Bajaj Finserv Business Loan
Bajaj Finserv offers secured and unsecured business loans to MSMEs with interest rates ranging from 9.75% to 30% per annum and repayment terms of up to 96 months. Loan amounts range from Rs. 2 lakh to Rs. 80 lakh, catering to working capital needs, business expansion, machinery purchases, and more. The three loan variants—Term Loan, Flexi Term Loan, and Flexi Hybrid Loan—provide flexibility, with Flexi options allowing for multiple withdrawals and part-prepayments without extra charges. Applications are processed online, and funds are typically disbursed within 48 hours of approval.
Eligibility requires a CIBIL score of 685 or higher, a minimum of 3 years in business, and applicants must be Indian citizens aged 24 to 80 years. Bajaj Finserv also offers discounted interest rates on small-ticket loans for women borrowers, supporting women-led businesses.
Table of Contents
Bajaj Finserv Business Loan Interest Rate, Fees & Other Charges
Applicable Fees and Charges
| Fee Type | Applicable Charges |
|---|---|
| Interest Rate | 9.75% – 30% per annum |
| Processing Fee | Up to 3.54% of the loan amount (inclusive of taxes) |
| Documentation Charges | Up to Rs. 2,360 (inclusive of taxes) |
| Flexi Fee (Flexi Loan types) | Rs. 999/- to Rs. 16,999/- (based on loan amount) |
| Prepayment Charges | Up to 4.72% of the outstanding or pre-paid amount (depends on loan type) |
Loan Variants Comparison
| Loan Variant | Description | Flexibility | Withdrawals | EMIs | Part-Prepayment Charges | Flexi Charges |
|---|---|---|---|---|---|---|
| Flexi Hybrid Loan | Flexibility in borrowing/repaying within the loan limit | Easily withdraw and prepay multiple times | Unrestricted withdrawals from limit | Interest-only EMIs for initial tenure | No charges | Nominal Flexi charges applicable |
| Flexi Term Loan | Flexibility in borrowing/repaying within the loan limit | Easily withdraw and prepay multiple times | Unrestricted withdrawals from limit | Fixed EMIs on withdrawn amount | No charges | Nominal Flexi charges applicable |
| Term Loan | Fixed loan amount for a fixed term | Fixed loan structure, less flexible | Single disbursement | Fixed EMIs for the disbursed amount | Nominal charges | No Flexi charges |
Penal and Other Charges
| Charge Type | Applicable Charges |
|---|---|
| Penal Charge (delayed payment) | Rs. 40 per day for delayed installments |
| Stamp Duty | As per respective state laws |
| Cash Collection Handling Charges | Rs. 177 per collection (if paid in cash via collection agent) |
| Cash Deposit Charges | Rs. 50 per cash payment (when paid at branch offices) |
| Platform Fees | Rs. 11 per digital payment |
| Broken Period Interest/Pre-EMI | Charged based on days between disbursal and first EMI |
| Switch Fee | Up to 1.18% of the loan amount (in case of loan switch) |
| Legal and Incidental Charges | Recovery of legal charges, if applicable |
Features & Benefits of Business Loan
- Loan amounts from Rs. 2 lakh to Rs. 80 lakh with interest rates from 9.75% to 30% per annum
- Flexible repayment terms up to 96 months
- Three loan variants: Term Loan, Flexi Term Loan, and Flexi Hybrid Loan
- Flexi options allow multiple withdrawals and part-prepayments without extra charges
- Online application with fast approvals and loan disbursement within 48 hours
- No collateral required for unsecured loans
- Special discounted interest rates for women borrowers
Bajaj Finserv Business Loan EMI Calculator
Eligibility Criteria Required to acquire business loan
The eligibility requirements to avail Bajaj Finserv Business Loans are:
- Indian nationality
- Business vintage of at least 3 years
- CIBIL score of 685 or higher
- Self-employed individuals
- Age between 24 and 80 years (applicable at loan maturity)
Also Read: What is Secured Business Loan?
Documentation Required for Bajaj Business Loan
The following is a list of the documents required for your business loan application:
KYC Documents
- Passport-sized photograph (not older than 6 months)
- PAN Card of both the business and the applicant.
- Identity Proof (Driving License/Passport/Voter’s ID Card/Aadhaar Card)
- Address Proof of the applicant (Driving License/Passport/Voter’s ID Card/Aadhaar Card)
- Address proof of the business
Bank Statements: Bank and GST statements (last 6 months)
Income Documents
- ITR along with Computation of Income (last 2 years)
- Profit loss statements (last 2 years)
- Audited balance sheet
Proof of Business Continuation
- Establishment Certificate
- Sales Tax Certificate
- ITR
- Trade License
Other Documents
- Certified copy of Partnership deed or Sole Proprietorship Declaration
- Certified copy of MoA & AoA, and Board Resolution
How to apply for a Business Loan in Bajaj Finserv?
You can apply for a Bajaj Finserv Business Loan, by either visiting their nearest branch or going to the website and applying for the loan online.
Online Application Process
- Online Application: Visit Bajaj Finserv Website and instantly apply by clicking the “Apply Now” button for an instant business loan online.
- Enter your required details in the Application form and click on the submit button. An Bajaj Finserv representative will contact you shortly.
Offline Application Process
Download the loan application form from the website, fill it out and submit it at your nearest Bajaj Finserv branch for further processing.
What are the Factors Responsible for business Loan
Bajaj Finserv provides business loans at an interest rate starting from 16% per annum. Securing a business loan with favorable interest rates and a flexible repayment period is crucial for applicants.
Given the typically substantial loan amounts associated with business loans, various factors come into play in determining the interest rates for Bajaj Finserv Business Loans.
These are:
- The Credit Score of the business owner or the company.
- Category of the business
- Business Vintage
- Profit and Annual Turnover of the business
Frequently Asked Questions
Q: What is the loan amount range offered by Bajaj Finserv Business Loan?
Bajaj Finserv Business Loan offers amounts ranging from Rs. 2 lakh to Rs. 80 lakh.
Q: What are the interest rates for Bajaj Finserv Business Loan?
Interest rates for Bajaj Finserv Business Loan range from 9.75% to 30% per annum, depending on the loan type and eligibility.
Q: What are the repayment terms for Bajaj Finserv Business Loan?
Bajaj Finserv Business Loan provides flexible repayment terms, with tenures available up to 96 months.
Q: What types of loans are available under Bajaj Finserv Business Loan?
Bajaj Finserv Business Loan offers Term Loan, Flexi Term Loan, and Flexi Hybrid Loan options to suit various business needs.
Q: Are there prepayment or withdrawal charges for Bajaj Finserv Business Loan?
No, Bajaj Finserv Business Loan’s Flexi variants allow part-prepayment and multiple withdrawals without extra charges.
Q: How long does it take to receive funds from Bajaj Finserv Business Loan?
Bajaj Finserv Business Loan typically disburses funds within 48 hours of loan approval.
Q: What is the required CIBIL score for Bajaj Finserv Business Loan?
To qualify for a Bajaj Finserv Business Loan, a CIBIL score of 685 or higher is required.
Q: Are there special offers for women borrowers under Bajaj Finserv Business Loan?
Yes, Bajaj Finserv Business Loan offers discounted interest rates on small-ticket loans for women borrowers.
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