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| Loan Amount | ₹100,000 |
| Interest % | 8 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,699 |
| Total Interest | ₹ 4,386 |
| Loan Amount + Interest | ₹ 104,386 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 65,779 | ₹ 3,813 | ₹ 69,592 | ₹ 34,221 | 65.78 % | |||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 34,223 | ₹ 573 | ₹ 34,796 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank/NBFC Name | CIBIL | Rate Of Interest | Processing Fee | Loan Amount | Apply for Loan |
|---|---|---|---|---|---|
| ICICI BUSINESS LOAN OVERDRAFT | 700+ | 15% onwards (Fixed) | 1%-2% | Upto 50 Lac | Apply Now |
| DCB Working Capital Loan | 700+ | 10% on wards (Fixed) | 0.50% to 1% | Upto 15 Cr | Apply Now |
| RBL Bank Working Capital Loan | 700+ | 9.5% on wards (Fixed) | 0.50% to 1% | Upto 50 Cr | Apply Now |
| IndusInd Bank Working Capital Loan | 700+ | 9.5% on wards (Fixed) | 0.50% to 1% | Upto 30 Cr | Apply Now |
| Utkarsh Bank Working Capital Loan | 700+ | 10% on wards (Fixed) | 0.50% to 1% | Upto 15 Cr | Apply Now |
With a working capital loan, you can start up your own business or buy and sell merchandise easier by getting the cash needed to expand your operations. Apply now and be on your way to success!
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
As a business owner, you know that slow-paying customers are a real problem and you've come to realize that cash flow issues are holding back your growth. Get a working capital loan with Referloan and you can be sure that it is worth the money.
At ReferLoan, we ensure to support you with the best financial products such as Working Capital Loans. With low interest and an easy application process, you can rest assured of a secure future for your business without any cash flow interruptions.
| Working Capital Loan Details | |
|---|---|
| Interest Rate | At the discretion of the bank |
| Processing Fees | Depends on Bank |
| Loan Tenure | Up to 7 Year |
| Pre-closure Charges | Varies with Bank |
| Guarantor Requirement | Varies with Bank |
To be eligible for working capital finances, you must be at least 21 years of age and no older than 65.
The Business vintage must be at least 3 years.
Must bring the latest Income Tax returns information
Business should not be blacklisted
The business location should not be in a negative location list
You will probably be asked to provide more information to prove that your business exists
Trust, small businesses, and NGOs are not eligible
PAN Card
Aadhaar Card
Driving Licence
Voter ID
Passport
Registered rent agreement
Current passport size photograph
Salaried income documents
Self Employed person documents
Note : *Documents may vary from one lender to another
Most of the banks are very particular regarding their guidelines when it comes to Working Capital Loan. So any sort of lack of eligibility or documentation can cost you a loan application rejection.
A working capital loan is a type of financing wherein you get money to pay for your daily expenses. This loan may be from a bank, private lender, government agency, or any other financial institution that approves loans based on the grantor's credit history. A business may avail of this loan if there is no steady flow of income for it to keep its business running. The money provided by this loan will be used for everyday operating costs like the payments of salaries, utilities, accounts receivable, and depreciable expenses. This type of loan is taken out by businesses that have regular sales or revenue accounting for a major amount of their operating expenses.
The only thing considered in these loans is the business's sales cycle which explains the business's current situation in that they need funds.
You can get working capital loans from friends, family, investors, banks, business suppliers, etc.
The working capital loan is a secured loan that asks you to keep collateral for approval.
Working capital loans are given within 2-3 days.
You can use your working capital loans for payroll or rent issues.
Consultant
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