An Unsecured Business OD is the product, where Bank or NBFC analyse your company financial, banking transactions, GST returns, your previous track record if applicable and on the basis of all these Bank/NBFC  Approve the OD Loan Amount and Set the OD Limit to use. Once you started use, Bank/NBFC charge interest on utilised amount only and deduct interest on fix date each month. In Fix OD, only interest part deducted from your linked account and if you using Dropline OD, in this case, Interest is applicable on Utilised Amount and Principle amount also deduct from your existing Limit. Each month your OD limit will be dropped accordingly.

Unsecured Business OD by The FinBank

An Unsecured Business OD is money you take or borrow from Bank/NBFC for business need or Business purposes. The Bank or NBFCdoes not require you to pledge security or any mortgage, and you can repay the loan through Monthly Instalments (EMIs). So how do lenders approve loans without any collateral in exchange? Well, they assess your repayment capabilities, i.e., your credit history & Cibil record and income when approving your business Loan. Eligible borrowers can get an Unsecured Business Loan for new business requirements and business expansion, upgrading machinery, funding working Capital, revamping the business space.

Features & Benefits

Running a business successfully is a capital-intensive task. All enterprises incur a variety of expenses to ensure business operations run smoothly. Therefore, having easy access to capital at the right time can make all the difference. At The FinBank, we understand these needs and offer the Unsecured Business Loan as a source of capital for all entrepreneurs. Borrowers can enjoy a myriad of cost-effective advantages of taking a Business Loan from us.

	Higher OD Loan Limit Disbursal Amount Business expenditures and working capital require sufficient finance. One of the primary advantages you get with our Business Loan is access to capital up to ₹75 Lakh to fund any business-related expense without compromise.
	Swift and Smooth Disbursal The FinBank loan for business is designed to suit your busy lifestyle and schedule. We offer quick loans online, ensuring you have a hassle-free experience whenever you need funds for your business.
	Collateral free Loans We offer collateral-free loans for your business. This makes it time-efficient and less risky to avail. You can access capital easily without the need to pledge any business or personal assets.
	Interest Rates When you opt The FinBank for business financing, you enjoy a Lowest Interest Rate, Competitive interest rates make our offering a cost-effective solution that you can rely on.
	Simplified Documentation Process To speed up loan processing, you are only required to submit basic Documents. Our simplified documentation process gives you an edge when borrowing from us over other financers, and therefore, acts as another advantage.
	Extended Loan Tenure Loan EMIs should never strain working capital reserves or cause a dip in your business profits. With our Business Loan, you don’t have to worry about this as you can opt for a flexible tenure of up to 48 months. This helps you plan your repayment optimally based on your business’s cash flow.
	Convenience of Online Process You can apply for a loan for your business online and access capital digitally and from the convenience of your home or business. Apply online and get instant approval, receive the funds to your account without any delay.

Good & Smart Ways to Use Unsecured Business OD

You can use Business loan for business to fulfil various needs, such as:

1. Bolster working capital
2. Manage operational cost
3. Upgrade, maintain, repair, or purchase new machinery, software, and other assets
4. Improve business infrastructure
5. Hire trained, skilled staff
6. Expand to newer markets
7. Adopt new marketing or sales strategies
8. Restock inventory
9. Diversify your product/service portfolio
10. Take your business online

Frequently Asked Questions

When should I take out a Business OD for my business?

Ideally any time is good to take out a Business OD Loan for a business. You can apply for this loan when you look for quick money for various purposes including, but not limited to, business growth, expansion, short-term cash flow mismatch etc. But ideally you should opt for business financing when you have a very good credit score. It helps you to get the loan approved in a quick time and with the best interest rate available from the lender.

What are the benefits of a Business Loan?

There can be several benefits available to you depending on the lender. With Unsecured Business Loan, you may enjoy various benefits including flexible repayment plans, collateral free loan, online application process etc.

Are there any exclusive benefits of the Unsecured Business Loan?

The Finbank offers Business Loan offers a high-value sanction of up to ₹10 Lakhs to 5Cr Unsecured Loans. Other perks include online application and loan management, competitive interest rate, fast disbursal etc.

What is a flexible loan tenure?

This is a loan feature that allows you to choose a repayment tenure that ranges up to 48 months. Its flexibility enables you to find suitable EMIs and allows you to tailor loan repayments to suit your business’s finances.

How much capital can I access with the Single Bank Business Loan?

The FinBank Offered  Business Loan capital up to ₹5Cr from different institutions by personal attention. The amount you can avail yourself of depends on you and your company’s financial and credit profile.

How To Apply for Business OD Loan on The FinBank?

Here are the easy steps to apply:

• Step 1: Click on the ‘Apply Now’ button.
• Step 2: Fill in the required details on the loan application form.
• Step 3: If needed,mail all requested documents and call to connect sales team.
• Step 4: After getting your documents, we will evaluate and suggest to apply and give you multiple business Loan Options accordingly.

On successful Application, Personal dicussion, verification, loan agreement, disbursement, the loan amount will be transferred to your bank account.