Looking for a business loan from IIFL Finance Ltd.? Here’s a simple breakdown of their key policies to help you understand eligibility, loan amounts, and other important details.
📌 Key Eligibility Criteria
✔ Credit Enquiry Limit – Max 20 enquiries with USL (Unsecured Loan) lenders & 30 total in the last 6 months.
✔ Age – Between 24 to 65 years.
✔ Loan Tenure – 12 to 36 months.
✔ First-Time Borrowers (FTB) – Can get up to ₹10 Lakhs.
✔ Minimum CIBIL Score – 700+.
✔ CMR (Credit Market Risk) Score – Up to 7.
💼 Business Financials & Loan Amount
Loan Amount Based on:
- Average Bank Balance (ABB) – Up to ₹30 Lakhs
- GST Turnover – Up to ₹35 Lakhs
- DSCR (Debt Service Coverage Ratio) – Up to ₹75 Lakhs
Note: The maximum loan amount is ₹50 Lakhs.
Other Financial Conditions:
✔ Bank Turnover (BTO) – Minimum 70% of declared turnover.
✔ Credit Card Utilization – Up to 98% allowed.
✔ ABB to EMI Ratio – Minimum 1x required.
✔ Unsecured Loan Outstanding (USL OS) – Max 20% (or 15% if tagged as caution).
✔ Overall Outstanding Loans –
- Traders – Max 60% of turnover
- Manufacturers & Service Providers – Max 80% of turnover
✔ Annual Obligation (AO) to Turnover (TO) Ratio – - Normal Profile – Max 20%
- Caution Profile – Max 12.5%
✅ Summary
IIFL Finance offers flexible business loans with easy-to-meet criteria. Whether you need funds based on bank balance, GST turnover, or DSCR, you can get up to ₹50 Lakhs with a 12-36 month repayment option.
Check your eligibility today and grow your business! 🚀
