Features and benefits

  • Zero collateral needed

    Zero collateral needed

    There is no need to pledge any asset to avail of funding for your service enterprise

  • Quick processing

    Quick processing

    Simply meet the eligibility criteria and get loan approval within 48 hours*

  • Flexi benefits

    Flexi benefits

    Avail of the unique Flexi Loan facility. This feature allows you to withdraw freely at no additional cost

  • Swift disbursal

    Swift disbursal

    Submit minimal documentation and benefit from money-in-bank in just 48 hours* after approval

  • Personalised loan deals

    Personalised loan deals

    For quick and easy access to funds, check for a pre-approved offer

  • Easy repayment

    Easy repayment

    We offer tenors ranging from 12 months to 96 months to suit your repayment capacity

  • Online loan management

    Online loan management

    Easily manage your loan account, anytime, anywhere, with our customer portal – My Account.

Business loan for service enterprises

As a business owner in the service enterprise industry, you shouldn’t compromise on infrastructure or equipment. However, to get what you need for your business to grow, you might require external funding. In such cases, the Bajaj Finserv Business Loan for service enterprise is an option you can rely on. With our loans, you can get up to Rs. 50 lakh* (*Inclusive of Insurance Premium, VAS Charges, Documentation Charges, Flexi fees and Processing Fees) to comfortably meet any business-related expenses to take your service enterprise to the next level.

We offer a range of solutions to meet your industry-specific needs. Here are some of the specialised offerings we provide:

  1. Business and working capital loan for hotel owners
  2. Business loan for boutique owners
  3. Business loan for software development and media agencies
  4. Business loan for courier companies
  5. Business and working capital loan for mobile handset dealers
Read More Read Less

Eligibility criteria and documents required

Bajaj Finserv offers Business Loans to service enterprises on easy-to-meet eligibility criteria. Further, we require minimal documentation only.

  • Age

    Age

    24 years to 70 years*
    (*Age should be 70 years at Loan Maturity)

  • Nationality

    Nationality

    Indian

  • CIBIL score

    CIBIL score

    685 or higher

  • Work status

    Work status

    Self-employed

  • Business vintage

    Business vintage

    At least 3 years

You will need the following documents to apply:

  • KYC documents
  • Proof of business ownership
  • Other financial documents

Fees and charges

When you opt for Bajaj Finserv Business Loans for service enterprises, you enjoy the benefit of an attractive interest rate and nominal charges.

Type of fee

Applicable charges

Rate of interest

9.75% - 30% per annum

Processing fees

Up to 3.54% of the loan amount (inclusive of applicable taxes)

Bounce charge

In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.

Document processing charges

Up to Rs. 2,360/- (inclusive of applicable taxes)

Flexi Fee

Term Loan - Not applicable

Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Variant (as applicable below) - A fee will be deducted upfront from the loan amount

  • Up to Rs. 5,999/- (inclusive of applicable taxes) for loan amount less than Rs. 10,00,000/-

  • Up to Rs. 7,999/- (inclusive of applicable taxes) for loan amount from Rs. 10,00,000/- to Rs. 14,99,999/-

  • Up to Rs. 12,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-

  • Up to Rs. 15,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above

*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Penal interest

Any delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment, from the date of default until the receipt of monthly instalment.

Pre-payment 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 pre-payment

  • 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 Pre-payment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi

Stamp duty

Payable as per state laws and deducted upfront from the loan amount.

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

Broken Period Interest/ Pre-EMI 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 0.295% (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 tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent 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.

How to apply

The steps to apply for the Bajaj Finserv Business Loan for service enterprises are simple:

  1. 1 Click on ‘APPLY ONLINE’ to visit the application form
  2. 2 Enter your personal and business details
  3. 3 Upload the bank statements for the last six months
  4. 4 Get a call from our representative who will guide you on further steps

Once approved, you will get access to funds in just 48 hours*.

*Conditions apply

**Document list is indicative