MODERN EQUIPMENT
Machinery purchase is one of the highest costs associated with an expanding business. To ramp up production, you need more equipment and additional employees to operate it. Together, this can cost you up to tens of lakhs a month.
NEW TECHNOLOGY
Keep up with the ever-changing demands of customers with fresh offerings and new solutions. Invest in technological upgrades for your existing systems to improve product quality, or try a new way of production that doubles your output.
BETTER PRODUCTIVITY
Invest in the right tools to help your employees reach higher goals. Buy the latest equipment for faster production, send your employees for courses to upgrade their skills, and buy goal-tracking software.
3 unique variants of our business loan
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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 are only required to pay interest on the outstanding principal. Both the principal and the adjusted interest are included in your EMI.
A modern-day business demands dynamicism and may need quick investments. A Flexi Term Loan is perfect for such uses.
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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.
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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.
If you wish to part-pay or foreclose your loan before the completion of your loan tenure, you can do that by paying the part-payment and foreclosure fee.
Features and benefits of our business loan
All you need to know about our Business Loan
Watch this video to know everything about the features of our business loan
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3 unique variants
Choose the loan type that suits you the best – Term Loan, Flexi Term Loan and Flexi Hybrid Loan.
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No part-prepayment charges 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
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Loan of up to Rs. 50 lakh
Manage your small or large business expenses with loans ranging from Rs. 50,000 to Rs. 50 lakh.
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Convenient tenures of up to 8 years
Get the added flexibility to pay back your loan with repayment options ranging up to 96 months.
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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.
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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.
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No collateral required
You do not have to worry about providing any collateral or security to get our business loan.
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End-to-end online application process
You can apply for our business loan from the comfort of wherever you are, at a time convenient for you.
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*Terms and conditions apply
Still haven’t found what you’re looking for? Click on any of the links at the top of this page.
Wide selection of products
You might not require a loan at this time, or you might not have a pre-approved offer. There is still a vast selection of products available, which you can choose from:
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Set up your Bajaj Pay wallet
The 4-in-1 wallet gives you the option to transfer money or pay using UPI, EMI Network Card, Credit Card, and your digital wallet.
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Check your credit health
The two most crucial factors you should consider are your credit health and your CIBIL Score. Get our Credit Health Report to know your current financial health.
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Pocket Insurance to cover all your life events
We have more than 200+ insurance plans that start from Rs. 19. They cover all life events, like hiking, common diseases, losing your car keys, and more.
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Set up an SIP for as little as Rs. 100 per month
Select from over 900 mutual funds from 40+ mutual fund companies, like Aditya Birla, SBI, HDFC, ICICI Prudential, and more.
EMI Calculator
Plan your instalments better.
Eligibility criteria and documents required
Anyone can apply for our business loan, as long as they meet the five basic criteria mentioned below. If you meet all the 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 70 years*
Documents
- KYC documents - Aadhaar/ PAN card/ passport/ voter’s ID
- Proof of business ownership
- Other financial documents
*You should be 70 years or younger at the end of the loan tenure.
Applicable fees and charges
Type of fee |
Applicable charges |
Rate of interest |
9.75% to 30% p.a. |
Processing fees |
Up to 3.54% of the loan amount (inclusive of taxes). |
Bounce charges |
Rs. 1,500 per bounce. |
Document processing charges |
Rs. 2,360 (inclusive of taxes). |
Penal interest |
In case of any delay in payment of the monthly instalment, you will be charged a penal interest at the rate of 3.50% per month on the monthly instalment/ EMI outstanding from the date of default until the receipt of the monthly instalment/ EMI. |
Part-prepayment charges* |
4.72% inclusive of the taxes on part-payment amount paid. |
Stamp duty |
At actuals (as per state). |
Mandate rejection charges |
Rs. 450 per month from the first month of due date for mandate rejected by customer’s bank until the new mandate is registered. |
Annual maintenance charges |
Flexi Term Loan - 0.295% inclusive of applicable taxes on the total withdrawable amount. |
Foreclosure charges |
Term Loan – 4.72% inclusive of applicable taxes on the principal outstanding amount as on the date of such full pre-payment. |
*These charges are not applicable on the Flexi Term Loan and Flexi Hybrid Loan facilities. Moreover, part-prepayment should be more than one EMI.
Frequently asked questions
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 of up to Rs. 50 lakh from Bajaj Finserv by fulfilling the easy-to-meet eligibility criteria. Once your application is approved, you can get the loan amount in your bank account within 48 hours*.
*Terms and conditions apply
Business entities such as proprietary concerns, partnership firms, private limited companies, self-employed professionals, and self-employed non-professionals can apply for a Bajaj Finserv Business Loan. All applicants are required to fulfil the eligibility criteria and submit their relevant documents.
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.
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 can use it for various purposes. You can even 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.
Applying for a business loan from Bajaj Finserv 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 is sent to your phone.
Share the basic details of your business and gather your business documents. A representative from Bajaj Finserv will contact you with the next steps. Once your loan application is approved, you can get money in your account within 48 hours*.
*Terms and conditions apply
To get a business loan from Bajaj Finserv, you must own a business that has been operational for a minimum of 3 years. You are also required to have filed your income tax returns for at least one year.