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Business Loan

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Business Loan

Features and Benefits

As of 2014, Bajaj Finserv has launched a range of online financial products, one of which is Business and professional online loans. We offer funding to self-employed individuals, self-employed professionals (Architects, Doctors and CA’s), and entities of various constitutions.

Hereunder are a host of unique features and benefits that you enjoy with Business Loans from Bajaj Finserv. Most of these features are industry firsts and come only with our portfolio of offerings. Read on to know more.

Loans up to 30 Lacs

We offer loans up to 30 Lacs as Business Loan which can also be availed online. This is the highest unsecured ticket size offered by any online loan provider in India.

Instant Online Approval

Our online unsecured Business Loan provides an instant online approval with a 100% online process, application to approval.

No Guarantors. No Collateral

You don't need to provide any Guarantors or give any collateral to avail our Business Loans, even when you apply online.

Prompt Repayment Benefit

Get rewarded for keeping your commitments. Enjoy the exclusive Prompt Repayment Benefit for paying your EMIs on time. If you clear your first 12 EMIs without any delays, you will get 1% of the annualized interest amount paid back to you.
This facility will be available for the entire period of your loan tenor and will be paid at the end of every 12 months, subject to timely payment of your EMIs.

Part Prepayment facility

You can prepay your Business Loan up to 6 times in a calendar year, at any interval, with the minimum amount per prepay transaction not less than 3 EMIs. There is no limit on the maximum amount. This is subject to your clearing your first EMI.

Nil Foreclosure charges

Choose to foreclose your loan anytime during your loan tenor without any charges.

Preapproved Offers

As an existing customer, you will receive pre-approved loan offers from time to time.

Online Account Access

View all your loan account details and avail of exclusive offers on our Customer Portal. Log in with your User ID/ Mobile Number/Email and Password.

Eligibility and Documents

You could avail our Business Loan if you are any one of the following:

Limited or Private Limited Company
Partnership or Proprietorship Firm
Chartered Accountant / SelfEmployed Professional

You could avail our Doctor Loan if you are any one of the following:

Individual practicing doctor
Consulting doctor
Salaried Doctor


Documents
Application form
1 Photograph of Co-Applicant
Income Details : IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure, Form 16 A
Bank Account Statements for the last 3 months
KYC documents of Co-applicant
Business Vintage for 5 years
Business Proof: Certificate of Practice

Customer profile:

  • Self Employed Professionals (SEP)
  • Self Employed Non Professionals (SENP)
  • Partnerships
  • Limited Liability Partnership
  • Private Limited and
  • Closely held Limited companies

Self Employed Professionals (SEP) – Allopathic Doctors, Chartered Accountants, Company Secretaries and Architects who are practicing their profession. Proof of qualification to be documented.

Self Employed Non Professionals (SENP) – Traders and Manufacturers

Entities – Partnerships, Limited Liability Partnership, Private Limited and closely held Limited companies.

We also offer loans to other constitution types depending profile on a case to case basis.

We serve customers in the following cities:

Agra Ahmedabad
Aurangabad Bangalore
Baroda Bhopal
Bhubaneswar Chandigarh
Chennai Cochin
Coimbatore Dehradun
Delhi Goa
Hyderabad Indore
Jaipur Jalandhar
Jamnagar Jamshedpur
Jodhpur Kohlapur
Kolkota Lucknow
Ludhiana Madurai
Mangalore Mumbai i (is)
Mumbai ii (ac) Mysore
Nagpur Nasik
Panipat Pondicherry
Pune Raipur
Rajkot Salem
Surat Udaipur
Ujjain Vijayawada
Vizag  

We also have specialized service in the following regions:

Aurangabad
Baroda
Cochin
Coimbatore
Indore
Jaipur
Jodhpur
Kohlapur
Madurai
Surat
Tiruchy

Minimum Eligibility for customer who apply online:

Cities Business Type Minimum Annual Turnover Income as per ITR Age of company
Metros:
Bombay, Bangalore,
Delhi, Hyderabad,
Chennai
Manufacturing
Trade
Service
Others (CA, Architect)
Rs. 5 Crore
Rs. 7 Crore
Rs. 3 Crore
Rs. 7 Lac
Rs. 7 Lac
Rs. 7 Lac
Rs. 7 Lac
Minimum business vintage of 3 years for Private Limited and Limited Company

5 years for Partnership and Proprietorship.
Doctors
Running Clinic/Hospital
Salaried
If Self employed
Rs. 6 Lac
If Salaried (Gross)

