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A business loan of Rs. 20 lakhs can provide eligible businesses with unsecured funding, flexible repayment options, and quick access to finance. Before applying, compare the interest rate, repayment tenure, eligibility criteria, and applicable charges to choose a loan that best suits your business requirements.
- A Rs. 20 lakh business loan from Bajaj Finance provides funding of up to Rs. 20 lakh without the need for collateral, making it suitable for business expansion, working capital, equipment purchases, or other business needs.
- The interest rate on Rs. 20 lakh business loan options ranges from 14% to 23.50% p.a., while eligible loans under ECLGS 5.0 are available at 8% to 13% p.a., subject to the applicable scheme and eligibility.
- Repayment tenures of up to 96 months allow businesses to spread the cost of borrowing over a longer period and manage cash flow more effectively.
- In most cases, approved loan amounts are disbursed within 48 hours, enabling businesses to address funding requirements without unnecessary delays.
- Eligibility generally includes a minimum CIBIL score of 650, a minimum business vintage of 3 years, age between 21 and 80 years, and a processing fee of up to 4.72% of the loan amount (inclusive of taxes), in accordance with the applicable product terms.
Use the Bajaj Finance Business Loan EMI Calculator to estimate your monthly repayments, compare different repayment scenarios, and plan your borrowing with greater confidence before applying.
Features and benefits of Business Loan of Rs. 20 lakh
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Quick disbursal
Get the funds you need for your business expansion within 48 hours of approval.
Requires no collateral
You can now get a business loan of Rs. 20 lakh without pledging any collateral. It means no more hassle of arranging security to get funds.
Minimal documentation
Submit basic documents to get a hassle-free business loan from Bajaj Finance.
Flexible tenors
Repay your loan easily over a long period of time of 96 months. You can also use the online Business Loan EMI Calculator and find an instalment amount that suits your budget.
Online account management
Download your account statements and manage your loan account 24x7 with our customer portal – My Account
Flexi facility
Choose our unique Flexi facility and lower your monthly outgo by up to 45%* for the initial tenor.
A business loan is specially designed to solve any monetary requirements of a company. Availing of a business loan of Rs. 20 lakh is not a hassle once you fulfil the eligibility parameters and submit the required documents. You can check your pre-approved offer from Bajaj Finance to expedite the processing time.
Eligibility criteria for a business loan of Rs. 20 lakh
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Nationality
Resident Indians
CIBIL score
650
Business vintage
3 years minimum
Age
21 to 80 years*
(*Age should be 80 years at Loan Maturity)
Documents required for a business loan of Rs. 20 lakh
To apply for a Rs. 20 lakh business loan, eligible applicants are generally required to submit KYC documents, address proof, financial documents, and proof of business ownership. Keeping these documents ready can help speed up the application and verification process.
Document category Examples KYC documents Aadhaar card, PAN card, voter ID card, driving licence, passport Address proof Utility bills, rent agreement, passport Financial documents GST return copy, bank account details for the last 6 months Proof of business ownership Business registration papers The exact documents required may vary according to the lender's verification requirements and the applicant's business profile.
Check your pre-approved business loan offer
Business loan of Rs. 20 lakh: Interest rates and applicable charges
The interest rate on Rs. 20 lakh business loan options from Bajaj Finance ranges from 14% to 23.50% p.a., depending on your credit profile, business financials, and eligibility. If you are considering a business loan of Rs. 20 lakhs, all applicable interest rates, fees, and charges are disclosed before loan disbursal in accordance with the Reserve Bank of India's Fair Practices Code, enabling you to make an informed borrowing decision.
