India is seeing big changes in its business world, thanks to new and creative startups. These startups are helping the country's economy grow. Today, India has the third-largest startup ecosystem in the world, with more than 75,000 registered startups.
But to keep running and growing, these startups need regular funding. Like any other business, startups need a lot of money for different things like daily operations, advertising, marketing, making products, buying other businesses, or expanding.
That’s why many business owners look for the right startup business loan to meet their financial needs. These loans help entrepreneurs get quick money to manage their startup costs.
Features and benefits of a start-up business loan
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Easy documentation
You only need to submit a few basic documents to our representative, who will reach your doorstep.
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Quick loan approval
Get quick approval within 24 hours* after meeting the eligibility criteria. Use the loan amount to meet immediate financing needs.
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Collateral-free financing
Avail of a high-value loan amount without pledging any assets with us.
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Easy repayments
We provide convenient and affordable repayments with a tenure ranging up to 96 months.
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Lower your EMIs.
Choose our Flexi facility and lower your EMIs by up to 45%*.
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Attractive rates
Get attractive rates of interest on business loans and enjoy affordable repayments.
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Online account access
You can manage your loan account with our dedicated online customer portal – My Account.
*Terms and conditions apply.
Eligibility criteria and documents required
To help fund the financial requirements of start-up businesses, Bajaj Finance offers credits against simple eligibility criteria. Find them below:
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Business vintage
At least 3 years
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CIBIL Score
685 or above
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Age
24 to 80 years*
(*age should be 80 years at loan maturity).
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Nationality
Indian resident
The following documents are required to get instant small business loans.
- KYC documents
- Proof of business ownership
- Other financial documents
Interest rates and charges
Start-up business loan comes with nominal interest rates and no hidden charges. To view the list of the fees applicable on this loan, click here.
Type of fee |
Applicable charges |
Rate of interest |
14 to 25% per annum |
Processing fees |
Up to 4.72% of the loan amount (inclusive of applicable taxes) |
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. |
Flexi Facility Charge |
Term Loan - Not applicable |
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. |
Prepayment charges |
Full Pre-payment 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. Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi. |
Stamp duty |
Payable as per state laws and deducted upfront from loan amount |
Broken period interest |
Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows: Scenario 1: If Loan is disbursed on 1st or post 10th of the month: |
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 loan tenure. Up to 0.413% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Subsequent loan tenure. |
Legal and incidental charges |
Recovery of charges |
Principal Holiday Facility Fees |
Principal Holiday (as applicable below) - (Inclusive of applicable taxes) Up to Rs. 6499 (Inclusive of applicable taxes) for loan amount less than Rs. 10,00,000. Up to Rs. 8,999 (Inclusive of applicable taxes) for loan amount between Rs. 10,00,000 and 14,99,999. Up to Rs. 13,999 (Inclusive of applicable taxes) for loan amount between Rs. 15,00,000 and Rs. 24,99,999. Up to Rs. 16,999 (Inclusive of applicable taxes) for loan amount Rs. 25,00,000 and above. Note- The above principal holiday facility fees will be deducted upfront from loan amount. Loan amount includes approved loan amount, Insurance Premium and VAS Charges. |
How to Get Startup Business Loan
- Click on the ‘APPLY’ button on this page.
- Enter your 10-digit mobile number and the OTP you receive.
- Fill in the form with your basic details – full name, PAN, date of birth, and PIN code.
- After entering your details, click on ‘PROCEED’ to go to the loan selection page.
- Enter the loan amount you need. Choose one of our three business loan options – Term Loan, Flexi Term Loan, or Flexi Hybrid Loan.
- Select how long you want to repay the loan – from 12 to 96 months – and click ‘PROCEED’.
- Complete your KYC process and submit your business loan application.
- Our team will contact you to guide you through the next steps. Once your documents are verified, the loan amount will be sent to your bank account.
Frequently asked questions
Apart from the interest rate, the other applicable charges and fees for a start-up loan are:
- Broken period interest
- Processing fee
Yes, CIBIL Score is an important eligibility criterion for business loan. For Bajaj Finserv Business Loan you must have a CIBIL Score of 685 or higher.
You can simply look at the eligibility criteria and then determine your eligibility. Otherwise, opt for an easier method and use an online eligibility calculator to get quick and accurate results.
The difficulty or ease to avail of a start-up loan depends on the business itself. There are several factors that lenders consider before approving a loan application. Borrowers must maintain a good credit score and meet/ exceed the eligibility to avail of a high-value loan amount with ease.
Yes, it is mandatory to have a business plan before you avail of a loan. A start-up business loan comes with simple eligibility criteria and minimal documents. With Bajaj Finance, you can get collateral-free funds up to Rs. 80 lakh* (*inclusive of Insurance premium, VAS charges, documentation charges, Flexi fees, and processing fees) once you meet the following eligibility parameters:
- You must be between 24 to 80 years* (*age should be 80 years at the time of loan maturity).
- You must have a minimum business vintage of 3 years.
- You must have a CIBIL Score of 685 or higher.
*Term and conditions apply.
If you are applying for a start-up business loan, your business must have a minimum vintage of 3 years. You also need to meet a few other eligibility parameters and submit the required documents to get a loan of up to Rs. 80 lakh* from Bajaj Finance.
*Inclusive of Insurance premium, VAS charges, documentation charges, Flexi fees, and processing fees).