Rs. 1 Lac per month
Income from profession as per ITR
7 Lacs
Non Metro: Rest of India Manufacturing
Trade
Service
Others (CA, Architect)
Rs. 4 Crore
Rs. 3 Crore
Rs. 1 Crore
Rs. 5 Lac
Rs. 5 Lac
Rs. 5 Lac
Rs. 5 Lac
Minimum business vintage of 3 years for Private Limited and Limited Company

5 years for Partnership and Proprietorship.
Doctors
Running Clinic/Hospital
Salaried
If Self employed
Rs. 5 Lac
If Salaried (Gross)

Rs. 50,000 per month
Income from profession as per ITR
5 Lacs
Age Criteria Age of Applicant Doctors
30 years
Others
26 years
 

Apply Now

Documents
Type Documents
Application Form 1. Application from with customer Signature and stamp
2. Photo on application form (Non Mandatory)td>
KYC
Any one
1. Clear and valid ID and DOB proof of Proprietor (And for co applicant in case of proprietorship) /all Partners / All Directors. SV proof of all partners in case of partnership entity / 51% signatories to loan and or two directors for Pvt Ltd and three directors for public Ltd.
2. PAN of Proprietor /co-applicant in case of proprietor/all Partners / All Directors
3. Valid Residence address proof of all directors in case of P Ltd / Ltd, all partners in case of a partnership entity, proprietor and mandatory co applicant in case of proprietorship.
4. Valid Office address proof
5. Ownership proof of residence/ office
6. Sshareholding pattern
7. Company PAN Card only in case of Partnership firm only. For Pvt. Ltd. and Ltd. PAN number to be captured in application form from the ITR.
8. MOA/Partnership Deed in case of partnership firm only / List of Directors / Share holding pattern declared on company letter head, signed by any one of the directors.
Financials 1. Current 2 year ITR with computation of income
2. Both year Financial with all schedule/ annexure of Balance sheet and P&L
Both year Tax Audit Report (3CD/3CB form) along with all annexure and Auditors reports all with annexure in case of Company.
Banking if not
available through
Perfios
Primary bank statement- last 3 months
OD/CC Letter (applicable- if limit / DP not mentioned on bank statement)
All running loan tracks / schedule / loan Numbers , as reflecting in the latest balance sheet
SPDCs 5 Cheques from the main bank account
Other Documents Our credit manager may ask for more documents at his discretion on a case to case basis

Fees and Charges

  Charges Applicable
Processing Fees 2% of the loan amount will be deducted at the time of disbursal of approved loan amount.
Secure Fee A convenience fee of Rs1,999/- is applicable for online business and professional loans
EMI bounce charges Rs 1,000 will be charged in the subsequent month for every bounce
Foreclosure Charges NIL*
* Applicable following 1st EMI clearance

 

Frequently Asked Questions



Q1. What is the range of loan amount I can avail of?

A. With Bajaj Finserv, you can avail unsecured Business Loan ranging from Rs. 8 Lacs to Rs. 30 Lacs.


Q2. What is the range of tenor available with these loans?

A. The minimum tenor available for this loan is 12 months and it can go up to 48 months.


Q3. Is the rate of interest fixed or floating?

A. We offer fixed rate of interest.


Q4. What is the mode of repayment?

A. You can repay through either Post Dated Cheques or ECS.


Q5. What do I need to do to avail of a Business Loan online?

A. Click the ‘Apply Now’ button on the banner above.

Or SMS PSBL to 57578 or call us on 1800 2094151

How to Apply

To apply for a Business Loan write to us at businessloans@bajajfinserv.in

Or SMS BL to 9773633633.

Click Apply Now on the banner above or visit the link below to apply for a Business Loan online

http://www.bajajfinserv.in/apply-for-business-loan.aspx

Frequently Asked Questions



Q1. What is the range of loan amount I can avail of?

A. With Bajaj Finserv, you can avail unsecured Business Loan ranging from Rs. 8 Lacs to Rs. 30 Lacs.


Q2. What is the range of tenor available with these loans?

A. The minimum tenor available for this loan is 12 months and it can go up to 48 months.


Q3. Is the rate of interest fixed or floating?

A. We offer fixed rate of interest.


Q4. What is the mode of repayment?

A. You can repay through either Post Dated Cheques or ECS.


Q5. What do I need to do to avail of a Business Loan online?

