Top 5 Business Loan App in India in the year ‘2020’

If you are facing financial crises for your small business, then there are various lenders which offer Business Loan through Apps. Money lending app in India are becoming popular nowadays with attractive offers to provide small business loans. These top 5 Business Loan app in india offers small business loan at the cheapest rate of interest starting from 1%. Along with various benefits, you can apply for business loans within few minutes just filing all details and submitting online documents through their personalized Business loan apps.

After detailed research, we have gathered details about the best 5 loan apps in India to help you to get your business loan.

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1. Bajaj Finserv: Laon app in india

Bajaj Finserv offers a quick and easy business loan up to INR 30 lakh. You can use the funds to expand your business, maintain inventory, or to invest in Plant & Machinery. Moreover, the loans are getting approved within 24 hours and interest is charged only on the amount withdrawn.

To be an eligible borrower, the applicant must be between 25 to 55 years with Minimum 3 years of business. For the anytime, anywhere access to a business loan, the Bajaj Finserv app can be download from the play store.

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2. ZipLoan:

Zip loan is another Business financing app in India, which offers collateral-free business loan to fulfill your working capital needs. From short term loans to Equipment financing, the lender has all loan spots options at a single platform. You can get loans to range from INR 1-5 lacs with a flexible repayment period ranging from 12-24 months.

A borrower should have a business in the existence of at least two years with a minimum turnover of business INR 10 lakh in the last 12 months. Also, income tax returns for the previous financial year must be more than Rs.2.5 lakh.

3. Capital Float:

Intending to make funds easily and on time availability, Capital Float offers different types of loan products, including Term Finance, Loan against card swipes and School loans. It is an online platform that provides working capital finance to SMEs in India. You can avail of the loan facility from INR 3 lacs to INR 1 crore with an affordable interest rate of 16% p.a. The repayment schedule ranges between 6 months – 36 months.

Depending upon the type of looking you are to avail, you must have an operational history of business for 1 year, 3 years or more having at least 1 crore of business turnover.

4. Dhani:

If you are looking for funding your business, to invest in infrastructure, Plant & Machinery or even to increase your working capital, Dhani offers instant business loans in India. You can get a loan starting from as low as INR 10,000 up to INR 10 lacs with the cheapest rate of interest @ 1% per annum. With no paperwork documentation, you can get an unsecured loan within few hours.

For the quick disbursal, within 5 minutes, a borrower should have GST and ITR returns of business and must have Bank account in any of these 5 banks SBI, ICICI, Kotak, HDFC and Axis. 

5. LendingKart:

With 100% online application process, LendingKart is one of the top business loans giving app in India. The lender offers collateral-free loans and money direct in your bank account. Lendingkart offers business loans faster than the 59 Minute Business Loan scheme.

You can avail loan of INR 50,000 up to INR 2 Crore with a customized interest rate of 1 to 2% per month. To qualify a business loan with LendingKart, the business must be in operations for more than 6 months and a minimum turnover of INR 90,000 or more in the 3 months preceding your loan application.

Summarized view of Top 5 Business Loan Giving Apps

App Name Amount of Loan (INR) Lowest Listed Rate (per month) Eligibility Criteria
Bajaj Finserv Up to Rs. 30 lakh  1.5% Age limit must be 25-55 years old   The Business should be in existence of at least 3 years   Business return should be filed for at least 1 year.
ZipLoan 1 lacs -5 lacs 1% to 1.5% The minimum turnover of your business must be Rs.10 lakh in the last 12 months.   Income Tax Returns should be filed for the last 2-3 years.     You should be conducting your business operations for a minimum of 2 years.
Capital Float 3 lacs – 1 crore 1.3% – 2% Business must be registered for 3 years or more   Annual business turnover of more than INR 1 crore   GST returns for the last 6 months   Banking account statements of business of the last 6 months
Dhani 10,000 – 10 lacs 1% Age must be between 25 – 65 years   GST and ITR Returns   Bank account in any of these 5 banks SBI, ICICI, Kotak, HDFC and Axis
LendingKart 50,000 –  2 Crore 1% – 2% Business must be in operations for more than 6 months. Minimum turnover of INR 90,000 or more in the 3 preceding months

Compare the different loan giving apps in India and find out the loan app that meets your requirements. With online loan apps and minimum documentation, these business loan giving apps will help you to get a loan shortly and quickly.

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11 thoughts on “Top 5 Business Loan App in India in the year ‘2020’”

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