Protium Finance Business Loan


Protinum Finance Ltd. provides business loans starting at an interest rate of 1.5% per month for loan amounts up to Rs 5 crore and repayment periods of up to 10 years. These loans can be used for various purposes such as business expansion, working capital, purchasing equipment and machinery, and more. Borrowers can choose from different credit facilities including Line of Credit/Overdraft (OD), Term Loan, Merchant Cash Advance, and Invoice Financing. Additionally, Protinum Finance Ltd. offers business loans specifically tailored for educational institutions to support infrastructure upgrades, acquisition of new schools, and financing working capital needs.

Highlights of Protium Finance Business Loan
Interest Rate Starts from 1.5% per month
Processing Fee Up to 4% of the loan amount
Loan Amount Up to Rs 5 crore
Tenure Up to 10 years

*Terms and conditions apply.

Table of Contents
Protium Finance Business Loan Interest Rates
Fees & Charges
Types of Business Loans provided by Protium Finance
Eligibility Criteria
Documents Required

Protium Finance Business Loan Interest Rates

Loan Variants Interest Rates (p.a.)
MSME/Business Finance 1.5% per month onwards

Comparison Table of Business Loan Interest Rates offered by MybankingTips Partners:

Bank/NBFC/Fintech Interest Rate  
SBI Bank 9.10% p.a. Apply Now
HDFC Bank 10.00% - 22.50% p.a. Apply Now
Kotak Mahindra Bank 16% p.a. onwards Apply Now
RBL Bank 14%-26% p.a. Apply Now
ICICI Bank Up to 17% p.a. Apply Now
Axis Bank 10.75% p.a. Apply Now
IDBI Bank 8.05% to 13.45% p.a Apply Now
Bank Of Baroda 10% to 15% p.a Apply Now
Ujjivan Small Bank Up to 2.50% Apply Now
Bajaj Finserv 9.75% - 25% p.a. Apply Now
IIFL Finance 12.75% - 44% p.a. Apply Now
FlexiLoans 1% per month onwards Apply Now
ZipLoan 1% - 1.5% per month (Flat) Apply Now
Indifi Finance 1.5% per month onwards Apply Now
Five Star Business Finance Up to 2% Apply Now
Lendingkart Finance 1.25% per month onwards Apply Now
Tata Capital Finance 12% p.a. onwards Apply Now
NeoGrowth Finance 15% p.a. onwards Apply Now
Hero FinCorp Up to 26% p.a. Apply Now
Aye Finance Up to 2.5% Apply Now
Clix Capital Up to 3% Apply Now
Protium Finance Up to 1.5% Apply Now
HDB Finance 8% - 26% p.a. Apply Now
U GRO Capital Up to 9% p.a. Apply Now
Mcapital Business Up to 2% p.a. Apply Now

Also read: Best Business Loan Interest Rate

 

Protium Finance Business Loan Fees & Charges

Fees & Charges of Unsecured Business Loan

Description Charges
Processing Fees Up to 4% of the loan amount
Foreclosure Charges You can't pay off your loan in the first year. After a year, if you want to pay it off early, you might be charged up to 6% of the remaining amount.
Refund of Processing Fee Pre Sanction – fee paid less Rs 10,000 as administrative charges
Post Sanction – Nil
Loan Cancellation Charges Rs 10,000 + interest rate from the date of the loan disbursement till the request date for cancellation
Application Fees Up to Rs 30,000
Legal Charges At actuals
Foreclosure Letter Issuance Charges Rs 500
Duplicate NOC Rs 500
Asset Verification Charges  At actuals
Demand Draft Charges At actuals
Cash Collection Charges 1% of the receipt or collected amount
Document Retrieval  Rs 1,000
Instalment Repayment Date Change (with no other changes) Rs 1,000
PDC/ ECS / NACH Bounce Charges (per presentation) Rs 750
Penal interest For property-backed loans – 2% p.m. on the instalment overdue
For others – 3% p.m. on the installment overdue
Modification of loan terms after first loan disbursement including re-scheduling of loan repayment conditions, addition or deletion of co-borrower(s), etc Up to 2% of the outstanding principal amount

Also read: Best Business Loan EMI Calculator

Types of Protium Finance Business Loan

Loan Against Property

Purpose: Protium provides a loan against property facility for MSMEs with minimal documentation requirements.

