Are you seeking a flexible and hassle-free business financing solution? Bajaj Finance offers business loans up to a substantial ₹80 Lakhs, without collateral and with minimal documentation. These loans can be repaid over a tenure of up to 96 months, and you can make partial or complete prepayments at your convenience. Bajaj Finserv offers a diverse business loan portfolio that includes options such as Flexi Term Loan, Flexi Hybrid Loan, and Term Loan, helping you to select the loan type that best aligns with your unique business needs and preferences.
Bajaj Finance Limited is a subsidiary of Bajaj Finserv. Bajaj Finance specializes in providing consumer finance, while Bajaj Finserv has a more diversified focus, including insurance, investment management, and retail financing.
Highlights of Bajaj Finance Business Loan
The table below shows the main overview of the Bajaj Finserv business loan:
| Features | Details |
|---|---|
| Rate of Interest | 9.75% – 30% p.a. |
| Loan Amount | ₹80 Lakhs |
| Repayment Tenure | 12 – 96 months |
| Processing Fee | Up to 3.54% of the loan amount |
| Prepayment Charges | 4.72% on the outstanding loan amount |
| Minimum CIBIL Score | 685 or above |
| Disbursal Time | 48 hours of approval |
Get Business Loan Online Up to ₹ 2 Crore
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Bajaj Finance Business Loan Interest Rates
The interest rates for Bajaj Finserv business loans can differ depending on the type of loan. Below are the specifics of Bajaj business loan interest rates for various schemes:
| Loan Type | Interest Rates |
|---|---|
| Flexi Term Loan, Flexi Hybrid Loan and Term Loan | 9.75% to 30% p.a. |
Bajaj Finance Business Loan Fee & Charges
The table below gives a detailed overview of the fees and charges applicable to Bajaj Finance Business Loan:
| Processing fee | Up to 3.54% of the loan amount (inclusive of applicable taxes) |
| Foreclosure charges | 4.72% (inclusive of applicable taxes) on the outstanding loan amount/ of the total withdrawable amount |
| Part prepayment charges | 4.72% (inclusive of applicable taxes) of the principal amount to be prepaid |
| Penal interest | ₹40 per day per instalment |
| Flexi fee | Flexi Term Loan (Flexi Dropline): ₹999 (inclusive of applicable taxes) Flexi Hybrid Loan (inclusive of applicable taxes):
|
| Instalment default charges | ₹450 per month |
| Cash collection handling charges | ₹177 (inclusive of applicable taxes) |
| Cash deposit charges | ₹50 (inclusive of applicable taxes) |
| PG facility charges | ₹11 (inclusive of applicable taxes) |
| Bounce charges | Up to ₹1,500 |
| Documentation processing charges | ₹2,360 (inclusive of applicable taxes) |
| Annual maintenance charges | Up to 0.413% (inclusive of applicable taxes) for the Flexi Term Loan & 1.18% (inclusive of applicable taxes) of the withdrawable amount for the Flexi Hybrid Loan |
| Switch fees | Up to 1.18% of the loan amount (inclusive of applicable taxes) |
| Stamp duty | As per State laws |
Types of Business Loans Offered By Bajaj Finance
Bajaj Finserv offers several business loans to help your business grow:
- SME/MSME loan: Get approved in 24 hours, with a limit of Rs. 50 lakh. It has a flexi option so you can borrow as needed and repay in EMIs or pay the principal at the end. This loan is for self-employed professionals, non-professionals, and businesses like partnerships and private limited companies.
- Business loan for women: This loan offers quick approvals, a limit of Rs. 80 lakh, and a flexi option. It’s available to self-employed professionals, non-professionals, and businesses like partnerships and private limited companies.
- Machinery loan: Get funding up to Rs. 50 lakh to repair, replace, or upgrade machinery. This collateral-free loan is for existing Bajaj Finserv customers and businesses like private limited companies, partnerships, proprietorships, and self-employed professionals.
- Working capital loan: This loan helps with short-term expenses or cash flow. It offers up to Rs. 80 lakh and features pre-approved options like top-up loans and discounts. It’s available for businesses like limited companies, partnerships, proprietorships, and self-employed professionals.
Unique Variants of Bajaj Finance Business Loan
Bajaj Finserv understands that businesses have varying financial needs. That’s why they offer three distinct business loan variants to give you the flexibility you need.
Here is a comparative table showing the variants of Bajaj Finance Business Loan:
| Feature | Flexi Hybrid Loan | Flexi Term Loan | Term Loan |
|---|---|---|---|
| Flexibility | Most Flexible | More Flexible | Least Flexible |
| Repayment | Borrow & repay as needed | Borrow & repay as needed | Fixed EMIs |
| Interest | Pay interest only on the utilized amount initially | EMIs cover interest & principal on the withdrawn amount | EMIs cover interest & principal on the entire loan |
| Withdrawals | Unlimited within sanctioned limit | Unlimited within the approved limit | One-time disbursement |
| Early Repayment | No penalty, a small flexi fee | No penalty, a small flexi fee | Small penalty |
| Flexi Charges | Yes | Yes | No |
Bajaj Finance Business Loan EMI Calculator
This tool helps you estimate your monthly loan payments (EMIs) before you borrow. It’s easy to use – you just enter the loan amount, interest rate, and repayment period. The business loan calculator then shows your monthly EMI, including how much goes towards interest and principal. You can also adjust the repayment period to find a plan that fits your budget.
