Working capital

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Cash Credit Loan

Meet the urgent day-to-day, short-term capital requirements of your business with a cash credit loan from Bajaj Finserv. Get capital of up to Rs. 45 lakh with minimum documentation and fulfil your financial commitments like buying raw materials, paying suppliers or maintaining liquidity for your business.
 

What is a Cash Credit Loan Facility?

A cash credit loan is one of the types of working capital loan that is used to meet the day-to-day expenses of a business. This type of loan allows business owners to withdraw funds from a pre-specified limit as and when required.

Companies can use the funds to overcome a cash crunch situation and run regular activities like paying salaries, rent, storage, warehousing, purchasing raw materials, and much more.
 

Features of Cash Credit Loan

  • Large unsecured working capital

    Bajaj Finserv offers instant cash credit loan up to Rs. 45 lakh without pledging any personal or business asset as collateral against the loan.

  • Flexible repayment

    Cash credit facility from Bajaj Finserv comes in the form of a Flexi loan, which is an ideal way to manage dynamic financial requirements. In this scheme, you can withdraw the amount that you need from a pre-set limit and pay interest only on this sum. You can also choose to pay only interest as your EMIs for the initial part of the tenor. This feature helps to lower the EMIs by up to 45%*.

  • Loan disbursal within 24 hours*

    Quick approval and disbursement

    With simple eligibility criteria and a quick online loan application process, you can get funds within 24 hours of approval to meet the urgent needs of your business.

  • Track cash credit online

    Easily track your cash credit finance and other loan-related information on the online account.

Cash Credit Loan Eligibility

Business owners can meet simple cash credit loan eligibility to avail of hassle-free working capital loan up to Rs. 45 lakh. The following factors are used to determine eligibility –
 

  • Age and credit score
    The applicant must be within 25 years and 65 years of age. Additionally, the primary borrower should possess a CIBIL score of 750 or above.You must be between 25 years and 65 years of age.

  • Business vintage
    To avail of a cash credit loan, applicants must own a business with a minimum vintage of 3 years.

  • Financial proof
    Income tax returns for the applicant’s business should be filed for a minimum of 1 year.

Documents Required for Cash Credit Loan

To avail of a micro loan online, you have to submit only a handful of documents. Here is the list of the required documents:
KYC documents: Government-approved ID cards such as Aadhaar, PAN, Voter ID, driving license, etc.
Address proof: Apart from KYC documents, borrowers also need to submit proof of address like electricity or telephone bill, rent agreement, etc.
Ownership proof: Depending on the ownership, borrowers must submit a proprietorship document or ownership deeds of the company.
 

Cash Credit Interest Rates and Fees

The following interest rates and charges are applicable on a cash credit facility-
 

Particulars Applicable charges
Rate of interest 18% p.a. onwards
Processing charge Up to 2% of corpus + taxes
Bounce charges Up to Rs. 3000
Penalty for defaulting 2% p.m.
Document processing fees Rs. 2000 + taxes
Outstation collection fees NA
Document and statement fees E-statements can be downloaded at no additional cost from the online customer portal – Experia.
Obtain a physical copy of credit cash loan documents from any of our branches at Rs. 50 per certificate.

How to Calculate Cash Credit Interest Rates

In a facility of cash credit, interest is charged only on the amount withdrawn from the preset limit. Interest is charged on a per day basis. As such, borrowers who repay the withdrawn amount within the same day do not attract any interest whatsoever. The total interest can be repaid in EMIs, and the principal corpus can be repaid at the end of the loan tenor.

The interest rate charged on a credit cash loan depends on several factors, such as business credit history, type of enterprise, which sector the company is in, business vintage, audited bank statements, etc. You can use a business loan EMI calculator to estimate the monthly outgo you are likely to pay on the cash credit loan.

Working capital is one of the best indicators of a company’s financial well-being, and you should monitor it closely to determine business performance. To bolster your business’s financial health and meet day-to-day expenses, a quick and hassle-free cash credit loan from Bajaj Finserv is the perfect solution.
 

Benefits of Working Capital Finance for your Business

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