Features and benefits

  • Flexi perks

    Flexi perks

    Avail of the Flexi facility on the collateral free business loan to reduce EMIs by up to 45%* by paying only interest as EMIs.

  • Borrow up to %$$BOL-Loan-Amount$$%

    Borrow up to Rs. 80 lakh

    Use this ample funding for any business-related needs. Moreover, be sure to use the EMI Calculator to borrow efficiently.

  • Easy repayment

    Easy repayment

    Choose a flexible tenure that ranges from 1 year to 8 years for maximum repayment comfort.

  • Digital tools

    Digital tools

    Use our online loan account to access your loan statement and manage your EMIs at any time and from anywhere.

Any asset you own, be it personal or business-related, can be used financially. You can use it as collateral and borrow an amount based on its value. This is usually the approach taken when you require a large sum of money, but with the collateral-free business loan from Bajaj Finance, you get collateral free loan.

What is a Collateral Free Business Loan?

A collateral-free business loan is a financing option where borrowers do not need to pledge assets as security. Lenders approve these loans based on creditworthiness, business performance, and repayment capacity. With Bajaj Finance, you do not need to risk your assets. You can avail of a sizable sanction easily and without any long-winding processing hassles. Our unsecured business loans are easy to apply for using a short and simple online form. All you need to do is meet the simple eligibility criteria and submit minimal documents to enjoy fast approval in just 48 hours*.

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Eligibility criteria and documents required

  • Age

    Age

    24 years to 80 years*
    (*age should be 80 years at the time of loan maturity).

  • Nationality

    Nationality

    Indian

  • Work status

    Work status

    Self-employed

  • Business vintage

    Business vintage

    3 years

  • Credit Score

    Credit Score

    685 or higher

Documents required:

  • KYC documents - Aadhaar/ passport/ voter’s ID
  • PAN card
  • Proof of business ownership
  • Other financial documents

Interest rate and fees applicable

With our loan, you can borrow affordably and without the worry of hidden charges. Refer to this table for a breakup of a few of the fees and charges applicable.

Type of fee Applicable charges
Rate of interest 9.75% - 30% per annum
Processing fees Up to 3.54% of the loan amount (inclusive of applicable taxes)
Bounce charge In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.
Document processing charges Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee

Term Loan - Not applicable

Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Variant (as applicable below) - A fee will be deducted upfront from the loan amount

  • Up to Rs. 5,999/- (inclusive of applicable taxes) for loan amount less than Rs. 10,00,000/-
  • Up to Rs. 7,999/- (inclusive of applicable taxes) for loan amount from Rs. 10,00,000/- to Rs. 14,99,999/-
  • Up to Rs. 12,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-
  • Up to Rs. 15,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above

*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Penal interest Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
Pre-payment charges

Full Pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
Stamp duty (as per respective state)
Payable as per state laws and deducted upfront from the loan amount.
Mandate rejection charges Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
Broken Period Interest/ Pre-EMI Interest

Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:

  • For Term Loan: Deducted from the loan disbursement
  • For Flexi Term Loan: Added to the first instalment
  • For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

Annual maintenance charges

Term Loan – Not Applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.

Switch Fees* Up to 1.18% of the loan amount (inclusive of applicable taxes)


*Switch Fee is applicable only in case of switch of loan. In switch cases, Processing Fees and Documentation Charges will not be applicable.

How to apply

To apply for the business loans without collateral, simply follow these steps:

  1. 1 Click on the ‘APPLY' button on this page.
  2. 2 Enter your 10-digit mobile number and OTP.
  3. 3 Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. 4 Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
  5. 5 Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid.
  6. 6 Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
  7. 7 Complete your KYC and submit your business loan application.

Frequently asked questions

Do I need to provide any collateral for a business loan?

Collateral requirements depend on the type of business loan that you are opting for. Some loans, like secured loans, require collateral, while collateral-free loans, such as unsecured loans, do not necessitate assets as security.

What is the maximum amount can I get in a collateral free loan?

With Bajaj Finance, you can get a collateral free business loan of up to Rs. 80 lakh. The final loan amount depends on your creditworthiness, and business financials.