About ADITYA BIRLA BUSINESS LOAN
Aditya Birla Finance Limited is one of the top 5 Non-Banking Financial Corporations (NBFCs) in India. With an unmatched quality of financial services to the customers, ABFL caters to a diverse group of customers, which include retail, HNI, ultra HNI, micro enterprises, SME, mid and large Corporates.
Since 1991, ABFL has been serving customers with a variety of products and services like secured and unsecured business loans, personal loans, a line of credit, working capital demand loan, supply chain financing solutions, invoice discounting, so on and so forth.
ABFL extends both secured and unsecured loans to businesses and individuals. A self-employed entrepreneur, a trader, a manufacturer, and/or a firm/company can take a secured or unsecured business loan to meet their working capital requirements or to expand their business or just to increase the liquidity of the company.
Why Aditya Birla Business Loan?
- Flexible tenure: A business loan from ABFL provides the borrower with a flexible tenure to repay the loan. The loan tenure ranges from 12 months to 36 months.
- No security is required: ABFL gives collateral-free loans to the borrowers.
- Repayment mechanisms: A business loan taken from ABFL can be repaid either through ECS or through NACH.
- Loan amount: ABFL extends a business loan up to 15 Lac to businesses or individuals to meet their working capital requirements.
- The rate of interest: The most significant advantage of ABFL business loan is that the interest rate is fixed, which in turn makes the calculation of EMIs easy.
ALL ABOUT ADITYA BIRLA BUSINESS LOAN
Loan Turnaround Period
Who can apply?
Aditya Birla Business Loan Interest Rates, Charges and Fees
The rate of Interest varies greatly according to the credit profile of the business owner. Short Term Reference Rate (STRR) of ABFL is 16.60% p.a. while Long Term Reference Rate (LTRR) is 17.35% p.a. with effect from 10th August 2018. The floating interest rate on your loan is affected by the change in this rate.
Processing Fee/Administration Fees
14 - 21%
Upto 15 Lacs
2% of the amount prepaid
Default Penal Interest Rate
2% every month or 24 % p.a.
Cheque Return/ ECS Failure Charge
3 % of loan outstanding
As per actual delayed status
Types of Aditya Birla Business Loan
- Instant Business Loan: Aditya Birla provides its customers with instant Business Loan which can be applied online in 3 simple steps. Customers can avail a business loan online for up to 15 lakh without the need of visiting any branch. The interest rate to avail such a loan starts from 14% p.a.
- Unsecured Business Loan: An Unsecured Business Loan is taken by a borrower without pledging any security or collateral. The unsecured Business Loan by Aditya Birla is a right product for anyone who wants funding to expand or start a new business or need cash to meet the working capital requirements.
- Secured Business Loan: As the name suggests, the borrower is required to deposit some collateral to back the Secured Business Loan from Aditya Group.
- Working Capital Demand Loan: Businesses don't always have cash at their disposal to meet the operational overheads, and sometimes the operational overheads may be more than the revenue. ABFL gives Working Capital Demand Loan only to businesses that have a good credit score. The business can use the funds according to their needs.
- Supply Chain Financing Solutions: All businesses have receivables and dues from other businesses or individuals. ABFL discounts those receivables to help the business to increase their liquidity.
- The line of credit: It is an easy cash facility where in the applicant and the lender come to an agreement to provide the borrower with a line of credit up to a certain limit agreed by both. Also, the borrower can stop the line of credit if he feels that the business can do well without a line of credit. The interest is charged only on the amount which is borrowed and not on the limit which was decided.
Aditya Birla Business Loan Eligibility Criteria
Who can apply?
Business should be in earning position for at least 3 consecutive years.
Complete financials including Balance sheet and Profit & Loss Statement for the last 2 years as well as Tax audit reports.
Good Credit Score ( approx. 650 and above)
Documents Required for Aditya Birla Business Loan
Documents Required for Aditya Birla Business Loan
A copy of any one of the following:
A copy of any of the following:
Other products and services by Aditya Birla
Aditya Birla Finance Limited is one of the top financial institutions in India. Headquarters of the Aditya Birla group are situated in Mumbai, Maharashtra. The financial institution has branches across the length and breadth of the nation.
Other Aditya Birla Products and Services
Portfolio Management Services
Stocks and Securities
Real Estate Investment
Real Estate Finance
Loan Against Securities
How to calculate Aditya Birla Business Loan EMI?
