Urban Money

Bajaj Finserv Business Loan

Bajaj Finserv
4.5

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.

  • Bajaj Finserv
  • Business Loan
Loan Amount:₹25K - ₹45L
Interest Rate:Up to 17%
Processing Fee: Up to 2%
Tenure:5 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Bajaj Finserv

Up to 17%

Up to 2%

₹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
  • 1% on the total withdrawable amount during the initial tenure
  • 0.25% on the total withdrawable tenure during the subsequent tenure
  • 0.59% on the total withdrawable amount during the initial tenure
  • 0.295% on the total withdrawable tenure during the subsequent tenure

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
  • Aadhaar card
  • Pan card
  • Passport
  • Voter ID
  • Driving Licence
Address Proof
  • Passport
  • Electricity bill
  • Telephone bill
  • Lease agreement
  • Trade licence
  • Certificate of trade licence
( Any of these)
Financial Documents
  • Bank account statement of previous 6 months
  • Balance sheet and P&L statement of last 2 years audited by a CA
Business ownership proof Self Employed Professionals
  • In case of sole proprietorship: registration documents
  • Pan Card
  • Municipal tax payment receipt
  • IT returns
Self Employed Non-Professionals
  • Sole proprietor’s registration documents
  • Identity proof of the owner
  • IT returns
  • Past 6 months’ bank statements of the owner
  • Statement of book debt/creditor/periodic stock
  • GST returns
Partnership and Private Limited
  • Partnership agreement
  • Certificate of Commencement
  • Article of Association
  • Memorandum of Association
  • GST returns
  • Registration certificate under Shops and Establishment Act

Secured Business Loan

Identity Proof
  • Aadhaar card
  • Pan card
  • Passport
  • Voter ID
  • Driving Licence
Address Proof
  • Passport
  • Electricity bill
  • Telephone bill
  • Lease agreement
  • Trade Licence
Financial Documents
  • Primary business bank account statement of past 6 months
  • Salary slip of past 2 months (only if applicable)
Business Documents
  • Partnership deed
  • Article of Association
  • Memorandum of Association
  • Primary banking account with a minimum vintage of 1 year
Property Documents
  • Sale deed
  • House tax receipt
  • Electricity bill

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.

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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