Loan Amount: Up to Rs 5 crore

Business Finance

Purpose: Protium Finance gives loans to small and medium businesses like shops, factories, and service providers. They also offer special loans for hotels, restaurants, travel agencies, shops, and online businesses.

You can apply for a loan online to buy equipment, expand your business, renovate, hire new staff, or do marketing. They offer different types of loans like overdraft, term loans, cash advances, and invoice financing.

Loan amount: Up to Rs 30 lakhs

Working Capital Finance

Purpose: Schools can use this loan facility to cover their day-to-day operational expenses. It's an unsecured loan, meaning schools don't need to provide any collateral to secure the loan.

Loan amount: Up to Rs 25 lakhs

Tenure: Up to 3 years

New School Acquisition

Purpose: Protium Finance provides a "New School Acquisition Facility" for individuals who are looking to acquire a new school.

Loan amount: Up to Rs 5 crore

Tenure: Up to 10 years

Educational Institutional Finance

Business Loan for Infrastructure Upgrade in Education Institutes

Purpose: Schools can access the "Infrastructure Upgrade Scheme" to finance repairs, set up new blocks, perform maintenance work, purchase new furniture, and invest in digital infrastructure for smart classrooms. This loan requires collateral, making it a secured business loan.

Loan amount: Up to Rs 5 crore

Tenure: Up to 10 years

Equipment & Machinery Finance

Purpose: Individuals can use this facility to finance their purchases of equipment and machinery. The loan is primarily aimed at helping people buy machinery. The main industries targeted by this product are light engineering, food processing, material handling, plastic/injection molding, packaging, printing, extrusion, woodwork accessories, and gensets.

Loan amount: Rs 10 lakh to Rs 3 crore

Tenure: Up to 10 years

LTV: Up to 80% of the cost

Eligibility Criteria for Availing Protium Business Loan

  • For a sole proprietorship business:
  • Aadhaar-linked mobile number for verification purposes.
  • Proof of Address for both current residence and business address.
  • Business Proof demonstrating at least 1 year of existence prior to the application.
  • Bank account details (current and savings), along with access to net banking or ePDF.

Also read: Best Business Loan Eligibility

Documents Required for Protium Business Loan

Business Loan Documentation

  • PAN Card
  • Aadhaar Card
  • Proof of Business Registration
  • Last 9 Months Bank Statements
  • Address Proof (both personal and business)
  • Latest Income Tax Return (ITR) for loans exceeding Rs 15 lakhs

E-Commerce Business Loan Documentation

  • Bank account statements for the past 6 months.
  • GST certificate and latest GST filings are mandatory.
  • KYC documents of your organization and business registration proof.

Shop Loan Documentation

  • Business PAN Card.
  • Last 6 months of bank account statements.
  • Identity proof such as PAN card or driver’s license.
  • Business documents including a sole proprietorship declaration. 

Also Read :  Best Business Loan Documents Required

Frequently Asked Questions

Yes, it's possible to get your bike financed even as a student if you meet the specific eligibility criteria set by the lenders.

The best loan for financing your bike or scooter is the one with the lowest interest rate. This way, you'll have to pay less in monthly installments (EMIs) throughout your loan term.

To get financing for your motorcycle, bike, or scooter, you can easily apply for the loan online from home. Or, if you prefer, you can go directly to a bike shop and apply for the loan there by giving them the documents they need

You can check your loan status online through internet banking. Another option is to visit the closest branch of the bank or financial institution that's providing the loan.

Many lenders consider a credit score of 620 and above to be good when giving out loans for motorcycles, superbikes, or scooters. However, if your credit score is lower than 620, you can still find lenders who may be willing to give you a loan, although they might charge a higher interest rate.

Banks allow you to make prepayments after successfully paying 3-6 EMIs. Depending on the number of EMIs you've already paid, there might be a small fee applicable on the outstanding amount when you choose to prepay.