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Bajaj Finserv Business Loan     

Getting cash for your business without any security or collateral is now possible with the help of a business loan. Bajaj Finserv is one among those banks that is a best choice for customers who are keen on getting business loan for low rate of interest. This business loan amount can be used for investing into a new business or for the expansion of an existing one. This bank is committed to provide support for those businesses that need financial assistance to grown further.

Features & Benefits of Bajaj Finserv Business Loan

Here is the list of some of the best features of Bajaj Finserv for business loan:

  • Simplified documentation procedure
  • Fast service is offered by loan experts
  • Quick processing and less paper-work
  • 99% approval is guarantee
  • Subject to eligibility top-up loan can be availed
  • Avail Attractive Interest Rates
  • Hassle-free Loans - No Guarantor / Security or Collateral required
  • Repay with easy EMIs
  • Credit Shield
  • Disbursal in 5 Days
  • Borrow up to Rs 30,00,000 for any business purpose
  • Flexible repayment options, ranging from 12 to 48 months
  • Convenience of service at your doorstep
  • Customized Offer for Women Professionals called as women entrepreneur business loan

Benefits this bank offers to its business loan customers:

  • Pre-payment option for the loan is available and this can be done any time after your 1st EMI. Upto 25% can be pre-paid in a year without any charges
  • Foreclosure of the entire Business loan is possible any time after the 1st EMI. This has 4% charges applied on the outstanding principal
  • This bank offers special discounts and schemes for employees of reputed, recognized and large companies

Terms & Conditions of Bajaj Finserv Business Loan

Here are some of the terms and conditions of Bajaj Finserv for availing a business loan:

  1. If the borrower takes loan in the form of Advance EMI option, then the below should be followed:
    • It’s agreed by the Borrowers that the EMI paid in advance as per clause 2.15 (a) (i) above shall be deducted from the loan and the remaining amount of the loan after such deductions will be disbursed to the borrower.
    • The Borrower shall pay in advance the amount of the last EMI in relation to the loan as mentioned in Schedule II.

     

  2. If the applicant avails the loan in the form of Step up Structured EMIs, then:
    • It is clarified and agreed by the borrower that the amount of EMI paid by the borrower will increase gradually during the loan period.
    • The borrower shall have the benefit of paying staggered or different amounts of EMI in relation to the loan amount which become payable during loan tenure as mentioned in Scheduled II.

     

  3. If the borrower avails loan in the form of Step Down Structured EMIs, then:
  • The borrower shall have the benefit of paying staggered or different amounts of EMI in relation to the loan amount which become payable during loan tenure as mentioned in Scheduled II.
  • It is clarified and agreed by the borrowers that the amount of EMI paid by the applicant will decrease gradually during the loan.

Why should you choose Bajaj Finserv Business Loan?

Bajaj Finserv is one of the most leading banks that provides business loan to its customers. This bank is preferred by customers as compared to others due to exceptional features such as:

  • The applicant can avail loan up to INR 4.5 million without any guarantor or collateral.
  • It offers prompt repayment benefits to the borrowers.
  • Part- payment and fore-closure options are available.
  • There are no additional charges involved in foreclosure of a business loan.
  • There are pre-approved offers.
  • Customers can access and monitor their account through online.

How to apply online for Bajaj Finserv Business Loan?

Getting a business loan is fast and easier than finding the right bank. It is very crucial that you approach the right bank which will offer you loan. While applying it is essential for the applicant to know if he is meeting all the eligibility criteria and this information is essential to get the loan approved without any CIBIL impact. Finance Buddha platform helps all borrowers to check their eligibility through online and you can also compare what different banks can offer.

 Once you choose the best bank that offers maximum benefits at low rate of interest, apply for the same through Finance Buddha. This application will be sent to the bank who will process it internally and it the application looks eligible they will contact you directly. As you would have checked the eligibility through Finance Buddha before applying, there is very less chance of you not getting a business loan!

