Working capital, expansion, machinery or stock — collateral-free options for traders, manufacturers, retailers, doctors and professionals, pan-India.
Unsecured business loans in India typically go up to ₹75 lakh–₹1 crore from banks and NBFCs, based on turnover, banking and GST data. Larger amounts up to ₹5 crore usually need property or machinery as security. Most lenders fund 10–25% of your annual turnover unsecured.
Unsecured business loan rates currently range from about 12.75% to 24% p.a. — banks at the lower end, NBFCs higher but faster. Secured business loans and CGTMSE-covered MSME loans can be cheaper. Your GST discipline and bank-statement health drive the final rate.
Most lenders want 2–3 years of business vintage, but options exist for younger firms: loans against strong personal profiles, secured loans, equipment finance, or government-backed MSME schemes. WowCred maps your case to lenders whose policy accepts your vintage.
Indicative criteria — we routinely place borderline profiles with the right lender.
| Criteria | Typical requirement |
|---|---|
| Business vintage | 2 – 3 years+ (exceptions possible) |
| Annual turnover | ₹10 lakh+ · higher for larger loans |
| CIBIL / CMR | Personal 700+ · CMR rank 1–6 preferred |
| Age | 23 – 65 years |
| Entity type | Proprietorship, partnership, LLP, Pvt Ltd, professionals |
We collect everything from your doorstep and pre-check it before the bank sees it.
Assumes starting rate of p.a. — open the full EMI calculator for custom rates & schedule.
Lock a lower rate and this drops further. Our average negotiation saves borrowers thousands per year.
Get my real offers →| Charge | Typical range |
|---|---|
| Processing fee | 1% – 3% of loan |
| Prepayment / foreclosure | 0 – 4% · often free after 6–12 months |
| Documentation / legal | ₹2,000 – ₹10,000 (secured loans) |
| WowCred service fee | ₹0 — free for borrowers, always |
🎁 Processing-Fee Refund Offer* — on select disbursals through WowCred, up to 100% of the processing fee is refunded to you after disbursal. Offer terms.
| Lender category | Indicative rate (p.a.) | Best for |
|---|---|---|
| Private banks | 12.75% – 18% | Established firms with clean banking |
| Public-sector banks | 11.5% – 15% | MSME schemes, CGTMSE cover, lowest cost |
| Large NBFCs | 15% – 24% | Speed, flexible documentation |
| Fintech lenders | 18% – 28% | Short-tenure working capital, thin files |
One short form. We do the running around.
2-minute form or a chat with Wow AI. No documents needed to see offers.
⚡ 2 minutesOur engine screens 40+ lender policies; your dedicated manager negotiates the rate down.
⏱ within 30 minCompare your best 3 offers side by side — EMI, rate, fees. Zero pressure, you decide.
🤝 your callDigital KYC and doorstep document pickup. Money lands directly in your bank account.
💸 24–72 hrs*Take a term loan for one-time needs like machinery or renovation (fixed EMI, lower rate). Take an OD/credit line for working capital — you pay interest only on what you use. Many of our MSME clients run both; we structure the mix for the lowest total cost.
For unsecured loans above ~₹10 lakh, most lenders now underwrite on GST returns, so registration helps a lot. Smaller loans can be approved on bank statements and ITR alone. No GST? We'll route you to lenders with banking-surrogate programs.
CGTMSE is a government trust that guarantees MSME loans so banks can lend without collateral — currently covering loans up to ₹5 crore. If you're Udyam-registered, we can target CGTMSE-friendly banks to get you a larger unsecured amount at a lower rate.
Yes. Options include secured loans against property or machinery, loans with a co-applicant, invoice/receivable finance, or NBFCs that weight business cash-flow over personal score. Tell us the real picture — matching messy files is our specialty.
Unsecured business loans: typically 3–7 working days after documents. Secured loans take 2–4 weeks due to property valuation and legal checks. WowCred's pre-check cuts rejections and resubmissions, which is where most delays actually happen.
Yes — interest paid on a business loan is a deductible business expense under the Income Tax Act, reducing your taxable profit. The principal repayment is not deductible. Confirm treatment with your CA for your entity type.
Tell us your turnover and need — get matched to MSME-friendly lenders with offers in hours, not weeks.