NIC Asia Bank Business Loan interest rate 2083
NIC Asia Bank's business loan is priced at 5.57%–7.57% effective in Bhadra 2083: a 5.57% base rate plus a 0%–2% premium. That ranks 6th cheapest of the 19 commercial banks we track for this product. On Rs. 10 Lakh over 60 months the EMI is about Rs. 19,133, plus a 1% processing fee.
- Effective rate
- 5.57% – 7.57%
- Base rate
- 5.57%
- Premium
- 0% – 2%
- Processing fee
- 1%
- Maximum tenure
- 120 months
- Maximum loan-to-value
- 60%
- Rank by rate
- 6 / 19
- Rates effective
- Bhadra 2083
Effective from: 1 Bhadra 2083Source: www.nicasiabank.com/interest-rates/
NIC Asia Bank Business Loan: effective rate 5.57%, EMI from Rs. 19,133 per month. Compare with 18 other banks.
Rate breakdown
Base rate
5.57%
Premium
0%–2%
Effective rate
5.57%–7.57%
Fixed
7.99%
- Processing fee
- 1% (Min Rs. 5,000)
- Prepayment penalty
- 1.32%
- EMI at fixed 7.99%
- Rs. 20,272 · Rs. 10 Lakh, 60 months
- Loan amount
- Rs. 5 Lakh – Rs. 10 Cr
- Tenure
- 12 – 120 months
- Max financing
- 60%
- Age
- 21 – 65 years
Highlights
- Working capital and term loan
- SME subsidised schemes
- Overdraft option
Who is eligible
Registered firm with PAN/VAT and 1 year audited or tax-filed accounts.
Documents you will need
- Citizenship certificate (copy)
- 2 passport-size photos
- Latest 6 months bank statement
- PAN card
- Business plan or projection
- Collateral papers
NIC Asia Bank Business Loan FAQ
What is NIC Asia Bank's current Business Loan interest rate?+
NIC Asia Bank's Business Loan floating rate is base rate 5.57% plus a premium of 0% to 2%, giving 5.57% to 7.57% effective from Bhadra 2083.
What is the EMI on a Rs. 10 Lakh Business Loan from NIC Asia Bank?+
At 5.57% over 60 months, the EMI is roughly Rs. 19,133. Use the calculator above to change the amount or tenure.
Can I prepay a NIC Asia Bank Business Loan?+
Yes. The published prepayment charge is 1.32% of the outstanding balance. Confirm with the branch, as some banks waive it after a minimum period.