Eligibility Criteria for Bajaj Finserv Business Loan

The below eligibility criteria should be met before applying for a business loan from Bajaj Finserv:

  • Age limit is between 25 and 65 years only
  • You should have profit making business for at least last 2 years
  • Minimum loan amount must be Rs. 500,000 and the maximum limit is only Rs. 3,000,000
  • Tenure limit of 1 Year minimum up to 4 Years maximum
  • Must be salaried Indian residents working at MNCs, public companies, and other large establishments
  • Income must be greater than Rs. 25,000 per month

Documents Required for Bajaj Finserv Business Loan

  1. Complete loan application form with one passport size photograph
  2. Valid Proof of Applicant's Identity: Passport, Photo PAN card, Voter’s identity card ,  Driving license and MAPIN card
  3. Proof of Residence: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificate
  4. Proof of Age: Passport, Photo PAN card, Voter’s identity card
  5. Financial Documents: Copies of IT returns for the last two years along with the latest Bank statements for 6 months and P & L and balance sheet for last two years audited by a C.A.
  1. Self Employed (Private Ltd. Co. and Partnership Firms): Copies of IT returns for the last two years and P & L and balance sheet for last two years audited by a chartered accountant
  2. Self Employed Individuals: Copies of IT returns for the last two years and Bank statements for last 6 months and – Professionals: P & L and balance sheet for last two years audited by a chartered accountant
  3. Self Employed Individuals - Non Professionals: P & L and balance sheet for last two years audited by a chartered accountant and Copies of IT returns for the last two years and Bank statements

To simplify:

Documents

Professional

Businessman

Application form

Yes

Yes

1 Photograph of Co-Applicant

Yes

Yes

Income Details

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

IT Returns, Balance Sheet & P/L Account statement for the last 2 years with Annexure

Bank Account Statements

For last 3 months

For last 3 months

KYC documents of Co-applicant

Yes

Yes

Business Proof

Certificate of Practice

MOA, AOA/ Partnership Deed/ Shop Act License

Bajaj Finserv Business Loan Interest Rates, Fees & Charges

The below table will give an overview of the rates and charges by Bajaj Finserv. This will help you to check if your business needs can be met through a business loan from this NBFC.

Fee 

Charges

Rate of Interest

16% – 21%

Processing Fees

2% of the loan amount will be deducted at the time of disbursal of approved loan amount

EMI Bounce Charges

₹ 1000 will be charged in the subsequent month for every bounce

Penal Interest

2.00% p.m. overdue charges will be levied basis 360 days per year

 

Bajaj Finserv Business Loan Foreclosure Charges

Borrower Type: Interest Type

Time Period (Months)

Foreclosure charges

NA

>1

4% plus applicable taxes on principal outstanding *

*Foreclosure: charges will be applicable on the current principal outstanding.
*Foreclosure charges for line of credit and Flexi loans will be calculated on the Current principal outstanding.

Bajaj Finserv Business Loan Part-prepayment Charges

Borrower Type: Interest Type

Time Period (Months)

Part payment charges

NA

>1

2% plus applicable taxes on part payment amount paid

*Part payment made should be more than 1 EMI
*Nil part payment charges for flexi

Frequently Asked Questions

How can I know if am eligible for a business loan?

Make use of the Finance Buddha eligibility form to check your eligibility before applying for a loan.

What are the ways of repaying the loan?

It can be repaid through post-dated cheques or through ECS.

What is the maximum tenure for a business loan with Bajaj Finserv?

You can avail loan up to 48 month it you meet the necessary criteria.

What is the maximum limit of loan amount that can be availed from Bajaj Finserv?

Loan can be taken up to 30 Lakhs for tenure of maximum 4 years

When can I expect the money once the business loan is approved?

Money will be credited your account within 72 hours once the loan amount is approved.

Is there any fore-closure charges and when can I fore-close my business loan?

There are no fore-closure charges and the business loan can be fore-closed any time after making the 1st EMI.

What are the interest rate advantages when a loan is pre-paid?

There is no interest charged on the amount that is pre-closed. Only on the outstanding amount interest are applicable.

Are there pre-approved offers on business loans for customers of Bajaj Finserv?

Yes, existing customers can avail the option of pre-approved loans.

What is the age limit to apply for a business loan with Bajaj Finserv?

You can apply for a loan when you are in between 25 to 65 years of age.

