Business Loan in Erode

Overview

Agriculture is the dominant aspect of Erode's economy. Known as the Turmeric City, Erode is also famous for textile products, ready-made garments, and lock manufacturing. It is also home to several mills that produce oil, rice and cotton.

If you are a manufacturer or trader you can avail a Bajaj Finserv Business Loan in Erode to upgrade your machinery, increase your working capital, or expand your business with the Flexi Loan facility of up to Rs. 45 lakh.

Business Loan Features and Benefits

Benefits of our business loans are:

Flexi loan facility

Bajaj Finserv offers Flexi loan facility that allows you to borrow as per your need and repay when you can.
Financing up to Rs.45 lakh

You can avail a business loan of up to Rs. 45 lakh for the financial needs of your business. Our business loan EMI calculator help you to know your EMIs.
Collateral-free loans

Bajaj Finserv business loans do not require you to pay any collateral.
Flexible tenors

Business loans range up to 84 months.
Pre-approved offers

We provide special offers to the existing Bajaj Finserv customers.
Online account access

You can manage your loan account from anywhere with ourcustomer portal Experia.

Documentation & Eligibility Criteria

Business loan eligibility criteria are:

You should be between 25-65 years old
Your business should have a vintage of at least 3 years
Your business should have its Income Tax returns filed for at least the past 1 year
Your business should have its previous year's turnover, duly audited by a CA

You may need to submit other relevant financial documents at the time of document verification. You will be informed of these as and when required.

The Business Loan customer profiles include self-employed professionals, self-employed non-professionals, and entities.

Interest Rates and Charges

Types of Fees
Applicable Charges

Rate of interest
18% onwards

Processing fees
Up to 2%

Loan statement charges
NIL

Interest & principle statement charges
NIL

EMI bounce charges
Rs.2,500 for every bounce

Penal interest
2.00% p.m

Secure fee
NA

Part Prepayment Charges For Flexi Interest
-only Loan & Flexi Term Loan facilities
NIL

Industries Served

You can avail our business loans, if you own mills - oil, rice, cotton; or if you are a business owner in industries such as textile, turmeric and lock.

Contact Us

Online Application

Click here to apply and fill the mandatory details
On submission, our Erode representative will get in touch with you along with your pre-approved offer

Simply SMS