The tenure for ESOP financing ranges from 7 days to 36 months.

Here are the charges to avail of ESOP financing:

• Rate of interest
• Processing fees
• Pledge/ unpledged charges
• Demat account opening charges
• AMC charges for Demat account
• Documentation charges

Any employee of the companies approved by Bajaj Finance Limited can avail of funds for ESOP.

The employee needs to fill up the loan application form, and the new Power of Attorney (POA) based Demat account form and submit them to Bajaj Finance Limited.

• The employee has to submit their ESOP grant letter issued by the employer.
• Bajaj Finance will check/verify the documentation and open the loan account plus a POA Demat account for ESOP finance.
• The employee will have to submit a pledge form, duly signed, to Bajaj Finance Limited.
• Bajaj Finance will calculate the loan eligibility amount and inform the employee of the same.
• The employee should mention the POA Demat account number created for ESOP financing and initiate the application to exercise ESOP.
• Bajaj Finance will RTGS/issue a cheque in favour of the respective employer on behalf of the employee, based on the eligibility amount and ESOP requirement.
• The employee should inform the date of allotment of shares to Bajaj Finance.
• The employer must then allot shares into the POA Demat account of the employee, where the POA is in favour of Bajaj Finance Limited.
• Bajaj Finance will create a pledge on those shares once the shares are allotted in the POA Demat account.

Interest is calculated based on the tenure you opted for ESOP financing at the time of application. However, Bajaj Finance charges a minimum of 30 days of interest if the loan is repaid within 30 days.