A. Click the ‘Apply Now’ button on the banner above.

Or SMS PSBL to 57578 or call us on 1800 2094151

Q6. In which locations can I avail of a Business Loan?

A. You can avail of a Business Loan from Bajaj Finserv Lending in any of the following cities:

Delhi Mangalore
Jaipur Mysore
Jodhpur Hyderabad
Udaipur Vizag
Agra Vijayawada
Ludhiana Ahmedabad
Chandigarh Jamnagar
Jalandhar Rajkot
Panipat Surat
Dehradun Baroda
Kolkata Indore
Jamshedpur Ujjain
Bhubaneswar Raipur
Lucknow Bhopal
Chennai Mumbai i (is)
Madurai Mumbai ii (ac)
Salem Pune
Coimbatore Aurangabad
Pondicherry Nasik
Bangalore Nagpur
Goa Kohlapur

We are also present in the following regions:

Jodhpur
Jaipur
Cochin
Madurai
Tiruchy
Coimbatore
Surat
Baroda
Indore
Aurangabad
Kohlapur

Contact us

For Existing Customers

Follow these simple steps to use our toll free IVR

  • Dial 18002094151
  • Enter your 7-digit BFL Customer ID
  • Select from various IVR options
  • Access IVR in 10 languages : English, Hindi, Bengali, Marathi, Punjabi, Gujarati, Tamil, Telugu, Kannada and Malayalam

Email

Write to us at wecare@bajajfinserv.in with your queries

SMS Updates

SMS  <<keyword below>> to +91 92275 64444
GETEMAIL for your current email address
UPDEMAIL <New email> to update your email address
GETADD for your current registered email address
CUSTID to know your customer ID
LAN to know your Loan Account Number
EMI LAN to know your loan/ EMI details
EXPERIA to know your Experia user ID and password
PIN to know your 4 digit EMI card PIN
FEEDBACK to give your valuable feedback
SAT Y Give a positive feedback
SAT N to give a negative feedback
(Your mobile number should be registered with us for this facility). Standard SMS Charges applicable

Visit our branch to:

  • Change mode of payment (Swapping)
  • Purchase/ cancel an Insurance Policy
  • Foreclose your loan
  • Claim a refund

To know the address of your nearest branch Click here


Follow these simple steps to log on to our Customer Portal (Experia)

  • Visit www.bajajfinserv.in
  • Log in using your Username/Mobile Number/Email ID and Password
  • Access all loan details
  • Manage your loans
  • View special offers

Testimonials

I want to take a moment to let you know that your support all along has been incredible. I understand that there were some technical glitches in getting the funds transferred on time; however your timely involvement and resolution helped in getting the funds available to me just on time. Such customer support is very rare to see and I really appreciate all the help provided by you…. definitely Bajaj Finance has earned an extremely satisfied customer due to the great support provided by you.

Anita 3 July 2012

I am very happy to see the letter sent by you for appreciating with "Prompt Payment Reward Programme". I have taken loans from various banks and repaid to everybody. The only appreciation letter came from Bajaj, which shows how you value your customers.

Naidu Darapaneni
           Founder & C.E.O
           Versant Technologies,Hyderabad
           20 March 2012

Flexi Loans

Definition

FLEXI Loan Account is an Industry first facility extended by Bajaj Finserv. The advantage of the product is that you can pre-pay and drawdown money within the drop-line facility using a self-service process, which is easy and hassle-free. Once you avail the Flexi facility, you stand to benefit by saving interest cost by pre-paying any additional / idle funds that you may have, without any interest being levied on the part-paid amount.

Why FLEXI Loan Account?

FLEXI Loan Account is being proposed as a product differentiator in the market, features like Nil Pre-payment Charges, Part pre-payment facility at no extra cost were introduced some years back and have greatly benefitted you. With the launch of Flexi Loan Account we now bring you the benefit of added flexibility on your business loan that would offer you the freedom to save more.

Benefits of Flexi Loans

Flexi Loans offers many benefits over an existing Term Loan:

  • You have the flexibility to pre-pay the loan with idle funds.
  • You can re-avail the pre-paid amount within the drop-line facility at any time within the loan tenor timeframe without any additional documentation.
  • You save on Interest costs – Interest is payable only on the utilized loan amount. There is no interest levied on the pre-paid amount.
  • Seamless, easy, hassle-free online transactions on the Bajaj internet portal– Experia, the self-service account access tool for drawdown and RTGS that allows you to make pre-payments to BFL through Net Banking facility.

