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Secured Business Loan Balance Transfer

3 unique variants | Up to Rs. 1.05 Cr | Tenure up to 180 months
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Trusted by 3 lakh+ customers

Secured Business Loan Balance Transfer
3 unique variants | Up to Rs. 1.05 Cr | Tenure up to 180 months

Key features

Watch Video ‌
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3 unique variants

Choose from our Flexi Hybrid, Flexi Term, and Term Loan variants.

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Loan of up to Rs. 1.05 crore

Manage your small and large expenses with loans of up to Rs. 1.05 crore

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Minimal Documentation

You need to submit just a few basic documents to apply for our secured business loan.

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Convenient tenures of up to 15 years

We offer extended repayment tenures of up to 180 months so that you can pay your loans comfortably.

Key features

Watch Video ‌
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3 unique variants

Choose from our Flexi Hybrid, Flexi Term, and Term Loan variants.

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Loan of up to Rs. 1.05 crore

Manage your small and large expenses with loans of up to Rs. 1.05 crore

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Minimal Documentation

You need to submit just a few basic documents to apply for our secured business loan.

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Convenient tenures of up to 15 years

We offer extended repayment tenures of up to 180 months so that you can pay your loans comfortably.

Secured Business Loan Balance Transfer EMI Calculator

Secured Business Loan EMI Calculator

Features and benefits of our secured business loan balance transfer

Features and benefits of Secured Business Loan Balance Transfer
 

Features and benefits of Secured Business Loan Balance Transfer

  • 3 unique variants

    We have 3 new unique variants – Term loan, Flexi Term Loan, Flexi Hybrid Loan. Choose the one that works for you best.

  • No part-prepayment fee on Flexi variants

    With Flexi variants, you can borrow multiple times and make part prepayments without any extra charges.

  • Loan of up to Rs. 1.05 crore

    Get loans from Rs. 1 lakh to Rs. 1.05 crore through an end-to-end online application process to manage your small/ large expenses.

  • Convenient tenures of up to 15 years

    We offer extended repayment tenures of up to 180 months so that you can pay your loans comfortably.

  • Minimal documentation

    You need to submit just a few basic documents to apply for our secured business loan.

  • Quick processing

    In most cases, you will receive funds in your account within 48 hours* of approval and document verification.

  • No hidden charges

    All fees and charges are clearly stated on this page and in the loan document. We recommend reviewing them carefully.

  • End-to-end online application process

    You can apply for our secured business loan from the comfort of wherever you are, at a time convenient for you.

*Terms and conditions apply

Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

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Eligibility and documents for secured business loan balance transfer

Eligibility Criteria for Secured Business Loan BT
 

Eligibility Criteria for Secured Business Loan BT

  • Eligibility criteria

    • Nationality: Indian
    • Business vintage: At least 3 years
    • CIBIL Score: 720 or higher
    • Work status: Self-employed/ salaried
    • Age: 18 years to 85*
    • Age for non-financial property owners: 22 years to 85*
       

    A higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure.

    • Work experience for salaried employees: At least 1 Year
    • Minimum salary: Rs. 24,000 per month
       

    *Upper limit is the age at the end of your loan tenure.
     

  • Documents required

    KYC documents:

    • Passport
    • Driving License
    • Voter’s Identity Card
    • Aadhaar Card
    • Job Card issued by NREGA duly signed by an officer of the State Government
    • Letter issued by the National Population Register
       

    If your current address is not the same as the OVD document provided, please share any of the listed DOVD documents. Click here to view the documents.

    • PAN card
    • Employer identity card or documents of business ownership such as partnership agreement, and registration certificate
    • Bank account statements for the last %$$BLSE-BT-Bank-Statement$$%, income tax returns, or financial documents such as balance sheet or profit and loss statement
    • Documents of the property to be mortgaged, such as title documents
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How to apply for our secured business loan balance transfer

How to apply for Secured Business Loan Balance Transfer
 

How to apply for Secured Business Loan Balance Transfer

Step-by-step guide to applying for a secured business loan balance transfer

  1. Click on “CHECK ELIGIBILITY” button on this page.
  2. Enter your 10 digit mobile number and OTP.
  3.  Fill in the application form with your Personal Details, Business/Employment/Professional details, Property details and proceed.
  4. Enter your loan amount that you need, choose from our three loan variants- Flexi term loan, Flexi hybrid loan, and Term loan.
  5. Choose the repayment tenure - You can select tenure option of 12 month to 180 month and click on proceed.

