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.
Bajaj Finserv Term Loans for Business offer various features and benefits like:
Term loan for business comes with flexible repayment tenors, ranging up to 84 months.
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%*.
Apply easily in a simple online process and get money in your bank account in just 24 hours* of approval.
For quick funds and faster processing, existing customers of Bajaj Finserv can avail of exclusive pre-approved loan offers.
You can manage your Bajaj Finserv Term Loan statement online, from anywhere at any time through Experia, the online customer portal.
The following are the prerequisites for a Bajaj Finserv Term Loan:
Documentary support for the above will be required for verification.
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.
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