Term loans for business

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Term Loans for Business

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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:

  • mortgage loan interest rates

    Flexible tenors

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

  • loan against property emi calculator

    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%*.

  • education loan online

    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

    Pre-approved offers

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

  • Education loan scheme

    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.

Term Loan for Business: How to Apply

  • Click here to apply
  • Fill in the details and click ‘Submit’
  • Our representative will contact you for further processing

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