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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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IIFL Finance offers three popular loan categories including Insta loan, Fast Track Loan and Business loan. The company provides SME business loans at competitive interest rates and offers loans with minimal documentation requirements. Some of the noteworthy features and benefits of the business loans are:
Interest rate | 18% onwards |
Loan Amount | Business loan up to Rs. 50 lakhs Insta Loan up to Rs. 15 lakhs POS Loan up to Rs. 50 lakhs |
Repayment Tenure | 12 months – 36 months |
Collateral | Not required |
Processing Fee | 3% of the loan amount + GST |
Additional noteworthy points of IIFL business loans:
Particulars | Fees & Charges |
Interest rate range | Starting from 16% up to 30% |
Cheque Return Charges | Rs. 500/- per instance + GST |
Cheque Original Swapping Charges No-dues Certificate | Rs. 500/- per instance + GST |
Duplicate Statement / Duplicate Amortisation / Original Repayment Schedule | Rs. 200/- per instance + GST |
Penalty Interest | 24% per annum |
Authentic Prepayment / Original Foreclosure (1-6 months of EMI Repayment) | 7% + GST (Approval required) |
Original Prepayment / Foreclosure (7-24 months of EMI Repayment) | 5% + GST |
Actual Prepayment / Foreclosure (more than 24 months of EMI Repayment) | 4% + GST |
Original Loan Cancellation Process | Interest will be applicable for the Intermediate period from the date of disbursement to the date of loan cancellation |
Eligibility Criteria:
Following eligibility criteria are applicable for a business loan from IIFL Finance:
A CIBIL™ score is a three digit number between 300 and 900 that gives potential lenders a quick idea of your loan
Credit repair involves rebuilding your credit health to a level where you become eligible for loans.
A credit report is a history of your credit behaviour and contains detailed information on all your loan and credit
A credit rating - also known as a credit score - is a 3 digit number between 300-900 that gives potential lenders
A bad credit score is generally one that is less than 650. A credit score is a three digit number in the range of 300-900
Yes. In fact, a credit score of 850 is very good! Most lenders look for a minimum credit score of 750 to approve loans
There are several ways in which you can improve your credit score. Depending on how good or bad your score is,
Is 800 a good credit score? Yes. In fact, a credit score of 800 is very good! Only a small percentage of people reach,
Is it possible to obtain a free credit check or credit report? The answer is yes and no!
Your CIBIL™ Score plays an important role in getting loans and credit cards sanctioned, because it gives lenders
It is not possible for anyone, either lenders or borrowers, to get a CIBIL™ score or credit report for free.
It is important to know that there is no such thing as a CIBIL™ defaulter list. There used to be a defaulter list earlier,
There is really no number that can be established as the average credit score in India. Many people see regular
You can repair your credit absolutely free if you do it yourself! However, many people choose to get professional help
First, it is important to note that there is no ‘Defaulters List’ that is maintained or circulated by CIBIL™ or any of the other
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In India, the best credit score to have is one that is 750 or above. The three credit rating agencies that operate in India
Is a credit score of 700 good? While it is not a very bad score, it is not good enough to automatically qualify
It is difficult to get a loan with a credit score of 650. Most banks look for a minimum score of 750 when deciding
It is not likely that you will get a loan with a credit score of 600. Most banks look for a minimum score of 750
It is difficult to get a loan with a credit score of 550. Most banks look for a minimum score of 750 when deciding
A poor CIBIL™ score can increase your financial problems and make it difficult to access credit, whether as a loan or credit.
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