Working Capital Loan Interest Rate
What is a working capital loan?
The sum of the amount used to cater for day-to-day operations is known as a working capital loan. Without a free flow of capital, it will be difficult for companies to function efficiently. Therefore, to ensure a streamlined operational activity of a business; you can opt for a capital loan.
A working capital loan is availed by business owners, SMEs, MSMEs, Pvt Ltd, Sole Proprietorship, and Limited Liability Partnership to fund the day-to-day operations of a business. This type of fund covers employee's wages and other account payables to manage the cash flow of the business.
Not all the businesses have regular sales or revenue throughout the financial year and hence need additional capital to keep the operations going on without any hassle.
A working capita loan is not meant for business expansion, or asset purchase plants. It is a type of business loan that is used to meet your short-term financial obligations and operational requirements.
Comparison of Working Capital Loan Interest Rate offered by Top Banks
Bank Name Interest Rate
Axis Bank 7.50%
Bandhan Bank 9.00%
Bank of Baroda 9.35%
Bank of India 8.50%
Bank of Maharashtra 9.00%
Canara Bank 8.00%
Central Bank of India 8.50%
City Union Bank 8.50%
DCB Bank 8.50%
Digibank (DBS) 8.00%
Equitas 9.00%
Federal Bank 9.00%
HDFC Bank 7.50%
ICICI Bank 8.00%
IDFC First Bank 9.00%
Indian Bank 8.75%
Indian Overseas Bank 8.45%
IndusInd Bank 9.00%
Kotak Mahindra Bank 7.50%
Punjab & Sind Bank 9.00%
Punjab National Bank 8.50%
RBL Bank 8.50%
South Indian Bank 9.00%
State Bank of India 8.45%
UCO Bank 8.70%
Ujjivan Small Finance Bank 9.50%
Union Bank of India 8.80%
United Bank of India 9.00%
Utkarsh Small Finance Bank 9.50%
YES Bank 8.00%
