Business loan up to Rs. 24 lakh is an unsecured financing facility offering funding within a sanctioned range of Rs. 2 lakh to Rs. 80 lakh for business expansion, working capital, or operational requirements. You can check eligibility and apply online using PAN, business details, and OTP-based verification with disbursal within 48 hours* of approval.
A business loan up to Rs. 24 lakh is an unsecured credit facility offered to self-employed individuals, SMEs, and proprietors to meet working capital, expansion, and operational funding needs. As per standard product structure, it falls within a broader unsecured loan range starting from Rs. 2 lakh to Rs. 80 lakh with repayment through EMIs over a tenure of up to 96 months.
In summary
- A business loan up to Rs. 24 lakh is an unsecured financing option used for expansion, inventory, and working capital needs, falling within a broader sanctioned range of Rs. 2 lakh to Rs. 80 lakh with repayment tenures up to 96 months.
- Applicants with stable business income, typically a CIBIL score of 700 or above and at least 2 years of operational history, are generally considered for approval across major cities including Chennai, Coimbatore, and Hyderabad.
- For example, a Rs. 24,00,000 loan at an interest rate starting from 14% per annum over 60 months results in an estimated EMI of approximately Rs. 56,004 per month using the reducing balance method.
- This page covers features, eligibility, documents, interest rates starting from 14% per annum, and the application process for a Rs. 24 lakh business loan.
Features and benefits of business loan up to Rs. 24 lakhs
A business loan under this category offers structured financing within Bajaj Finserv’s unsecured business loan framework of Rs. 2 lakh to Rs. 80 lakh, supporting MSMEs with predictable EMIs and flexible usage.
- Loan amount ranging from Rs. 2 lakh to Rs. 80 lakh for business expansion, inventory, and working capital needs
- Repayment tenure up to 96 months depending on eligibility and credit profile
- No collateral or security requirement for unsecured funding
- Interest rate starting from 14% per annum based on risk assessment
- Disbursal within 48 hours* of approval and document verification
- Digital onboarding with OTP-based verification and minimal paperwork
- Flexible repayment option via flexi business loan for improved liquidity management
- Benefits and use cases explained under benefits of a business loan
- Full feature structure available at business loan features
Example scenario
A textile wholesaler in Coimbatore with an annual turnover of Rs. 45 lakh uses a Rs. 24 lakh business loan to purchase bulk inventory ahead of festive demand, ensuring uninterrupted operations without affecting working capital.
Eligibility criteria for Rs. 24 lakhs business loan
Eligibility is assessed based on income stability, credit profile, and business continuity aligned with Bajaj Finserv’s unsecured business loan criteria.
- Minimum business vintage of around 2 years or more depending on profile
- CIBIL score of 700 or above preferred for higher approval probability
- Stable monthly income sufficient to support EMI repayment
- Self-employed individuals, sole proprietors, and MSMEs eligible
- Valid KYC documents including PAN and Aadhaar required
- Detailed eligibility norms available at business loan eligibility
Example scenario
A Chennai-based service provider earning Rs. 1.2 lakh per month with a CIBIL score of 735 qualifies for a Rs. 24 lakh business loan based on repayment capacity, turnover stability, and credit behaviour.
Documents required for Rs. 24 lakhs business loan
Documentation is required to verify identity, income, and business continuity for underwriting within the unsecured loan framework.
- PAN card and Aadhaar card for identity verification
- Business registration proof such as GST certificate, Udyam registration, or trade licence
- Bank statements for the last 6–12 months
- Income tax returns (ITR) for 1–2 financial years
- Business and residential address proof
Example use case
A retailer in Hyderabad submits GST registration, bank statements, and ITR filings to complete verification and proceed with loan processing under a digital approval system.
Interest rates and charges for business loan up to Rs. 24 lakh
Interest rates are determined based on credit profile, income stability, and tenure, starting from 14% per annum as per Bajaj Finserv business loan structure.
- Interest rate starting from 14% per annum and going higher based on risk profile
- Loan offering range from Rs. 2 lakh to Rs. 80 lakh
- Tenure up to 96 months depending on eligibility
- Processing fees and foreclosure charges applicable as per terms
- EMI calculated using reducing balance method
- Full rate details available at business loan interest rate
- EMI estimation available via business loan EMI calculator
EMI example
For a Rs. 24,00,000 loan at 14% per annum over 60 months, the estimated EMI is approximately Rs. 56,004 per month, subject to final sanctioned terms.
How to apply for a business loan up to Rs. 24 lakh
Applying for a Rs. 24 lakh business loan involves a fully digital process designed to simplify verification and improve approval turnaround time.
- Visit the official business loan page
- Enter personal, business, and income details in the online application form
- Complete OTP-based mobile verification
- Upload required documents for eligibility assessment
- Receive sanction decision based on credit evaluation and underwriting norms
