Bajaj Finserv Business Loan

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Bajaj Finserv
Business Loan

Get a Bajaj Finserv or Bajaj Finance business loan up to Rs. 80 Lakhs with no collateral and minimal documentation. You can repay the loan in up to 96 months' tenure and opt for part or full prepayment of the loan. In terms of varieties in business loan Bajaj Finance comes in many variants viz. Flexi Term Loan, Flexi Hybrid Loan, Term Loan, and so on. You can apply for any loan type according to your preferences and requirements.

Apply Now

On Bajaj Finserv Official Website.

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Updated: 20-05-2024 03:01:54 PM

Highlights of Bajaj Finance Business Loan

The key highlights of Bajaj Finserv business loan are mentioned below:

Rate of Interest 9.75% – 30% p.a.
Loan amount Rs. 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
Age 24 – 80 years
Minimum CIBIL score 685 or above
Disbursal TAT 48 hours of approval

Bajaj Finance Business Loan Feature & Benefits

  • Purpose of loan: For working capital requirements, building infrastructure, upgrading existing machinery, purchasing new machinery, fulfilling business cash flow needs, and so on.
  • Quantum of loan: You can avail of a Bajaj Finserv business loan up to a maximum of Rs. 80 Lakhs. The amount may vary for different loan types.
  • Repayment: The loan tenure can range from 12 months to 96 months. The tenure can change for different loan schemes.
  • Interest rate: Bajaj Finance business loan interest rate ranges from 9.75% to 30% p.a. and 9% to 30% p.a. for secured business loans.
  • Collateral security: No collateral security is required to avail of an unsecured business loan from Bajaj Finserv.
  • Processing fee: The processing fee is up to 3.54% of the loan amount, inclusive of applicable taxes.
  • Prepayment charges: If you wish to foreclose your loan, you will have to pay a penalty of 4.72% (including applicable taxes) of the outstanding loan amount/ total withdrawable amount.
  • Part prepayment charges: A penalty of 4.72% (including applicable taxes) of the amount to be prepaid is levied for part prepayment. The prepayment is allowed only after the payment of one EMI. Part prepayment charges are not applicable for Flexi Term Loan and Hybrid Flexi.

Bajaj Finance Business Loan Interest Rates

The interest rates for Bajaj Finserv business loans may vary from one loan type to another. Following are the details of Bajaj business loan interest rates for different schemes:

Loan Type Applicable Interest Rates
Flexi Term Loan, Flexi Hybrid Loan and Term Loan 9.75% to 30% p.a.
Secured Business Loans 9% to 30% p.a.
Business Loans for Chartered Accountants and Doctor Loan 11% – 22% p.a.
Microfinance Group Loan 24% – 26% p.a.

Types of Bajaj Finance Business Loans Provide

Bajaj Finserv Business Loans are customised as per individual requirements. These loans can be availed by MSME/ SME sectors and self-employed professionals like doctors, engineers, and chartered accountants. Different types of Bajaj Finserv Business Loans are:

Business Loan

Partnership firms, private limited companies, and other business entities can apply for this unsecured loan.

  • The maximum loan amount offered is up to Rs. 80 Lakhs.
  • 3 unique variants i.e. Flexi Term Loan, Flexi Hybrid Loan and Term Loan.
  • Convenient repayment tenure of up to 8 years.
  • No part-prepayment on Flexi variants.
  • Money is transferred to your bank account within 48 hours of approval.

Secured Business Loan

This business loan can be availed of against security/collateral at attractive interest rates.

  • The loan is offered for a maximum of Rs. 1.05 Crores.
  • Flexible tenure of up to 15 years.
  • 3 unique variants i.e. Flexi Term Loan, Flexi Hybrid Loan and Term Loan.
  • Extensive geo coverage.
  • Low Bajaj Finserv business loan interest rate.
  • Minimal documentation, immediate processing, and quick disbursal.
  • No part-prepayment on Flexi variants.
  • End-to-end online application process.

Business Loan for Chartered Accountants

With this Bajaj Finance loan for business, Chartered Accountants (CA) can take their firm to the next level.

  • Flexible tenure of 12 to 96 months.
  • Money is transferred to your bank account within 48 hours of approval.
  • No collateral and guarantor are required.
  • Basic documentation and doorstep services.
  • Flexi facility is available.

Doctor Loan

This is an exclusive business loan for Doctors. The funds can be utilised for expanding practice, purchasing the latest medical equipment, software, training staff, etc.