 

Applicable fees and charges on our secured business loan balance transfer

Type of fee

Applicable charges

Rate of interest

10% to 26% per annum

Processing fee

Up to 3.54% of the loan amount (inclusive of applicable taxes).

Document charges

Up to Rs. 2,360 (inclusive of applicable taxes).

Flexi fee

Flexi term loan (Flexi dropline)

Up to Rs. 999 for loan amount less than Rs. 50,00,000.

Up to Rs. 1,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999.

Up to Rs. 1,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999

Up to Rs. 2,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999

Up to Rs. 3,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999

Up to Rs. 4,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999

Up to Rs. 5,999 for loan amount Rs. 7,50,00,000 and above

Flexi Hybrid loan –

Up to Rs. 5,999 for loan amount less than Rs. 50,00,000.

Up to Rs. 11,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999.

Up to Rs. 14,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999

Up to Rs. 19,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999

Up to Rs. 21,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999

Up to Rs. 25,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999

Up to Rs. 29,999 for loan amount Rs. 7,50,00,000 and above

Prepayment charges

Full prepayment (foreclosure)

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment

  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment

  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment

Part prepayment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment.

  • Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Loan.

Annual maintenance charges

Term Loan – not applicable.

Flexi Term Loan - not applicable.

Flexi Hybrid Loan – Up to 0.295% (inclusive of applicable taxes) on the total withdrawable amount during the initial loan tenure. Not applicable for the subsequent loan tenure.

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.

Penal charge

Penal charge is applicable in the following scenarios:

a. Penal Charge: Any payment default shall attract penal charge of Rs. 36 per day for period of such delay from the respective due date and continue to apply until the date of receipt of amounts under the said default.

b. Covenant Perfection Charge: i) Rs. 800/- per day for non-submission of critical documents after 90 days of disbursement. Levy from the date when due on non-compliance of any one or all heads in the category. ii) Rs. 500/- per day for non-submission of non-critical documents after 120 days of disbursement. Levy from the date when due.

Stamp duty

Payable as per state laws

Broken period interest/ Pre- Instalment interest

Broken period interest/pre-instalment interest shall mean the amount of interest on the loan for the number of day(s), which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:

  • For Term Loan: Deducted from the loan disbursement

  • For Flexi Term Loan: Added to the first instalment

  • For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

Mortgage origination fees

Up to Rs. 6000 per property (inclusive of applicable taxes), charged upfront.

Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount.

CERSAI charges

Up to 118/- (inclusive of applicable taxes)

Legal charges

Recovery of charges

Repossession and incidental charges

Recovery of charges

Our loan variants

Learn more about loan variants
 

Learn more about loan variants

  • Flexi Hybrid Loan
  • Flexi Term Loan
  • Term Loan

What is it

Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged during the Initial Tenure, only on the amount utilised.

Flexibility

Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant.

Withdrawals

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Instalments

Interest-only Instalments for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

Part-prepayment Charges

No part-prepayment charges.

Flexi Charges

*Nominal Flexi charges applicable.

What is it

Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration.

Flexibility

Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan.

Withdrawals

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Instalments

Fixed Instalments only on the withdrawn amount.

Part-prepayment Charges

No part-prepayment charges.

Flexi Charges

*Nominal Flexi charges applicable.

What is it

The loan type offers two repayment options: fixed monthly payments for the full term or up to 36 months of interest-only payments, followed by interest and principal payments.

Flexibility

Fixed loan structure and repayment schedule. Less flexible than our Flexi Term (Dropline) Loan or Flexi Hybrid Loans.

Withdrawals

Single disbursement of the loan amount.

Instalments

Fixed Instalments on the disbursed amount.

