Bajaj Finserv Business Loan
Bajaj Finserv is among the leading NBFCs that offer business loans at an interest rate of 17% p.a. onwards. The maximum loan amount offered is up to Rs. 45 lakh with repayment tenure up to 60 months. Business loans from Bajaj Finserv can be availed for business expansion purposes, enhancing cash flow, buying equipment/machinery, to meet working capital requirements, etc.
Features and Benefits of Bajaj Finserv Business Loan
Check out the features and benefits of both secured and unsecured Bajaj Finserv Business Loans.
Bajaj Finserv Unsecured Business Loan
|Reduced EMI||Bajaj Finserv allows you to reduce your EMI by up to 50%. With a unique Flexi facility, you can pay up to 45% lower EMI for the initial part of the tenure.|
|Zero Collateral||While taking a loan, one of the common fears is the risk of locking assets or property. Bajaj Finserv provides high-value business loans without pledging any assets.|
|High-Value Loan||With Bajaj Finserv, you can finance your business with a high-value loan of up to INR 45 Lakhs.|
|Flexible Repayment Tenure||Bajaj Finserv allows you to split your EMIs according to your repayment capacity over a flexible tenure going up to 7 years.|
|Exclusive Pre-Approved Offers||Pre-approved business loans are instant loans offered only to select customers. You must maintain a good credit score and repayment history to qualify for Bajaj Finserv pre-approved offers.|
Types of Bajaj Finserv Unsecured Business Loans
Start-up Business Loan
A Start-up Business Loan at Bajaj Finserv provides financial assistance to start a business or expand the current enterprise. It offers their borrowers collateral-free financing and nominal interest rates.
- Easy documentation
- Economical interest rates (starting from 17% per annum)
- Swift approvals within 24 hours
- Low EMIs
- Zero collateral
- Flexible repayments
Working Capital Loan
A working capital loan acts as a cash cushion and manages sale fluctuations in the market. This loan provides financial assistance for day-to-day operations. It is useful for SMEs and seasonal businesses who require financing to meet their operating costs.
- Instant approvals
- Unique pre-approved loans
- You can access your loan related information through the customer portal
The MSME loan is customised to provide financial help for business expansions and working capital requirements. With Bajaj Finserv, you can avail funds up to INR 45 Lakhs at attractive interest rates. The Flexi facility allows the borrower to reduce their EMIs by 45% and improve the financial management.
Bajaj Finserv Secured Business Loan
|High-Value Finance||With Bajaj Finserv, you can avail a high-value business loan of up to INR 75 Lakhs by leveraging the market value of your property. Both salaried and self-employed individuals can avail of a secured loan.|
|Flexible Tenure||Bajaj Finserv offers flexible repayment tenure going up to 12 years.|
|Multiple Property Mortgage||Bajaj Finserv Business Loan allows you to mortgage multiple properties. You can avail a high loan to finance all your business needs.|
|Flexi Loan Facility||Flexi Loan facility is a feature that allows you to borrow from your approved sanction freely and repay when you have extra funds. You can lower the EMI up to 45% with the unique Flexi loan facility.|
Bajaj Finserv Business Loan: Eligibility Criteria
Unsecured Business Loan
Bajaj Finserv offers unsecured business loans based on the borrower's financial standing, business vintage and credit score.
|CIBIL Score||Above 685|
|Business Vintage||At least 3 years|
|Age||24 years - 70 years (the age on the date of maturity shouldn’t be above 70)|
Secured Business Loan
Interest rates for a secured business loan are more affordable compared to unsecured business loans. Bajaj Finserv offers secured business loans with flexible repayment tenure and swift approvals.
|CIBIL Score||Above 720|
|Business Vintage||Minimum 3 years|
|Job Status||Self employed/salaried|
|Age||18 years - 80 years (the age on the date of maturity shouldn’t be above 80)|
|Property ownership||You must own a residential/commercial property in the cities where Bajaj Finserv operates|
Bajaj Finserv Business Loan: Fees and Charges
|Fees and Charges||Unsecured Business Loan||Secured Business Loan|
|Processing Fee||Upto 2% of the loan amount + applicable taxes||Upto 2% of the loan amount + applicable taxes|
|Bounce Charges||Upto INR 3,000 (including taxes)||N/A|
|Penal Interest||2% on the EMI outstanding||2% on the EMI outstanding|
|Document processing charges||INR 2,000 + applicable taxes||INR 2,360 (inclusive of taxes)|
|Stamp duty||On actuals||On actuals|
|Legal and technical||N/A||INR 6,000|
Annual Maintenance Charges
|Type of Loan||Unsecured Business Loan||Secured Business Loan|
|Flexi Term Loan||0.25% + applicable taxes on the withdrawable amount||0.295% + applicable taxes on the withdrawable amount|
|Flexi Hybrid Loan||
|Type of Loan||Unsecured Business Loan||Secured Business Loan|
|Term loan/advance EMI/ step-up monthly instalment||4% + applicable taxes on the outstanding loan payable||4.72% + applicable taxes on the outstanding loan payable|
|Flexi term loan||4% + applicable taxes of total withdrawable amount as per the repayment schedule||4.72% + applicable taxes of total withdrawable amount as per the repayment schedule|
|Flexi hybrid loan||4% + applicable taxes of total withdrawable amount as per the repayment schedule||4.72% + applicable taxes of total withdrawable amount as per the repayment schedule|
|Time Period||Unsecured Business Loan||Secured Business Loan|
|More than one month from the date of disbursal of the loan||2% + taxes applicable on the amount prepaid||2.36% + taxes applicable on the amount prepaid|
Bajaj Finserv Business Loan Interest Rates
Bajaj Finserv provides competitive interest rates for both secured and unsecured business loans.