[bajaj-finance-emi-calculator]
Benefits of Using a Business Loan Calculator:
- Plan your finances: Estimate your monthly payments beforehand.
- Choose the right loan: Compare different loan options based on EMI amounts.
- Find the best fit: Adjust loan terms (amount, interest rate, repayment period) to see how they affect your payments.
Eligibility Criteria for Bajaj Finance Business Loans
Below are the eligibility criteria for Bajaj Finserv business loan:
- The applicant must be a self-employed Indian national.
- The applicant should be at least 24 years old (18 years for non-financial applicant/co-applicant/guarantor) at the time of applying for the loan and should not exceed 80 years when the loan matures.
- The business must have been in operation for at least 3 years.
- The minimum CIBIL score required is 685 or higher.
Documents Required for Bajaj Finance Business Loan
When applying for a business loan with Bajaj Finance, you will need to submit the following documents:
- A PAN Card is a mandatory document
- Proof of Identity: Passport, Aadhar Card, Voter ID, Driving Licence, PAN Card, Letter from NPR, NREGA Job Card
- Proof of Address: Electricity Bill, Telephone Bill, Passport, Trade License, Lease Agreement
- Financial Documents: At least the last 1 year’s ITR, Bank Account Statements, Balance Sheet, and Profit & Loss Statement.
Steps to Apply For Bajaj Finance Business Loan
Follow the below-mentioned steps to apply for Bajaj Finance Business Loan:
Step 1: Visit the Bajaj Finserv website and locate the “Apply” button for business loans.
Step 2: Enter your 10-digit mobile number.
Step 3: A one-time password (OTP) will be sent to your phone. Enter the OTP to verify your mobile number.
Step 4: Fill out the online application form with your basic information, including Full name, PAN card details, Date of birth, and PIN code.
Step 5: Once you’ve entered your details, click “Proceed” to go to the loan selection page.
Step 6: Enter the desired loan amount.
Step 7: Select your preferred loan variant from the three options available: Term Loan, Flexi Term Loan, Flexi Hybrid Loan
Step 8: Choose your repayment tenure. You can select options ranging from 12 to 96 months.
Step 9: Complete the Know Your Customer (KYC) verification process.
Step 10: Once everything is filled out and verified, submit your business loan application.
Get Business Loan Online Up to ₹ 2 Crore
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Bajaj Finserv Business Loan Features & Benefits
Bajaj Finance offers a range of business loans to cater to the diverse needs of entrepreneurs and small-to-medium enterprises. These loans come with a host of features and benefits that can help businesses meet their financial requirements efficiently.
- Loan Purpose: The loan can be used for various purposes such as meeting working capital needs, constructing infrastructure, upgrading or purchasing machinery, fulfilling cash flow requirements, and more.
- Loan Amount: Bajaj Finserv offers business loans up to a maximum of Rs. 80 Lakhs, with variations based on the type of loan.
- Repayment: The loan tenure ranges from 12 months to 96 months, with different schemes having varying tenures.
- Interest Rate: The interest rate for Bajaj Finance business loans ranges from 9.75% to 30% p.a., and for secured business loans, it ranges from 9% to 30% p.a.
- Collateral Security: Unsecured business loans from Bajaj Finserv do not require any collateral security.
- Processing Fee: The processing fee is up to 3.54% of the loan amount, inclusive of applicable taxes.
- Prepayment Charges: If the loan is foreclosed, a penalty of 4.72% (including applicable taxes) of the outstanding loan amount/total withdrawable amount is applicable.
- Part Prepayment Charges: A penalty of 4.72% (including applicable taxes) of the amount to be prepaid is levied for part prepayment, with prepayment being allowed only after the payment of one EMI. Part prepayment charges do not apply to Flexi Term Loan and Hybrid Flexi.
If you want to compare business loans from other lenders, check for different business loan options from various lenders from the links given below:
Steps to Apply for Business Loan on Buddy Loan
As a prominent loan service provider in India, Buddy Loan simplifies availing personal loans and business loans from verified lenders. Follow the steps below to apply for a business loan through Buddy Loan:
- Step 1: visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the business loan application page. Enter your mobile number and OTP.
- Step 3: Specify the desired loan amount and email. Next, choose the Business Loan option.
- Step 4: Choose if you have a Business Proof (Yes/ No)
- If ‘Yes’ (If you have a business proof), enter your business and personal details.
Or - If ‘No’ (If you do not have a business proof), choose the profession type and enter your details.
- If ‘Yes’ (If you have a business proof), enter your business and personal details.
- Step 5: Provide income details and Click the ‘Submit’ button.
Bajaj Finance Customer Care Number
Here are the Bajaj Finance customer care contact details:
- Toll-free helpline number: 18602000852
- Missed call number: +91 9810852222.
- Website: https://www.bajajfinserv.in/
Get Business Loan Online Up to ₹ 2 Crore
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Besides Bajaj Finance, you can check out more on business loans from the links provided below:
Based on the business or loan requirement, you can opt for different loans. Check more on types of business loans based on the profession or business type from the links below: