3 unique variants of our business loan

  • Flexi Term Loan

    Assume that you have taken a loan of Rs. 20 lakh with a repayment period of 24 months. You have paid the EMIs on time for the first six months. So, by now, you must have paid back roughly Rs. 5 lakh.

    It occurs to you, that you need another Rs. 5 lakh. To drawdown additional funds from your Flexi Term Loan account, sign-in to our customer portal – My Account.

    Now, let us say you have decided after three months to pay off a portion of your loan, for example, Rs. 10 lakh. You can easily repay by signing in to My Account.

    Your interest will be automatically adjusted throughout, and you only need to pay interest on the outstanding principal. Your EMI includes both the principal and the adjusted interest.

    A modern-day business demands dynamism and may need quick investments. A Flexi Term Loan is perfect for such uses.

  • Flexi Hybrid Loan

    This is another variant of our business loan that works exactly like the Flexi Term Loan. The only difference is that, for the initial period of the loan, your EMI will only consist of the applicable interest. For the subsequent period, the EMI will consist of the interest and principal components.

    Click here for a detailed description of how our Flexi Hybrid Loan works.

  • Term Loan

    This is like regular business loan. You borrow a certain amount of money, which is divided into equated monthly instalments that consist of both principal and the applicable interest.

    There is a fee applicable for part-payment as well as foreclosure of your Term Loan before completion of your loan tenure.

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Features and benefits of our business loan

Features and benefits of our business loan 00:45

Features and benefits of our business loan

Watch this video to know everything about the features of our business loan.

  • 3 unique variants

    3 unique variants

    Choose the loan type that suits you the best – Term Loan, Flexi Term Loan, Flexi Hybrid Loan.

  • No part-prepayment charge on Flexi variants

    No part-prepayment charge on Flexi variants

    You can prepay a portion of your loan at no extra charges with our Flexi Term Loan and Flexi Hybrid Loan.

    Read about our Flexi Hybrid Loan

  • Loan of up to

    Loan of up to Rs. 80 lakh

    Manage your small or large business expenses with loans ranging from Rs. 2 Lakh to Rs. 80 lakh.

  • Convenient tenures of up to 8 years

    Convenient tenures of up to 8 years

    Get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.

  • Money in your bank account in

    Money in your bank account in 48 hours*

    In most cases, you will receive the loan amount in your account within 48 hours of approval.

  • No hidden charges

    No hidden charges

    All fees and charges are mentioned upfront on this page and in the loan document. We advise you to read these in detail.

    Know about our fees and charges

  • No collateral required

    No collateral required

    You do not have to worry about providing any collateral or security to get our business loan.

  • Online application process

    Online application process

    You can apply for our business loan from the comfort of wherever you are, at a time convenient for you.

  • *Terms and conditions apply

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Eligibility criteria and documents required

Anyone can apply for our business loan if they meet the five basic criteria mentioned below. If you meet all the business loan eligibility criteria, you will need a set of documents to complete your application process.

Eligibility criteria

  • Nationality: Indian
  • Business vintage: At least 3 years
  • CIBIL Score: 685 or higher
  • Work status: Self-employed
  • Age: 24 years to 80 years*

*24 years (18 years age of non-financial applicant / Co-applicant / Guarantor)

*Higher age limit is applicable at the time of loan maturity.

Documents

  • KYC documents - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • PAN card
  • Proof of business ownership
  • Other financial documents

How to apply for a business loan

Video Image 01:15
   

Step-by-step guide to applying for a business loan

  1. Click on the ‘APPLY' button on this page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
  5. Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid. 
  6. Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’. 
  7. Complete your KYC and submit your business loan application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.

  • Did you know?

    You can lower your EMI amount by choosing a longer loan tenure of up to 96 months.

  • Did you know?

    With Flexi Hybrid loan, you can pay interest-only EMIs for the initial part of the tenure.

  • Did you know?

    A CIBIL Score of 720 or higher can help you get a lower interest rate on your loan.

  • Did you know?

    Submitting your documents on time will accelerate your business loan approval process.

Applicable fees and charges

Type of fee Applicable charges
Rate of interest 9.75% to 30% per annum
Processing fees Up to 3.54% of the loan amount (inclusive of applicable taxes)

Bounce charges In case of default of repayment instrument, Rs. 1,500 per bounce will be levied.
Document processing charges Rs. 2,360 (inclusive of applicable taxes)
Flexi Fee Term Loan - Not applicable
Flexi Term Loan (Flexi Dropline) - Rs. 999/- (inclusive of applicable taxes)
Flexi Hybrid Loan (as applicable below) -

• Up to Rs. 6,499/- (inclusive of applicable taxes) for loan amount less than Rs. 1000000/-.
• Up to Rs. 8,999/- (inclusive of applicable taxes) for loan amount from Rs. 1000000/- to Rs. 1499999/-.
• Up to Rs. 13,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-
• Up to Rs. 16,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above.

*The Flexi charges above will be deducted upfront from the loan amount
*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
Penal charge Delay in payment of instalment(s) shall attract Penal Charge of Rs. 40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Prepayment charges

Full Pre-payment

Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.

Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part-prepayment

Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.

Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi.

Stamp duty Payable as per respective state
Instalment default charges Rs. 450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered.
Cash collection handling charges Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
Cash deposit charges Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices.
PG facility charges Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties.
Broken period interest Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
For Term Loan: Deducted from the loan disbursement
For Flexi Term Loan: Added to the first instalment
For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.413% (Inclusive of applicable taxes) of the total withdrawable amount
(as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 1.18% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Initial loan tenure. Up to 0.295% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Subsequent loan tenure.

