Business Loan in Visakhapatnam

Overview

The financial capital of Andhra Pradesh, Visakhapatnam is the 9th richest city in India, with an estimated GDP of Rs.2.79 lakh crore. With the government planning a major boost for the MSME industry in Visakhapatnam, the number of small and medium industry players are also at a constant rise.

Diversify your business, meet working capital needs and manage daily operational expenses with Bajaj Finserv Business Loans that come with a unique Flexi Loan facility.

Business Loan in Visakhapatnam Features and Benefits

Here are the benefits of our business loan:

Flexibility

The Flexi Loan facility by Bajaj Finserv allows you to borrow funds as per your requirements and repay the amount when you can.
Collateral-free loans

Apply for a Business Loan from Bajaj Finserv without the additional hassle of arranging for a guarantor or pledging any asset.
Financing up to Rs.20 lakh

Business loans from Bajaj Finserv offers maximum financing of Rs.20 lakh.
Pre-approved offers

Existing Bajaj Finserv customers can avail pre approved loans with customized offers.
Flexible tenors

Flexi Loans from Bajaj Finserv enable you to avail loans with flexible tenors, the maximum loan repayment period being 8 years.
Online account access

Manage your business loan from anywhere, anytime through our customer portal - Experia.

Documentation and Eligibility Criteria

To avail business loans in Visakhapatnam, you need to fulfill the following criteria:

You should be between 25-55 years old
Business vintage of at least 3 years
Filing of business IT returns for at least past 1 year
Previous year's turnover duly audited by a CA

You may need to submit other relevant financial documents, the details of which would be conveyed as and when required.

Business Loan Interest Rate and Charges

Types of Fees
Applicable Charges

Rate of interest
18% onwards

Processing fees
Up to 2%

Loan statement charges
NIL

Interest & principal statement charges
NIL

EMI bounce charges
Rs.2,500 for every bounce

Penal interest
2.00% p.m

Secure fee
NA

Industries Served

Bajaj Finserv extends business loan facilities for business owners operating in the Aluminium, Automobiles / Auto-Ancillaries, Cement, Chemicals, Engineering / Construction, Power / Energy, Fertilizers, Food, Pharmaceuticals / Drug Manufacture, Paints, Steel / Steel Profiles, Sugar and Textile industries.