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Public sector banks usually give the best interest rate on business loans. 

SBI offers business loans with interests starting from 11.2%, while ICICI Bank and HDFC Bank interest rates are in the 12-15% range.

Business loans are usually secured loans and thus come with attractive interest rates and various value-added services.

Business loan interest rates are largely dependent on RBI guidelines. These loans can be availed by small-time businessmen to multi-million dollar corporate companies. Loan amounts range from as low as Rs. 50,000 up to Rs.100 crores.

Comparison of Business Loan Interest Rates at Top Lenders

Bank Name

Interest Rate

SBI

11.20%

Corporation Bank

13.55%

Dhanlaxmi Bank

12.90%

Lendingkart

18.00%

Kotak Mahindra Bank

16.00%

Yes Bank

16.25%

HDFC Bank

15.65%

Tata Capital

21.00%

Indifi

24.00%

Note:

It is critical to understand the factors that influence the interest rate you will obtain on your loan application. As previously stated, business loans are available for any small-scale business owners to multinational corporations. Their income projections vary, as do their business loan requirements. To determine the appropriate interest rates, the lender considers several factors like credit score and credit history of the business, profit-loss statements, age of the business, and other debts.

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