Need funding to grow your business or handle operational costs smoothly? A ₹2 Lakh Business Loan on Bajaj Markets offers quick access to financing with minimal effort. Enjoy attractive interest rates, flexible repayment terms, and a simple online application process designed to meet your business requirements.

Calculate EMI for ₹2 Lakh Business Loan

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₹2 Lakh Business Loan Interest Rates

You can evaluate the interest rates from different lenders to choose the best option. Here are the rates and charges for a ₹2 Lakh business loan:

Partner

Starting Interest Rate (p.a.)

Processing Fees

Bajaj Finance Limited

14% p.a.

Up to 3.54% (taxes included).

IIFL Finance

16.50% p.a.

2% to 6% + GST.

FlexiLoans

18% p.a.

Up to 2.5%.

KreditBee

18% p.a.

Up to 3%.

Lendingkart

19.20% p.a.

Up to 3%.

Ambit Finvest

20% p.a.

Flat 3%.

Protium

20.5% p.a.

1% to 6%.

Aditya Birla Finance Limited

22% p.a.

3% to 4% + GST.

Indifi

22% p.a.

Up to 3% + GST.

Credit Saison

22% p.a.

From 2.5%.

InCred

24% p.a.

2% to 5%.

UGRO Capital

24% p.a.

No processing fees.

AYE Finance

29.50% p.a.

Up to 2%.

Disclaimer: Interest rates and terms are subject to change at the lender's discretion

EMI Amount for a Business Loan of ₹2 Lakhs

The EMI for a ₹2 Lakh business loan depends on factors like the loan amount, interest rate, and tenure. For example, at 14% p.a. interest over a tenure of 60 months, the EMI would be ₹4,654. This amount includes both principal and interest, with the interest component gradually decreasing as the principal is repaid.

An EMI calculator can help you estimate monthly instalments for various interest rates and tenures, making financial planning more effective. Here’s a breakdown of the EMI structure, showing its contribution to repayment and associated costs at 14% p.a. over 60 months:

Tenure

Principal Paid

Interest Charges

Outstanding Dues

1st Year

₹ 29,701.77

₹ 26,142.03

₹ 1,70,298.22

2nd Year

₹ 34,137.52

₹ 21,706.29

₹ 1,36,160.71

3rd Year

₹ 39,235.67

₹ 16,610

₹ 96,925.03

4th Year

₹ 45,095.22

₹ 10,748.58

₹ 51,829.82

5th Year

₹ 51,829.82

₹ 4,013.98

₹ 0.00

Disclaimer: The figures provided are estimates and for illustration purposes only. For exact EMI details, please contact your lender directly.

Calculating EMIs manually can be complex and error-prone. Instead, use the business loan EMI calculator on Bajaj Markets for quick and reliable calculations.

Eligibility Criteria

To apply for a ₹2 Lakh Business Loan, you need to meet the following requirements:

  • Citizenship: You must be an Indian citizen.

  • Age: Applicants must be between 21 and 60 years of age

  • Creditworthiness: A good CIBIL score is essential

  • Income: Your business should have an annual income of at least ₹1.5 Lakhs as per ITR

  • Professionals: Self-employed professionals like doctors or chartered accountants are eligible

  • Non-professionals: Traders, manufacturers, and other self-employed non-professionals can apply

  • Business Type: Partnerships, LLPs, or private limited companies are eligible

  • Current Experience: At least 1 year of experience in the current business is required

  • Total Experience: A minimum of 5 years of total business experience is necessary

Documents Required

To apply for a ₹2 Lakh Business Loan, the following documents are generally required:

  • Identity Proof: PAN card, Aadhaar card, passport, driving licence, or Voter ID

  • Address Proof: Aadhaar card, passport, utility bills, or lease agreement

  • Income Proof: Bank statements for the last 6 months, ITR for 2 years, and certified financial documents including income computation, P&L statement, and balance sheet

  • Business Proof: Sole Proprietorship Declaration, authenticated Partnership Deed, or a certified copy of the Memorandum and Articles of Association

How to Apply

Here are the steps to apply for a ₹2 Lakh Business Loan on Bajaj Markets:

  1. Click on the ‘Check Eligibility’ option on this page

  2. Fill in your personal and business details accurately

  3. Specify your desired loan amount and repayment tenure

  4. Submit the completed application form for further processing

Frequently Asked Questions

What are the benefits of taking a ₹2 Lakh Business Loan?

A ₹2 Lakh Business Loan can help meet working capital requirements, purchase equipment or inventory, and support business growth.

Can I get a ₹2 Lakh Business Loan without collateral?

Yes, many lenders offer a ₹2 Lakh loan for business. It is subject to the borrower having a good credit score and financial stability.

What is the repayment tenure for a ₹2 Lakh Business Loan?

Repayment tenures for a ₹2 Lakh Business Loan typically range from 12 to 96 months, depending on the lender and the borrower’s repayment capacity.

What happens if I default on a ₹2 Lakh Business Loan?

Defaulting on a ₹2 Lakh Business Loan could negatively impact your credit score and may result in additional penalties.

✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Check Eligibility
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