A business loan is a viable way of raising finance for purchasing new assets, buying new premises or expanding operations. A Bajaj Finserv Business Loan gives you funds of up to Rs. 50 lakh with benefits like a nominal interest rate, Flexi loan facility, and flexible prepayment terms.
Before you plan how to use the funds, make yourself aware of the application process. Bajaj Finserv has an easy application procedure that helps you raise funds on time. Here is how you can get the loan.
1. Eligibility criteria and documents required for a Bajaj Finserv Business Loan
You must meet the following criteria to be eligible for the loan:
- You should be aged 24 years to 70 years (*Age should be 70 years at loan maturity) as per product program.
- Your business should be at least three years old
- Your business should have filed income tax returns for at least the past year
- The previous year’s turnover should have been audited by a chartered accountant
2. Select the mode of application
You can apply for the loan online or offline. The offline procedure requires you to message ‘BL’ to 9773633633. A Bajaj Finserv representative will contact you soon after with a pre-approved offer. The online procedure involves filling and submitting the application form with your documents online, after which the company representative will get in touch with you. Applying online is more convenient if you don’t have the time to visit a branch.
3. Enter your details and submit the documents
When you’re applying online, go through the application form thoroughly. Fill in details like your name, date of birth, loan tenor and principal with care. Once you complete this step, submit the application online along with photocopies of the relevant documents.
4. Receive your loan after verification
Once you have submitted your application, a representative will verify your application and documents. Once the verification is complete, your loan will be approved, and you will receive the loan amount directly in your bank account in 24 hours. You don’t have to worry about waiting in long queues, cashing a cheque or travelling to the branch multiple times to get the money.
Following these steps can help you get a Bajaj Finserv Business Loan in no time. This loan offers an affordable solution by helping you instantly raise finance for pressing needs such as working capital expenses or expansion.
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