Bajaj Finance Business Loan in Chennai
Chennai, often called the “Gateway of South India,” is one of the most popular cities among foreign tourists. Known for its rich culture, the city is home to famous landmarks like the National Art Gallery and is a centre for classical dance forms such as Bharatnatyam. Alongside its cultural charm, Chennai is also a key hub for education, trade, and the economy in South India.
With a strong industrial base and growing number of small and medium businesses, Chennai is a great place for entrepreneurs and traders to thrive. Many manufacturers, retailers, and service providers operate successfully across the city.
With such a thriving business environment, many entrepreneurs and self-employed professionals are choosing Chennai to start or expand their ventures. However, starting or expanding ventures often require substantial capital for hiring staff, improving infrastructure, and managing day-to-day operations.
Avail of a Bajaj Finance Business Loan in Chennai to address the monetary issues in your venture sufficiently. You can also check if you already have a pre-approved offer in Chennai. The entire process is online, no branch visit required:
Check your offer in Chennai with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*
Features and benefits for business loan in Chennai
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Collateral-free loans
Get a Bajaj Finance Business Loan without pledging any asset or collateral.
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Flexi loan offer
Avail of our Flexi loan facility to get funds as per your requirement and repay the principal at ease with reduced EMIs.
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Get loans up to 8000000
Accelerate your enterprise’s growth with high-value business loans up to 8000000
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Fast approval
Bajaj Finance extends specially curated pre-approved loan offers to all existing customers for seamless loan transfer.
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Flexible tenor
Fund all business requirements without straining your finances with extended tenor options of up to 96 months.
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Online account access
Log in to our customer portal - Experia, to check your loan details on the go.
Tamil Nadu, with Chennai as its capital, is one of the most developed and industrialised states in India. Chennai is home to major manufacturing plants of top automobile brands like Royal Enfield, BMW, Renault, Mahindra & Mahindra, and Mitsubishi. It's also known as the “Health Capital of India,” attracting many medical tourists—nearly 45% of whom come from outside the country.
Apart from healthcare and automobiles, Chennai plays a major role in India’s film industry, especially Tamil cinema. The city also has a strong base in banking and finance, software services, petrochemicals, textiles, and hardware manufacturing—making it a vital economic centre in South India.
If you are a self-employed professional or even a non-professional planning to grow your business in this fast-paced city, Bajaj Finance offers a simple solution. You can apply for a business loan in Chennai with no restrictions on how you use the funds. Whether it’s for expanding operations, buying equipment, or managing working capital, our business loan features are designed to suit your needs. The interest rates are affordable, and we follow a transparent policy—no hidden charges. Get 100% online approval for your business loan in Chennai. No branch visit needed to check your eligibility.
Documentation and eligibility criteria for business loan in Chennai
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Age
21 to 80 years*
(*Age should be 80 years at Loan Maturity)
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CIBIL score
Check your CIBIL Score for FREE650 or higher
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Business vintage
Not less than 3 years
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Citizenship
Indian resident
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Eligible profiles
Entities/ self-employed non-professionals/ self-employed professionals
You can improve your chances of securing a better interest rate on a manufacturing business loan by maintaining a CIBIL score of 650 or above, managing existing debt responsibly, applying for a suitable loan amount, and submitting complete documents, including KYC documents (Aadhaar, passport, voter ID, or driving licence), PAN card, proof of business ownership, and additional financial documents. These steps strengthen your business loan eligibility and may help lenders offer more favourable loan terms.
Interest rates and charges on business loan in Chennai
Business loan interest rate and associated charges vary depending on the loan type, facility selected, and applicable scheme. Besides the business loan interest rate, borrowers should review processing fees, Flexi facility charges, prepayment charges, annual maintenance charges, and other applicable costs to understand the overall cost of borrowing.
- Business loan interest rate ranges from 14% to 23% per annum. For the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, the interest rate ranges from 8% to 13% per annum (RBI Repo Rate/BFRR + applicable spread), with the maximum rate capped at 13%.
- Processing fees are up to 4.72% of the loan amount (inclusive of applicable taxes).
- There are no Flexi facility charges for Term Loans. For Flexi Loans, charges range from Rs. 999 to Rs. 16,999 (inclusive of applicable taxes) and are deducted upfront from the loan amount.
- Stamp duty is charged as per the applicable state laws and is deducted upfront from the loan amount. Under ECLGS 5.0, only Stamp Duty, Penal Charges, and Bounce Charges are applicable.
- There are no annual maintenance charges (AMC) for Term Loans. For Flexi Term (Dropline) Loans, AMC is up to 0.59% (inclusive of applicable taxes) of the Dropline Limit. For Flexi Hybrid Term Loans, AMC is up to 1.18% during the initial loan tenure and up to 0.59% during the subsequent tenure.
- Credit guarantee fees under CGFMU are up to 1.18% per annum (inclusive of applicable taxes) on the loan amount. Under CGTMSE, the guarantee fee is up to 0.885% (inclusive of applicable taxes) of the loan amount for the first 12 months.
- Renewal credit guarantee fees apply under both CGFMU and CGTMSE, subject to the respective scheme guidelines. These are charged annually on the outstanding loan amount or Dropline Limit, with prorated charges where the remaining tenure is less than 12 months.
- Full prepayment for Term Loans, Flexi Term (Dropline) Loans, and Flexi Hybrid Term Loans attracts charges of up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount. Part prepayment charges of up to 4.72% apply only to Term Loans and are not applicable to Flexi Term (Dropline) or Flexi Hybrid Term Loans.
- Bounce charges are Rs. 1,500 per instance if a payment instrument is dishonoured or an instalment is not paid on the due date due to mandate failure, non-registration, or any other reason.
- Delayed payment of instalments attracts a penal charge of 36% per annum per overdue instalment, calculated from the due date until the full overdue amount is received.
How to apply for business loan in Chennai
- Click on the ‘CHECK ELIGIBILITY' button on this page.
- Enter your 10-digit mobile number and OTP.
- Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
- Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid Term.
- Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- Complete your KYC and submit your business loan application.
For self-employed individuals looking for financial assistance, you may also consider applying for a personal loan for self-employed to fulfill your financial needs.
Apply for Business Loan in Nearby Cities of Chennai
Business Loan in Nearby Cities of Chennai | |
Frequently asked questions
Yes, it may be possible to get an unsecured business loan in Chennai with a low credit score, depending on the lender's assessment. Along with your credit profile, lenders also consider your business performance, repayment capacity, financial stability, and supporting documents.
If you have a limited budget, choose a repayment tenure and EMI that match your business cash flow. Making timely repayments, reducing unnecessary expenses, and maintaining a financial buffer can help you manage an unsecured business loan in Chennai more effectively.
To apply for an unsecured business loan in Chennai, you generally need to meet the lender's eligibility criteria and provide identity proof, address proof, business proof, bank statements, and other relevant financial documents.
To improve your chances of quick approval for an unsecured business loan in Chennai, ensure you meet the lender's eligibility criteria, submit complete and accurate documents, maintain a healthy credit profile, and provide all required business and financial information.
