Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Business Loan Interest Rates

Borrowing for your business is always a positive step that can help you scale new heights in your business. Our customised business loan interest rates and fees are tailored to suit every customer as per his or her individual profile and requirement. Thus, no matter what your need is – working capital, purchase of new machinery, business expansion or debt consolidation, our affordable solutions will ensure that you meet your business loan requirements in the easiest and most convenient manner.

SMFG India Credit offers affordable Business Loans solutions. Upon receiving your application, you will firstly be evaluated for eligibility as per our policy at the time of loan application based on the information you provide us. If deemed eligible, our representative will get in touch with you to understand your requirements in detail and set up an appointment for document collection. Depending on what you require, your credit score, business turnover and other financials, we will arrive at the best possible business loan interest rates that can be offered to you.

Read on to know more about our business loan interest rates and other charges.

To know more, please feel free to get in touch with us through our customer care centre, or visit us at your nearest SMFG India Credit branch.

SMFG India Credit Business Loan Interest Rates

The below charges are indicative. Detailed break-up of charges will be part of the Loan documents.

Interest Rate Minimal and competitive interest rates (depending on several factors including location, net income, business stability, collaterals, existing monthly obligations, etc.)
Loan Amount Up to Rs. 75 Lakhs*
Loan Tenure upto 48 months*
Processing Fees Up to 6.5% of the Loan Amount
Customer Type Proprietor / LLP/ Pvt Ltd. / Partnership / Public Ltd.

Business Loans Fees & Charges

Here’s a table of Fees and Charges for SMFG India Credit Business Loans to help you understand the same in detail

Fee Type Applicable Charges
Late payment charges 2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.
Collection of Cheque/Cash
(per collection)
Cheque /ECS dishonoured Charges
(per dishonour of cheque/ECS per presentation)
Swap Charges- for replacement of Post-dated cheques to ECS
(per instance)
Swap Charges- for replacement of ECS to ECS
(per instance)
Loan Cancellation charges
(loan cancelled before first EMI)
No. of EMIs paid (Excluding Pre-EMI) Foreclosure Charges
0 to 17 EMI(s) fully paid 7% of the Principal Outstanding
18 to 23 EMI(s) fully paid 5% of the Principal Outstanding
24 to 35 EMI(s) fully paid 3% of the Principal Outstanding
36 or more EMI(s) fully paid No Foreclosure Fee

*Terms and Conditions apply

How Can You Get Low Interest Rates on Your Business Loans?

You can ensure getting business loans at lower interest rates by following these tips:  

  1. Aim for a high credit score by monitoring and addressing discrepancies in your credit report.
  2. You must ensure consistent and punctual EMI payments to establish credibility and increase the likelihood of securing a business loan with a low-interest rate.
  3. You should develop a detailed and comprehensive business plan outlining goals and strategies to demonstrate commitment to business success and favorable loan terms.
  4. Enhance financial statements by focusing on turnover, projects, and overall stability to appeal to lenders for a lower interest rate.
  5. Thoroughly compare loan offerings, explore refinancing options, and stay informed about market rates for effective negotiation.

Factors that Affect Business Loan Interest Rates

You must take a look at the following factors which affect the business loan interest rates.

  1. Your Creditworthiness: Your credit history significantly influences your business loan interest rate. A higher credit score can secure a lower rate, showcasing financial reliability.
  2. Loan Amount: The amount you borrow affects the interest rate. Larger loans may secure lower rates, given the increased income potential for the lender, while smaller loans may incur higher rates.
  3. Repayment Tenure: Loan term length matters; longer tenures may offer lower rates, reducing pressure on you, while shorter terms may result in higher rates for quicker lender reimbursement.

Considering these factors, you can negotiate better terms for your business loan interest rates. 

Page also available inहिन्दी - Hindi

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Business Loan EMI Calculator

Use our business loan EMI calculator to estimate the EMI of your loan.

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

12 Months48 Months

Your Calculated EMI*


Disclaimer The above calculator with graph & below table provide an approximate calculation of the EMI ( Equ... Read More


Can I Get a Business Loan with a 750 Credit Score?

Yes, you can get a business loan with a credit score of 750. There are many other factors like tax payment record, bank balance, credit utilization ratio, etc that we consider to determine your eligibility for business loan. However, your credit score is a crucial factor in determining your business loan eligibility. It is extremely important to ensure a healthy CIBIL score. You can aim at the best business loan interest rates and special offers (if any) with a credit score 750. Business owners with a low credit score may have a tougher time securing the loans they want.

What is the Processing Fee for Business Loans?

The processing fee that you pay in a business loan is anywhere up to 6.5% of the loan amount. Here are a few of the additional charges for a SMFG India Credit business loan:

  1. INR 300 related to dishonouring of cheque or ECS dishonouring. 
  2. Swap charges for replacement of post-dated cheques to ECS are INR 500.  
  3. Loan cancellation charges are INR 1,000. 
  4. There are additional charges for payment default at the rate of 24% per annum on outstanding balance which is overdue that is calculated on a day to day basis. 
  5. Further, there are foreclosure charges applicable. Please scroll down or visit the Loan charges page to know more. 

Is it Difficult to Get a Business Loan?

If you have a healthy credit score, match the business loan eligibility criteria, and submit all the requisite documents as per our requirements, it isn’t difficult to get a business loan. You can apply online and seamlessly get your loan. 

Here are some instances where getting a business loan may prove difficult:  

  1. Low credit score/rating 
  2. Payment defaults in the past 
  3. Weak business cash flow 
  4. Poor business plan 
  5. Multiple loan applications 
  6. Lack of documentation 
  7. Poor tax payment record
  8. You have insufficient business experience and / or you need the funds to start a new business from scratch

What is the Minimum and Maximum Business Loan Tenor That Can Be Given?

The minimum business loan tenor you can get is 12 months. And the maximum business loan tenor you can get is 60 months. SMFG India Credit’s secured business loans (which are usually secured against property) have a repayment tenure between 12 to 180 months.

What are the Pre-Closure / Foreclosure Charges for Business Loans?

There is a foreclosure charge of 7% if you foreclose the loan between 7-17 fully paid EMIs, 5% charge between 18 and 23 fully paid EMIs, and 3% charge between 24 and 35 fully paid EMIs.

How can I calculate my business loan interest?

To calculate your business loan interest, you can use the formula: Interest Amount = (Principal Amount x Interest Rate x Loan Tenure) / 100. Alternatively, you can use an online business loan EMI calculator provided by SMFG India Credit.

What are the factors that affect my business loan interest rate?

Several factors affect the business loan interest rate, including your good credit score, business's financial health, loan amount, loan tenure, market conditions, and the type of loan.

Is the business loan interest rate fixed or floating?

The business loan interest rate is fixed, meaning it remains constant throughout the loan tenure. Borrowers can plan their finances more accurately as the EMIs remain unchanged, providing stability in repayment.

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