MyMoneyMantra offers the closely accurate EMI Calculator to its users so that they can instantly calculate the Equated Monthly Instalment (EMI). The online calculator also helps you to compare the interest rate and other charges offered by different banks or financial institutions. You can thus conveniently analyze whether Aditya Birla Business Loan rates are high or low in comparison to other financial institutions.
Let us check out the steps of calculating EMIs through MyMoneyMantra's EMI calculator:
- Open your preferred browser in your Smartphone, Desktop, PC or any other electronic device.
- Go to MyMoneyMantra and select any loan for which you want to calculate EMI's or simply go to https://www.mymoneymantra.com/calculator.html.
- The opened window shows a calculator, fill all the information asked there such as Loan amount, interest rate and tenure and click the calculate button.
EMI calculator will give you an EMI amount on your screen, which you have to pay either monthly or quarterly.
Why Apply for Aditya Birla Business Loan on MyMoneyMantra?
Borrowers looking for Aditya Birla Business Loan don't need to go anywhere other than MyMoneyMantra.com. MyMoneyMantra instantly checks your eligibility for a business loan. Also, you can mention the loan amount that you want, and MyMoneyMantra instantly shows you quotes from different banks customized just for you. From there you can choose Aditya Birla Business Loan. MyMoneyMantra brings a lot of other benefits as well:
- Fast eligibility check: MyMoneyMantra checks your eligibility for Aditya Birla Business Loan based on your credit profile.
- Customized Quotes: Applicants who qualify for a Business Loan enjoy customized quotes and cheaper loan rates on MyMoneyMantra.
- Hassle Free Documentation: Documentation at MyMoneyMantra is minimal which in turn reduces the loan turnaround time.
- Assured Privacy: All the information provided by the borrower about the business remains confidential and will never be leaked to any third party. Also, the loan application is forwarded straight to Aditya Birla Finance Limited's concerned department.
- E-Approval Facility: Every Aditya Birla Business Loan applicant at MyMoneyMantra.com enjoys instant approval for loan.
MyMoneyMantra helps customers to avail loan facility quickly, and in doing so, it assures them of quality service and outstanding after sales services. MyMoneyMantra scans your profile deeply to measure your creditworthiness. Also, MyMoneyMantra follows all the rules and regulations laid down by RBI.
How to Apply for Aditya Birla Business Loan on MyMoneyMantra?
MyMoneyMantra makes it extremely easy for the user to apply for a business loan on MyMoneyMantra.com. Just follow the below mentioned steps to successfully apply for Aditya Birla Business Loan:
- Open MyMoneyMantra on your device
- Search business loan on the page and click on it
- The new page opened will ask you to provide the type of employment which may be salaried, self-employed or self-employed professional.
- The next step requires you to enter your first and last name
- Enter your e-mail address
- Select the city of your residence
- Select the type of business which may be a private limited company, partnership or proprietorship
- Carefully enter the annual income because it will affect your interest rate and the quantum of the loan as well
- Put some thought into the loan amount that you want to borrow because you have to repay the loan as well. So enter that amount which you need.
- Provide your mobile number. Here you will receive notifications regarding your loan application.
- Accept the terms and conditions
- Hit "show me the best offers" to browse through the various business loan offers
- Mymoneymantra will send an OTP to your number
- Enter the OTP, and you will be redirected to a new page where you will see business loan quotes from other financial institutions as well
- From here choose Aditya Birla to avail a business loan
Aditya Birla Business Loan Customer Care
Customer servicing is an important part of any business, and Aditya Birla Finance Limited understands it very well. The customer care cell of ABFL is very competent, responsive, courteous and fluent in both English and Hindi.
Toll-Free Customer Care Number for Aditya Birla Finance Limited is 1-800-270-7000
The customer care cell is active on all working days from 10 am to 6 pm (Monday to Saturday, except national holidays). Apart from the toll-free number, you can also drop an e-mail seeking assistance or regarding any query or complaint. Mail to: firstname.lastname@example.org
If you have sent anemail regarding any complaint or query, you can expect a call or reply from them within 3 working days. These qualities make Aditya Birla Business Loan Customer Care one of the best in the business. If you still have any unanswered queries, you can always go to the nearest branch.