Features and benefits
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High loan sanction
Get funds up to Rs. 50 lakh to pay your vendors on time.
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Flexi loans
Choose the Flexi facility to reduce your loan EMIs by up to 45%.*
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Competitive interest rates
Get the advantage of competitive vendor finance interest rates that make repaying easier.
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Pre-approved offers
With exclusive offers for existing customers, the process of availing of financing is further simplified.
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Convenient tenor
Choose a repayment period ranging up to 96 months for affordable EMIs.
Your business may need to pay various vendors at different phases during manufacturing or post-manufacturing. A shortage of funds can delay the process of paying your vendors and ultimately hinder the goods or services being delivered within your production deadline. Avail of vendor financing from Bajaj Finserv to pay vendors on time and ensure smooth flow of business operations.
Through Bajaj Finserv, you can get a business loan of up to Rs. 50 lakh in just 48 hours*. Opt for the Flexi facility and lower your EMIs by up to 45%* for the initial loan tenor.
Eligibility criteria and documents required
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Age
24 years to 70 years*
(*Age should be 70 years at Loan Maturity)
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Nationality
Indian
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Business vintage
Minimum 3 years
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CIBIL score
Check your CIBIL Score for FREE685 or higher
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Work status
Self-employed
You will also need to submit documents related to KYC, proof of business ownership, and various financial records.
Fees and charges applicable
The interest rate and other charges for vendor finance from Bajaj Finserv are as follows:
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 | Any delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment, from the date of default until the receipt of monthly instalment. |
Pre-payment charges | Full Pre-payment
Part Pre-payment
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Stamp duty | 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 0.295% (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) |
Mandate registration charges | In case of UPI mandate registration, Re. 1 (inclusive of applicable taxes) will be collected from the customer |
*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 for vendor finance
It is easy to apply for vendor finance online. Simply follow this step-by-step guide:
- 1 Click ‘Apply Online’ to open the application form
- 2 Enter your basic details and authenticate with an OTP sent to your number
- 3 Fill out the form in full with all the relevant business and personal details
- 4 Upload the last 6 months bank statement and submit your application
Post submission of the application, you will be contacted by our representative to take the process further.
*Conditions apply