Part-prepayment Charges

Nominal* part-prepayment charges applicable.

Flexi Charges

No Flexi charges

Frequently asked questions

Overview

Features

Interest rate

Do I need to qualify for a secured business loan balance transfer?

Yes, you must meet the lender’s eligibility criteria to transfer your secured business loan. Lenders typically assess factors such as your repayment history, outstanding loan amount, business stability, and creditworthiness. A strong financial profile increases your chances of approval. If your business has a steady cash flow and a good track record of repayments, you are more likely to qualify. The lender may also evaluate the current value and acceptability of your collateral before approving the balance transfer.

What documents do I need to provide for a secured business loan balance transfer?

For a secured business loan balance transfer with Bajaj Finance, the following documents are required:

  • KYC Documents: Aadhaar card, passport, voter’s ID, driving license, letter from the National Population Register (NPR), or NREGA job card.

  • PAN Card: Permanent Account Number card.

  • Proof of Business Ownership: Documents verifying the existence and ownership of your business.

  • Financial Documents: Relevant financial statements that demonstrate the financial health of your business.


Having these OVD documents ready can facilitate a smoother and quicker balance transfer process.

How do I compare lenders when considering a secured business loan balance transfer?

When comparing lenders for a secured business loan balance transfer, consider factors such as interest rates, processing fees, repayment terms, and customer service. Check if the lender offers flexible repayment options and additional benefits like top-up loans. Reviewing online customer feedback and checking for hidden charges can also help. A competitive interest rate is crucial for evaluating the overall cost. Checking foreclosure and processing charges, is equally important to maximise savings.

Can a secured business loan balance transfer help my business save money in the long run?

Yes, transferring your secured business loan to a lender with lower interest rates and better repayment terms can reduce your financial burden. Lower Instalments free up capital that can be reinvested into business operations. Additionally, if the new lender offers flexible repayment options, it can help improve cash flow management. Bajaj Finance offers loans, giving businesses access to extra funds at a competitive rate. Evaluating long-term benefits ensures maximum savings.

Can I transfer my secured business loan balance even if I have a poor credit score?

It may be challenging to transfer your secured business loan balance if you have a poor credit score. Lenders assess your repayment history and financial stability before approving a balance transfer. However, if your business has strong financials and valuable collateral, lenders may consider your application despite a lower credit score. In such cases, the interest rate may be slightly higher. Improving your credit score before applying increases your chances of approval.

Can a secured business loan balance transfer help me access a larger loan amount?

Yes, you can avail a loan of up to Rs. 1.05 crore with Bajaj Finserv Secured Business Loan Balance Transfer, allowing you to access additional funds. If your collateral has appreciated in value or you have repaid a significant portion of your existing loan, you may qualify for a higher loan amount. This can help businesses expand operations, purchase equipment, or manage working capital efficiently. Checking the lender’s eligibility criteria ensures maximum benefits.

What types of collateral can be used for a secured business loan balance transfer?

Collateral for a secured business loan balance transfer includes immovable assets like commercial and residential properties, land, or industrial premises. Movable assets such as machinery, equipment, and inventory may also be considered. The type and value of collateral determine the loan amount and interest rate. Ensuring the collateral meets the lender’s criteria is essential for smooth approval.

What happens if my business doesn’t qualify for a secured business loan balance transfer?

If your business does not qualify for a secured business loan balance transfer, you can explore alternatives such as renegotiating loan terms with your current lender. Improving your credit score, maintaining strong financials, and reducing existing liabilities can enhance your eligibility. If a balance transfer is not feasible, consider other financing options like a business line of credit or working capital loans from Bajaj Finance to manage expenses effectively.

What is the interest rate for a secured business loan balance transfer?

The interest rate for a secured business loan balance transfer ranges from 10% to 26%, based on factors such as the loan amount, collateral type, and the borrower’s financial profile. Bajaj Finance offers competitive rates to borrowers with a strong repayment history and CIBIL Score. Transferring to a lender offering lower interest rates can reduce overall loan costs.

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Watch our videos

What is Secured Business Loan Balance Transfer?
 
 

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.