Business Loan in Coimbatore

Business Loan in Coimbatore - Get business loan of up to Rs. 80 lakh in Coimbatore. Bajaj Finance offers business loans within 48 hours without any collateral.
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Business Loan
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4 min
24 January 2025

Coimbatore is a thriving hub for small and medium-sized enterprises (SMEs). Businesses here are known for their resilience and innovation. However, access to adequate financial support is vital for growth and sustainability. A business loan in Coimbatore serves as a lifeline for entrepreneurs seeking funds for expansion, working capital, or other operational needs.

This article will explain the process of applying for a business loan in Coimbatore, provide an overview for businesses looking to navigate the details of eligibility criteria, interest rates, and benefits, and help you make an informed decision.

Apply business loan in Coimbatore instantly

Obtaining a business loan in Coimbatore is now more accessible than ever, thanks to digital platforms and streamlined processes. Entrepreneurs can apply online and get approvals within hours, making it a convenient solution for urgent financial requirements.

Leading financial institutions like Bajaj Finserv offer tailored loan solutions to suit various business needs. With minimal documentation and a hassle-free application process, these Flexi business loans empower local businesses to thrive in the competitive market.

Steps to apply for a business loan:

  • Visit the official website of a trusted lender, such as Bajaj Finserv
  • Fill in the online application form with basic business details
  • Upload the required documents (explained in the next section)
  • Wait for loan approval, which is often granted within 24 hours
  • Receive the disbursed amount directly into your bank account

With flexible repayment options and competitive rates, Coimbatore business loans have become a preferred choice for many entrepreneurs.

Features and benefits

Business loans offer numerous advantages, enabling businesses in Coimbatore to scale operations, purchase equipment, or manage cash flow effectively. Below are the key features and benefits:

  • High loan amounts: Avail funds up to Rs. 80 lakh to meet business requirements
  • Flexi business loan facility: Withdraw funds as needed and pay interest only on the utilised amount
  • Flexible repayment tenures: Choose tenures ranging from 12 to 96 months
  • No collateral required: Most lenders offer unsecured business loans, eliminating the need for asset pledging
  • Quick approvals: Get approval within hours and enjoy fast disbursals
  • Online account management: Monitor your loan details and repayments easily through an online portal

Opting for a Bajaj Finserv business loan ensures access to these benefits while providing a reliable financial partner for your entrepreneurial journey.

Documentation and eligibility criteria

Lenders require minimal documentation and set straightforward eligibility criteria to make the process simple for borrowers. Below is an outline:

Eligibility criteria:

  • The applicant must be aged between 24 years (18 years age of non-financial applicant / Co-applicant / Guarantor) to 80 years*.
    *Higher age limit is applicable at the time of loan maturity.
  • The business should have been operational for at least 3 years
  • A good credit score (preferably 685 or higher) is essential
  • The applicant must provide proof of consistent annual turnover, audited by a chartered accountant

*24-80 years: 18 years age of non-financial applicant/co-applicant/guarantor. Higher age limit is applicable at the time of loan maturity.

Documents required:

  • KYC documents (Aadhaar card, PAN card, etc.)
  • Business proof (GST registration, shop establishment certificate, etc.)
  • Bank account statements for the last 6 months
  • Income tax returns for the past 2 years
  • Financial statements, including balance sheets and profit and loss statements

Submitting these documents ensures a smooth and quick loan approval process.

Interest rates and charges

Understanding the business loan interest rate and associated charges is crucial when planning your finances. Below is an overview:

Type of fee

Applicable charges

Rate of interest

14% to 25% per annum

Processing fee

Up to 0.0236 of the loan amount (inclusive of applicable taxes)

Flexi Facility Charge

Term Loan - Not applicable

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

Flexi Hybrid Term Loan (as applicable below) -

  • Up to Rs. 6,499/- (inclusive of applicable taxes) for loan amount less than Rs. 1000000/-.

  • Up to Rs. 8,999/- (inclusive of applicable taxes) for loan amount from Rs. 1000000/- to Rs. 1499999/-.

  • Up to Rs. 13,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-

  • Up to Rs. 16,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above.

*The above Flexi facility charges will be deducted upfront from the loan amount

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

Prepayment 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 Dropline Limit as per the repayment schedule as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (inclusive of applicable taxes) of the Dropline Limit as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

  • Term Loan: 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 Flexi Hybrid Term.

Annual maintenance charges

Term Loan – not applicable.

Flexi Term Loan (Flexi Dropline): Up to 0.413% (inclusive of applicable taxes) of the Dropline Limit (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Term Loan: Up to 1.18% (inclusive of applicable taxes) of the Dropline Limit during Initial loan tenor. Up to 0.413% (inclusive of applicable taxes) of Dropline Limit during Subsequent loan tenor.

Bounce charges

Rs. 3,000 per bounce.
“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge of 6% per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

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

Legal and incidental charges

Recovery of charges

Principal Holiday Facility Fees

Principal Holiday (as applicable below) - (Inclusive of applicable taxes)

Up to Rs. 6499 (Inclusive of applicable taxes) for loan amount less than Rs. 10,00,000.
Up to Rs. 8,999 (Inclusive of applicable taxes) for loan amount between Rs. 10,00,000 and 14,99,999.
Up to Rs. 13,999 (Inclusive of applicable taxes) for loan amount between Rs. 15,00,000 and Rs. 24,99,999.
Up to Rs. 16,999 (Inclusive of applicable taxes) for loan amount Rs. 25,00,000 and above.

Note-
The above principal holiday facility fees will be deducted upfront from loan amount.
Loan amount includes approved loan amount, Insurance Premium and VAS Charges.


Bajaj Finserv offers competitive business loan interest rates, making it an attractive option for Coimbatore entrepreneurs.

A business loan in Coimbatore can unlock new opportunities for growth and success. Whether you need funds for expansion, inventory, or operational expenses, loans from trusted lenders like Bajaj Finserv offer a perfect blend of flexibility, convenience, and affordability.

Take the first step towards achieving your business goals. Apply for a Bajaj Finserv business loan today and empower your dreams.

Frequently asked questions

How can I avail of lower interest rates?
To avail of lower interest rates in India, consider improving your credit score, which reflects your creditworthiness. Additionally, compare rates from various lenders and negotiate based on your financial profile. Opting for a shorter loan tenure can also help reduce the overall interest burden significantly over time.

Can I get a business loan without collateral in Coimbatore?
In Coimbatore, securing a business loan without collateral is possible through specific lenders like Bajaj Finserv offering unsecured loans. These loans typically cater to small businesses with good credit histories and cash flow. It is advisable to check eligibility criteria and terms with various financial institutions to find suitable options.

What is the repayment tenure for a business loan in Coimbatore?
The repayment tenure for a business loan in Coimbatore generally ranges from one to five years, depending on the lender and loan amount. Some institutions may offer flexibility in repayment terms, allowing borrowers to choose tenures that align with their cash flow and business needs. Always review the terms before committing.

Can I apply for a business loan in Coimbatore for upgrading equipment or machinery?
Yes, you can apply for a business loan in Coimbatore specifically for upgrading equipment or machinery. Many financial institutions provide loans tailored for such purposes, often with favourable terms. It is essential to present a solid business plan and demonstrate how the upgrade will enhance productivity or profitability.

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