| Types of fees | Applicable charges |
|---|---|
| Rate of interest per annum | 14% to 23.50% p.a. ECLGS 5.0: 8% to 13% p.a. (RBI Repo Rate/BFRR + applicable spread). The interest rate under ECLGS 5.0 is capped at 13% p.a. |
| Processing fee | Up to 4.72% of the loan amount (inclusive of applicable taxes). |
| Flexi facility charge | Term Loan: Not applicable. Flexi Loan: Up to Rs. 999 to Rs. 16,999 (inclusive of applicable taxes), deducted upfront from the loan amount. |
| Stamp duty | Payable as per the applicable state laws and deducted upfront from the loan amount. |
| Annual maintenance charges | Term Loan: Not applicable. Flexi Term (Dropline) Loan: Up to 0.59% (inclusive of applicable taxes) of the Dropline Limit, as per the repayment schedule, on the date of levy. Flexi Hybrid Term Loan: Up to 1.18% (inclusive of applicable taxes) of the Dropline Limit during the initial loan tenor and up to 0.59% (inclusive of applicable taxes) during the subsequent loan tenor. |
| Credit guarantee scheme fee | CGFMU: Up to 1.18% p.a. (pro-rated daily until 31 March) (inclusive of applicable taxes) of the loan amount. CGTMSE: Up to 0.885% (inclusive of applicable taxes) of the loan amount for the first 12 months. |
| Renewal credit guarantee fee | CGFMU: Up to 1.18% p.a. (inclusive of applicable taxes) on the outstanding loan amount/Dropline Limit as on 1 April of each subsequent financial year. Applicable for up to three subsequent financial years. Where the remaining tenure is less than 12 months, the fee is charged on a pro-rata basis. CGTMSE: Up to 0.885% (inclusive of applicable taxes) annually on the outstanding loan amount/Dropline Limit as on the last day of the month preceding the anniversary date of pool submission. Where the remaining tenure is less than 12 months, the fee is charged on a pro-rata basis. |
| Prepayment charges | Full prepayment: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount for Term Loan, Flexi Term (Dropline) Loan, and Flexi Hybrid Term Loan. Part prepayment: Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount prepaid. Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan: Not applicable. |
| Bounce charges | Rs. 1,500 per bounce. Applicable where a payment instrument is dishonoured or an instalment remains unpaid due to dishonour or non-registration of the payment mandate, or for any other reason. |
| Penal charge | Delay in payment of instalments attracts a penal charge of 36% p.a. per instalment, calculated from the respective due date until the full instalment amount is received. |
ECLGS 5.0: Eligible borrowers under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 may avail of business loans at interest rates ranging from 8% to 13% p.a., subject to the applicable scheme guidelines and eligibility criteria.
How to apply for a business loan of Rs. 20 lakh?
To apply for a business loan of Rs. 20 lakh, here are the steps to follow.
- Click on APPLY ONLINE to open our application form
- Enter your phone number and authenticate with an OTP
- Fill in basic personal and business details
- Upload your bank statement for the last 6 months and submit the form
Once you submit the form, you will get a call from our representative to guide you on further steps. Check your business loan eligibility now to take the first step towards securing timely funds.
Why choose Bajaj Finance for Rs. 20 lakh business loan
Bajaj Finance offers a hassle-free business loan of Rs. 20 lakh without the need for any collateral, making it easier for businesses to access funds quickly. With minimal documentation and a simple application process, you can get your loan approved and disbursed within 48 hours. The loan comes with flexible repayment tenures of up to 96 months, allowing you to choose EMI amounts that suit your budget using the online calculator. Additionally, the unique Flexi facility lets you reduce your monthly payments by up to 45% during the initial period. Manage your loan conveniently anytime via the online portal, making Bajaj Finance a smart choice for growing your business efficiently.
Business loans with other amounts
| Business Loan of Rs. 10 lakh | Business Loan of Rs. 15 lakh |
| Business Loan of Rs. 30 lakh | Business Loan of Rs. 25 lakh |
How to get a Rs. 20 lakhs loan for business?
If you are wondering how to get Rs. 20 lakh business loan instantly, the fastest option is to apply online with Bajaj Finance, where eligible applicants can access a business loan of Rs. 20 lakh without collateral, with loan disbursal in up to 48 hours after approval and verification.
