Features and benefits
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Flexi perks
Avail of the Flexi facility on the collateral free business loan to reduce EMIs by up to 45%* by paying only interest as EMIs.
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Borrow up to Rs. 80 lakh
Use this ample funding for any business-related needs. Moreover, be sure to use the EMI Calculator to borrow efficiently.
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Easy repayment
Choose a flexible tenure that ranges from 1 year to 8 years for maximum repayment comfort.
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Digital tools
Use our online loan account to access your loan statement and manage your EMIs at any time and from anywhere.
Any asset you own, be it personal or business-related, can be used financially. You can use it as collateral and borrow an amount based on its value. This is usually the approach taken when you require a large sum of money, but with the collateral-free business loan from Bajaj Finance, you get collateral free loan.
What is a Collateral Free Business Loan?
A collateral-free business loan is a financing option where borrowers do not need to pledge assets as security. Lenders approve these loans based on creditworthiness, business performance, and repayment capacity. With Bajaj Finance, you do not need to risk your assets. You can avail of a sizable sanction easily and without any long-winding processing hassles. Our unsecured business loans are easy to apply for using a short and simple online form. All you need to do is meet the simple eligibility criteria and submit minimal documents to enjoy fast approval in just 48 hours*.
Eligibility criteria and documents required
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Age
18 to 80* Years
(*age should be 80 Years at the time of loan maturity).
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Nationality
Indian
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Work status
Self-employed
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Business vintage
3 years
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Credit Score
685 or higher
Documents required:
- KYC documents - Aadhaar/ passport/ voter’s ID
- PAN card
- Proof of business ownership
- Other financial documents
Interest rate and fees applicable
With our loan, you can borrow affordably and without the worry of hidden charges. Refer to this table for a breakup of a few of the fees and charges applicable.
| 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 |
| Penal Charge | Delay in payment of instalment(s) shall attract Penal Charge of Rs. 40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
| Prepayment charges | Full Pre-payment
Part-prepayment –
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| Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount |
| Broken Period Interest/ Pre-EMI Interest | Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows: Scenario 1: If Loan is disbursed on 1st or post 10th of the month: For Term Loan : BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement Scenario 2: If Loan is disbursed between 3rd and 10th of the month: |
| 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 Flexi Hybrid Loan: Up to 1.18% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Initial loan tenure. Up to 0.413% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Subsequent loan tenure. |
| 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. |
| Legal and incidental charges | Recovery of charges |
How to apply
To apply for the business loans without collateral, simply follow these steps:
- 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.
- 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.
Frequently asked questions
Collateral requirements depend on the type of business loan that you are opting for. Some loans, like secured loans, require collateral, while collateral-free loans, such as unsecured loans, do not necessitate assets as security.
With Bajaj Finance, you can get a collateral free business loan of up to Rs. 80 lakh. The final loan amount depends on your creditworthiness, and business financials.