Are there any charges by Finance Buddha for the service offered?

No, there are no charges implied on the customers of Finance Buddha. This platform offers services for absolutely FREE!

What are the common and the must submit documents?

• Complete loan application form with one passport size photograph • Valid Proof of Applicant's Identity: Passport, PAN card, Voter identity card , Driving license • Proof of Residence: Ration card Tel/ Electricity Bill/ Lease agreement/ Trade license /Passport /Sales Tax certificate • Proof of Age: Passport, PAN card, Voter identity card • Financial Documents

Reviews

Fast processing ever!! I opted Bajaj Finance from Finance Buddha portal for my Business loan. And I got a quick response from them. Ever there were time to time follow up by the Finance Buddha team of executives. There was a good support from the bank staff as well.

 5/5

I went with Bajaj finance for my Business Loan. They provided me the loan at an interest rate of 16% p.a. and the processing fee was 2%. The processing was on time and I got the business loan approved just in 18 working days. I am really very happy with their service.

 5/5

Good interest rates and a very good follow up by the bank executives. Will recommend it to others also.

 5/5

I am having my current going business loan with Bajaj Finance. They were best in providing service regarding my Business loan. The process started from the next day after I applied. The Finance Buddha executives came to my home for collecting the documents. I had not to go bank even for a single time. The whole process was completed in almost two weeks by the Finance Buddha executives.

 4/5

Simply Amazing service by both Finance Buddha and Bajaj Finserv. My Business Loan got approved in just 18 days!!

 5/5

Business loan with Bajaj Finserv helped me a lot in starting up my new business. I applied for it through Finance Buddha website. The rates they offered were lower than the other banks and even the processing charges were less.

 5/5

The site is truly basic and I connected for my Bajaj Finserv business Loan in only 2 minutes. I gave my own points of interest and the advance sum I wish to take. I got my loan approved and disbursed only in 19 working days.

 4/5

I was willing to extend by business but I was not having that much fund which was required for the extension. Then I got to know about Finance Buddha from 1 of my friend, he suggested me to go with them and apply online. I was amazed with the smoothness of the process. The loan was disbursed in almost 20 days.

 4/5

Thanks Bajaj Finserv for your help! My Business loan was approved by Bajaj Finance. Their processing was really fast. The process was completely hassle free and smooth. I had to face no tension regarding my Loan. My Loan application got approved in just 2 weeks.

 5/5

Business Loan is an unsecured loan in which you have nothing to give as a guaranty. I got all these information from the Finance Buddha website. After having complete knowledge about the Business loan I applied for it with the Finance Buddha portal. I received a quick response from them and the documentation process started from the next very day and I got my loan disbursed in 15-16 days of applying.

 5/5

After comparing different banks on the Finance Buddha website I went with Bajaj finance for my Business Loan. I applied for a business loan worth 7 lakhs. There was a positive response from the bank and somewhat in 19 days only the loan was disbursed to me. I am very much happy with it.

 5/5

The processing is fast, quick documentation with the help of executives, and excellent service.

 4/5

My business loan got approved in 15 days, this was too much time. They didn’t done what they guaranteed on their site about the fast processing. The rates and charges were good. The only thing I will suggest to them is to improve their processing time. I will give 3 stars to Bajaj Finance for the Business Loan.

 3/5

I joined my family business after completing my education. When I joined that I realized that lot of changes are required regarding technique and investments. But I was not able to do anything because we were not having that much of money which was required to do so. Then while using Facebook I saw Finance Buddha Advertisement. I clicked on that and applied. It was a simple process. I got response from them on that very day. The process was completed in 18 days and my loan got disbursed on the 19th day with Bajaj Finance. I am fully satisfied with the service of both Finance Buddha and Bajaj Finance.

 4/5

I will never forget what Bajaj Finserv and Finance Buddha have done for me. I am a post-graduate from Tier1 College and was willing to open my own startup company in Bangalore. I applied for a business loan with Bajaj Finance through Finance Buddha website. I was surprised that the loan approval process started from the next very day and was completed without any hassle or stress in 2 weeks. Though the credit amount was high but I got the loan amount. Thanks Bajaj Finance for your help and support.

