Features and benefits

  • Flexi Loan benefits

    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.

  • No collateral needed

    No collateral needed

    Since this loan is unsecured, you do not have to pledge assets to avail of financing.

  • Online loan management

    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. 75 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.

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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.

  • Age

    Age

    24 years to 80 years*
    (*age should be 80 years at the time of loan maturity).

  • CIBIL Score

    CIBIL Score

    685 or higher

  • Work status

    Work status

    Self-employed

  • Nationality

    Nationality

    Resident Indian

  • Business vintage

    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% - 30% per annum
Processing fees Up to 3.54% of the loan amount (inclusive of applicable taxes)
Bounce charge In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.
Document processing charges Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee

Term Loan - Not applicable

Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Variant (as applicable below) - A fee will be deducted upfront from the loan amount

  • Up to Rs. 5,999/- (inclusive of applicable taxes) for loan amount less than Rs. 10,00,000/-
  • Up to Rs. 7,999/- (inclusive of applicable taxes) for loan amount from Rs. 10,00,000/- to Rs. 14,99,999/-
  • Up to Rs. 12,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-
  • Up to Rs. 15,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above

*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Penal interest Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
Pre-payment charges

Full Pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
Stamp duty (as per respective state)
Payable as per state laws and deducted upfront from the loan amount.
Mandate rejection charges Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
Broken Period Interest/ Pre-EMI 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:

  • For Term Loan: Deducted from the loan disbursement
  • For Flexi Term Loan: Added to the first instalment
  • For Flexi Hybrid Loan: Added to the first instalment

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) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.

Switch Fees* Up to 1.18% of the loan amount (inclusive of applicable taxes)


*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. 1 Click on the ‘APPLY' button on this page.
  2. 2 Enter your 10-digit mobile number and OTP.
  3. 3 Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. 4 Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
  5. 5 Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid.
  6. 6 Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
  7. 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

Can I get a loan for a hotel business?

Yes, you can get a loan for hotel business from Bajaj Finance. We provide financing for hotels and restaurants up to Rs. 75 lakh without any collateral. You can use the loan amount to meet any business-related expenses, such as buying equipment, hiring staff, renovating, etc.

How much loan can I get for a hotel business?

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. 75 lakh for various service enterprises, including hotels. You can check your eligibility online by filling a simple form on their website.

What is the interest rate of a business loan for a hotel?

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.

How do I start a small hotel business?

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.

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