Our Promoter CA Bhuvan Singhi was National Credit Head of Unsecured Business Loans in Kotak Mahindra Bank and because of his rich experience in Unsecured Business Loan, he has done many turnaround proposals.
Unsecured Business Loans are 36 months repayable, EMI Based Loans. These are easy to get and comfortable to repay if you have a profitable business purpose. The Rate of Interest in this product varies from 14 to 21% and the Median Rate is 18%. Apart from this, there is a Processing Fees of 2% and also the Credit Cover Cost of 1-1.50%.
Although it is costlier than any other funding option, it is still one of the fast selling financial product, because of the fast approval and large quantum of loans available to the businesses.