₹18 Lakh Business Loan

Calculating your EMI in advance can help you plan repayments and choose a suitable loan tenure. The EMI for a business loan depends on the loan amount, interest rate, and repayment period.

You can calculate your EMI using the following formula:

EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]

Where:

• P = Loan amount

• R = Monthly interest rate (Annual Interest Rate ÷ 12)

• N = Loan tenure in months

For example, suppose you borrow ₹18 Lakhs at 14% p.a. for 96 months, your estimated EMI would be approximately ₹31,268 per month.

Then, 

• Loan Amount: ₹18,00,000

• Interest Rate: 14% p.a.

• Tenure: 96 months

• Estimated EMI: ₹31,268

• Total Interest Payable: ₹12,01,795

• Total Repayment Amount: ₹30,01,795

You can use a business loan EMI calculator to adjust the loan tenure and compare repayment scenarios before finalising your loan application.

Before applying for a ₹18 Lakh business loan, ensure that you meet the lender's Business loan eligibility requirements and keep the necessary documents ready to avoid delays during the application process.

Eligibility Criteria

• Indian citizenship

• Above 21 years of age

• Self-employed professional or non-professional

• Business operational for at least 6 months

• CIBIL score of 650+

• Business registered as a partnership firm, LLP, or private limited company

Documents Required

• Identity Proof (any one): PAN card, Aadhaar card, Passport, Driving Licence, or Voter ID

• Address Proof (any one): Aadhaar card, Passport, Utility Bills, or Lease Agreement

• Income Proof: Bank statements for the last 6 months, ITR, P&L statement, and balance sheet for the last 2 years

• Business Proof: Sole Proprietorship Declaration, Partnership Deed, or Memorandum and Articles of Association

You can apply for a ₹18 Lakh business loan online on Bajaj Markets by following a simple application process.

1. Click on 'Apply Now' to begin your application

2.  Select your profession and enter your mobile number and PIN code

3. Accept the terms and conditions and verify your number using OTP

4. Provide details such as PAN, date of birth, residential status, employment/business information, and email ID

5. View available loan offers

6. Select a suitable offer, complete KYC and e-mandate formalities, and submit your application

Once approved, the lender will disburse the loan amount as per its process.

A ₹18 Lakh business loan can help you meet a variety of business requirements and growth objectives.

• Working Capital Management

Maintain healthy cash flow and manage day-to-day operational expenses.

• Inventory Purchase

Stock up on raw materials, products, or seasonal inventory to meet business demand.

• Business Expansion

Open a new branch, expand operations, or enter new markets.

• Equipment and Machinery

Purchase or upgrade machinery, equipment, and business tools to improve productivity.

• Marketing and Advertising

Fund digital campaigns, branding initiatives, and promotional activities to attract customers.

• Employee and Payroll Expenses

Manage salaries, recruitment costs, and workforce expansion during periods of growth.

• Technology Upgrades

Invest in software, IT infrastructure, or business automation solutions.

• Debt Consolidation

Combine existing business liabilities into a single loan for easier repayment management.