What is microfinance?
Microfinance is a popular term associated with lending instruments for those who belong to low-income groups. Financial institutions in India offer financing options to those residing mainly in urban and semi-urban regions.
Microfinance is a type of loan, credit, insurance, and money transfers are provided to small business owners and entrepreneurs.
Those who own property can opt for the Bajaj Finserv Loan Against Property for all business and other expenses.
Benefits of Microfinance Loan on property
- With the microfinance loan’s easy eligibility and minimum documentation requirement, the loan process becomes hassle-free and one can get money in their banks in 72 hours* from the time of loan approval
- Avail microfinance loans on property of up to Rs. 10.50 crore*
- Loan tenure is short
Micro finance loan eligibility criteria
- CIBIL score: 700 or more
- Residing Indian citizens
- Between 25 and 70 years of age**
- Able to prove a steady source of income
**Age at the time of loan maturity
Microfinance Interest rate
Micro loans come with nominal interest rates and no hidden charges. Click here to view the list of the fees applicable on this loan.
How can you use microfinance?
As you know what microfinance is now, utilize it to expand your business and boost its capacity by investing in –
- Purchase of equipment that attracts high value
- Buying vehicles necessary for the business’ operation
- Renovating the existing space of the company’s operation
- Buying a new office space
- Investing in hiring more qualified staff
- Meeting training costs
Those who own property can opt for the Bajaj Finserv Loan Against Property for all business and other expenses. This secured loan comes with attractive features like competitive mortgage interest rates, flexible tenor, swift loan processing, and more. Additionally, you can use our Loan Against Property EMI Calculator to plan your loan cost-effectively before you finalize the terms. Eligible applicants can get approved for of Rs. 10.50 crore* and higher to meet all business-related expenses.
To get started, check the eligibility criteria and documents required. Once you’ve met our easy requirements, apply online and get access to funds quickly and conveniently.