Switch fees Up to 1.18% of the loan amount (inclusive of applicable taxes)

(Switch fee is applicable only in case of switch of loan. In switch cases, processing fees and documentation charges will not be applicable)

Frequently asked questions

What is a business loan, and how much can one borrow?

A business loan is a financial offering that can help you meet your planned and unplanned business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.

You can get a business loan up to Rs. 80 lakh from Bajaj Finance by fulfilling the easy-to-meet eligibility criteria. Upon approval of your application, you can get the loan amount in your bank account within 48 hours*.

*Terms and conditions apply

Who can apply for a business loan?

Business entities such as proprietary concerns, partnership firms, private limited companies, self-employed professionals, and self-employed non-professionals can apply for a Bajaj Finance Business Loan. All applicants have to fulfil the eligibility criteria and submit their relevant documents.

What are requirements to get a business loan?

You can apply for a business loan if you meet the following eligibility criteria:

  • Age: 24 years to 80 years (You should be 80 years or younger at the end of the loan tenure)
  • Employment: Self-employed
  • Business vintage: Minimum 3 years
  • CIBIL score: 685 or higher
  • Nationality: Indian

You will need these documents:

  • KYC documents
  • Proof of business ownership
  • Other financial documents
What is the minimum CIBIL Score required for a business loan?

Bajaj Finserv considers a CIBIL Score of 685 or above as a good credit score. A strong business turnover and having all your documents in check also reflect positively on your profile.

What can I use a business loan for?

You can use a business loan to manage your venture’s planned and unplanned expenses, from leasing a larger office premise to renovating your workspace. You have the option to purchase, lease, or repair machinery or upgrade old technology to bring in a more efficient and smoother way of working. Stocking up inventory, purchasing raw materials in bulk, or expanding your operations are some other end-uses of a business loan.

How can small enterprises apply for business loan?

Applying for a business loan from Bajaj Finance Ltd. is easy. Start by clicking on the ‘Apply’ button on this page and open the online application form. Enter your basic details and verify your profile with the OTP that you receive on your phone.

Share the basic details of your business and gather your business documents. A representative from Bajaj Finance Ltd. will contact you with the next steps. After approval of your loan application, you can get money in your account within 48 hours*.

*Terms and conditions apply

What is the maximum loan amount for a business loan?

The maximum loan amount for a business loan from Bajaj Finance is Rs. 80 lakh. You can choose from three unique variants of business loan - Term Loan, Flexi Term Loan, and Flexi Hybrid Loan.

Who is not eligible for business loan?

A person who is below 24 years or above 80 years of age is not eligible for a business loan from Bajaj Finance. The person must also be a self-employed individual or a business owner.

What is the rule of business loan?

The rule of business loan from Bajaj Finance is that the borrower must have a business vintage of at least 3 years and a good credit score. The borrower must also submit some basic documents such as KYC, bank statements, business proof, and income tax returns.

Can we get business loan on salary?

A person who is a salaried employee cannot get a business loan from Bajaj Finance, as it is meant for self-employed individuals or business owners. However, salaried employees can apply for other types of loans from Bajaj Finance, such as personal loan, home loan, or car loan.

Which loan is best for business?

A business loan is the best option for those who want to start or expand their business. Bajaj Finserv Business Loan is a great choice for those looking for competitive interest rates, flexible repayment options, and quick loan disbursal.

Who is eligible for a small business loan?

Business loans are generally available to entrepreneurs who have a well-established and profitable business, a good credit score, and a solid business plan. Bajaj Finserv Business Loan is an excellent option for eligible entrepreneurs who want to take their business to the next level.

Which loan is best to start a business?

Business loan is the best option for those who want to start a new business. Bajaj Finserv Business Loan offers start-up loans with competitive interest rates, flexible repayment options, and quick loan disbursal, making it a great choice for those looking to start a new business venture.

What is the minimum loan amount for business?

The loan amount for a Bajaj Finserv Business Loan ranges from Rs. 2 Lakh to Rs. 80 lakh.

Can I get a Rs. 50 lakh loan for business?

Yes, it is possible to get a business loan of Rs. 50 lakh. Bajaj Finserv Business Loan offers business loans up to Rs. 80 lakh without collateral.

How do I request for an Instant Business Loan?

To request a business loan quickly, simply complete our online application form with your details, choose a loan amount, and repayment terms. Submit necessary documents like bank statements and ID proof. Once reviewed, you will the funds disbursed in just 48 hours. *

What are the rates/fee for instant business loan?

The instant business loan carries an interest rate ranging from 9.75 to 30% per annum. Additionally, upfront charges comprise 3.50% processing fee (inclusive of applicable taxes), and Rs. 2,360 (inclusive of applicable taxes) as documentation charges. To know in detail, visit our 'fees and charges' page.

What is the tenure for an instant business loan?

With our business loan, you can avail the flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.

How much can I get with instant business loan in India?

With Bajaj Finance, you can get a business loan of up to Rs. 80 lakh.

How can I qualify my business for an instant business loan?

To check the eligibility criteria for our business loan, visit our eligibility page.

How to get an instant business loan without CIBIL Score?

To avail of a business loan you must have a CIBIL Score of 685 or above.

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