Looking to grow your business or manage daily operations effortlessly? With a ₹1 Lakh Business Loan available on 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.
Some essential fees and charges associated with a business loan of ₹1 Lakh are as follows:
Lender |
Starting Interest Rate (p.a) |
Associated Charges |
Aditya Birla Finance |
22.00% |
|
Ambit Finvest |
20.00% |
|
AYE Finance |
29.50% |
|
Bajaj Finance |
14.00% |
|
Credit Saison |
22.00% |
|
IIFL Finance |
16.50% |
|
InCred |
24.00% |
|
Indifi |
22.00% |
|
Lendingkart |
19.20% |
|
Protium |
20.50% |
|
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Here is a simple example to help you understand how the EMI is calculated and the way in which it helps service your loan. Let’s say you took a loan of ₹1 Lakh at an interest rate of 14% p.a. for a period of 36 months. The EMI for this loan would amount to ₹3,417.76.
The following table shows a complete breakdown of your instalments and how they contribute towards the repayment of your loan:
Tenure |
Principal Paid |
Interest Charges |
Outstanding Dues |
1st Year |
₹28,815 |
₹12,197 |
₹71,184 |
2nd Year |
₹33,118 |
₹7,894 |
₹38,065 |
3rd Year |
₹38,065 |
₹2,948 |
₹0 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
Remember that calculating EMIs manually can be both tedious and error-prone. To save time and ensure accuracy, consider using the business loan EMI calculator available on Bajaj Markets.
The set eligibility criteria 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:
Age: 21–60 years
Citizenship: Indian with a good CIBIL score
Eligibility: Self-employed professional/non-professionals (e.g., traders, manufacturers)
Business Type: Partnerships, LLPs, and private limited companies
Experience: Minimum 1 year in current business
Income: Annual income must be at least ₹1.5 Lakhs per annum, as per ITR
Some essential documents you may be asked to submit when applying for a business loan of ₹1 Lakhs are as follows:
Identity Proof: Any one of the following
PAN card
Aadhaar card
Passport
Driving licence
Voter ID
Address Proof: Any one of the following
Aadhaar card
Passport
Utility bills
Lease agreement
Income Proof:
Bank statement for the last 6 months
ITR in addition to certified copies with details, such as income computation
Profit and Loss (P&L) statement and balance sheet for the last 2 years
Business Proof: As applicable
Sole Proprietorship Declaration
Authenticated copy of Partnership Deed
Certified copy of Memorandum and Articles of Association
Follow these simple steps to apply for the loan on Bajaj Markets:
Click on the ‘Check Eligibility’ option on this page
Provide your personal and business details
Enter your preferred loan amount and tenure
Submit the application form
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 from 12 to 96 months, depending on the lender and your repayment capacity.
Yes, most lenders allow prepayment of a ₹1 Lakh business loan, though some may charge a prepayment 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.