  • The quantum of the loan is up to Rs. 80 Lakhs.
  • No collateral and hidden charges.
  • End-to-end online application process.
  • Tenure ranges between 12 to 96 months.
  • Money is transferred to your bank account within 48 hours of approval.
  • Flexi Term Loan, Flexi Hybrid Loan and Term Loan variants are available.

Commercial Lending – Term Loans

This loan is offered to mid-size corporate clients for multiple purposes including capacity extension, acquiring business assets, expanding business footprint, etc.

  • High-value loan suitable to your business requirements.
  • Online access to e-statements with customer portal.
  • A dedicated Relationship Manager to assist you.
  • Quick credit decisioning, loan processing and client servicing.

Commercial Lending – Working Capital

This loan is offered to mid-size corporates to help them with their day-to-day business activities.

  • Flexibility for corporate clients on drawdown and repayment to match their cash flow changes.
  • Diversified product offerings including WCDL, Revolving Lines, PBD and SID.
  • Online access to e-statements with customer portal.
  • A dedicated Relationship Manager to assist you.
  • Quick credit decisioning, loan processing and client servicing.

Commercial Lending – Lease Rental Discounting

This loan is offered to mid-size corporates to help them encash future rentals by availing of a loan facility against the lease rentals at attractive interest rates.

  • High-value loan suitable to your business requirements.
  • Online access to e-statements with customer portal.
  • A dedicated Relationship Manager to assist you.
  • Quick credit decisioning, loan processing and client servicing.

Microfinance Group Loan

Women applicants belonging to low-income households can avail of this loan by meeting the basic eligibility criteria.

  • Collateral-free loan up to Rs. 1.5 Lakhs.
  • Flexible tenure of 12 to 36 months.
  • No part prepayment or foreclosure charges.
  • No hidden charges are involved.

Bajaj Finance Business Loan Fee & Charges

Type of charge Amount
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 Rs. 40 per day per instalment
Flexi fee Flexi Term Loan (Flexi Dropline): Rs. 999 (inclusive of applicable taxes)

Flexi Hybrid Loan (inclusive of applicable taxes):

  • Up to Rs. 6,499 for loans below Rs. 10 Lakhs
  • Up to Rs. 8,999 for loans between Rs. 10 Lakhs to Rs. 14,99,999
  • Up to Rs. 13,999 for loans between Rs. 15 Lakhs to Rs. 24,99,999
  • Up to Rs. 16,999 for loans of Rs. 25 Lakhs or above
Instalment default charges Rs. 450 per month
Cash collection handling charges Rs. 177 (inclusive of applicable taxes)
Cash deposit charges Rs. 50 (inclusive of applicable taxes)
PG facility charges Rs. 11 (inclusive of applicable taxes)
Bounce charges Up to Rs. 1,500
Documentation processing charges Rs. 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

Eligibility Criteria for Bajaj Finserv Business Loans

Bajaj Finserv business loan eligibility criteria are mentioned below:

  • The applicant must be an Indian national self-employed.
  • The applicant’s age should be a minimum of 24 years (18 years for non-financial applicant/ co-applicant/ guarantor) when applying for the loan and not older than 80 years when the loan matures.
  • The applicant must have a business vintage of at least the last 3 years.
  • The minimum CIBIL score should be 685 or above.

Documents Required for Bajaj Finserv Business Loan

  • PAN Card: It is a mandatory document.
  • Proof of identity: Passport/ Aadhar Card/ Voter ID/ Driving Licence/ PAN/ Letter from NPR/ NREGA Job Card.
  • Proof of address: Electricity Bill/ Telephone Bill/ Passport/ Trade License/ Lease Agreement.
  • Financial documents: A copy of at least the last 1 year’s ITR, Bank Account Statements, Balance Sheet, and Profit & Loss Statement.
  • Ownership proof:
    • Self-employed Professionals: PAN Card/ Registration Document/ ITR/ Electricity Bill/ Municipal Tax Receipt.
    • Self-employed Non-professionals: Registration Document/ ITR/ Bank Statements/ Owner Identity Proof/ Statement of Creditor/ GST Returns/ Book Debt/ Periodic Stock.
    • Partnerships/ Entities: ITR/ GST Returns/ Partnership Agreement/ Shop Registration Certificate/ Identity Proof of Partners.
    • Private Limited Companies: ITR/ GST Returns/ Certificate of Commencement/ Article & MOA of Pvt. Ltd. Company/ Shop Registration Certificate or Identity Proof.

