Business loan against property interest rates and charges
|Types of fee
|Rate of interest
|9% - 25% per annum
|Up to 3.54% of the loan amount (inclusive of applicable taxes)
|Up to Rs. 2,360 (inclusive of applicable taxes)
Full prepayment (foreclosure)
Note: If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges.
|Annual maintenance charges
Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Not applicable
Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial loan tenure. Not applicable during the subsequent loan tenure
|In case of default of repayment instrument, Rs. 1,500 per bounce will be levied
|Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
|Payable as per state laws
|Mandate rejection charges
|Rs. 450 per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
|Broken period interest/ pre-EMI interest
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
|Mortgage origination fees
|Up to Rs. 6,000 per property (inclusive of applicable taxes)
|Property insight (if availed)
|Rs. 6,999 (inclusive of applicable taxes)
|Up to Rs. 1 (inclusive of applicable taxes)
The Bajaj Finserv Business Loan Against Property comes with attractive interest rates of 9% – 25% per annum, for a sanction going up to Rs. 1.05 crore. This, along with a transparent list of charges, helps you plan your repayment efficiently even before you avail of the loan.
Planning your repayment in advance helps you avoid missed payments, which can incur charges. A penal interest is levied at 42% per annum in case of any such delay.
You can part-pay your loan at an affordable charge of 4.72% of the prepaid amount, plus taxes. This charge is not applicable if you are an individual borrower with a variant of Flexi loan . If you wish to foreclose your loan at any point, you can do so at a charge of 4.72% of the outstanding amount, plus taxes.
You can easily access your loan-related documents via the customer portal – My Account, where you can download your monthly account statement, important certificates and more. If you need physical copies of these documents, you can obtain them from the nearest Bajaj Finserv branch office for a nominal fee of Rs. 50 per document.
Frequently asked questions
The processing fee for a Bajaj Finserv Business Loan Against Property can go up to 3.54% of the approved loan sanction.
You will need to pay a nominal charge of 4.72% plus taxes on the amount you wish to part-pay.
You can avail of a secured business loan at an attractive interest rate of 9% to 25% p.a.
The business loan against property repayment tenor ranges up to 15 years.