Bajaj Finserv is a popular NBFC that offers business loans starting at 17% per annum. The maximum loan amount available is Rs. 45 lakh, with a payback period of up to 60 months. Bajaj Finserv business loans can be used to expand a firm, enhance cash flow, purchase equipment/machinery, fulfill working capital requirements, and more. Check out Kotak Bank Business Loan.
Quick Links
Features and Benefits of Bajaj Finserv Business Loan
Examine the characteristics and advantages of Bajaj Finserv Business Loans, both unsecured and secured.
Bajaj Finserv Unsecured Business Loan:-
| Reduced EMI | Bajaj Finserv allows you to reduce your EMI by up to 50% with the unique Flexi facility, enabling up to 45% lower EMI for the initial tenure. |
| Zero Collateral | High-value business loans are available without pledging any assets, eliminating the risk of locking assets or property. |
| High-Value Loan | You can finance your business with a high-value loan of up to ₹45 Lakhs. |
| Flexible Repayment Tenure | EMIs can be split according to your repayment capacity over a flexible tenure of up to 7 years. |
| Exclusive Pre-Approved Offers | Instant loans offered to select customers with a good credit score and repayment history. |
Types of unsecured business loans offered by Bajaj Finserv
Start-up Business Loan
Financial support is available to launch a new business or grow an existing one with a Start-up Business Loan from Bajaj Finserv. It provides nominal interest rates and collateral-free finance to its borrowers.
- Simple record keeping
- Reasonable interest rates, which begin at 17% annually
- Prompt approvals in less than a day
- Minimal EMIs
- No collateral
- Flexible repayment methods
Working Capital Loan
A working capital loan controls market swings in sales and serves as a funds buffer. The money needed for daily operations is provided by this loan. It is useful for SMEs and seasonal firms who want financing to fulfill their operating requirements.
- Prompt approvals
- Distinct pre-approved loans
- Through the customer portal, you can view details about your loan.
MSME Credit
MSME loans are designed to provide financial support for working capital requirements and business expansion. You can get funds up to Rs 45 lakh at competitive interest rates with Bajaj Finserv. With the help of the Flexi facility, borrowers can manage their finances better and reduce their EMIs by up to 45%. You may also check Bank of Baroda Personal Loan.
Bajaj Finserv Secured Business Loan
| High-Value Finance | Loan up to INR 75 Lakhs based on property value |
| Flexible Tenure | Repayment tenure up to 12 years |
| Multiple Property Mortgage | Option to mortgage multiple properties |
| Flexi Loan Facility | Borrow as needed, repay flexibly, and reduce EMI by up to 45% |
Bajaj Finserv Business Loan: Eligibility Criteria
Unsecured Business Loan
Bajaj Finserv offers unsecured business loans based on the borrower’s financial position, business history, and credit score.
| Nationality | Indian |
| CIBIL Score | Above 685 |
| Business Vintage | At least 3 years |
| Age | 24 years – 70 years (the age on the date of maturity shouldn’t be above 70) |
| Work Status | Self-employed |
Secured Business Loan
When it comes to company financing, secured loans have lower interest rates than unsecured loans. Bajaj Finserv offers secured business loans with flexible repayment tenures and quick approval.
| Nationality | Indian |
| CIBIL Score | Above 720 |
| Business Vintage | Minimum 3 years |
| Job Status | Self-employed/salaried |
| Age | 18 years – 80 years (the age on the date of maturity shouldn’t be above 80) |
| Property ownership | You must own a residential/commercial property in the cities where Bajaj Finserv operates |
Bajaj Finserv Business Loan: Fees and Charges
| Processing Fee | Up to 3.54% of the loan amount (Inclusive of taxes) | Up to 3.54% of the loan amount (Inclusive of taxes) |
| Bounce Charges | Rs. 1500 per bounce | Rs. 1500 per bounce |
| Penal Interest | Rs. 36 per day per installment for delayed payments | Up to Rs. 6,000 per property (Inclusive of taxes) is charged upfront |
| Document Processing Charges | Up to Rs. 2360 (Inclusive of taxes) | Up to Rs. 2360 (Inclusive of taxes) |
| Stamp Duty | Payable as per state laws, deducted upfront | Payable as per state laws |
| Legal and Technical Charges | N/A | Up to Rs. 6,000 per property (Inclusive of taxes) charged upfront |
Annual Maintenance Charges
| Type of Loan | Unsecured Business Loan | Secured Business Loan |
| Flexi Term Loan | Up to 0.413% (Inclusive of taxes) of the Total Withdrawable Amount (as per the repayment schedule) on the date of levy of charges | N/A |
| Flexi Hybrid Loan | Up to 1.18% (Inclusive of taxes) of the Total Withdrawable Amount during Initial loan tenor. Up to 0.413% (Inclusive of taxes) during Subsequent loan tenor | Up to 0.295% (Inclusive of taxes) of the Total Withdrawable Amount during Initial Loan tenor. Not Applicable during Subsequent loan tenor |
You may also check IDFC FIRST Bank Personal Loan.
