Bajaj Finserv offers attractive interest rates other than easy to meet eligibility criteria on SME Loans. These loans are customised to meet varied financial needs of small and medium businesses across India.
Available as a high-value loan of up to Rs.45 lakh, the amount helps meet the diverse financing needs of a business. Meet big-ticket funding requirements like the purchase of new premises, office renovation, asset purchase, working capital introduction, technology up-gradation, and more with the loan and repay comfortably over the tenor.
Before applying, estimate monthly instalments with the help of an SME EMI calculator and decide on the loan amount accordingly. Applicants can also compare applicable SME loan interest rates for different lenders to arrive at a suitable one.
With lower sme loan rates, Bajaj Finserv also offers other attractive facilities to help a borrower save on interest payment. For example, prepayment facilities like foreclosure and part-prepayment are available against nominal charges.
The part-prepayment facility allows borrowers to repay in a lump sum against payment of fees @ 2% on the loan amount plus applicable taxes. Early repayment helps save interest on the repaid amount for the remaining tenor. Prepayment charges are nil for individuals availing the loan at a floating rate of interest.
As for the foreclosure facility, borrowers can avail it against payment of 4% on the remaining loan amount plus applicable taxes. This sme lending rate is also applicable for Flexi Term Loan and Flexi Hybrid Loan, thus making repayment further affordable.
Check out the latest SME loan interest rates and other nominal charges applicable. Repay affordably over the tenor.
|Types of Fees||Applicable Charges|
|Rate of interest||18% onwards|
|Processing fees||Up to 3% of the loan amount|
Statement of Account/ Repayment Schedule/Foreclosure Letter/No Objection Certificate/Interest Certificate/List of documents
|Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificates/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of taxes) per statement/letter/certificate.|
|Bounce charges||Up to Rs. 3000 (Inclusive of applicable taxes)|
|Penal interest (Applicable in case of non-payment of monthly Instalment on/before the Due - Date)||2% per month + applicable taxes|
|Document processing charges||Rs. 1449 + applicable taxes|
|Outstation collection charges||Rs. 65 + applicable taxes per repayment instrument|
MSME stands for Micro, Small and Medium Enterprise. It was introduced by the Government of India in agreement with the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. As per this act, MSMEs are the enterprises involved in the production, processing or preservation of goods and commodities. Vital for economic growth, this sector contributes around one-third of the country’s GDP and generates employment for around 110 million of the population.
It also plays an important role in the socio-economic development of the country as many of these enterprises operate in rural India. According to the Government's annual report of 2018-2019, more than 6 lakh MSMEs operate in the country.
Initially, MSMEs were classified based on two factors - investment in plant/machinery and an annual turnover of the enterprises. However, the Ministry of Micro, Small and Medium Enterprises has recently revised the classification by combining these two factors into a single criterion.
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 lakh under the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme.
We have discontinued this product (MUDRA Loan) at this time. Please reach out to us on +91-8698010101 to know more about the current financial services provided by us.
|Loan amount under Shishu||Up to Rs.50,000|
|Loan amount under Tarun||Rs.50,001 to Rs.500,000|
|Loan amount under Kishore||Rs.500,001 to Rs.10,00,000|
|Processing fees||0.5% for Tarun Loan, nil for others|
|Eligibility criteria||New and Existing Units|
|Repayment period||3-5 Years|
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