Looking for a business loan without collateral? Here’s everything you need to know about BIL’s self-employed non-professional loan program in simple terms:
Loan Snapshot
✅ Loan Amount: ₹1 lakh – ₹25 lakhs
✅ Interest Rate: 16-18% (based on profile)
✅ Tenure: 1-4 years
✅ Processing Fee: 1.25% + GST
Who Can Apply?
✔ Business Types: Retailers, wholesalers, manufacturers, service providers
✔ Age: 23-65 years
✔ Business Experience: 2+ years
✔ Minimum Income: ₹2.5 lakhs (as per ITR)
Must Have:
- Co-applicant (spouse/blood relative)
- CIBIL score 730+
Key Features
Eligibility Parameters
| Parameter | Requirement |
|---|---|
| CIBIL Score | 730+ |
| Existing Loans | Up to 8 unsecured loans allowed |
| Residence Stability | 2+ years in current city |
| Bank Balance (ABB) | ₹50,000 average for 12 months |
Loan Terms
- FOIR: 75% of income
- Max Tenure: 4 years
- Both rented & owned premises accepted
How to Qualify?
Choose your eligibility method:
1. Banking Surrogate Program
- Avg Bank Balance: ₹50,000 (12 months)
- Credit Margins:
- Wholesale: 6%
- Retail: 8%
- Service: 10%
- Manufacturing: 12%
2. GST-Based Program
- Minimum GST Credits: ₹60 lakhs (12 months)
- Margins:
- Wholesale: 3.5%
- Retail: 6.5%
- Service/Manufacturing: 8%
- Max Tenure: 3 years
Documents Required
📌 Must-Have Documents:
- KYC (PAN/Aadhaar) of applicant & co-applicant
- Photographs
📌 Financial Proofs:
- 2 years ITR with computation
- 12 months bank statements
- 3 years business stability proof
📌 For GST Program:
- 12 months GST returns
How to Apply?
- Check Eligibility: Match CIBIL & income requirements
- Choose Program: Banking or GST-based
- Submit Documents: Online or at branch
- Get Approval: Typically within 3-5 working days
Pro Tip: Maintain consistent bank balances (check dates: 5th, 15th, 20th, 25th, month-end) for better eligibility.
Why Choose This Loan?
✔ No collateral required
✔ Flexible tenure up to 4 years
✔ Suitable for various business types
✔ Both banking & GST-based options
Need business funding? Check your eligibility today!
Note: Terms subject to change. Final approval at lender’s discretion.
