BAJAJ FINSERV DIRECT LIMITED

₹1 Lakh Business Loan

Looking to grow your business or manage daily operations effortlessly? With a ₹1 Lakh Business Loan available at Bajaj Markets, you can access quick funding with minimal hassle. Apply now and take advantage of flexible repayment options, competitive interest rates, and a seamless online process designed to suit your financial needs.

Your Business Loan EMI
₹ 1,737
Total Interest Amount
₹ 66,766
Principal Amount
₹ 1,00,000
Total Payable Amount
₹ 1,66,766
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

You can also make instant comparisons between loan offers from over 10+ business loan providers on Bajaj Markets.

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

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Overview

As a small business owner, you may require additional funds to manage working capital or hire employees to grow your team. These needs require funding, and having access to the right amount of capital ensures your business continues to operate smoothly without straining your cash flow.

Get an idea of the repayment plan at various tenures below:

  • 12-month tenure at 14% interest: The EMI will be around ₹8,979, and the total interest will be ₹7,745. 

  • 36-month tenure at 14% interest: The EMI will be ₹3,418, and the total interest will be approximately ₹23,039. 

Choosing a shorter tenure can reduce overall interest costs, while a longer one offers more manageable monthly payments. With flexible tenure options and quick disbursal, a business loan can provide the financial support your business needs.

Compare ₹1 Lakh Business Loan Interest Rates by Various NBFCs

You can secure a business loan of ₹1 Lakh from leading banks and financial institutions on this platform at a competitive interest rate. The table below provides details of the interest rate, maximum tenure, and loan amount:

Available Offerings

Starting Interest Rate

Maximum Loan Amount

Maximum Loan Tenure

Processing Fees

Bajaj Finance Business Loan

14.00% p.a.

₹80 Lakhs 

96 months

Up to 3.54% (Inclusive of applicable taxes) of the loan amount

L&T Finance Business Loan

15.50% p.a.

₹75 Lakhs 

60 months 

2% + GST

IIFL Finance Business Loan

16.50% p.a.

₹30 Lakhs

48 months 

Up to 2.50% of the loan amount + GST

FlexiLoans Business Loan

18.00% p.a.

₹50 Lakhs

42 months

Up to 2.5% of the loan amount

KreditBee Business Loan

18.00% p.a.

₹30 Lakhs

36 months

3% to 4.25% of the loan amount

Lendingkart Business Loan

19.20% p.a.

₹35 Lakhs 

36 months

Up to 3% of the loan amount

Ambit Finvest Business Loan

20.00% p.a.

₹2 Lakhs 

36 months

3% of the loan amount

Protium Business Loan

20.50% p.a.

₹35 Lakhs 

36 months

1% to 6% of the loan amount

Aditya Birla Capital UDYOG PLUS Business Loan

22.00% p.a.

₹10 Lakhs 

36 months 

3% to 4% of the loan amount + GST

Credit Saison Business Loan

22.00% p.a.

₹10 Lakhs 

36 months 

Up to 4.72% (Inclusive of applicable taxes)

Indifi Business Loan

22.00% p.a.

₹30 Lakhs

36 months

Up to 3% of the loan amount + GST

InCred Business Loan

24.00% p.a.

₹3 Lakh

60 months

2% to 5% of the loan amount

U GRO Capital Business Loan

24.00% p.a.

₹50 Lakhs

72 months 

NIL 

AYE Finance Business Loan

29.50% p.a.

₹2 Lakhs 

30 months 

Up to 2% of the loan amount

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

₹1 Lakh Business Loan EMI for Different Tenures

The loan tenure primarily affects your EMI and the total repayment amount. For instance, when you borrow ₹1 Lakh at an interest rate of 14% p.a., your EMI changes depending on the selected tenure, as illustrated below:

Tenure

EMI Amount

Interest Rate

Total Interest Payable

Total Repayment Cost

₹1 Lakh Loan for 12 Months

₹8,979

14%

₹7,745

₹1,07,745

₹1 Lakh Loan for 36 Months

₹3,418

14%

₹23,039

₹1,23,039

₹1 Lakh Loan for 60 Months

₹2,327

14%

₹39,610

₹1,39,610

₹1 Lakh Loan for 72 Months

₹2,061

14%

₹48,361

₹1,48,361

Disclaimer: Note that these are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

₹1 Lakh Business Loan: Fees and Charges

In addition to your EMI and interest, additional charges may also apply to your loan. Refer to the details below for a comprehensive overview: 

Charges 

Details

Processing Fee

Up to 6% of the loan amount

Foreclosure Charges

Up to 10% + GST

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

How to Calculate Your Business Loan EMI

Let’s say you have taken a business loan of ₹1 Lakh at an annual interest rate of 12% for 12 months. To calculate your business loan EMIs, you need to use a standard mathematical formula. This formula considers the loan amount, interest rate, and tenure. The formula is:

EMI = P × R × (1 + R)n / [(1 + R)n – 1]

where: 

  • P = Principal loan amount

  • R = Monthly interest rate (Annual interest rate / 12 / 100)

  • N = Loan tenure in months 

The monthly EMI, in this case, would be approximately ₹8,885. You can also use online business loan EMI calculators to generate quick and error-free results.

