Posted 02 Jan, 2019 | Finance
What is the best way to choose an affordable business loan in Chennai?Add Answer
Chennai is the largest industrial and commercial hub in South India. Therefore, the requirement of a business loan in Chennai is high. When an entrepreneur plans to take a loan, he has many things on his mind one of which is the affordability of the loan. Looking at the major requirement of an affordable business loan in Chennai, Lendingkart provides fair Interest rates with no collateral as security.
When looking at loan options, you should compare the interest rate offered by the lending institution, along with the additional benefits and features offered, like- flexible repayment tenure, collateral free loan, no requirement of guarantor or co-applicant, faster approval, line of credit feature, versatile utilities and minimal documentation.
Based on the eligibility criteria and the extent to which you fulfill them, your chosen lending institution will decide on a rate of interest and lending terms (amount to be granted, tenure etc.) for you. Chances of getting a low interest rate for your loan become less when your chosen lender has stringent eligibility criteria and lending terms. This is the reason why a lot of people opt for business loans from NBFCs.