ZipLoan Business Loan


ZipLoan is a growing company that provides business loans for startups, expanding businesses, covering day-to-day expenses, or purchasing new machinery. They offer loans with interest rates ranging from 1% to 1.5% per month. The maximum loan amount available is up to Rs. 7.5 lakh, with repayment options spanning up to 36 months.

Table of Contents
ZipLoan Business Loan Interest Rate
Eligibility Criteria
Documents Required for Loan Application
FAQs

ZipLoan Business Loan Interest Rate

ZipLoan Business Loan
Interest Rate 1% – 1.5% per month (Flat)
Loan Amount Min. Rs. 1 lakh & Max. Rs. 7.5 lakh
Processing Fee 1-2% of the sanctioned loan amount
Repayment Tenure 12 months -36 months
Collateral Not required for business with turnover of Rs. 10 lakh
Prepayment Charges Nil, after first 6 months
Loan Sanctioning Tenure Within 3 business days after form submission
Annual Turnover More than Rs. 10 lakh

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

 

Eligibility Criteria

  • Last ITR of more than Rs. 1.5 lakh
  • Business existence of at least 2 years
  • Either business space or home should be self-owned
  • Applicant should have a minimum of 10 lakh of annual turnover

Also read: Best Business Loan Eligibility

Documents Required for Loan Application

  • Personal Documents - PAN card, Residence address proof, Ownership of property proof
  • Business Documents - Business PAN card, Business vintage, entity, and address proofs, GST registration certificate, Last year’s ITR, Last 12 months’ Bank account statement

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.