Business Loan

Features and Benefits

Get small business loans up to Rs.45 lakh, in just 24 hours. Use the funds to invest in infrastructure, expand operations, upgrade to the latest machinery, maintain inventory, or increase working capital. These customized business loans can give a much-needed boost to help your enterprise scale new heights of profitability.

Top features of Bajaj Finserv Business Loans

Large capital made affordable

Bajaj Finserv offers easy and quick business loans up to Rs.45 lakh at low interest rates. Whether your business needs short-term loans, intermediate-term loans or long-term loans, this business loan for SMEs is the perfect financing solution for you.
Flexi loan facility

Withdraw only what you need and repay funds as per your business cash flow at nil prepayment charges. Pay only interest as EMIs for the initial part of the tenor. Interest is charged only on the amount withdrawn, helping you to lower your EMIs by up to 45%.
Hassle-free unsecured loans

These unsecured business loans are approved in under 24 hours, come with easy eligibility criteria, and can be applied for with just a few documents.
Loans up to Rs.45 lakh

Whether your business has needs for short-term loans, intermediate-term loans or long-term loans, Bajaj Finserv offers instant business loans up to Rs.45 lakh. You can use the loan amount to invest in infrastructure, expand operations, buy equipment or inventory, or even to increase working capital.
No collateral

Bajaj Finserv Business Loans are collateral-free, which means you won’t have to put your personal or business assets on the line to get financing. And since you don’t need to pledge collateral, there is no requirement for appraisal of the value of your assets. As a result, with collateral-free loans, getting business funding is much faster.
Pre-approved Offers

Apply online and get pre-approved offers for an instant loan without security from Bajaj Finserv.
Online Account Access

Get the convenience of accessing your business loan statement and manage your loan anytime, from anywhere.

Why should you choose the Bajaj Finserv Business Loan?

One of the most trusted NBFCs in India, Bajaj Finserv offers customised business loans that are affordable and hassle-free. Benefit from an affordable interest rate, zero hidden charges, minimal documentation, quick approval and more.

You can use a business loan to:

Increase your business cash flow
Lease bigger office premises
Renovate your office
Purchase, lease or repair machinery and equipment
Upgrade to the latest technology
Stock up on inventory
Hire seasonal employees
Purchase raw material for bulk orders
Expand to another area or city
Scale-up operations and take on bigger projects and much more

Loans for your special needs:

Bajaj Finserv has customized business loans for your unique needs.

Working capital loans: Maintain a healthy cash flow with a working capital loan without any security and keep your business away from financial roadblocks.
Machinery loans: Install or upgrade to the latest plant and machinery or equipment with a machinery loan and meet bulk orders smoothly.
SME and MSME loans: Small and medium enterprises can now grow their operations and scale in an easy way with SME and MSME loans..
Business loans for women: Especially designed for women entrepreneurs, Business loans for women offer finance up to Rs.45 lakh to support their growing business needs

You can read about business loans in Hindi, Marathi and Tamil.

Business Loan Eligibility Criteria

The eligibility criteria to apply for a Bajaj Finserv Business Loan are simple. To avail of a loan for business, you need to meet these conditions:

You must be an Indian citizen between 24 and 70 years of age
(*Age should be 70 years at loan maturity.)
You must own a business with a minimum vintage of 3 years
You must have a CIBIL score of 685 or higher

Documents Required for Business Loan

Bajaj Finserv offers hassle-free business loans, and you only need to submit a few documents to apply. Listed below are the documents required to apply for small business loans in India.

ID proof: KYC documents, such as Aadhar card, PAN card, passport, and driving license.
Address proof: Electricity bill, telephone bill, lease agreement, etc.
Business ownership proof: Business registration document, partnership agreement, Certificate of Commencement/Article, Memorandum of Association, etc.
Financial documents: ITR copy for the previous year, bank account statement for the last 6 months, audited balance sheet and profit and loss statement for the last 2 years.

Business Loan Interest Rate and Charges

Bajaj Finserv offers small business loans at a nominal rate of interest to make your EMIs affordable. The latest business loan interest rate and charges are listed in the table below.