How to Apply for a Bajaj Finserv Business Loan?

  • Open the ‘Business Loan’ page on our website under the ‘Loans’ and click on Compare & Apply.
  • Enter all the required details.
  • Click on ‘Let’s Go’.
  • Choose employment type and enter annual turnover, address details, and other business-related information.
  • Accept the terms & conditions and click on Next.
  • Enter the OTP received.
  • Compare the options displayed on the screen and choose Bajaj Finserv Bank.
  • Click on Apply Now to submit your business loan application.
  • Note down your Application Number for future reference.
  • Our representative will get in touch with you soon.

Bajaj Finserv Business Loan Customer Care Number

You can contact Bajaj Finserv Bank regarding all your business loan queries through ways mentioned in the link mentioned below:

Call Bajaj Finance business loan customer care number: 020 7157 6403

Raise a request: https://www.bajajfinserv.in/reach-us

If you want information about Bajaj Finserv commercial lending products, apart from calling the Bajaj business loan customer care number, you can write an email to: [email protected].

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Bajaj Finserv Business Loan FAQs

Yes, you can get up to Rs. 80 lakhs as a business loan in Bajaj Finance.

Yes, you can visit the nearest branch of Bajaj Finserv to make the loan payment offline.

  • Visit the Bajaj Finserv customer portal page.
  • Use your Customer ID/ email ID/ mobile number to log in.
  • Authenticate yourself using a password or an OTP.
  • Click on the Bajaj Finserv track application option.
  • Enter your registered mobile number and click ‘Generate Password’.
  • Use the OTP sent to know your Bajaj business loan status.

You can also check the status by calling the customer care team or through the Bajaj Finserv app.

You can cancel a Flexi business loan in Bajaj Finance by raising a loan cancellation request.

You can apply for Bajaj Finserv business loans from our portal or through Bajaj Finserv’s website.

You can use the Bajaj Finance business loan interest rate calculator to calculate the Bajaj Finance business loan interest rate.

Whether the business is in its initial stage or has been in existence for a long time, additional finance will be required to keep up the momentum of the business. The Bajaj Finserv Business Loan can help you bridge any working capital mismatch or for building infrastructure or to take your business to the next level. Bajaj Finserv is a good choice since they offer small Business Loans up to 30 Lakhs. These are disbursed as fast as 24 hours. Even the pre-approval facility is also available.

Yes, the limit can be enhanced on Bajaj Finserv Business Loan. This depends on the eligibility at the time of requesting for such enhancement. Also, a new copy of the documents might have to be submitted.

Yes. Prepayment is allowed with a penalty of 4% of the outstanding principal amount on the day of prepayment of the loan. Part prepayment is allowed with a penalty of 2% on the outstanding principal amount on the day of part prepayment. Part prepayment is allowed only after payment of 1 EMI.

Bajaj Finserv offers customised loan products to meet all types of SME business funding requirements. For example, you can apply for Bajaj Finserv Working Capital Loan for bridging the working capital gap; Business expansion loan to expand manufacturing facilities, geographical expansion, increase in the product line, technology upgradation, etc. Margin Money Loan to provide for the margin that has to be brought in for the purchase of machinery, for LC/ BG, and for purchase of business premises.

The rate of interest charged for the Bajaj Finserv Business Loan is 18% onwards, which is highly competitive. If you are paying a higher rate of interest for your existing business loan, you can also opt for the Bajaj Finserv Balance Transfer option.

The minimum loan tenure is 12 months, and the maximum loan tenure is 60 months.

The age limit for Bajaj Finserv Business Loan is between 21 years to 55 years.

The processing fee charged is up to 2% of the loan amount. The applicable taxes will also be levied.

For individuals with a business registered, there is no pre-closure charge. For others, 4% of the balance outstanding on the day of pre-closure will be collected. For part prepayment, 2% of the principal balance outstanding on the day of part-pre-payment will be collected.

The following categories can apply for Bajaj Finserv Business Loans-

  • Self-employed professionals like allopathic doctors, chartered accounts, architects,

engineers etc. can apply for the loan

  • Self-employed non-professionals, proprietorship/ partnership firms, limited liability

partnership, private limited companies can apply for the loan.

  • The applicant should have been in the profession/ business for at least 3 years.
  • The applicant should have filed IT returns for at-least 1 year.
  • The age of the promoters should be between 21 years to 55 years.