Benefits of an Engineer Loan from Bajaj Finserv

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Benefits of an Engineer Loan from Bajaj Finserv

Benefits of an Engineer loan

  • Highlights

  • Funds up to Rs.15 lakh repayable in 60 months

  • Collateral-free loans

  • Approval in 24 hours for urgent needs

  • Flexi loan facility to meet unforeseen needs

Engineer Loans from Bajaj Finserv is a useful financing option as it gives quick funds, with minimal documentation and maximum flexibility.Whether it is to fund a planned need like business expansion, or to meet an urgent one such as bidding for a contract, a loan for engineers from Bajaj Finserv can provide finances conveniently and quickly.

What is an engineer loan?

As the name suggests, it is a business loan for engineers. You can use it to buy machinery/equipment, market your business or fund business-related travel. As long as you’re a self-employed or consultant engineer, you are qualified for this source of finance.

Benefits of Bajaj Finserv’s Loan for Engineers:

1. Access ample loan amount

To ensure that finance doesn’t come in the way of achieving your business goals, this loan comes with a high loan amount of Rs.15 lakh.

There is no restriction on how you can use the funds.

2. No need to pledge collateral

This offering from Bajaj Finserv is specially beneficial to engineers who run small or medium enterprises. To ensure that your business and personal assets are risk-free, this loan doesn’t require you to pledge collateral or nominate a guarantor.
Additional Reads: How To Find The Best Interest Rate For An Engineer Loan?

3. Benefit from unique Flexi Term Loan feature

Applying for this loan from Bajaj Finserv gives you access to a Flexi Term Loan account. So, you can withdraw, repay and re-avail sums of money as many times as you want, against the credit line. You only have to pay interest on the sum that you use.So, this facility is ideal for times when you cannot predict your exact expenses or need finances at unpredictable intervals. You also have the option to pay only interest as EMIs and repay the principal at the end of the tenor. This makes utilising the loan easy and hassle-free, making cash flow management simpler for you.

Benefits of engineer loans

4. Choose a tenor based on your repayment ability

The Bajaj Finserv Loan for Engineers gives you the option of picking from a repayment tenor of up to 60 months. So, you can choose a long or short tenor depending on your income and repayment capacity.

5. Quick approval and disbursal

If you want to meet an urgent need, the Bajaj Finserv Loan for Engineers is your best bet as once you apply, your loan gets approved within 24 hours. So, you need look no further to accomplish time-bound tasks that require immediate financing

Top Business Opportunities for Mechanical Engineers

Eligibility for engineer loans

6. Online loan application and management

To add to the ease of access, Bajaj Finserv allows you to apply for this loan online by filling out a simple form. Once the loan is approved and sanctioned, you can log on to Bajaj Finserv’s customer portal using your user ID and password, and view all your loan details whenever you wish to. You can take a look at your payment schedules and loan value with just a few clicks. Thus, this loan can be managed on the go via your smartphone or laptop.

7. Easy eligibility and minimal documentation

To make the process simpler, Bajaj Finserv has basic eligibility criteria for this loan. Besides this, you only have to submit a few documents such as the application form itself, KYC documents, proof of business vintage and certificate of practice to qualify for the loan.

8. Pre-approved offers

If you’re already an existing customer of Bajaj Finserv, you can get this loan even more easily. Since Bajaj Finserv already has all your details and has established your credibility, the loan will be offered to you on a pre-approved basis. This means that you don’t have to go through the entire application process from scratch.

Apply for an Engineer Loan
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