Types of Fees	Applicable Charges
Rate of interest	17% p.a. onwards
Processing fees	Up to 2% of the loan amount (Plus applicable taxes)
Document/statement charges Statement of account/repayment schedule/foreclosure letter/No Dues Certificate/interest certificate/list of documents	Download your e-statements/letters/certificates for free by logging into our customer portal, Experia. You can also get a physical copy of your statements/letters/certificates/list of documents from any of our branches at a charge of Rs.50 (inclusive of taxes) per statement/letter/certificate.
Bounce charges	Up to Rs.3000 (Inclusive of applicable taxes)
Penal interest (Applicable in case of non-payment of monthly instalment on/before the due date)	2% per month
Document processing charges	Rs.2000 plus taxes

Read here to know more about business loan interest rate and charges.

Types of EMI Offered

EMI or Equated Monthly Instalment is a method of loan repayment in which you need to pay a small fixed amount every month until your loan is fully repaid. To make repayment easy for you, Bajaj Finserv offers two types of EMIs:

Fixed EMIs: You can repay your business loan through fixed EMIs, where the EMI is a predetermined amount comprising the principal and interest amounts.
Flexi EMIs: Bajaj Finserv offers an exclusive Flexi Loan facility that allows you to pay interest only on the amount withdrawn instead of the entire loan limit. You can also choose to pay interest-only EMIs for the initial part of the tenor and lower your monthly instalment by up to 45%*.

Business Loans EMI Calculation

Manually calculating an EMI is a time-consuming job, and there’s always room for error. Here, a Business Loan EMI Calculator is handy since it is quick, accurate, and easy to access and use. All you need to do is enter the principal (loan amount), tenor, and rate of interest to get error-free results instantly.

The online calculator uses the following formula:
E = P x r x (1 + r) ^ n / [(1 + r) ^ n - 1]
Here,

E - EMI
P - Principal or loan amount
r - The rate of interest (calculated monthly)
n - Tenor

Business Loan FAQs

What value of a business loan can I get in India?

If you are a budding entrepreneur and need finance to meet the expenses of your working capital, you can get a small business funding of up to Rs.45 lakh based on your eligibility. Bajaj Finserv offers collateral-free funds to small businesses at affordable rates and simple terms. Our business loans come with additional benefits, such as the Flexi facility that lets you withdraw as many times as per your needs from the total sanctioned limit.

What is a business loan and how does it work?

A business loan is an unsecured form of credit designed to cover various expenditures in a business. Borrowers need not mortgage any asset to avail funds.

Bajaj Finserv offers loans up to Rs.45 lakh, against simple business loan eligibility criteria and basic documentation. Once approved, you get the amount disbursed within a working day.

Who can get a business loan in India?

Entities, self-employed non-professionals, and self-employed professionals can apply for a business loan. Once they fulfil the required eligibility criteria, they can fill up the online business loan application to get funds.

What is a good credit score to get a business loan for a new business?

A CIBIL score of 685 is considered healthy to avail a business loan. The closer your score is to 900, the higher are your chances of getting small business financing on good terms.

How to qualify for a business loan?

An applicant can qualify for a business loan by meeting the following criteria:

Minimum 3 years of business vintage
Applicant’s age to be within 24 to 70 years
(*Age should be 70 years at loan maturity.)
A healthy CIBIL score and strong credit profile

How to apply for a business loan?

The process to apply for a business loan is simple.

Fill up the online application form for business loan.
Submit all the relevant documents to complete the process.
Get money in bank within 24 hours.

What is the business turnover ratio and how is it calculated?

The business turnover ratio measures the proficiency of a business with which it effectively collects their receivables or the credit it has extended to its customers.

To know how to calculate business turnover ratio, the total amount receivable from customers at the start of the accounting period must be added with the ending balance and divided by 2. The business turnover ratio can be calculated by then dividing the total sales on credit by the average balance (excluding the cash receipts).

What is the minimum required turnover of business to be eligible for a business loan?

To be eligible for a business loan, the applicant must own a business running for at least 3 years and have a good CIBIL score. Also, good business loan turnover ratio gives a positive reflection of business growth and profitability, making it a good profile for a business loan.