5 Best Collateral Free Loans for New Business 2022

Table of Contents

1. Omozing.com

Omozing helps make Smart Money Moves for a Lifetime. They strive to get lowest interest rates and best terms for your Online Applications at www.Omozing.com . Currently, we are offering We’ve made business lending smarter, faster and easier by transforming the approval process from stumbling blocks to stepping-stones. This enables borrowers to not just get access to capital, but also understand what areas they need to work on in order to enhance their credit profile. Omozing ensures that Borrowers get a secure, safe and reliable application process that be tracked online.

  • Short Term Loans for working capital needs
  • Medium Term Loans for various business needs

along with ITR Saral Copy, Computation of income statement, Balance sheet, P&L, 3 CA , 3 CD Audit reports along with all schedules.

Omozing Business Loans based on the following:

  1. Unsecured Working Capital Loan
  2. Microloans
  3. Invoice Discounting
  4. GST Surrogate
  5. Revenue Based Finance
  6. Banking Surrogate

5 Reasons to choose Omozing

1. Business Loans from INR 1Lakh to INR 1Crore

Business Loan Interest Rates starting from 0.8% p.m, and Loan amount ranging from INR 1 lakh to INR 1 Crore. The Minimum and maximum repayment period ranges from 1 month to 48 months. 

2. Cutomised Tailor Options

  • Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.
  • You have the freedom to utilise your loan anyway you want, whether for business or for immediate personal needs.
  • Flexible repayment options depending on your specific cash flow and budget, as well as conditions that is beneficial to your position.

3. Lower CIBIL

While most lenders require borrowers to have a CIBIL score of over 750, at Omozing.com provide loans even with 600.  Besides the CIBIL score, we also considers your age, employment status, and net monthly income.

4. Ways to apply

You can apply for a business loan through us by 2 ways:

1. You can download our Mobile Application from Google app store.

2. Apply on portal using out Business Loan link

5. Prompt Loan Disbursal

An easy online application process facilitates speedy verification and disbursal of loan. Get KYC verified from the comfort of your home and have our loan manager take care of an instant transfer of funds to your account.

Documents Required  

Types of Loan

2. Bajaj Finserv Business Loan

Bajaj finserv grants collateral-free loan to the new business setups. You can take a loan from the institution without keeping any assets as security upto 30 Lacs. There is no pressure of repayment and you can take your time for clearing the debt which is maximum up to 8 years. Bajaj finserv also provides online service which will be convenient for you to do the day-to-day transaction.


  • The minimum age must be 22 years.
  • The maximum age should not exceed more than 55 years.
  • The company’s age should not be less than 3 years.
  • Previous year Income Tax Return must be duly filled.
  • A Chartered Accountant should audit the turnover of the business.

Features and Benefits of Collateral-Free Loan

  • Collateral-Free
  • Minimal Documentation
  • Instant Processing
  • High Value Loans
  • Competitive and Flexible Interest Rates
  • Flexible Repayment Options
  • Online Account Management

3. FundsTiger.in

FundsTiger Lending Marketplace for MSME Finance provide loans and other ancillary products to micro, small and medium enterprises (MSMEs) improving small business access to capital and leverage technology and proprietary credit modeling algorithms to accelerate loan origination volume, duration and lower the cost of loan application processing and matching. MSME financing platform that connects MSME Borrowers, Lending Institutions and Partners will open up new financing avenues for the MSME borrowers for faster, easier and simpler loans.

Our consumers come to us for their money requirements, whether they are short-term or long-term, small-ticket or large-ticket, personal, family, or business. FundsTiger team brings a wealth of international financial knowledge to the table and tailors it to your specific needs. Money advice, credit advice, wealth planning, and, of course, credit are all available to our clients.

Faster Funding – We are over 80% faster than most traditional banks and lenders

Total Focus on Your Wins – We leverage our technology and business expertise for your financial success.

Customized Loans – We can structure and customize loans for your unique needs

Customer needs in Forefront – Your needs are our priority. We promise to deliver you with services that are best on our capabilities. By handpicking the personal loan offers based on customer profile, we try to give you the most personalised experience.

Support you can rely upon – Monitor your loans 24/7 and reach out to a super-responsive support service

Relationships, not Borrowers – We believe in building relationships, not just lending to borrowers.

More Value for Money – We offer the best value for money loans when compared to all our competitors

Real-time Customer Support – Our customer support team is fast and efficient to clear all your doubts regarding personal loan eligibility, procedures, offers, documentation and repayment options. We even contact with the respective lender on behalf of you.

Cutomised Tailor Options – Depending on your demands, we may provide quick financing of varying quantities at affordable interest rates.

4. HDFC Bank

HDFC Bank is a trusted banking institution having good collateral free loan schemes. If you are willing to get a loan from an old and trusted institution then HDFC would be the best option for you. The terms and conditions of business loans are:-


  • Grants business loan without collateral between the range of 40-50 Lacs.
  • Processing fee of 0.99%
  • Average interest rate of 15.75%
  • Overdraft facility of 1 Lac to 5 Lacs.
  • Repayment period between 12-48 months.
  • Apply for a business loan using mobile banking and net banking.
  • No Need of any guarantor and security.

Eligibility Criteria 

Minimum: 21 years
Maximum: 65 years (At the time of loan maturity)

Annual Business Turnover: Minimum 40 lakh

Minimum business experience of 5 years with at least 3 years in the current business

Business Profitability Tenure: Minimum 2 years

Minimal Annual Income (as per ITR): Rs. 1.5 lakh per annum

5. Kotak Mahindra Bank

The final option you are left with is to try the Kotak Mahindra Bank Loan which don’t require any guarantor and security. You can get a loan of up to 75 Lacs without mortgaging any movable or immovable assets. The eligibility criteria for getting a business loan from Kotak business loan are as follow:-


  • A business should have a minimum turnover of 40 Lacs.
  • The applicant must be in the business for at least 3 years.
  • Businesses must be of manufacturing, trading or service.
  • The age of the applicant must be between 25 years to 65 years.


  • Processing fee of 2% on loan amount and it is negotiable.
  • Documentation charges of ₹3500 if the loan is less than 10 Lacs.
  • Document charges increases to ₹6000 if the loan amount is more than 10 Lacs.