Working Capital Loan: Features and benefits
Working Capital loans are usually taken to finance the shorten term financial burden of the organization. Some unique benefits of taking a Working Capital Loan from Bajaj Finserv are:
- Loans up to ₹ 30 lakh - Bajaj Finserv offers working capital loans of up to ₹ 30 lakh to help companies continue running their business without any financial roadblocks.
- Unsecured Working Capital Loan - No need for a guarantor or any collateral to avail a Working Capital Loan from Bajaj Finserv. Transparent policies with no hidden clauses.
- Line of Credit - A unique and innovative offering that allows you
to manage your cash flows in a smarter and more effective manner.
Benefits of a Line of Credit:
- Pay interest-only as monthly installment as compared to a term loan.
- Instant online facility to part prepay and withdraw (drawdown) through customer portal (Experia)
- No limit on number of part pre-payments. No charges for part pre-payment
- No charges for withdrawal (drawdown)
- Flexibility to convert to term loan as per convenience
- Bullet repayment option
- No collateral/security required
- Pre-approved offers - On a regular basis, we keep coming up with pre-approved working capital loan schemes which may include a top-up loan or discount in interest rates. We will keep you informed about the same.
Online access -On availing a loan for working capital from Bajaj Finserv, you will get online account access to all your loan related information.
Interest rate and Fees
We have an in-house business loan calculator to help you check your loan interest rate. The other charges are:
- Processing fees - 2% of the loan amount will be deducted at the time of disbursal of approved loan amount
- EMI bounce charges - Rs.1000 will be charged in the subsequent month for every bounce
- Penal interest - 2.00% p.m. overdue charges will be levied basis 360 days per year
- Foreclosure Charges - 4% plus applicable taxes on the current principal outstanding
- Part prepayment charges - 2% plus applicable taxes on part payment amount paid.
The part payment made should be more than 1 EMI. There are no part payment charges for flexi accounts.
Eligibility and documents required
The following entities are eligible for an unsecured working capital loan from Bajaj Finserv:
- Limited or Private Limited Company
- Partnership or Proprietorship Firm
- Chartered Accountant / Self Employed Professional
Here’s a list of the customer profiles that we consider:
- Self Employed Professionals (SEP) - Allopathic doctors, chartered accountants, company secretaries and architects who are practicing their profession. Proof of qualification to be documented.
- Self Employed Non Professionals (SENP) - Traders and manufacturers
- Entities - Partnerships, Limited Liability Partnership, Private Limited and closely held Limited companies.
- Other constitution types depending on their profile on a case to case basis.
- KYC Documents
- Business Vintage of 3 Years
- Business proof: Certificate of practice
- Bank Account statement of last month
How to Apply
If you’re looking for some working capital to finance your business or for business expansion, apply now for a Working Capital Loan online with Bajaj Finserv.
Or simply SMS BL to 9773633633.