Please Note: Fincare Small Finance Bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Fincare Small Finance Bank is a scheduled commercial bank offering banking and financial services to people living in rural and urban areas. The Fincare SFB, also known as a retail bank offers term loans to meet the working capital requirements of businesses, fulfill corporate financial needs, and for business expansion purposes.
Institutional finance is the name given to the business loans or working capital loans offered by Fincare Small Finance Bank. The interest rate offered by Fincare SFB starts from 13% p.a. onwards and can be repaid with the help of flexible repayment options.
Fincare Small Finance Bank Business Loan Details
| Institutional Finance – Interest Rate & Features | |
| Interest Rate | 13% p.a. onwards* |
| Loan Amount/Limit | Up to Rs. 15 crore |
| Processing Fee | Up to 1% of the sanctioned loan amount |
| Margin | Up to 10% |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
*Rate of interest is calculated as per 10-year G-Sec’s most recent 3 months’ daily average yield + 3% – 10% of spread (based on annual reset)
Apply for Business Loan @ low interest rate Apply Now
Micro Loans
Fincare SFB offers Micro Loans for start-up enterprises and for the purpose of livelihood enhancement and better standard of living. Micro loans are also offered to suitable members for their already existing business requirements.
Also Read: What is Micro Loan India?
Micro Loans Interest Rate
The micro loan interest rate offered by SFB depends on the applicant’s profile and business requirements. The factors that determine the micro loan interest rate are loan amount, repayment tenure, applicant’s creditworthiness, financial history, repayment capability and source of income.
Also Know: What is the rate of interest for a business loan & Processing Fee
Overdraft against Property
| Transaction Type | Charges |
| Rack Interest Rate | LAP ROI + 1% or 1 year MCLR* (whichever is high) |
| Processing Fee | 2% of the loan amount |
| Foreclosure Charges | 3% + applicable taxes |
| Annual Limit Renewal Fee | 0.5% of default value |
| Penal Interest | 2% per month – default |
| Stamp Duty and other charges | As per applicable state laws |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
*As on 15th August 2022, Fincare Small Finance Bank’s 1 year MCLR is 12.40%.
FAQs
Q1. What is the business loan rate of interest offered by Fincare SFB?
Ans. The interest rate offered by Fincare SFB ranges between 13% to 15.5% per annum.
Q2. What is the loan amount or limit sanctioned by Fincare small finance bank?
Ans. The maximum loan limit sanctioned by Fincare small finance bank is up to Rs. 15 crore.
Q3. Can I avail small loans from Fincare SFB?
Ans. Yes, you can avail micro loans offered by small finance bank to meet your urgent cash requirements.
Q4. From where can I down application form if I want to avail institutional finance?
Ans. You can simply click on the link below to download application form https://www.fincarebank.com/forms-centre
Q5. How can I contact Fincare SFB in case of any query, complaint or suggestion?
Ans. You can visit the below address, dial Toll Free number or write an email on below mentioned address:
Fincare Small Finance Bank
Corporate Office
Floor 5, Bren Mercury
Kaikondanahalli, Sarjapur Main Road
Bengaluru 560035
Tel: +91 80 4250 4444
Toll Free Number: 1800-313-313
Email: institutionalfinance@fincare.com