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Frequently Asked Questions



Q1. Why should I take a business loan?

No business can run successfully in case of shortage of capital. You can get a business loan from Bajaj Finserv for your short or long term financial needs. Whether your business is at an initial stage or in the growth phase, additional finance can help you keep up the momentum.

A.Can the credit limit for a business loan be increased?

This is subject to the eligibility criteria at the time of your request, and may be done at the sole discretion of Bajaj Finserv. You may submit a request letter to us, and if requested, fresh documents for the enhanced amount application.


Q2. How does a line of credit work?

A line of credit is different from most term loans. Post approval, you can generally borrow whenever you want. There is no need for you to take the money immediately after approval. As long as you have not borrowed the maximum limit, you can continue to borrow a little bit today, and more tomorrow if need be. You pay interest only on the amount you’re borrowing, and you always have the option of paying off the loan and start borrowing again.

A.How do I calculate the interest on the line of credit?

It’s pretty simple. Here is a formula you can use: Interest= (Amount Used * Rate of Interest)/360* Number of days’ funds used


Q3. What is the difference between Line of Credit and a Term Loan?

Term Loan: Customer avails loan and uses the same as a FIXED credit line with renewal option every year. Option to prepay with surplus funds as well as withdraw within the available limit Repayment of interest only every month, applicable on the utilized amount.

Line of Credit: Customer avails loan and repays in equated installments normally option to prepay with surplus funds, but no withdrawal options. Repayment of interest and principal every month.


Q4. What is the cash flow benefit on Line of Credit?

Following table explains the cash flow benefit on a sample loan of 20 lacs.

Calculate the cash flow savings on your loan now by using the LOC calculator – link to the calculator


Q5. How long does it take to get funding?

You can get a business loan for up to Rs.30 lakh within 72 hours. The approval time may vary depending on the loan amount you apply for. Once your upload your documents, a Bajaj Finserv representative collects your documents from your doorstep. Once the documents are verified, your loan amount will be disbursed immediately.


Q6. Do I need a business plan when applying for a business loan?

If you are an existing business in operation for more than three years, you may need to compile and submit a summary of the history and nature of your business. If you are looking to expand your business in some way, you may have to explain your expansion plans based on market scenarios and how the expansion will positively affect revenue.


Q7.What documentation will I need when I submit my business loan application?

You will have to submit the application forms duly filled, in addition to KYC Document, Business Vintage of three years and Business proof (certificate of practice), and bank account statement of the last month. You may also have to give financial statements on the business for a certain number of years. In case of a start-up, you may need a business plan, as well as projections and assumptions on which your projections are based.


Q8. If I have no collateral, can I still qualify for a business loan?

Business loans from Bajaj Finserv do not require collateral. No need for co-signer or guarantor willing to guarantee the loan either. This is irrespective of whether you are a start-up business or are looking for a larger loan.


Q9. I have some problems on my credit report from the past; will that work?

We make sure that you are presently current on all your existing debt. We also check whether any negative remarks on your credit report from the past are at least a few years old.


Q10. How can I speed up my business loan application process?

Nil Part payment charges if the total amount paid in year is less than 25% of the principal outstanding

  • Ensure that your financial records are updated
  • Keep your bank statements handy
  • Make sure you keep a reliable record of incoming accounts receivables

Q11 Are there any Foreclosure and Part prepayment charges?

“Nil Part payment charges if the total amount paid in year is less than 25% of the principal outstanding

Part payment charges will be levied on the amount paid over and above 25% of the principal outstanding for the year. Refer to the Fees & charges section”


Q12. What is LOC calculator?

It calculates the interest amount for the loan amount utilized at the ROI provided by you.


Q13. How does LOC calculator work?

It calculates the interest amount for the loan amount utilized at the ROI provided by you.


Q14. How to use the LOC calculator?

It's very easy and simple to use the LOC EMI calculator. All you need to do is enter few details such as your Loan Amount, your ROI and click on the ‘Calculate’ button. The calculator will use the information provided by you and run them against our data and inform you of the EMI that you will get.

Contact Us

Contact us at our toll free number: 020 3957 4151

  • And Enter your 7-digit BFL Customer ID
  • Select from various IVR options
  • Access IVR in 10 languages: English, Hindi, Bengali, Marathi, Punjabi, Gujarati, Tamil, Telugu, Kannada and Malayalam

Or write to us at: wecare@bajajfinserv.in

Or Visit our office branch. To know the address of your nearest branch Click here

Or access your loan account online at our Experia- customer portal