 5/5

Smooth and Hassle free service. I am having my Business Loan with Bajaj Finance. The rate they offered is good only which is 16% p.a. and the processing fee charged is 2%. The service provided was good and the process was completed in a smooth and a hassle free manner.

 4/5

Thanks to the Finance Buddha team who consider my Business Loan application and lent me Loan with Bajaj Finance. The rate offered to me by Bajaj Finance is 17%p.a. and the processing charge they took was 2%. Any how I am satisfied with their service and gesture.

 4/5

All the things were good only regarding my Business Loan with Bajaj Finance like Rates, charges and even all the terms and conditions were ok. But the time they took in the processing of the loan application was so long as it was 15 days and the loan disbursal took place on the 16th day. They seriously need to improve their processing time.

 3/5

I was in need of business loan as I have signed up some big contracts for business expansion. A friend of mine suggested me to loge into Finance Buddha website for information. I opened the site & I was amazed by the detailed information that they had to offer. I choose Bajaj Finance business loan option & went ahead & applied. Finance Buddha team helped me in preparing the documents for the loan application. Thank you Bajaj Finance for disbursing the loan so quickly.

 5/5

I was in search of business loan as I wanted to buy a new place for business expansion. I thought to go ahead with housing loan but it was not falling under the category of home loan than Finance Buddha executive suggested me that it falls under the category of business loan & I can get business loan for this purpose from Bajaj Finance. The Finance Buddha executive helped me with the documentation & I applied for the loan. The loan was disburse in my account in 7 days. I am really happy with the rate of interest they offered me.

 5/5

Bajaj Finance has smart ways for payment of EMIs. The online payment is superb which saves time as well efforts. My business loan with Bajaj Finance is still going on. The interest rate offered to me was very low compare to many other financial institutes.

 5/5

I must say Bajaj Finance is the smart way to get Business loan especially if you are a time starved customer like me. I am into the business which enforce me travel again & again with this kind of schedule it is very difficult to chase financial institutes for loan approval but with Bajaj Finance they were chasing me & informing me about every detail of loan processing.

 5/5

I logged onto Finance Buddha website for gathering information about the business loan. I must say the information available is very impressive but surely they did not live up to their words. The process was complex. Every time I call they for knowing the status of my loan & they would ask for another document from me. Finally, they approved the loan & my grudge was eased with the rate of interest they offered to me.

 3/5

The only problem with Bajaj Finance is that they are not at all customer friendly. There was always delay from their side. They promised me to disburse the loan in 5 day instead it took 15 days. The interest rate offered was very moderate.

 2/5

I went ahead with Bajaj Finance business loan but my experience was not as I expected. I have heard good reviews about them but they did not live up to my expectations especially in term of services. They took 20 days for the process of my business loan.

 2/5

I applied for business loan from Bajaj Finance. My experience with them is not very fancy. They offered a moderated amount of interest. I wanted a longer tenure for repayment but they said it was not possible.

 3/5

I was facing lack of working capital which is why I wanted to get business loan. I wanted a smaller loan amount but with effective interest rate. I found Bajaj Finance very suitable for my purpose as I went through all the information through Finance Buddha website. I applied for the loan & I am very satisfied with their offering. The interest rate was 16.5% and the repayment tenure is also long enough.

 5/5

I am an existing customer of Bajaj Finance. I had two consumer durable loan ongoing when I applied for business loan from Bajaj Finance. The service offered by them was really good. I had registered on FinBud's site and I was responded appropriately. The executives of FinBud are very cooperative. The application of business loan was processed quite smoothly. The business loan was approved in 5 days.

 5/5

I took business loan for business expansion purpose; it was a nice experience with Bajaj Finance. They have taken 15 days to complete the process; I got the loan amount of Rs.17 lakhs with the tenure of seven years. Still my loan is running without any hassle.

 4/5

I searched about business loan from Bajaj Finance on their website. All the required information is presented on the website. The business loan designed by Bajaj Finance is very customer oriented. The loan was disbursed in my account in a week. The processing charges were waived off as I had taken consumer durable loan from Bajaj Finance in past.

 5/5