Why choose Bajaj Finserv Business Loan this Independence Day
As India celebrates its Independence Day, it is also a time to reflect on the freedom to dream big and achieve greater milestones. For entrepreneurs and business owners, this could mean taking their ventures to the next level. However, scaling up a business often requires financial support. Bajaj Finserv Business Loan is an excellent option to help businesses achieve their goals without financial constraints. Offering quick approvals, flexible repayment options, and competitive interest rates, Bajaj Finserv Business Loan empowers businesses to seize opportunities and grow sustainably.
This Independence Day, take a step towards financial independence for your business with a Bajaj Finserv Business Loan. Read on to learn more about its features, eligibility, interest rates, and how to apply.
Features of Bajaj Finserv Business Loan
Bajaj Finserv Business Loan is designed to cater to the diverse financial needs of businesses. Here are its standout features:
- High loan amount: Businesses can avail of unsecured loans of up to Rs. 80 lakh, ensuring that financial constraints do not hinder growth plans.
- No collateral required: Enjoy the freedom to secure funding without pledging any assets, making it ideal for small and medium enterprises.
- Flexible repayment options: Repayment tenures range from 12 to 96 months, allowing businesses to choose a plan that aligns with their cash flow.
- Quick disbursal: With minimal documentation and a seamless application process, funds are disbursed within 48 hours, ensuring timely financial support.
- Pre-approved offers: Existing customers can benefit from pre-approved loan offers, reducing the time and effort required for approval.
- Transparency: Bajaj Finserv ensures complete transparency with no hidden charges, giving borrowers peace of mind.
If you want to estimate your monthly instalments for a business loan, use the business loan EMI calculator to plan your finances effectively.
Eligibility and documentation required
To ensure a hassle-free application process, Bajaj Finserv has simplified the eligibility criteria and documentation requirements. Here is what you need to know:
Eligibility criteria:
- The applicant must be aged between 24 and 80 years (age at the end of the loan tenure should not exceed 70 years).
- The business must have been operational for at least three years.
- A minimum annual turnover as specified by Bajaj Finserv is required (this varies based on the loan amount and business type).
- The applicant must have a CIBIL score of 685 or higher.
Documentation required:
- KYC documents (Aadhaar card, PAN card, passport, or voter ID).
- Proof of business ownership (GST registration, trade licence, or partnership deed).
- Bank account statements for the last six months.
- Financial documents such as balance sheets and profit and loss statements for the past two years.
For a detailed understanding of the eligibility criteria, visit business loan eligibility.
Interest rate and charges on business loan
Bajaj Finserv offers competitive interest rates and transparent charges to ensure affordability for borrowers. Below is a breakdown of the applicable rates and fees:
| Particulars | Details |
|---|---|
| Interest rate | Starting from 17% per annum |
| Processing fee | Up to 3% of the loan amount |
| Prepayment charges | 4% of the outstanding principal + applicable taxes |
| Penal interest | 2% per month on overdue amounts |
| EMI bounce charges | Rs. 1,500 per bounce + applicable taxes |
| Foreclosure charges | 4% of the outstanding principal + applicable taxes |
For more information on the applicable charges, visit business loan interest rate.
How to apply for business loan during Independence Day
Applying for a Bajaj Finserv Business Loan is a simple and straightforward process. Follow these steps to get started:
- Check your eligibility: Use the online eligibility calculator to ensure you meet the criteria.
- Gather your documents: Keep all the required documentation ready for a smooth application process.
- Fill out the application form: Visit the Bajaj Finserv website and complete the online loan application form.
- Submit your documents: Upload the necessary documents for verification.
- Await approval: Once your application is submitted, it will be reviewed, and you will receive approval within 24-48 hours.
- Disbursement of funds: Upon approval, the loan amount will be credited to your account within 48 hours.
Take the first step towards financial freedom and apply for business loan today.
Conclusion
This Independence Day, give your business the financial independence it deserves with a Bajaj Finserv Business Loan. With features like high loan amounts, flexible repayment options, and competitive interest rates, Bajaj Finserv ensures that your business has the financial backing it needs to thrive. Whether you are looking to expand operations, purchase new equipment, or manage working capital, a Bajaj Finserv Business Loan is your trusted partner in growth.
Do not let financial constraints hold you back.
