Business Loan Banks | Interest Rate | Processing Fee | Rating | Loan Amount/Tenure | |
---|---|---|---|---|---|
Bajaj Finserv Business Loan | 9.75% - 30% | Up to 3.45% | ₹25K - ₹45L Tenure(Up to 5 Years) | Details |
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
MSME Loan
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.
Nationality | Indian |
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) |
Work Status | Self-employed |
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.
Nationality | Indian |
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 |
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Foreclosure Charges
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 |
Pre-Repayment Charges
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.
CIBIL Score
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.
Operational History
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.
Annual Turnover
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
Identity Proof |
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Address Proof |
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Financial Documents |
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Business ownership proof | Self Employed Professionals
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Secured Business Loan
Identity Proof |
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Address Proof |
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Financial Documents |
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Business Documents |
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Property Documents |
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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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Financial Calculators
Mutual Fund Scheme
Mutual Fund Sector
Gold & Silver Rate
FAQs
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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