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Business Loan - Interest Rates Processing Fees Calculation, Extra Charges | IndianMoney.com

Business Loan - Interest Rates Processing Fees Calculation, Extra Charges | IndianMoney.com

Your business requires working capital to run and function smoothly. Lack of funds may sabotage the ambitious growth plans of your Business. Banks give you money to run your business, which you have to repay with interest, called a business loan.
A business loan is a loan that is availed for purely business purposes. The principal amount along with interest is to be repaid according to the terms and conditions of the business loan.
There are different types of business loans like secured loans, unsecured loans, microloans and so on.
Your business loan can be secured (you give collateral) such as your Company inventory, land or machinery and avail your loan at a lower rate of interest. Your business loan can be unsecured (you do not need to give collateral). You are charged a higher rate of interes
Business Loan interest rates:
Business loans are offered at interest rates ranging from 15-20% a year. A processing fee of up to 1-2% of the loan amount is charged. 

 
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