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Collateral is an asset, having a measurable financial value, that you can borrow against. Assets like real estate, machinery, vehicles, even stocks and shares can be pledged to avail a loan. However, if you are unable to repay the loan, the lender has the right to assume permanent possession of the asset and liquidate it to recover the outstanding amounts.
On the other hand, collateral-free loans do not require you to pledge any asset as security. It brings peace of mind and opens up unlimited opportunities. One can avail collateral-free loans for various purposes. Such loans can help you meet business goals as well as personal needs like higher education, medical emergencies, marriage expenses, etc.
Bajaj Finserv extends collateral-freebusiness loans at competitive interest rates and flexible repayment options.
Flexi loan limit for collateral-free Business Loans can go up to Rs. 45 lakh. Use this EMI calculator for computing the EMI of your collateral free loan.
Collateral loans have a tenor of up to 84 months, enabling you to achieve your financial goals without being burdened about immediate repayment.
Access your loan account from anywhere at your convenience, with Experia, our customer portal.
Eligibility criteria for availing a collateral-free Business Loan:
Age between 25-65 years
Your business should have a vintage of at least three years
Your business should have filed Income Tax returns for at least the previous year
Your business should have its previous year's turnover duly audited by a CA
Bajaj Finserv brings transparency and clarity about loan rates and charges. The following are the current charges:
Online Application
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Through SMS
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SMS ‘BL’ to 9773633633
A business loan EMI calculator helps you know the monthly instalments you have to pay, thereby helping you plan your repayment with ease.
Enter the below on the EMI calculator:
A Business Loan EMI Calculator is simple to use. All you need to do is enter the loan amount, tenor (in months) and the rate of interest, and you’re done.
You can repay your Business Loan in various ways. One of the easiest methods is to pay your loan through an Equated Monthly Instalment (EMI), where your loan gets divided into equal fixed sums that are paid on a monthly basis until your loan has been fully repaid. An EMI consists of the loan’s principal amount and the interest accrued on it.
This repayment method makes it easy for small businesses that operate on tight cash and want to fund expensive purchases like equipment, plant and machinery, etc. but don’t have enough liquidity to pay up-front for such costs.
A small business loan calculator helps you calculate your monthly EMIs on your business loan.
This calculator helps you to predetermine the amount need to pay at the end of every month, helping you to opt for a loan amount that matches the short-term plans of your business and thus, facilitating your cash resources planning.
Bajaj Finserv offers low Business Loan interest rates, which make your EMIs affordable and help you repay the loan comfortably with lesser chances of defaulting.
The following is the interest and other charges on business loans:
Business Loan Interest Rate in India | |
---|---|
Types of Fees | Applicable Charges |
Rate of interest | 18% p.a. onwards |
Processing fees | Up to 2% of the loan amount (plus applicable taxes) |
DOCUMENT/STATEMENT CHARGES Statement of Account/ Repayment Schedule/Foreclosure Letter/No Dues Certificate/Interest Certificate/List of documents |
Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificates/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of taxes) per statement/letter/certificate. |
Bounce charges | Up to Rs. 3000 (Inclusive of applicable taxes) |
Penal interest (Applicable in case of non-payment of monthly Instalment on/before the Due - Date) | 2% per month |
Document processing charges (Recently Updated) | Rs. 2000 + applicable taxes |