Five Star Business Finance Limited Business Loan


Five-Star Business Finance Limited provides secured business loans to self-employed individuals and micro-entrepreneurs for business purposes. These loans can go up to Rs 10 lakh and have a tenure of up to 7 years. The loan amount is determined based on the cash flow analysis of the borrower.

Five-Star Business Loan Highlights
Interest Rate Based on the customer profile
Loan Amount Rs 1 lakh to Rs 10 lakh
Repayment tenure Up to 7 years

*Terms and conditions apply.

Table of Contents
Five-Star Business Loan Interest Rate
Fees & Charges
Eligibility Criteria
Documents Required

Five-Star Business Loan Interest Rate

Five-Star Business Finance Limited hasn't publicly disclosed its business loan interest rates. However, the NBFC determines interest rates considering factors like risk premium, operational expenses, credit costs, expected profitability, and the cost of funds.

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

Fees and Charges of Five-Star Business Loan

Particulars Fees and Charges
Processing charges Up to 2% of the loan amount plus taxes.
If loan is prepaid within 12 months of the disbursal date 1% of the prepaid amount
If pre closure is made after completion of 12 months from the date of loan disbursal Nil
Penal interest 3% per month for delayed amount and for delayed period only
Legal and inspection charges Up to Rs 2,000 per loan
ECS/ NACH bounce Rs 500 per return
MOD registration expenses At actuals
Cheque return Rs 300 per return
Insurance premium At actuals
DD for disbursement At actuals
Collection Pick up charges/ Recovery Visit charges Rs 100 per visit + GST
EC At actuals
Stamp duty At actuals
Document charges Up to Rs 2,000 per loan + GST
Document storage related charges Rs 500 per loan + GST

Eligibility Criteria of Five-Star Business Loan

Five-Star Business Finance Limited offers business loans to various individuals, including:

  • Micro-entrepreneurs
  • Self-employed individuals

Also read: Best Business Loan Eligibility

 

Five-Star Business Loan Documents Required

For partnership firms:

  • Registration certificate, if the firm is registered.
  • Partnership deed outlining the terms and conditions of the partnership.
  • An officially valid document confirming the authority of any individual holding power of attorney to transact on behalf of the partnership firm.

For resident individuals:

  • PAN Card/Form 60 (mandatory)
  • Plus any one of the following documents for identification.
  • Passport
  • Voter's identity Card issued by the Election Commission.
  • Driving License
  • Job card issued by NREGA duly signed by an officer of the state government.
  • Letter issued by the national population register containing details of name and address.
  • Digital KYC, where the customer's identity can be verified through capturing a live photo.
  • Proof of Possession of Aadhar number with Aadhaar number stricken.

Proof of business activity (any two of the following):

  • Name, address, and type of business, such as.
  • Registration certificate (if the business is registered)
  • Certificate or license from municipal authorities under the Shops & Establishments Act
  • Sales and income tax returns
  • CST/GST/VAT certificate
  • Certificate or registration document from tax authorities
  • Importer Exporter Code (IEC) or professional body license
  • Complete income tax return in the sole proprietor's name
  • Utility bills like electricity, water, and landline telephone bills.

Also Read :  Best Business Loan Documents Required

Frequently Asked Questions

Customer's gold ornaments are securely stored in a safe room constructed in compliance with government regulations. These rooms are equipped with electronic surveillance to ensure the protection of the gold.

Shriram Finance provides insurance for the gold kept as collateral by you. This ensures that in the event of theft, the borrower doesn't need to worry about the security of the gold.

The interest rate starts from 11.4% per annum (*p.a.) and you can select a loan tenure ranging from 1 month up to 12 months.

Salaried individuals, self-employed professionals, business owners, and other individuals aged between 18 and 75 years can apply for Shriram Finance Gold Loan.

The minimum age requirement is 18 years, and the maximum age limit is 75 years at the time of loan maturity.