Who can apply for the loans?
Proprietorship, Partnership, Public and Private Limited Companies
How soon will I get the loan?
A loan is generally disbursed within 7-10 working days after the submission of complete and correct documents.
What are my loan tenure options?
ABFL provides both short term and long term loans based on the business requirement of the client. This may range from 3 months to 12 years.
How much processing fee would I have to pay?
Processing fee will vary from customer to customer upto 2%.
What are my various loan repayment options?
You can repay through RTGS, NACH or through a cheque favouring Aditya Birla Finance Limited.
Can I directly deposit / withdraw cash from the loan account?
No, you cannot directly deposit / withdraw cash from the loan account. All transactions can be carried out only through cheque / ECS / NEFT / RTGS.
Can I apply for an overdraft facility ?
ABFL can help the customer avail Overdraft facility through its partner banks.
Can I prepay my loan? If yes, what are the charges involved?
Yes, the loan can be prepaid. Please note that prepayment charges may be applicable.
Do I receive a tax benefit from the loan?
Interest paid on the loan is a tax deductible expense.
Can I use the loan for any other purpose?
Loans can be used only for the purpose mentioned in the offer document.
How can I pay the processing fee?
You can pay the processing fee through cheque / NEFT / RTGS facility.
The following questions and answers are provided for general information only and may not be completely accurate in every circumstance, do not purport to be legal/ commercial advice, and are not intended to be binding on ABFL. ABFL shall have right to change them from time to time. Each case would be reviewed independently, and the FAQs will have no binding effect on ABFL.