Interest rates vary based on factors such as credit profile, turnover, and business loan eligibility. The exact rate is shared upfront during the online business loan apply process, ensuring transparency before you proceed.
Interest rates vary based on factors such as credit profile, turnover, and business loan eligibility. The exact rate is shared upfront during the online business loan apply process, ensuring transparency before you proceed.
You can business loan apply online by visiting LendingKart’s website and completing a simple digital application. The process is paperless, quick, and designed to offer a business loan instant approval experience for eligible borrowers.
Lenders offer several convenient options to repay your monthly EMIs. The most common method is through auto-debit or NACH (National Automated Clearing House), which allows your EMI to be automatically deducted from your registered bank account on the due date.
You can also make EMI payments through online banking, UPI, or other digital payment modes (if supported by your lender). In some cases, repayment may also be accepted via post-dated cheques or cheque deposits at designated branches, as per the lender’s policy.
At the time of loan setup, you can choose your preferred repayment method and update it later if your lender permits.
Your EMI due date is fixed at the time of loan approval and remains the same each month which shall be mentined as part of the loan agreemwent — “repayment schedule”. Typically, the EMI is due on the same date every month, starting from the date of the first loan disbursal to your bank account.
Your EMI usually stays the same once your loan amount, interest rate, and tenure are fixed at the time of approval.
However, if your loan has a floating interest rate, your EMI may increase or decrease if there are changes in the benchmark rate or the lender’s rate of interest.
If there’s any change to your interest rate, EMI amount, or repayment schedule, your lender will inform you in advance through your registered contact details, and the update will also reflect in your loan statement and Key Fact Statement (KFS).