Bajaj Finserv Business Loan

The key highlights of Bajaj Finserv business loan are mentioned below:

• Purpose of loan: For working capital requirements, building infrastructure, upgrading existing machinery, purchasing new machinery, fulfilling business cash flow needs, and so on.
• Quantum of loan: You can avail of a Bajaj Finserv business loan up to a maximum of Rs. 80 Lakhs. The amount may vary for different loan types.
• Repayment: The loan tenure can range from 12 months to 96 months. The tenure can change for different loan schemes.
• Interest rate: Bajaj Finance business loan interest rate ranges from 9.75% to 30% p.a. and 9% to 30% p.a. for secured business loans.
• Collateral security: No collateral security is required to avail of an unsecured business loan from Bajaj Finserv.
• Processing fee: The processing fee is up to 3.54% of the loan amount, inclusive of applicable taxes. 
• Prepayment charges: If you wish to foreclose your loan, you will have to pay a penalty of 4.72% (including applicable taxes) of the outstanding loan amount/ total withdrawable amount.
• Part prepayment charges: A penalty of 4.72% (including applicable taxes) of the amount to be prepaid is levied for part prepayment. The prepayment is allowed only after the payment of one EMI. Part prepayment charges are not applicable for Flexi Term Loan and Hybrid Flexi.

The interest rates for Bajaj Finserv business loans may vary from one loan type to another. Following are the details of Bajaj business loan interest rates for different schemes:

Bajaj Finserv Business Loans are customised as per individual requirements. These loans can be availed by MSME/ SME sectors and self-employed professionals like doctors, engineers, and chartered accountants. Different types of Bajaj Finserv Business Loans are:

Business Loan

Partnership firms, private limited companies, and other business entities can apply for this unsecured loan.

• The maximum loan amount offered is up to Rs. 80 Lakhs.
• 3 unique variants i.e. Flexi Term Loan, Flexi Hybrid Loan and Term Loan.
• Convenient repayment tenure of up to 8 years.
• No part-prepayment on Flexi variants.
• Money is transferred to your bank account within 48 hours of approval.

Secured Business Loan

This business loan can be availed of against security/collateral at attractive interest rates.

• The loan is offered for a maximum of Rs. 1.05 Crores.
• Flexible tenure of up to 15 years.
• 3 unique variants i.e. Flexi Term Loan, Flexi Hybrid Loan and Term Loan.
• Extensive geo coverage.
• Low Bajaj Finserv business loan interest rate.
• Minimal documentation, immediate processing, and quick disbursal.
• No part-prepayment on Flexi variants.
• End-to-end online application process.

Business Loan for Chartered Accountants

With this Bajaj Finance loan for business, Chartered Accountants (CA) can take their firm to the next level.

• Flexible tenure of 12 to 96 months.
• Money is transferred to your bank account within 48 hours of approval.
• No collateral and guarantor are required.
• Basic documentation and doorstep services.
• Flexi facility is available.

Doctor Loan 

This is an exclusive business loan for Doctors. The funds can be utilised for expanding practice, purchasing the latest medical equipment, software, training staff, etc.

• The quantum of the loan is up to Rs. 80 Lakhs.
• No collateral and hidden charges.
• End-to-end online application process.
• Tenure ranges between 12 to 96 months.
• Money is transferred to your bank account within 48 hours of approval.
• Flexi Term Loan, Flexi Hybrid Loan and Term Loan variants are available.

Commercial Lending - Term Loans

This loan is offered to mid-size corporate clients for multiple purposes including capacity extension, acquiring business assets, expanding business footprint, etc.

• High-value loan suitable to your business requirements.
• Online access to e-statements with customer portal.
• A dedicated Relationship Manager to assist you.
• Quick credit decisioning, loan processing and client servicing.

Commercial Lending - Working Capital

This loan is offered to mid-size corporates to help them with their day-to-day business activities.

• Flexibility for corporate clients on drawdown and repayment to match their cash flow changes.
• Diversified product offerings including WCDL, Revolving Lines, PBD and SID.
• Online access to e-statements with customer portal.
• A dedicated Relationship Manager to assist you.
• Quick credit decisioning, loan processing and client servicing.

Commercial Lending - Lease Rental Discounting

This loan is offered to mid-size corporates to help them encash future rentals by availing of a loan facility against the lease rentals at attractive interest rates.

• High-value loan suitable to your business requirements.
• Online access to e-statements with customer portal.
• A dedicated Relationship Manager to assist you.
• Quick credit decisioning, loan processing and client servicing.

Microfinance Group Loan

Women applicants belonging to low-income households can avail of this loan by meeting the basic eligibility criteria. 

• Collateral-free loan up to Rs. 1.5 Lakhs.
• Flexible tenure of 12 to 36 months.
• No part prepayment or foreclosure charges.
• No hidden charges are involved.

Bajaj Finserv business loan eligibility criteria are mentioned below:

• The applicant must be an Indian national self-employed.
• The applicant’s age should be a minimum of 24 years (18 years for non-financial applicant/ co-applicant/ guarantor) when applying for the loan and not older than 80 years when the loan matures.
• The applicant must have a business vintage of at least the last 3 years.
• The minimum CIBIL score should be 685 or above.

• PAN Card: It is a mandatory document.
• Proof of identity: Passport/ Aadhar Card/ Voter ID/ Driving Licence/ PAN/ Letter from NPR/ NREGA Job Card.
• Proof of address: Electricity Bill/ Telephone Bill/ Passport/ Trade License/ Lease Agreement.
• Financial documents: A copy of at least the last 1 year’s ITR, Bank Account Statements, Balance Sheet, and Profit & Loss Statement.
• Ownership proof: 
  • Self-employed Professionals: PAN Card/ Registration Document/ ITR/ Electricity Bill/ Municipal Tax Receipt.
  • Self-employed Non-professionals: Registration Document/ ITR/ Bank Statements/ Owner Identity Proof/ Statement of Creditor/ GST Returns/ Book Debt/ Periodic Stock.
  • Partnerships/ Entities: ITR/ GST Returns/ Partnership Agreement/ Shop Registration Certificate/ Identity Proof of Partners.
  • Private Limited Companies: ITR/ GST Returns/ Certificate of Commencement/ Article & MOA of Pvt. Ltd. Company/ Shop Registration Certificate or Identity Proof.

• Open the ‘Business Loan’ page on our website under the ‘Loans’ and click on Compare & Apply.
• Enter all the required details.
• Click on ‘Let’s Go’.
• Choose employment type and enter annual turnover, address details, and other business-related information.
• Accept the terms & conditions and click on Next.
• Enter the OTP received.
• Compare the options displayed on the screen and choose Bajaj Finserv Bank.
• Click on Apply Now to submit your business loan application.
• Note down your Application Number for future reference.
• Our representative will get in touch with you soon.

You can contact Bajaj Finserv Bank regarding all your business loan queries through ways mentioned in the link mentioned below:

Call Bajaj Finance business loan customer care number: 020 7157 6403

Raise a request: https://www.bajajfinserv.in/reach-us

If you want information about Bajaj Finserv commercial lending products, apart from calling the Bajaj business loan customer care number, you can write an email to: CommercialLendingCOE@bajajfinance.in.