- Check your eligibility for a business loan of Rs. 20 lakh, including the minimum business vintage, CIBIL score, age criteria, and other lender requirements.
- Keep your documents ready, including your KYC documents, business registration documents, GST returns, and bank account statements, to support faster verification.
- Complete the online application, verify your mobile number through OTP, upload the required documents, and complete the digital KYC process.
- Receive approval and disbursal. Once your application is approved, the loan amount may be disbursed in up to 48 hours. Interest rates generally range from 14% to 23.50% p.a., depending on your eligibility and credit profile.
To apply for business loan Rs. 20 lakh online, visit the Bajaj Finance website, check your pre-approved offer, and complete the digital application process in just a few steps.
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Frequently asked questions
Overview
Calculator
Features
How much salary is needed to get a Rs. 20 lakh loan?
To qualify for a Rs. 20 lakh loan, your monthly salary typically needs to be around Rs. 40,000 to Rs. 50,000 or more, depending on the lender, tenure, and interest rate.
How to get Rs. 20 lakhs immediately?
You can apply online with a trusted lender by submitting basic documents and completing verification. Once approved, the loan amount can be disbursed within 24 to 48 hours.
Can I get a business loan with a 20-year repayment tenure?
No, a business loan repayment tenure of 20 years is generally not available for unsecured business loans. Bajaj Finance offers eligible Business Loans with repayment tenures ranging from 12 months to 96 months. The exact tenure offered depends on your eligibility, loan amount, and lender assessment. If you require a longer repayment period, you may need to explore other financing options designed for different borrowing requirements.
Should I choose a 10-year or a 20-year business loan tenure?
Choose the business loan repayment tenure that best matches your cash flow, as a shorter tenure is generally more cost-effective if you can comfortably afford the higher EMIs. A shorter tenure results in a higher 20 lakh business loan EMI but reduces the total interest paid over the loan term. A longer tenure lowers your monthly EMI, making repayments more manageable, but increases the overall interest cost. Compare different repayment options using a business loan EMI calculator before making your decision.
Why we pay 20 percent loan amount business?
Lenders do not generally charge 20% of the business loan amount. At Bajaj Finance, eligible borrowers may pay a processing fee of up to 4.72% of the loan amount (inclusive of applicable taxes), which is deducted upfront to cover the cost of processing, verifying, and disbursing the loan. Along with the business loan interest rate 20 lakh borrowers qualify for, this fee forms part of the overall borrowing cost, so it is important to review all applicable charges before accepting the loan offer.
What are the business loan options for Rs. 20 lakhs in India?
A business loan of 20 lakhs from Bajaj Finance is available as a Term Loan, Flexi Term (Dropline) Loan, or Flexi Hybrid Term Loan. All three options offer repayment tenures of up to 96 months, allowing eligible borrowers to choose between fixed EMIs, flexible withdrawals, or lower initial EMIs based on their business cash flow and funding requirements.
Can I get a Rs. 20 lakh business loan without collateral?
Yes, Bajaj Finance offers a business loan of 20 lakhs without requiring collateral for eligible borrowers. Instead of pledging assets, your eligibility is assessed based on factors such as your CIBIL score of 650 or above, business vintage, income, repayment capacity, and other lending criteria. Approval is subject to Bajaj Finance's credit assessment and verification process.
What is the Flexi facility on a Rs. 20 lakh business loan?
The Flexi facility on a Rs. 20 lakh business loan from Bajaj Finance allows eligible borrowers to withdraw funds from the sanctioned loan limit as and when required, instead of taking the entire amount at once. You pay interest only on the amount utilised, helping reduce interest costs. Depending on your requirements, you can choose a Flexi Term (Dropline) Loan or a Flexi Hybrid Term Loan, both of which offer greater repayment flexibility than a standard term loan.
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Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.