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How Business Loan
In Odisha works?

Odisha is the hub for Businesses and many young entrepreneurs are making their dreams alive by setting up their Businesses. If at any point in life you face financial crises for your Business it is good to opt for the business loan.  A Business loan is a type of financial aid provided by Banks and NBFCs to people who are facing financial crises. This loan can either be secured i.e. a loan that requires security to be pledged in banks, or unsecured i.e. a loan that is given based on the creditworthiness of a person.
Business Loans in Odisha can be availed by Business owners who have passed the eligibility criteria. The interest rate for Business Loan starts from 14% for an unsecured business loan and 8.5% for a secured business loan. 


How Business Loan In Odisha works?

Eligibility and Documentation
For Business Loan in Odisha

Age: The age of the borrower should be between 21-60 years. 
Citizenship: The borrower must be a citizen of India
Business Vintage: The business must be running for 3 years. 
CIBIL Score: 700 or higher

Documents required for Business Loans in Odisha are mentioned below. 
1. Adhaar Card
2. PAN Card      
3. Photo     
4. GST Registration       
5. UDHYAM Registration      
6. GST Returns       
7. Financial details of the company      
8. Bank statement for one year      
9. Details of the running loans       


Eligibility and Documentation For Business Loan in Odisha

How to apply for
Business Loan in Odisha?

Mentioned below is the process to apply for Business Loan in Odisha today. 
1. Visit the website of My Mudra and search for the section on Business Loan. 
2. Click on Apply Now for applying for Business Loan. 
3. Get your documentation done online. 
4. Get your business loan approved and disbursed in the shortest interval of time from My Mudra.


How to apply for Business Loan in Odisha?

Which banks to apply for Business Loan in Odisha

Banks and NBFC

Interest Rate

HDFC Bank

14%

Axis Bank

14%

Standard Chartered Bank

14%

IDFC Bank 

15%

ICICI Bank

15%

 

Business Loan EMI Calculator

Loan Amount

Tenure

MO

Interest Rate in %

%

Your Monthly loan emi Rs.23,537

Monthly amount paid to your loan provider

Interest rate in %

Total Payble Amount

Rs.5,64,882

your loan details as specified by you

Loan Amount
Rs.5,00,000
Tenure
24
M
Interest Rate
12
%

Frequently Asked Questions
On Business Loan in Odisha