Term Business Loan | Term Loans for Business Online in India

Term Loans for Business

Term loans for business are credit facilities availed for a pre-defined term. This financial solution is useful when the funding requirement is well-defined and time-bound. These loans have a specific repayment schedule and are available at both, fixed or floating interest rates. Based on the duration, term loans can be classified into short-term loans, intermediate-term loans, and long-term loans.

These loans could be either secured or unsecured and can be used for a variety of purposes such as increasing working capital, buying new machinery, or leasing bigger office premises.

Term Loans for Business: Features and Benefits

Bajaj Finserv Term Loans for Business offer various features and benefits like:

Flexible tenors

Term loan for business comes with flexible repayment tenors, ranging up to 84 months.
Flexi loan facility

Choose the exclusive Flexi loan facility, that allows you to borrow what you need within a fixed loan limit. You can also choose to pay interest only EMIs and lower your monthly instalment by up to 45%*.
Quick approval and disbursal

Apply easily in a simple online process and get money in your bank account in just 24 hours* of approval.
Pre-approved offers

For quick funds and faster processing, existing customers of Bajaj Finserv can avail of exclusive pre-approved loan offers.
Online account access

You can manage your Bajaj Finserv Term Loan statement online, from anywhere at any time through Experia, the online customer portal.

Term Loans for Business: Eligibility Criteria and Documents Needed

The following are the prerequisites for a Bajaj Finserv Term Loan:

Age: Between 24 to 70 years*
(*Age should be 70 years at loan maturity.)
Your business should have a vintage of at least 3 years
Your business should have its previous 2 years turnover duly audited by a CA

Documentary support for the above will be required for verification.

Term Loan Interest Rates and Charges

Bajaj Finserv brings transparency and clarity about term loan rates and charges. The following are the current charges:

Fee Type	Charge applicable
Rate of interest	17% p.a. and onwards
Processing fees	Up to 2% of the loan amount (plus taxes)
Bounce charges	Up to Rs.3,000 (Inclusive of taxes)
Penal interest	2% per month
Document processing charges	Rs.2,000 (plus taxes)
Outstation collection charges	Not applicable
Document/statement charges	Download loan documents at no additional cost by logging into the customer portal – Experia. You can also get a physical copy of your documents from any of our branches at a charge of Rs.50/- (inclusive of taxes) per statement/letter/certificate.