₹20 Lakh business loan available on Bajaj Markets can help you secure the required financing with minimal effort. With this option, benefit from flexible repayment options, competitive interest rates, and a user-friendly online process tailored to meet your needs.
Below are the essential fees and charges associated with a ₹20 Lakh business loan:
Lender |
Starting Interest Rate (p.a) |
Associated Charges |
Bajaj Finance |
14.00% |
|
IIFL Finance |
16.50% |
|
FlexiLoans |
18.00% |
|
KreditBee |
18.00% |
|
Lendingkart |
19.20% |
|
Protium |
20.50% |
|
Indifi |
22.00% |
|
U GRO Capital |
24.00% |
|
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Let’s assess the monthly instalments you may be required to make on your ₹20 Lakh business loan. The EMI is calculated on the basis of the loan amount, interest rate, and tenure. Assume you took the required ₹20 Lakh business loan at an interest rate of 14% p.a. for a tenure of 60 months. In this case, your EMI would amount to ₹46,536.50.
Here’s a breakdown of how the monthly instalment will contribute towards servicing the loan and other essential details:
Tenure |
Principal Paid |
Interest Charges |
Outstanding Dues |
1st Year |
₹2,97,019 |
₹2,61,421 |
₹17,02,982 |
2nd Year |
₹3,41,375 |
₹2,17,063 |
₹13,61,607 |
3rd Year |
₹3,92,356 |
₹1,66,081 |
₹9,69,250 |
4th Year |
₹4,50,953 |
₹1,07,485 |
₹5,18,298 |
5th Year |
₹5,18,298 |
₹40,141 |
₹0 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
Keep in mind that manually calculating EMIs can be time-consuming and prone to errors. Instead, use the business loan EMI calculator on Bajaj Markets for fast and precise calculations.
The eligibility requirements for the loan may differ depending on the lender you choose. However, here are some common requirements you are usually asked to fulfil to secure a ₹20 Lakh business loan:
Citizenship: Indian
Age: Between 21 and 60 years
Employment: Self-employed individual with a registered business
Business Vintage: At least 1 year
Business Turnover: At least ₹1.5 Lakhs per year
Business Type: Sole proprietorship, partnership, limited liability partnership, or private limited company
Here is a list of documents you may need to submit when applying for a ₹20 Lakh business loan:
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
Rent/Lease Agreement
Income Proof:
Bank statements for the last 6 months
Income Tax Returns (ITR) of the past 2 financial years
Profit & Loss (P&L) statements and audited balance sheets for the last 2 years
Business Proof: As applicable
Registration certificate of your business
Memorandum and Articles of Association
Partnership Deed
Sole Proprietorship Declaration
Alongside these, you may be required to furnish some other documents. Be sure to get a complete list of the paperwork required by the lender before applying for the loan. This ensures a smooth and hassle-free application process.
Follow these simple steps to apply for a ₹20 Lakh Business Loan on Bajaj Markets:
Click on the ‘Check Eligibility’ button on this page
Provide your personal and business details
Enter ₹20 Lakh as your loan amount and choose a suitable tenure
Submit your application form
After this, your application will be verified. The lender will reach out to you for further proceedings.
A ₹20 Lakh business loan helps you get the required financial flexibility to expand your business operations. You can use the loan amount to purchase advanced equipment and even manage your working capital efficiently. The loan often comes with competitive interest rates, flexible repayment options, and quick disbursal.
Yes, many lenders offer unsecured business loans of up to ₹20 Lakh, which do not require collateral. However, approval depends on factors such as your credit score, business turnover, and repayment capacity. A strong financial profile increases your chances of obtaining a collateral-free loan.
The repayment tenure for a ₹20 Lakh business loan typically ranges from 12 months to 96 months. You can choose a tenure that aligns with your financial planning and cash flow. Opting for a longer tenure reduces the EMI burden but may increase the overall interest paid.