Eligibility Criteria and Documents for a ₹1 Lakh Business Loan

The eligibility criteria for a ₹1 Lakh loan for a small business may differ from one lender to another. However, here are some common requirements you may be asked to fulfil to qualify for a business loan of ₹1 Lakh:

  1. Age: Above 21 years

  2. Citizenship: Must be a citizen and resident of India

  3. CIBIL Score: Should have a good CIBIL score of 700 or above

  4. Eligibility: Self-employed professionals/non-professionals (e.g., traders, manufacturers)

  5. Business Type: Partnerships, LLPs, and private limited companies

  6. Experience: Minimum 1 to 3 years of business experience

  7. Income: Annual revenue must be at least ₹1 Lakh, as per ITR

After fulfilling these criteria, you may have to submit some essential documents. The documents are as follows:

Identity Proof (Any one)

Address Proof (Any one)

Income Proof (Any one)

Business Proof: (As applicable)

PAN card

Aadhaar card

Bank statement for the last 6 months

Sole Proprietorship Declaration

Aadhaar card

Passport

ITR, in addition to certified copies with details, such as income computation

Authenticated copy of Partnership Deed

Passport

Utility bills

Profit and Loss (P&L) statement and balance sheet for the last 2 years

Certified copy of Memorandum and Articles of Association

Driving licence

Lease agreement

 

 

Voter ID

 

 

 

How to Apply for a Business Loan of ₹1 Lakh

You can apply for a ₹1 Lakh business loan through the website. You can also download the Bajaj Markets app. Follow these simple steps:

  • Step 1: Click on the ‘Check Eligibility’ option on this page

  • Step 2: Provide your personal and business details

  • Step 3: Enter your preferred loan amount and tenure

  • Step 4: Submit the application form

Following this, a representative will reach out to you for further verification and loan approval.

₹1 Lakh Business Loan Monthly Payment Plan

A ₹1 Lakh business loan at a 14% interest rate for 6 months comes with the following amortisation breakdown:

Month

Payable Amount

Principal

Interest

Balance

Month 1

₹17,354

₹16,187

₹1,167

₹83,813

Month 2

₹17,354

₹16,376

₹978

₹67,437

Month 3

₹17,354

₹16,567

₹787

₹50,870

Month 4

₹17,354

₹16,760

₹593

₹34,110

Month 5

₹17,354

₹16,956

₹398

₹17,154

Month 6

₹17,354

₹17,154

₹200

₹0

Disclaimer: Note that these are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Impact of Pre and Post-Business Loan Approval on CIBIL Score

Your CIBIL score indicates your credit reliability. Here is how taking a business loan can affect your score and overall financial standing:

  • Pre-approval Impact

Before a business loan is approved, lenders usually conduct a hard inquiry to assess a business’s creditworthiness. A single hard inquiry does not impact the CIBIL score significantly; however, multiple inquiries within a short period indicate credit-hungry behaviour.

This may reduce the chances of approval and can slightly lower the score. Hard inquiries remain visible on the CIBIL report for up to two years.

  • Post-repayment Impact

Once the loan is approved, maintaining a strong repayment history is essential. Delayed EMIs or loan defaults negatively affect the credit score. Repeated missed payments are recorded in the credit report and result in a lower score.

High credit utilisation and holding several outstanding loans also weaken the repayment capacity over time.

Uses of a ₹1 Lakh Business Loan

You can use the ₹1 Lakh loan for a small business in several practical ways. Here are some common uses:

  • Buying Equipment or Tools

You can use funds to purchase essential machines, tools, or technology that help you start, run, or improve your business operations. Whether you need updated software, reliable hardware, or specialised tools for your trade, having the right equipment can increase efficiency and support growth.

  • Managing Working Capital

Use your funds to manage everyday business expenses. This includes covering rent, utility bills, staff salaries, or purchasing stock to keep your shelves full. Maintaining healthy working capital ensures you can keep your business running smoothly without interruptions.

  • Marketing

Invest in promoting your brand to attract more customers. You might run online advertisements, build a professional website, manage active social media campaigns, or distribute printed materials such as flyers or brochures. Effective marketing helps you build visibility and drive sales.

  • Handling Emergencies

Set aside funds as a financial safety net to deal with unexpected costs. These may include emergency repairs, last-minute supply issues, or other urgent situations that could disrupt your operations. Being prepared allows you to respond quickly and minimise the impact on your business.

Frequently Asked Questions

1 Lakh Business Loan
What are the benefits of taking a ₹1 Lakh business loan?

A ₹1 Lakh loan for business can help cover working capital needs, purchase inventory, or fund small-scale business expansions without dipping into personal savings.

Yes, many lenders in India offer unsecured business loans of ₹1 Lakh based on your creditworthiness and financial stability.

Repayment tenures for a ₹1 Lakh business loan typically range up to 96 months, depending on the lender and your repayment capacity.

Yes, most lenders allow pre-payment of a ₹1 Lakh business loan, though some may charge a pre-payment penalty.

Defaulting on a ₹1 Lakh business loan could harm your credit score and result in additional penalties and interest charges. In severe cases, it may also lead to legal action.

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