Eligibility

All existing & new business loan customers

Contact Details

In case of any query please contact us on:
Our Call Center no.- 1800-209-4151
SMS FLEXIBL and FLEXIDL to 9773633633
Write to us at flexiloan.bl@bajajfinserv.in
For doctors, flexiloan.dl@bajajfinserv.in

Frequently Asked Questions



Q1. What are features of Flexi - Business loan or Doctor Loan?

A. FLEXI Loan Account is an Industry first facility being extended by BFL to its premium customers. It is a hybrid product combining the features of both, a term loan and a WDV based credit line. With this product you can pre-pay and drawdown money within the drop-line facility using a self-service process, which is easy and hassle-free. Once you avail the Flexi facility, you benefit by saving interest cost by pre-paying any additional / idle funds that you may have, without any interest being levied on the pre-paid amount.


Q2. What is the benefit of a Flexi facility compared to a normal Term Loan?

A. Flexi Loans offer many benefits compared to normal Term Loan.

  • You have the flexibility to pre-pay the loan with idle funds
  • You can re-avail the pre-paid amount within the drop-line facility at any time within the loan tenor timeframe without any additional documentation.
  • You save on Interest costs – Interest is payable only on the utilized loan amount. There is no interest levied on the pre-paid amount
  • Seamless, easy, hassle-free online transactions on the Bajaj's internet portal– Experia, the self-service account access tool for drawdown and RTGS that allows you to make pre-payments to BFL through Net banking transactions."

Q3. What is dropline amortization construct?

A.Dropline is an amortization construct in which the drawing power of the customer is reduced on a monthly basis there by reducing the approved loan amount to zero at the end of loan tenor. The loan amount reduces according to a normal loan amortization schedule, thereby ensuring the approved loan amount being brought to zero by the end of the loan tenure.


Q4. What are the key constituents of Dropline Facility?

A."Following are the constituents of Dropline based amortization :

  • Drop-line Balance: It is a running loan facility which keeps on dropping over the tenor
  • Utilized Amount: Amount utilized by you. This is the POS (Principal Outstanding).
  • Available balance: This is the amount you can drawdown. (Calculated as the difference between drop-line balance and utilized amount)"

Q5. What will be the billing cycle?

A.Billing cycle will be from 26th to 25th  of every month and the same will be due on 2nd of the following month.


Q6. What would be my Installment payment date?

A.The installment payment date for all Flexi loans will be 2nd of every month.


Q7. How will the interest be calculated if the customer withdraws or part prepay after the billing cycle?

A.For all transactions that are executed between 26th to 25th of the month, the customer will be charged for the specific number of days the amount has been utilized. For e.g., if the customer with a credit line of Rs.10 lacs draws down Rs. 10 lacs on 26th of the month & pre-pays Rs.5 lacs on the 29th of the same month thereby utilizing only Rs.5 lacs from 29th of that month to 25th of the next month, then the customer will be charged interest on Rs.10 lacs from 26th – 29th and on Rs.5 lacs from 30th – 25th. Similarly a customer with a credit line of Rs.15 lacs draws down Rs.10 lacs on 26th of the month and on 29th draws down another Rs.5 lacs thereby utilizing the full available balance, will be charged for Rs. 10 lacs from 26th – 29th of the month and on Rs. 15 lacs from 30th – 25th of the next month.


Q8. Would the interest rates be the same/lower compared to a normal term loan?

A.All Rates shall be as per the BFL rates & charges.


Q9. I don’t want to make any online withdrawal, can the transaction be carried out in any other way?

A.Through Flexi Loans we intend to offer a swift and easy Loan facility whereby you are given the freedom to transact from the secure and comfortable environs of your home/ office. Currently all Flexi transactions need to be carried out over internet.


Q10. I don’t want to make any online payment, I need someone to come home every time and carry out the transaction.

A.While withdrawals are only allowed through the internet, payments can be made through RTGS/NEFT/IMPS either online or through your Bank.


Q11. Would you be offering cheque book for this facility whereby I can use the same for drawback/payment mode?

A.No, this does not operate like a Current account with overdraft facility. Moreover BFL being an NBFC, unlike a bank, Flexi Loans as well as our other loan products cannot offer this facility.


Q12. What if the customer has not received Welcome Kit?

A.The customer can write to us at wecare@bajajfinserv.in and the same would be resend to the registered address.


Q13. When will I receive my Experia login id and password?

