Khatabook Loan Apply Online [Everything You Need To Know]

If you are running a shop or a small business and need a quick loan to manage your cash flow, then Khatabook is the perfect choice for you. It has already become a trusted partner for over 50 million business owners across India in the past year.

Khatabook isn’t just about loans, it’s also an all in one business management tool. So, how can you apply for a loan? What benefits will you receive? Who is eligible to apply, and what will the EMI (Equated Monthly Installment) be? We’ll explore all of these questions here.

Types of Loans

• Short-Term Loans: These are for smaller needs like buying equipment. They need to be repaid in a short time, usually 6 months to a year.
• Long-Term Loans: These are for bigger needs like buying property. They have a longer repayment time, usually 5 years or more.
• Lines of Credit: Think of this like a credit card for your business. You use the money when needed and pay it back gradually.

Why Choose Khatabook for Loans?

• Easy Process: 100% digital and paperless application.
• Low Interest Rates: Starting from just 15% per annum.
• Flexible Repayments: Pay daily EMIs as low as ₹395.
• Quick Disbursement: Get funds directly in your bank account.
• No Hidden Costs: Transparent terms with no processing fees for many loans.

Types of Loans

When it comes to financing your business you need to understand all available loans that can help you make the best decision. Each loan type caters to specific needs and has unique terms and conditions

• Short-Term Loans usually 6 months to a year
• Long-Term Loans usually 5 years or more.
• Lines of Credit – You use the money when needed and pay it back gradually.

Features of Khatabook Loans

• Loan Range: You can get loans from ₹10,000 to ₹3,00,000 depending on your eligibility.
• Tenure: Choose a repayment period that works for you, anywhere from 3 months to 12 months.
• Daily EMIs: Make your payments easily using QR codes.
• Leniency in Repayments: If you miss a day, don’t worry. You have a 4-day grace period to catch up without any penalties.
• Shop Verification: The loan is tied to your shop, and a quick verification visit ensures everything is genuine.

Eligibility Criteria for Khatabook Loans

To qualify, you need to meet these basic requirements.These include an Aadhar Card or Voter ID for identification, proof of your address, bank statements for the last 6 months, income tax returns for the last 2-3 years, financial statements like balance sheets, and proof that your business exists.

• Business Ownership: You must own a shop or business.
• Age Limit: Minimum age is 22 years.
• Business Tenure: Your business should be operational for over 3 years.
• CIBIL Score: A score of 685 or higher is preferred.
• Documents: Aadhaar, PAN, proof of business, bank statements, and financial documents like IT returns.

Step-by-Step Guide to Applying for a Khatabook Loan

Step 1: Download and Register on the Khatabook App

Download Khatabook app from the Google Play Store or Apple App Store. Sign up using your mobile number and complete the OTP verification. Create your profile and add your business details.

Step 2: Explore Loan Options

Navigate to the “Loans” section in the app. Khatabook offers loans for various needs—whether it’s for inventory purchase, shop renovation, or working capital. Review the terms, interest rates, and tenure to find the best option for you.

Step 3: Submit Your Application

Fill out the application form by providing personal and business details. Upload the required documents, including

• Aadhaar and PAN for identification.
• Proof of business ownership.
• Bank statements for the last six months.
• Financial statements like IT returns or profit/loss statements.

Step 4: Verification and Approval

Khatabook’s team will call and visit your shop to verify the details. The process ensures transparency and helps assess your eligibility. Once approved, you’ll receive a confirmation message.

Step 5: Disbursement and Repayment

Once your loan is approved, the funds are credited directly to your bank account. Repayments are easy—Khatabook generates a daily QR code based on your EMI amount, and you simply scan and pay.

Khatabook loan interest rate

If you take a loan of ₹1,00,000, your daily EMI (Equated Monthly Instalment) could be ₹709 per day for 6 months, ₹620 per day for 7 months, ₹553 per day for 8 months, ₹498 per day for 9 months, ₹459 per day for 10 months, ₹424 per day for 11 months, and ₹395 per day for 12 months.

Loan Amount	Tenure (Months)	Daily EMI
₹1,00,000	6	₹709
₹1,00,000	7	₹620
₹1,00,000	8	₹553
₹1,00,000	12	₹395

Benefits of Khatabook for Business Owners

Khatabook loans offer clear benefits like no hidden costs or processing fees, a straightforward 2% monthly interest rate, and easy daily payments via QR code.you also get a 4-day period for complete missed payments

1. Payment Management: Use Khatabook QR codes to collect customer payments effortlessly.
2. Automatic Ledger Updates: Payments are instantly reflected in your digital ledger.
3. Payment Reminders: Send automated SMS reminders using Khatabook Payment Links.
4. Business Growth Tools: Access inventory tracking, profit reports, and GST-ready billing.
5. No Hidden Costs: Khatabook ensures transparency with no hidden charges. You know exactly what you’re paying for.
6. No Processing Fees: No extra charges to process the loan, which makes the process more affordable.
7. Interest Rate: 2% per month (24% per year), which is straightforward and easy to understand.
8. Payment Method: Pay daily using a QR code provided by Khatabook. This method is convenient and easy to manage.
9. Grace Period: If you miss a payment, you get 4 extra days to pay without affecting your CIBIL score or incurring penalties. This provides a little breathing room in case of emergencies.
10. Verification: Khatabook will call and visit your shop before approving the loan to verify your details. This step ensures the legitimacy of your application.
11. Availability: Note that loans may not be available for all pin codes. Check availability before applying.

Tips for a Smooth Application Process

• Ensure your shop is operational during the verification visit.
• Double-check your documents before submission.
• Use a valid bank account for disbursement and repayments.

Common Mistakes to Avoid

• Incomplete Applications: Missing documents can delay approvals.
• Incorrect Details: Ensure all information matches official records.
• Ignoring Loan Terms: Always review the interest rates and repayment schedule.

Conclusion

Khatabook loans are a fantastic option for small business owners in India. They offer a fully digital application process, making it super easy to apply. With daily EMIs and flexible repayment options, Khatabook helps you grow your business without worrying about financial problem.

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