Credit Limit Loan

A Credit Limit Loan provides you with a pre-approved credit limit that you can access as needed. Unlike traditional loans, you only pay interest on the amount you withdraw, making it ideal for handling variable expenses like business growth, medical emergencies, or home renovations.

  • Minimal documentation
  • Interest rates starting at 10.25%*
  • Flexible tenure of up to 5 years
  • Loan amounts ranging from ₹40 lakh to ₹1 crore
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Benefits of Credit Limit Loan

Here are some key advantages of a Credit Limit Loan:

Flexibility

Credit Limit Loans provide flexibility, allowing borrowers to withdraw funds as needed to meet a variety of financial needs.

Pay Interest Only on Utilized Amount

You only pay interest on the amount you withdraw, not on the total credit limit. This can result in significant cost savings compared to traditional loans.

Revolving Credit Structure

As you repay the borrowed amount, the credit limit is replenished, allowing you to withdraw again when needed.

Emergency Access

Credit limit loans offer immediate access to funds, making them a great solution for handling unexpected expenses or emergencies.

Eligibility Criteria for Credit Limit Loan

To qualify for a Credit Limit Loan, you must meet the following requirements:

  • Good credit score and repayment capacity
  • Strong creditworthiness
  • Sufficient business experience and a positive track record
  • Proper documentation and legal certification for the business (if applicable)
  • Consistent income and a solid credit history
  • Operating a profitable business (for business loans)

Documents Required for Credit Limit Loan

The following documents are typically required to apply for a Credit Limit Loan:

Identity Proof

Government-issued documents such as a driver's license or passport.

Address Proof

Utility bills, rental agreements, or other documents proving your current address.

Income Proof

Recent pay stubs, tax returns, or bank statements showing consistent income.

Credit History

A detailed report of your credit activity, including previous loan repayments and outstanding balances.

Business Documents (for business loans)

Business registration documents, financial statements, and other relevant records are needed for business loans.