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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   4.82 stars, based on 89 reviews

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

I applied for the business loan from Bajaj Finance as Finance Buddha recommended me. My loan application & documentation could be completed with ease with the help of Finance Buddha team. The interest rate offered to me was as low as 16%. The processing charges were also very low compare to other banks.

 5/5

I wanted a business loan but I was not having time to chase the banks all the time for asking the approval of the loan. A friend suggested me to gather information before applying anywhere from Finance Buddha.com. I must say the elaborated information that they have is amazing. I called them for documentation help. With the help of Finance Buddha team I applied for business loan of Bajaj Finance. The disbursement of loan was very quick.

 5/5

Bajaj Finance is very superior compare to many other financial institutes. The transparency towards their policies is amazing. There are no hidden charges. My business loan application went so smoothly with them.

 5/5

I wanted to buy a new place for stocking my inventory & that is why I was in need of business loan. I logged into Finance Buddha portal for capturing some information about business loan. I found Business loan offer of Bajaj Finance very suitable for me as the required documents are not much vast. Finance Buddha team helped me with documentation & my loan amount was credited in my account in one week.

 5/5

I am very happy with the services of Bajaj Finance. I am having ongoing business loan with Bajaj Finance. The interest rate offered to me was very reasonable. The process of the business loan is also very easy & transparent.

 5/5

My friend suggested me to take business loan from Bajaj Finance when I was searching come good option for business loan. I am very happy that I chose Bajaj Finance. Their process is fast & easy. The loan amount was in my account in one week which is awesome.

 5/5

I applied for business loan at Bajaj Finance and I got the business loan from them very quick as the processing time was very less. Their executives were supportive but their policy is very customer friendly.

 5/5

I wanted business loan as I was facing cash crunch due to demonetization. I searched to Finance Buddha portal for some feasible option. I chose Bajaj Finance as the processing charges were so low. My application was approved in few days & quickly loan was disbursed in my account. Thank you Bajaj Finance & Finance Buddha for making it so easy for me.

 5/5

Finance Buddha executive asked me to apply for business loan at Bajaj Finance considering my requirements. The loan process is hassle free. My documents were prepared with the help of Finance Buddha team. Thank you so much for your help Finance Buddha.

 5/5

My experience with Bajaj Finance has always been very good. I have taken consumer loan twice from them. Business loan application is smooth & easy. The business loan documents requirements were also standard. Since they have most of the documents required with them as I was an existing customer the time taken was also less.

 5/5

I am very happy to get the quick business loan from Bajaj Finance. Particularly I like to thank Finance Buddha for helping in documentation process for business loan application. The Bajaj Finance business loan rate of interest offered to me was as low as 16%.

 5/5

I wanted to buy machinery for the advancement in my business. A business college suggested me Bajaj Finance for business loan. I visited their branch & collected details for documents. The executives were very supportive. My business loan was approved and disbursed in a week.

 5/5

I chose Bajaj finance over many other options for business loan as I had amazing experience with Bajaj Finance for consumer durable loan. My loan process was so swift. Finance Buddha helped me in preparing documents of the loan. My loan was disbursed in a week time.

 5/5

I searched about Business loan at Finance Buddha but I was looking for a cheaper loan where interest rate is not high. I chose Bajaj Finance as their rate of interest was less compare to other financial institutes.

 5/5

I wanted to apply for business loan as I wanted to expand my business. Finance Buddha suggested me to take business loan from Bajaj Finance. I did exactly what they said even for preparing the documents, and as result my business loan was approved and disbursed without any delays and hassles. Thank you Finance Buddha for helping me out!

 5/5

In the busy schedule it is very crucial to find the business loan provider which saves your time & efforts. Bajaj Finserv is something like that. They made sure that I had as minimum visits to their branch as possible when I was applying for business loan.

 4/5

I was happy about Bajaj Business loan as it went so smooth, only one correction their executives are not very customer friendly. I had to remind them to process further my business loan. Over all good experience!

 3/5

Bajaj Finserv definitely has a clear winning edge over all such finance companies. A transparent consumer friendly approach helps you fulfill your dreams through easy loan payouts. Will refer to friends who need to raise their standard of living through systematic loan payouts out of your savings. Keep it up!

 5/5