|Type of Loan||Interest Rates|
|Unsecured Business Loan||17% onwards|
|Secured Business Loan||13%-16%|
Factors Affecting Bajaj Finserv Business Loan Interest Rates
Bajaj Finserv offers economical interest rates to help small and medium businesses grow. The interest rates vary for every individual based on the factors explained below.
Nature of Business
The nature of business is a primary factor that affects the interest rate of a business loan. It determines the kind of business activity undertaken. While deciding the interest rate on your business loan, the Bajaj Finserv evaluates the nature of your business to determine its profitability.
The CIBIL score determines the creditworthiness of an individual. A minimum credit score of 685 will help you avail a lower interest rate on your business loan.
A well-established business with a long operational history is likely to attract nominal interest rates. Business loans from Bajaj Finserv require you to have your business operational for at least three years.
The financial stability of the business determines your repayment capacity. A high annual turnover will help you secure the most affordable business loan interest rates.
Bajaj Finserv Business Loan: Documents Required
Unsecured Business Loan
|Business ownership proof||Self Employed Professionals
Secured Business Loan
Bajaj Finserv Business Loan EMI Calculator
Bajaj Finserv provides you with an EMI calculator that helps calculate the estimated monthly instalments on your business loan. Enter the loan amount, interest rate and loan tenure in the allocated spaces on their website to get the estimated figures.
Note: The results generated by the online calculator are indicative. Bajaj Finserv won’t take up any responsibility for the inaccuracy of the calculator.
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Bajaj Finserv's Other Products
Business Loan By Other Banks
- Axis Bank Business Loan
- Bank of Baroda Business Loan
- ICICI Bank Business Loan
- HDFC Bank Business Loan
- IndiaBulls Business Loan
- Canara Bank Business Loan
- Union Bank of India Business Loan
- CITI Bank Business Loan
- YES Bank Business Loan
- DHFL Business Loan
- Federal Bank Business Loan
- IndusInd Bank Business Loan
- State Bank of India Business Loan
- Punjab National Bank Business Loan
- IDFC FIRST Bank Business Loan
- Hero FinCorp Business Loan
- IDBI Bank Business Loan
- Digikredit-SME Corner Business Loan
- Kotak Bank Business Loan
- Loantap Credit Products Private Limited Business Loan
- Poonawalla Fincorp Limited Business Loan
- Ujjivan Small Finance Bank Business Loan
- Shriram Urban Co Operative Bank Limited Business Loan
- Muthoot Finance Ltd Business Loan
- Piramal Housing Finance Business Loan
- Fullerton India Business Loan
- RBL Bank Business Loan
- Standard Chartered Bank Business Loan
- Tata Capital Financial Services LTD Business Loan
- Tata Capital Housing Finance Limited Business Loan
- Housing Development Finance Corporation Business Loan
- IIFL Finance Business Loan
- DCB Bank Business Loan
- Edelweiss Financial Services Business Loan
- INDIFI Business Loan
- INTELLEGROW Business Loan
- Bank of India Business Loan
- Aditya Birla Finance Limited Business Loan
- HDFC Sales Business Loan
- Capri Global Business Loan
- Capital First Ltd. Business Loan
- NeoGrowth Business Loan
- L&T Finance Business Loan
- UGRO Capital Business Loan
- Deutsche Bank Business Loan
- Clix Capital Business Loan
- FT Cash Business Loan
- HSBC Business Loan
- Lending Kart-Nbfc Business Loan
From refinancing to reducing your interest, we have the answers right here.
Is part payment allowed in Bajaj Finserv?
Yes, Bajaj Finserv allows the borrower to make part-prepayments. However, you might have to pay the associated fees and charges to make partial prepayments.
What is loan foreclosure?
When an applicant decides to make a complete payment towards the borrowed amount before maturity, it is termed as loan foreclosure.
What is the interest rate of business loans in Bajaj Finserv?
Bajaj Finserv offers competitive business loan interest rates based upon certain factors such as business stability, CIBIL score and financial stability. Interest rates start from 13%.
What is the minimum age requirement to apply for a Bajaj Finserv business loan?
The applicant must be at least 21 years old at the time of loan application.
Does Bajaj Finserv check for CIBIL score for business loans?
Yes, Bajaj FInserv takes CIBIL score into consideration to determine the creditworthiness of the applicant. Additionally, it allows the lender to determine the interest rate at which business loan can be sanctioned.
What is the maximum and minimum business loan amount I can get from Bajaj Finserv?
Bajaj Finserv offers business loans ranging upto INR 45 Lakhs.
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