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Product Overview

Piramal Finance Business Loan is designed to provide funding to eligible businesses for meeting working capital requirements, business expansion and other business-related expenses.

Piramal Finance offers Unsecured Business Loans that do not require collateral. The current official product page lists loan amounts from ₹5 lakh to ₹30 lakh, while the Unsecured Business Loan+ (UBL+) option is available for loans of ₹15 lakh to ₹30 lakh. The maximum repayment tenure is up to 10 years, subject to the applicable product and eligibility criteria.

With fast processing, minimal documentation, and easy eligibility, it is a reliable option for entrepreneurs and individuals looking for quick financial assistance.

Eligibility Criteria

Eligibility is assessed based on the applicant's business profile, income, creditworthiness and documentation.
Key factors considered may include:
Applicant's age
Business vintage and stability
Business income and cash flow
Credit history/credit score
Existing financial obligations
Banking history
Business registration and financial documents
Repayment capacity
Piramal Finance's published business-loan information also indicates that specific products may have different eligibility requirements. Therefore, final eligibility should be determined based on the selected business-loan product and the applicant's profile.

Features & Benefits

???? Loan Amount: ₹5 lakh to ₹30 lakh
???? UBL+ Loan Amount: ₹15 lakh to ₹30 lakh
???? Interest Rate: 16%–25% p.a. for the unsecured business loan product
???? Tenure: Up to 10 years
???? Unsecured Option: No collateral required for the unsecured business loan
???? Online Application: Digital application facility
???? Simplified Documentation
�� Quick Disbursement: Subject to approval and completion of required formalities
???? Business Use: Suitable for eligible business-related requirements
???? Online Calculators: Business Loan EMI and eligibility calculators are available
???? Transparent Charges: Applicable fees and charges are disclosed before loan completion.

Fees & Charges

ChargeDetailsProcessing FeeUp to 5% of loan amount + applicable taxesInterest Rate16%–25% p.a. for the unsecured business loan productPart-Payment Charges5% of amount being repaid + applicable taxesPre-closure Charges5% of outstanding loan + applicable taxesStamp DutyAt actualsCheque Bounce Charges₹500 + applicable taxesEMI Pickup/Collection Charges₹250 per visit + applicable taxesCash Collection Charges1% of collection amount of ₹50,000 and above + applicable taxesChange of Loan Repayment Mode₹500 + applicable taxes
The exact applicable charges may vary by product and will be governed by the Key Fact Statement (KFS), Schedule of Charges and loan agreement.

Documents Required

KYC Documents
PAN Card — mandatory
Aadhaar Card
Driving Licence
Voter ID
Passport
Utility bills such as telephone/electricity bills
Other accepted identity/address documents
Income & Business Documents
ITR for the previous 2 years, with computation
CA-audited financial statements, wherever applicable
Last 6 months' primary bank statements
Business registration details
Business PAN and address proof, where applicable
Additional documents may be requested depending on the applicant's business and loan profile.

FAQs

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The current unsecured business-loan product offers up to ₹30 lakh. The UBL+ product is also listed for loans from ₹15 lakh to ₹30 lakh.

The current official unsecured business-loan page lists interest rates of 16%–25% p.a.

The unsecured business-loan page indicates a maximum tenure of up to 10 years. Specific products may have shorter tenures.

For the Unsecured Business Loan, collateral is not required. Piramal Finance also offers separate secured business-loan products where collateral may be required.

The funds can be used for eligible business-related requirements such as working capital, purchasing machinery, employee payments, marketing activities and business expansion.

Yes, Piramal Finance has a separate Startup Business Loan product. Its current published information states that the business should generally have a minimum vintage of 1 year for that product.

Basic KYC, business/income documents, ITRs and bank statements are among the documents that may be required. The exact list depends on the applicant and product.

Terms & Conditions

Business Loan approval is subject to Piramal Finance's eligibility and credit assessment.
The final loan amount, interest rate and tenure depend on the applicant's profile and selected product.
Processing fees and other applicable charges may attract taxes.
Prepayment and pre-closure charges may apply as per the applicable product terms.
Business and income documents may be verified before sanction and disbursement.
Final applicable terms will be mentioned in the KFS, sanction letter and loan agreement.
Piramal Finance reserves the right to approve or reject an application based on its credit policy.
Terms and conditions apply.

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