Business Loan for Petrol Pump

With the demand for fuel at an all-time high, the petrol pump business has become a lucrative opportunity in India.

However, setting up a petrol pump business is expensive, requiring a large amount of initial investment. A business loan for a new petrol pump from Bajaj Finserv can pay for most of the expenses.

Petrol Pump Loan features & benefits

  • No need for securities

    No need for securities

    Get a collateral free business loan from Bajaj Finserv without pledging any collateral. It also hastens the loan processing.

  • High loan amount

    High loan amount

    Depending on eligibility, Bajaj Finserv provides loans for new petrol pumps of up to Rs. 50 lakh* (*Inclusive of Insurance Premium, VAS Charges, Documentation Charges, Flexi fees and Processing Fees).

  • Pre-approved offers

    Pre-approved offers

    Check your pre-approved offer for a business loan from Bajaj Finserv by simply entering your contact information.

  • Flexi loan facility

    Flexi loan facility

    Withdraw funds depending on requirements and pay interest only on the withdrawn amount from a pre-sanctioned credit limit.

  • Affordable loans

    Affordable loans

    With low-interest rates and a significant capital value, these are perfect loans to open petrol pumps.

  • Access your loan accounts anywhere

    Access your loan accounts anywhere

    Get the convenience of online access to loan accounts and loan statements anytime, anywhere.

  • Hassle-free approval

    Hassle-free approval

    Not only do these loans come with easy-to-meet eligibility criteria, but they are also approved in only 48 hours.

Business loan for a petrol pump

Become a new petrol pump owner by getting an unsecured business loan from Bajaj Finserv. This helps raise funds for various expenditures without the need for any collateral.

Get access to instant business loans to address any urgent working capital needs. Bajaj Finserv offers loans of up to Rs. 50 lakh* (*Inclusive of Insurance Premium, VAS Charges, Documentation Charges, Flexi fees and Processing Fees) at affordable interest rates for new and existing petrol-pump owners.

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Petrol Pump Business loan eligibility

Bajaj Finserv offers simple eligibility criteria for business loans for opening petrol pumps. These are:

  • Age

    Age

    24 years to 70 years*
    (*Age should be 70 years at Loan Maturity)

  • Nationality

    Nationality

    Resident Indian

  • CIBIL score

    CIBIL score

    Minimum - 685

  • Business vintage

    Business vintage

    Self-employed at a business running for three years or more

The lending criteria for Bajaj Finserv Business Loans are simple, making the whole process easier for borrowers. It also provides an eligibility calculator so that borrowers can find out what amount they are eligible for.

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Documents Required

Make sure you have the following documents before applying for an MSME loan for a petrol pump.

  • ID Proof: Passport, driving license, Aadhaar card, PAN card, voter ID card
  • Address Proof: Lease agreement, electricity bill, certificate of trade license, telephone bill
  • Financial documents: Balance sheet and profit and loss statements for the last two years (audited by a CA), bank account statements for the previous six months
  • Proof of ownership of business: Partnership agreement, MOA for Private Limited Companies, GST returns, registration certificate, IT returns, individual proof of identity of owners, payment receipt for municipal tax, electricity bill

Interest rates

Bajaj Finserv is 100% transparent about all interests, fees, and charges applicable to the business loan for opening a petrol pump. The rate of interest starts is nominal, while the processing fees and other costs are nominal.

Bajaj Finserv offers you a pick between fixed and floating interest rates for business loans. Choose a longer repayment period to reduce the financial burden. Get the best interest rates depending on factors such as CIBIL score, business vintage, and monthly turnover ratio.

It is also advisable to register your petrol pump under MSME to get various benefits, including better interest rates.