funds for a larger inventory purchase, essential equipment, a store fit-out, or an advance payment to a supplier. The right use depends on your business cycle, expected cash flow, and ability to manage the monthly repayment.

You may not need to borrow the full ₹6 lakh if your requirement is smaller. A lower loan amount can reduce your EMI. If you are planning a larger expansion or a major investment, consider whether a higher loan amount and its repayment obligation fit your business cash flow.

Common ₹6 Lakh Use Cases

A ₹6 lakh business loan may help you manage:

  • Slightly larger inventory or equipment needs: Fund a larger stock purchase or upgrade essential equipment as your business grows.
  • Single-store fit-out: Upgrade your store with new fixtures, storage, interiors, or other improvements.
  • Vendor advance: Make an advance payment to a key supplier to secure inventory or materials for your business.
  • Opening a new branch: Use the funds to cover initial setup costs, such as rent deposits, interiors, equipment, inventory, and other essential expenses for a new location.

₹6 Lakh Business Loan Eligibility

Your eligibility for a ₹6 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:

  • Partnership
  • Sole proprietorship
  • Private limited company
  • Limited Liability Partnership (LLP)
  • 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 ₹6 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

You might be asked to share your PAN and Aadhaar details to confirm your identity when you apply.

Address Proof

Please share a valid document that shows where you live or where your business is located.

GST or Business Registration

GST registration or other business registration documents help establish your business identity and details.

Six-Month Bank Statements

Bank statements covering the past six months give the lending partner a view of your business transactions and cash flow.

ITR and GST Returns

Your Income Tax Returns (ITR) and GST returns provide details about your reported income, turnover, and business activity.

Why Are Only a Few Documents Required?

The documents help the lending partner understand your business and assess your application. You may need to provide some additional paperwork based on your business structure and financial details.

How to Get a ₹6 Lakh Business Loan Online

You can apply for a ₹6 lakh loan for business online by following these steps:

  • Complete mobile verification: Begin your application and verify your number through OTP.
  • Tell us about your business: Enter details such as your business type, turnover, and operating history.
  • Submit the required documents: Upload your PAN, Aadhaar, six-month bank statements, and other documents.
  • Review your ₹6,00,000 loan offer: Go through the offered rate, EMI, tenure, and applicable charges.
  • Sign the agreement online: Review the terms and complete the e-sign process.
  • Get the loan amount: After approval and completion of the required checks, the lending partner can disburse the funds as applicable.

Why Choose Indifi for a ₹6 Lakh Loan

A business loan should fit both your funding needs and your ability to repay. With Indifi, eligible businesses can apply online and connect with lending partners.

48-Hour Disbursal

After your application is approved and all paperwork is finished, you could get your funds in as little as 48 hours. The exact timing depends on the lending partner and your application.

Collateral-Free Funding

You might not need to use property or other assets as security for the loan. Indifi helps eligible businesses find lending partners who offer unsecured business loans, based on their criteria and terms.

Fully Online Application

You can send your basic details, business information, and documents online. This means you can finish the first part of your application without having to deal with lots of paperwork.

₹6 Lakh Business Loan in Your City

Business owners across India may need funding for inventory, working capital, equipment or expansion. A ₹6 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 start an online application by completing OTP verification, entering your business details, and uploading the required documents. Select ₹6,00,000 and your preferred tenure, review the loan offer, and complete the e-sign process. Eligible applications may receive funds in as little as 48 hours, subject to the lending partner's approval and required checks.

At an indicative interest rate of 1.5% per month, the estimated EMI is ₹55,008 for 12 months, ₹29,954 for 24 months, ₹21,691 for 36 months, and ₹17,625 for 48 months. Your actual EMI may differ because the lending partner may offer a different interest rate or tenure based on your business and financial profile.

To be eligible, your business should be at least one year old, have an annual turnover of at least ₹12 lakh, and have filed GST for 12 months. Applicants are usually between 22 and 60 years old and need a CIBIL score of 650 or higher. The final decision depends on the lending partner's review.

A ₹6 lakh business loan available through Indifi can be collateral-free, subject to the lending partner's terms. You generally do not need to pledge property or another asset for an unsecured loan. The lending partner may still apply its own eligibility, documentation, and credit assessment requirements.

Common documents include PAN, Aadhaar or address proof, GST registration, six months of bank statements, GST returns, and Income Tax Returns. A private limited company may also need documents such as its Memorandum of Association (MOA) and Articles of Association (AOA). Additional documents may apply based on the lending partner's requirements.

The indicative rate starts at 1.5% per month and may vary based on factors such as your business profile, turnover, and credit history. Interest rates are indicative and subject to change based on the lending partner's assessment. Review the final rate, EMI, applicable charges, and total repayment amount before accepting the loan.

A business generally needs to be at least one year old to meet the indicative eligibility criteria. Your CIBIL score can also affect your chances of getting a loan and the terms offered. Lending partners may also consider turnover and repayment capacity before making a decision. Meeting one or more 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.