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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. They are useful when the funding requirement is well-defined and time-bound. These loans also have a specific repayment schedule and can offer 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, like 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

    The most important feature of term loans for business is that they offer flexible repayment tenors, ranging up to 84 months.

  • loan against property emi calculator

    Flexi loan facility

    Our term loans for business come with a Flexi loan facility, that allows you to borrow what you need within a fixed loan limit. You can also choose to pay only the interest as EMI and repay the principal amount later.

  • education loan online

    Quick approval and disbursal

    Term loans for business are easy to apply and avail. A fast-track approval process allows you to get the funds in your bank account within 24 hours* of approval.

  • Pre-approved offers

    Pre-approved offers

    Bajaj Finserv customers get access to exclusive pre-approved loan offers, which may include top-up loans, occasional reduction in rates, etc.

  • 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 25 and 65 years
  • Your business should have a vintage of at least 3 years
  • Your business should have filed ITR for at least the previous year
  • 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 18% 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 with your pre-approved offer

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