Frequently asked questions

Why should I take a business loan?

Whether your business is at an initial stage or in the growth phase, an infusion of finance can help you get the needed momentum. You can get a business loan from Bajaj Finserv for your short or long-term financial needs, be it to address working capital shortfalls, buy machinery or equipment, purchase inventory or raw materials, pay staff or vendors, start marketing, book business travel and more.

Can the credit limit for a business loan be increased?

Yes, it is possible to increase the credit limit for a business loan. This is subject to the eligibility criteria at the time of your request and may be done at the sole discretion of Bajaj Finserv. You may submit a request letter to us and new documents for the enhanced amount application if needed.

How does the Flexi facility work?

The Flexi facility is a unique credit facility offered to our borrowers, where you are approved for a certain amount of credit for a certain duration. The monthly instalment for the Flexi facility will consist only of the interest amount for the initial period of the loan, which helps you save up to 45% on EMIs.*

You can prepay when you have surplus funds and withdraw from this sanction when you need to. You will only be charged interest on the amount utilised by you. The limit may drop along the tenor or remain constant throughout, giving you maximum flexibility.

What is the difference between a Flexi facility and a term loan?

Term loan: This loan is availed by borrowers in a lump sum and repaid in equated monthly instalments, that contain both principal and interest components. You can prepay when you have surplus funds, but you don’t have the option to withdraw from your sanction multiple times.

Flexi facility: This credit facility offers borrowers a loan in the form of a fixed credit line with the option to renew every year. You can withdraw when you need funds within the available limit and prepay with surplus funds when you can. You repay only the interest every month, which is calculated just on the amount utilised. The principal is repaid at the end of the tenor.

What are the fees and charges that I incur during loan processing?

Here are the fees and charges applicable on a Bajaj Finserv Business Loan:

Interest rate: This is the cost of taking the loan and depends on factors that affect your eligibility for the loan, such as your income, credit score, age, and more. It also depends on current market rates, RBI policies as well as internal policies.

BPI (Broken Period Interest): This is the interest applicable for loans disbursed after the 15th of every month. BPI is calculated on a pro-rata basis for the remaining days of the month from the date of disbursal. This is because your EMIs start from the second month of loan booking. The 1st month is considered a free period where no interest or EMI is charged.

Processing fee: This is the fee charged for processing your loan application.

Bounce charges: This is the fee charged for missing your EMI.

Penal interest: This is the interest on late payment charged when you delay EMI payments or default on repayment.

Document processing charges: This is the fee for verifying the documents you submit when applying for a loan.

Foreclosure charges: This is the fee charged when you prepay your loan in full before the end of the tenor. It is usually expressed as a percentage applicable on the outstanding loan amount.

Part-prepayment charges: This is a fee charged when you make a partial prepayment towards your loan during the tenor. It is usually expressed as a percentage applicable on the prepayment amount. This charge is not applicable on the Flexi facility offered by Bajaj Finserv for an individual borrower.

Our charges are 100% transparent, so see the fees and charges applicable on a Bajaj Finserv Business Loan to plan your repayment effectively.

Why should I take a business loan?

Whether your business is in its initial stages or in the growth phase, additional finance can help you keep up the momentum. You can avail of a business loan from Bajaj Finserv for your short or long-term financial needs and avoid any working capital shortfall.

Can the sanction for a business loan be increased?

Yes, it is possible to increase your loan amount. This is subject to the eligibility criteria at the time of your request and may be done at the sole discretion of Bajaj Finserv. You may submit a request letter to us and a few fresh documents to apply for the enhanced amount if required.

How does the Flexi facility work?

The Flexi business loan is a unique credit facility we offer. Here, you can borrow from the loan limit as many times as you need to without making fresh applications. You only pay interest on the amount you actually utilise. You may also choose the pay interest-only EMIs during the initial tenor of the loan, reducing your monthly instalments by up to 45%.* This helps you manage your business cash flow more efficiently. In addition, you can prepay funds without any charges.

*Conditions apply

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