A.Your Experia ID and Password will be sent along with the New Loan relationship Kit/ Welcome Kit and an SMS will also be sent to you on your registered mobile number within 10 days of loan conversion


Q14. How can I get my statements for Re-payment Schedule / Interest Certificates / Statement of Accounts / No Objection Certificate?

A."All loan account statements are available to you online and can be viewed / downloaded by logging on to www.bajajfinservlending.in using your Experia Id & password. However, you may request for hard copy of your statements by calling our Customer Care Call Centre or through an e-mail request. BFL will also send the annual statement of accounts at the end of every year by email."


Q15. How will I get to know my complete loan details?

A."You will receive a Welcome kit on your E-mail id (& the same would be on Experia also) consisting of:

  • All Your Flexi Loan details
  • User id and password for Experia
  • Your registered bank account details for drawdown transactions.
  • Unique Virtual account number
  • Registered mobile number
  • Reference service guide to help you understand the product and use the self-service tool effectively.

Q16. How can the customer know his balance in Flexi?

A.The customer can access all the loan details and information pertaining to the Flexi Loan account by logging on to www.bajajfinservlending.in, with his existing Experia account user id and password. He can place drawdown request only over Experia. The same information can be extracted by using Bajaj Finserv App.


Q17. What is the process of part-prepayment?

A.BFL will be providing all customers with a unique account number,the customer can make all payments / pre-payments into this unique account through your net banking account. The same will be credited to the Flexi account within the stipulated time as per banking guidelines.


Q18. Is there any charge for pre-payment ?

A.There is no charge for pre-payment. As a Flexi Loan customer, you can transact (make payments in your account and drawdown within the available balance amount) any number of times.


Q19. When can I make the first part prepayment?

A.Part Prepayment can be done post 36 hours of loan disbursement


Q20. How many times can the customer make a part prepayment?

A.The customer can make part prepayments as many times as he wants. There is no limit to the number of part-prepayments in a day.


Q21. How many times can the customer withdraw in a day?

A.Currently the customer can withdraw maximum five times in a day. The payment happens by Finance in five batches


Q22. Can the customer withdraw and part prepay in the same day?

A.Yes, the customer can withdraw and part-prepay in the same day


Q23. In how much time will the money be credited to customer’s account?

A.Currently, BFL will use RTGS/ NEFT for money transfers. The same will be credited to customer's account within the stipulated time as per banking guidelines


Q24. I have made a prepayment before my EMI date. Do I still need to pay my installment?

A.Yes, the installment will be deducted on the due date, irrespective of part-prepayment amount. Since the EMI is recovered on amount utilized during the billing period.


Q25. How much time will it take for the effect to come in Statement of Account- for both part-prepayment and withdrawal?

A.For payment to Customer account under Flexi, the request will be processed along with Mortgage Flexi request being received under current process 15 to 20 minutes for each payment request. Presently Flexi withdrawal request mail is being raised on hourly basis i.e. if customer makes withdrawal request at 9.30 a.m. (Bank/BFL Working Days before Cut-off time) then the request mail will be received by operation's team at 10.00 a.m. batch mail accordingly payment process will be done in system by operation's team as per agreed TAT.  Withdrawal entry will reflect in SOA immediately as soon as the payment request is authored in system. However, the said batch needs to be authored at the bank site by authorised signatories, subsequently payment will be credited to customer account.


Q26. In case the customer faces any issue during withdrawal or part prepayment - whom to be contacted?

A."You can contact us at


Q27. Would there be any intimation sent to me for due Installment amount and date?

A. Yes, as a Flexi customer you will be receiving the following intimations on the registered mobile number.

  • SMS on every transaction ( payment and drawdown done on Experia)
  • Installment due intimation before due date
  • Intimation of Installment receipt post clearance and credit

Alternatively you can check your Loan details and installment details by logging into your Experia account at your convenience.


Q28. How and when can I pre-close the Flexi Loan?

A."You are allowed to make a pre-payment or pre-closure up to any amount without incurring any additional fees. The pre-payment can be made by you through RTGS to the assigned unique BFL bank account allocated to you. If you wish to discontinue this loan facility you can do so by paying the entire balance amount in the loan account, including interest along with request for foreclosure. To raise request for Foreclosure- visit Experia/Wecare/customer care no./branch"


Q29. How do I change my personal details such as my address/mobile number/ Bank account number? Do I need to send any proof?

A.All your personal details can easily be changed by submitting documentary proof to the concerned Relationship Manager duly attested and signed by you with a request letter.