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.
Bajaj Finserv Term Loans for Business offer various features and benefits like:
The most important feature of term loans for business is that they offer flexible repayment tenors, ranging up to 84 months.
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.
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.
Bajaj Finserv customers get access to exclusive pre-approved loan offers, which may include top-up loans, occasional reduction in rates, etc.
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||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.
Get up to Rs.45 lakh to upgrade equipment | Pay only interest as EMIKNOW MORE
Convert your existing loan | Pay lower EMIs by up to 45%*KNOW MORE
Get up to Rs.45 lakh to manage operations | Flexible tenor optionsKNOW MORE
Get funds up to Rs.45 lakh | Minimal documentationKNOW MORE