Features and benefits
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Flexi perks
Avail of the Flexi facility on the collateral free business loan to reduce EMIs by up to 45%* by paying only interest as EMIs.
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Borrow up to Rs. 80 lakh
Use this ample funding for any business-related needs. Moreover, be sure to use the EMI Calculator to borrow efficiently.
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Easy repayment
Choose a flexible tenure that ranges from 1 year to 8 years for maximum repayment comfort.
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Digital tools
Use our online loan account to access your loan statement and manage your EMIs at any time and from anywhere.
Any asset you own, be it personal or business-related, can be used financially. You can use it as collateral and borrow an amount based on its value. This is usually the approach taken when you require a large sum of money, but with the collateral-free business loan from Bajaj Finance, you get collateral free loan.
What is a Collateral Free Business Loan?
A collateral-free business loan is a financing option where borrowers do not need to pledge assets as security. Lenders approve these loans based on creditworthiness, business performance, and repayment capacity. With Bajaj Finance, you do not need to risk your assets. You can avail of a sizable sanction easily and without any long-winding processing hassles. Our unsecured business loans are easy to apply for using a short and simple online form. All you need to do is meet the simple eligibility criteria and submit minimal documents to enjoy fast approval in just 48 hours*.
Eligibility criteria and documents required
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Age
24 years to 80 years*
(*age should be 80 years at the time of loan maturity).
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Nationality
Indian
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Work status
Self-employed
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Business vintage
3 years
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Credit Score
685 or higher
Documents required:
- KYC documents - Aadhaar/ passport/ voter’s ID
- PAN card
- Proof of business ownership
- Other financial documents
Interest rate and fees applicable
With our loan, you can borrow affordably and without the worry of hidden charges. Refer to this table for a breakup of a few of the fees and charges applicable.
| Type of fee | Applicable charges |
| Rate of interest | 9.75% - 30% per annum |
| Processing fees | Up to 3.54% of the loan amount (inclusive of applicable taxes) |
| Bounce charge | In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied. |
| Document processing charges | Up to Rs. 2,360/- (inclusive of applicable taxes) |
| Flexi Fee | Term Loan - Not applicable Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes) Flexi Variant (as applicable below) - A fee will be deducted upfront from the loan amount
*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
| Penal interest | 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. |
| Pre-payment charges | Full Pre-payment
Part Pre-payment
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| Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from the loan amount. |
| 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 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged: |
| Annual maintenance charges | Term Loan – Not Applicable Flexi Term Loan (Flexi Dropline): Up to 0.413% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure. |
| Switch Fees* | Up to 1.18% of the loan amount (inclusive of applicable taxes) |
*Switch Fee is applicable only in case of switch of loan. In switch cases, Processing Fees and Documentation Charges will not be applicable.
How to apply
To apply for the business loans without collateral, simply follow these steps:
- 1 Click on the ‘APPLY' button on this page.
- 2 Enter your 10-digit mobile number and OTP.
- 3 Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
- 4 Once you enter all your details, please click on ‘PROCEED’ to visit the loan selection page.
- 5 Enter the loan amount that you need. Choose from our three business loan variants – Term, Flexi Term, and Flexi Hybrid.
- 6 Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- 7 Complete your KYC and submit your business loan application.
Frequently asked questions
Collateral requirements depend on the type of business loan that you are opting for. Some loans, like secured loans, require collateral, while collateral-free loans, such as unsecured loans, do not necessitate assets as security.
With Bajaj Finance, you can get a collateral free business loan of up to Rs. 80 lakh. The final loan amount depends on your creditworthiness, and business financials.
