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 years*
(*age should be 80 years 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 |
14% to 25% per annum |
Processing fees |
Up to 4.72% 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. |
Flexi Facility Charge |
Term Loan - Not applicable Flexi Term Loan (Flexi Dropline) - Rs. 999/- (inclusive of applicable taxes) Flexi Hybrid Term 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 at the rate of 36% per annum 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 |
Annual maintenance charges |
Term Loan – not applicable. Flexi Term Loan (Flexi Dropline): Up to 0.413% (inclusive of applicable taxes)of the Dropline Limit (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Term Loan: Up to 1.18% (inclusive of applicable taxes) of the Dropline Limit during Initial loan tenor. 0.413% (inclusive of applicable taxes) of Dropline Limit during Subsequent loan tenor. |
| Legal and incidental charges | Recovery of charges |
| Principal Holiday Facility Fees | Principal Holiday (as applicable below) - (Inclusive of applicable taxes) Up to Rs. 6499 (Inclusive of applicable taxes) for loan amount less than Rs. 10,00,000. Up to Rs. 8,999 (Inclusive of applicable taxes) for loan amount between Rs. 10,00,000 and 14,99,999. Up to Rs. 13,999 (Inclusive of applicable taxes) for loan amount between Rs. 15,00,000 and Rs. 24,99,999. Up to Rs. 16,999 (Inclusive of applicable taxes) for loan amount Rs. 25,00,000 and above. Note- The above principal holiday facility fees will be deducted upfront from loan amount. Loan amount includes approved loan amount, Insurance Premium and VAS Charges. |
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 Term.
- 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 200000 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 14% p.a. and can go up to 25% 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.
