PAYROLL
In a competitive job market, employees with right skill sets and experience demand high salaries. Keep your best employees on board with generous pay packets and add seasonal incentives with the help of a business loan.
OPERATIONS COST
Keep your inventory stocked with the latest goods, and maintain a robust service and delivery channel. From time-to-time, assess the quality of your equipment and make the required upgrades so you stay competitive.
CASHFLOW GAPS
Keeping the books balanced when customers’ payments are delayed, or you have just paid a large bill by your suppliers, is tricky. Stay comfortably afloat with the Flexi facility offered by Bajaj Finserv Business Loans.
3 unique variants of our business loan
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Flexi Term Loan
Assume that you have taken a loan of Rs. 20 lakh with a repayment period of 24 months. You have paid the EMIs on time for the first six months. So, by now, you must have paid back roughly Rs. 5 lakh.
It occurs to you, that you need another Rs. 5 lakh. To drawdown additional funds from your Flexi Term Loan account, sign-in to our customer portal – My Account.
Now, let us say you have decided after three months to pay off a portion of your loan, for example, Rs. 10 lakh. You can easily repay by signing in to My Account.
Your interest will be automatically adjusted throughout, and you only need to pay interest on the outstanding principal. Your EMI includes both the principal and the adjusted interest.
A modern-day business demands dynamism and may need quick investments. A Flexi Term Loan is perfect for such uses.
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Flexi Hybrid Loan
This is another variant of our business loan that works exactly like the Flexi Term Loan. The only difference is that, for the initial period of the loan, your EMI will only consist of the applicable interest. For the subsequent period, the EMI will consist of the interest and principal components.
Click here for a detailed description of how our Flexi Hybrid Loan works.
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Term Loan
This is like regular business loan. You borrow a certain amount of money, which is divided into equated monthly instalments that consist of both principal and the applicable interest.
There is a fee applicable for part-payment as well as foreclosure of your Term Loan before completion of your loan tenure.
Features and benefits of our business loan
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Features and benefits of our Business Loan
Watch this video to know everything about the features of our business loan.
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3 unique variants
Choose the loan type that suits you the best – Term Loan, Flexi Term Loan, Flexi Hybrid Loan.
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No part-prepayment charge on Flexi variants
You can prepay a portion of your loan at no extra charges with our Flexi Term Loan and Flexi Hybrid Loan.
Read about our Flexi Hybrid Loan
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Loan of up to Rs. 80 lakh
Manage your small or large business expenses with loans ranging from Rs. 2 Lakh to Rs. 80 lakh.
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Convenient tenures of up to 8 years
Get the added flexibility to pay back your loan with repayment options ranging from 12 months to 96 months.
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Money in your bank account in 48 hours*
In most cases, you will receive the loan amount in your account within 48 hours of approval.
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No hidden charges
All fees and charges are mentioned upfront on this page and in the loan document. We advise you to read these in detail.
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No collateral required
You do not have to worry about providing any collateral or security to get our business loan.
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Online application process
You can apply for our business loan from the comfort of wherever you are, at a time convenient for you.
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*Terms and conditions apply
Eligibility criteria and documents required
Anyone can apply for our business loan if they meet the five basic criteria mentioned below. If you meet all the business loan eligibility criteria, you will need a set of documents to complete your application process.
Eligibility criteria
- Nationality: Indian
- Business vintage: At least 3 years
- CIBIL Score: 685 or higher
- Work status: Self-employed
- Age: 24 years to 80 years*
*24 years (18 years age of non-financial applicant / Co-applicant / Guarantor)
*Higher age limit is applicable at the time of loan maturity.
Documents
- KYC documents - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- PAN card
- Proof of business ownership
- Other financial documents
How to apply for a business loan
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Applicable fees and charges
| Type of fee | Applicable charges |
| Rate of interest | 9.75% to 30% per annum |
| Processing fees | Up to 3.54% of the loan amount (inclusive of applicable taxes) |
| Bounce charges | In case of default of repayment instrument, Rs. 1,500 per bounce will be levied. |
| Document processing charges | Rs. 2,360 (inclusive of applicable taxes) |
| Flexi Fee | Term Loan - Not applicable Flexi Term Loan (Flexi Dropline) - Rs. 999/- (inclusive of applicable taxes) Flexi Hybrid Loan (as applicable below) - • Up to Rs. 6,499/- (inclusive of applicable taxes) for loan amount less than Rs. 1000000/-. • Up to Rs. 8,999/- (inclusive of applicable taxes) for loan amount from Rs. 1000000/- to Rs. 1499999/-. • Up to Rs. 13,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/- • Up to Rs. 16,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above. *The Flexi charges above will be deducted upfront from the loan amount *Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
| 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. |
| Part-prepayment charges* | Full Pre-payment Term Loan: 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment Flexi Term Loan (Flexi Dropline): 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: 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment. Part Pre-payment 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part Pre-Payment. Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi. |
| Stamp duty | Payable as per state laws and deducted upfront from the loan amount. |
| Instalment default charges | Rs. 450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered. |
| Cash collection handling charges | Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs. |
| Cash deposit charges | Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices. |
| PG facility charges | Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties. |
| Broken period 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 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. |
| Annual maintenance charges | Term Loan – not applicable. Flexi Term Loan (Flexi Dropline): Up to 0.413% (inclusive of applicable taxes) Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial loan tenure. 0.413% (inclusive of applicable taxes) of total withdrawable amount during subsequent loan tenure. |
| Switch Fees* | Up to 1.18% of the loan amount (inclusive of applicable taxes) |
Frequently asked questions
A business loan is a financial offering that can help you meet your planned and unplanned business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.
You can get a business loan of up to Rs. 80 lakh from Bajaj Finserv by fulfilling the easy-to-meet eligibility criteria. Once your application is approved, you can get the loan amount in your bank account within 48 hours*.
*Terms and conditions apply
Business entities such as proprietary concerns, partnership firms, private limited companies, self-employed professionals, and self-employed non-professionals can apply for a Bajaj Finserv Business Loan. All applicants are required to fulfil the eligibility criteria and submit their relevant documents.
Bajaj Finserv considers a CIBIL score of 685 or above as a good credit score. A strong business turnover and having all your documents in check also reflect positively on your profile.
You can use a business loan to manage your venture’s planned and unplanned expenses. From leasing a larger office premise to renovating your workspace, you can use it for various purposes. You can even purchase, lease, or repair machinery or upgrade old technology to bring in a more efficient and smoother way of working. Stocking up inventory, purchasing raw materials in bulk, or expanding your operations are some other end-uses of a business loan.
Applying for a business loan from Bajaj Finserv is easy. Start by clicking on the ‘Apply’ button on this page and open the online application form. Enter your basic details and verify your profile with the OTP that is sent to your phone.
Share the basic details of your business and gather your business documents. A representative from Bajaj Finserv will contact you with the next steps. Once your loan application is approved, you can get money in your account within 48 hours*.
*Terms and conditions apply
To get a business loan from Bajaj Finserv, you must own a business that has been operational for a minimum of 3 years. You are also required to have filed your income tax returns for at least one year.
