Features and benefits
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Flexi Loan benefits
Bajaj Finance extends the Flexi Loan facility, which you can use to borrow freely and pay interest only on what you withdraw.
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No collateral needed
Since this loan is unsecured, you do not have to pledge assets to avail of financing.
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Online loan management
For 24x7 access to information about your loan, be sure to use our online customer portal.
As a business owner, setting up a new hotel or restaurant chain or maintaining your existing one usually requires ample funds. You can manage this need efficiently and faster with a loan for hotels and restaurants by Bajaj Finance.
With easily accessible financing, you can stock up raw materials, pay for property licences and permits, buy equipment, hire personnel, renovate, set up marketing and more. You can use the loan amount of up to Rs. 80 lakh to meet any business-related expenses. The loan also comes with a flexible tenure of up to 96 months and an attractive interest rate.
Eligibility criteria and documents required
Due to the simple loan eligibility criteria, you do not have to worry about qualifying for the loan. To make matters simpler, you only need to submit minimal documentation when applying.
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Age
24 to 80*
(*age should be 80 at the time of loan maturity).
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CIBIL Score
685 or higher
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Work status
Self-employed
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Nationality
Resident Indian
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Business vintage
At least 3 years
You will need the following documents to apply:
- KYC documents - Aadhaar/ passport/ voter’s ID
- PAN card
- Proof of business ownership
- Other financial documents
Interest rate and fees applicable
When you opt for our loan for hotels and restaurants, you enjoy the benefit of low-interest rates and nominal fees and charges. This helps keep the loan affordable all through the tenure.
Type of fee |
Applicable charges |
Rate of interest |
9.75% to 30% per annum |
Processing fees |
Up to 3.54% of the loan amount (inclusive of applicable taxes) |
Bounce charges |
Rs. 1,500 per bounce. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason. |
Documentation charges |
Rs. 2,360 (inclusive of applicable taxes) |
Flexi Fee |
Term Loan - Not applicable Flexi Term Loan (Flexi Dropline) - Rs. 999/- (inclusive of applicable taxes) Flexi Hybrid Loan (as applicable below) -
*The Flexi charges above will be deducted upfront from the loan amount |
Penal charge |
Delay in payment of instalment(s) shall attract Penal Charge of Rs. 40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Part-prepayment charges* |
Full Pre-payment
Part Pre-payment
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Stamp duty |
Payable as per state laws and deducted upfront from loan amount |
Cash collection handling charges |
Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs. |
Cash deposit charges |
Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices. |
Platform fees |
Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties. |
Broken period 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:
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 0.413% (inclusive of applicable taxes) Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial loan tenure. 0.413% (inclusive of applicable taxes) of total withdrawable amount during subsequent loan tenure. |
Switch Fees* |
Up to 1.18% of the loan amount (inclusive of applicable taxes) |
| Legal and incidental charges | Recovery of charges |
*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
The steps to apply for this loan are simple, easy to execute, and take just a few minutes. They are as follows:
- 1 Click on the ‘APPLY' button on this page.
- 2 Enter your 10-digit mobile number and OTP.
- 3 Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
- 4 Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
- 5 Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid.
- 6 Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- 7 Complete your KYC and submit your business loan application.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.
Frequently asked questions
Yes, you can get a loan for hotel business from Bajaj Finance. We provide financing for hotels and restaurants up to Rs. 80 lakh without any collateral. You can use the loan amount to meet any business-related expenses, such as buying equipment, hiring staff, renovating, etc.
The loan amount that you can get for a hotel business depends on your eligibility criteria and submitted documents. Bajaj Finance offers loans ranging from Rs. 2 Lakh to Rs. 80 lakh for various service enterprises, including hotels. You can check your eligibility online by filling a simple form on their website.
The interest rate of business loan for hotel varies depending on your credit score, business vintage, loan amount, and repayment tenure. The rate of interest starts from 9.75% p.a. and can go up to 30% per annum. There are also other fees and charges applicable, such as processing fees, bounce charges, document processing charges, etc. You can find the details of these charges on their website.
Starting a small hotel business requires planning, financing, and execution. You need to identify a market need and set your strategic goals. It is also important to review your financing options. Next, you need to do your paperwork and get the required permits. After that, you need to find hotel premises, build, and furnish them. Next you need to hire and train your staff. Finally, you need to draft a marketing plan and launch your hotel.
