Whether your business is at an initial stage or in the growth phase, additional finance can help you keep up the momentum. You can avail a business loan from Bajaj Finserv for your short or long term financial needs, to avoid any type of working capital shortfall.
Yes, it is possible. 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 if requested, fresh documents for the enhanced amount application.
Line of Credit is a unique credit facility given to our loan applicants, wherein you are approved for certain limit of credit/ loan, for a said duration. The monthly instalment for Line of Credit will consist only of the interest amount and will not have a principal component on a monthly basis. The principal amount of loan is to be repaid at the end of the tenure of the facility.
You can deposit the funds when in access and withdraw fund when required in business, and you will be charged interest only on the amount utilized by you. The limit may drop along the tenor (dropline) or remain constant throughout the tenor, giving you maximum availability of funds throughout the tenor.
Term Loan : Customer avails loan and repays in equated instalments. There is normally an option to prepay with surplus funds, but no withdrawal options. Repayment of interest and principal is done every month.
Line of Credit : Customer avails loan and uses the same as a FIXED credit line with renewal option every year. There is an option to prepay with surplus funds as well as withdraw within the available limit. There is repayment of interest only, every month, applicable on the utilised amount.
Below are different types of fees and charges that are levied on a loan ( only if applicable)
Interest rate applicable for Business and Professional Loans Customer varies basis the credit score which includes without limitations, a number of variables such as, customer details, loan delinquency and many more. These variables have been recognized as material risk explaining variables in company segmentation analysis. The aforesaid is dynamic and gets revised periodically as per the experience and performance of past portfolio and hence subject to change.
BPI (Broken Period Interest) is applicable for cases disbursed post 15th of every month. BPI is calculated on pro-rata basis for the remaining days of the month from the date of disbursal. This is so because the EMIs start from the second month of loan booking. The 1st month is considered as free period where no interest or EMI is charged from the customer.
Processing fee This is the amount of fee charged for end to end processing of the customer’s loan application.
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