Ujjivan Small Finance Bank Business Loan

Ujjivan Small Finance Bank helps people who usually don't get help from banks. It's like a special bank that gives money help to those who don't have much. They offer different ways to help people with money who are often left out by regular banks.

Table of Contents
Interest Rates
Fees & Charges
Eligibility Criteria
Documents Required
FAQs

Ujjivan Small Finance Bank Business Loan Interest Rates

Also, Ujjivan Small Finance Bank (USFL) is a bank that's officially recognized by the Reserve Bank of India. They offer different types of loans for small businesses at interest rates starting from 12% per year.

Ujjivan Small Finance Bank MSE Loan
Category/Loan Type	Secured Business Loan	Secured Enterprise Loan	Overdraft Against Property	Business Edge Term Loan	Business Edge Overdraft
Interest Rate	17% onwards	14% onwards	14% onwards	13% onwards	12% onwards
Repayment Tenure	36-120 months	36-120 months	12 months	36-120 months	12 months
Loan Amount	Rs. 10 lakh- Rs. 25 lakh	Rs. 10 lakh – Rs. 50 lakh	Rs. 11 lakh – Rs. 50 lakh	Rs. 25 lakh – Rs. 200 lakh	Rs. 25 lakh – Rs. 200 lakh

Please note that the interest rates, fees, and charges mentioned are subject to change and are decided solely by the bank and RBI. Additionally, GST and service tax will be added to the mentioned charges.

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 Ujjivan Small Finance Bank MSE Loan

Fees and Charges
Processing Fees	Up to 2.50% of the loan amount + GST
Documentation Charges	Up to Rs. 10,000 + GST
Stamp Duty	At Actuals
CERSAI Charges	Rs. 50 + GST for loan amount up to Rs. 5 lakh
Life Insurance Premium for Borrower	As per guidelines of insurer

Additional charges such as pre-payment charges, foreclosure charges, penal interest, etc., are applied according to the terms outlined in the Sanction Letter provided by the NBFC (Non-Banking Financial Company).

Also read: Best Business Loan EMI Calculator

Eligibility and Usage for Ujjivan MSE Loan

Ujjivan Small Finance Bank's MSE (Micro and Small Enterprises) loans are available for both registered and unregistered MSEs (Micro and Small Enterprises) in three priority sectors, with minimum annual sales turnover requirements as specified below:

Services: Rs.15 lakh and above
Trading: Rs. 20 lakh and above
Manufacturing: Rs. 18 lakh and above

Also read: Best Business Loan Eligibility

Documentation Required to Avail a Loan from Ujjivan Small Finance Bank

PAN card
Bank statements
Passport-size photographs
Proof of address: Applicants can submit their Aadhaar card, passport, Voter's ID, or driver's licence
Proof of income
Company ID card

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.