Pre-Repayment Charges
| Type of Loan | Unsecured Business Loan | Secured Business Loan |
| Term loan/advance EMI/ step-up monthly instalment | Up to 4.72% (Inclusive of taxes) on the outstanding loan amount as on the date of full pre-payment | Up to 4.72% (Inclusive of taxes) on the outstanding loan amount as on the date of full pre-payment |
| Flexi term loan | Up to 4.72% (Inclusive of taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment | Up to 4.72% (Inclusive of taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment |
| Flexi hybrid loan | Up to 4.72% (Inclusive of taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment | 1- Up to 4.72% (Inclusive of taxes) of the principal loan amount prepaid on the date of such part pre-payment 2- Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi |
| Pre-Repayment Charges | 1- Up to 4.72% (Inclusive of taxes) of the principal loan amount repaid on the date of such part pre-payment 2- Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi | 1- Up to 4.72% (Inclusive of taxes) of the principal loan amount repaid on the date of such part pre-payment 2- Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi |
Bajaj Finserv Business Loan Interest Rates
Bajaj Finserv offers competitive interest rates on both secured and unsecured business loans.
| Type of Loan | Interest Rates |
| Unsecured Business Loan | Annualised Rate of Interest is in the range of 9.75% to 30% |
| Secured Business Loan | Annualised Rate of Interest is in the range of 9% to 22% |
Factors Affecting Bajaj Finserv Business Loan Interest Rates
| Nature of Business | The type of business affects the interest rate. Bajaj Finserv evaluates the nature of your business to determine its profitability. |
| CIBIL Score | A CIBIL score of 685 or higher helps secure a lower interest rate, reflecting good creditworthiness. |
| Operational History | A business operational for at least three years is likely to receive favorable interest rates due to its stability and established track record. |
| Annual Turnover | Higher annual turnover indicates financial stability and repayment capacity, enabling businesses to secure more affordable interest rates on loans. |
Bajaj Finserv Business Loan: Documents Required
Unsecured Business Loan
| Identity Proof | Aadhaar card Pan card Passport Voter ID Driving Licence |
| Address Proof | Passport Telephone bill Electricity bill Lease agreement Trade licence Certificate of trade license |
| Financial Documents | Bank account statement of previous 6 months Balance sheet P&L statement of last 2 years audited by a CA |
| Business ownership proof | (Self-Employed Professionals ) In the case of sole proprietorship: Pan Card registration Documents Municipal tax payment receipt IT returns (Self-Employed Non-Professionals) Sole proprietor’s registration documents IT returns Identity proof of the owner Past 6 months’ bank statements of the owner Statement of book debt/creditor/periodic stock GST returns (Partnership and Private Limited) Partnership agreement GST returns Registration certificate Establishment Act Certificate of Commencement Article of Association Memorandum of Association |
Secured Business Loan
| Identity Proof | Aadhaar card Pan card Passport Voter ID Driving License |
| Address Proof | Passport Electricity bill Telephone bill Lease agreement Trade License |
| Financial Documents | Primary business bank account statement of past 6 months Salary slip of past 2 months (only if applicable) |
| Business Documents | Partnership deed Article of Association Memorandum of Association Primary banking account with a minimum vintage of 1 year |
| Property Documents | Sale deed House tax receipt Electricity bill |
EMI Calculator for Bajaj Finserv Business Loan
You can use the EMI calculator offered by Bajaj Finserv to determine the estimated monthly payment for your business loan. To get the estimated amount, fill in the specified fields on their website with the loan amount, interest rate, and loan tenure.
