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BAJAJ FINSERV DIRECT LIMITED

₹20 Lakhs Business Loan

₹20 Lakh business loan available on Bajaj Markets can help you secure the required financing with minimal effort.

Your Business Loan EMI

₹ 72,305

Total Interest Amount

₹ 602,972

Principal Amount

₹ 20,00,000

Total Payable Amount

₹ 26,02,972

Loan Amount

Interest Rate

- +

Tenure

- +

Instant Approval

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

Overview

When expanding your business, whether through upgrading equipment or launching new initiatives, having the right funding is essential. A ₹20 Lakh business loan can act as an effective capital for these growth plans. Apply via Bajaj Markets to explore a range of lenders and enjoy fast approval with minimal formalities.

Choosing a shorter repayment term can help reduce interest costs, while a longer tenure provides more flexibility with lower monthly payments. For example:

With a 36-month tenure at 14% annual interest, your monthly EMI would be approximately ₹68,355, with a total interest of around ₹4,60,789.
Opting for a 72-month tenure, for the same interest rate reduces your EMI to ₹41,211, though the total interest paid rises to ₹9,67,226.

This loan can be a great solution to fuel your business growth without impacting your cash flow.

Lenders Offering Business Loans of ₹20 Lakhs on Bajaj Markets

Here is a list of trustworthy lenders on Bajaj Markets that provide ₹20 Lakh business loans for all your business expenses. Compare their interest rates and other highlights:

Partner	Starting Interest Rate (p.a.)	Max. Loan Amount	Max. Tenure
Bajaj Finance	14.00%	₹80 Lakhs	96 months
IIFL Finance	16.50%	₹30 Lakhs	48 months
FlexiLoans	18% (reducing)	₹50 Lakhs	42 months
KreditBee	18.00%	₹30 Lakhs	36 months
Lendingkart	19.20%	₹35 Lakhs	36 months
Protium	20.50%	₹35 Lakhs	36 months
Indifi	22.00%	₹30 Lakhs	36 months
U GRO Capital	24.00%	₹50 Lakhs	72 months

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

EMI for a Business Loan of ₹20 Lakhs Over Varying Tenures

Your EMI amount and your repayment cost depend on the loan tenure. Let us imagine that you opted for the business loan of ₹20 Lakhs with a 14% yearly interest rate. The following table illustrates how the chosen tenure may affect the instalment amount:

Tenure	EMI Amount	Total Interest Payable	Total Repayment Cost
1 year (12 months)	₹1,79,574	₹1,54,891	₹21,54,891
2 years (24 months)	₹96,026	₹3,04,618	₹23,04,618
3 years (36 months)	₹68,355	₹4,60,789	₹24,60,789
4 years (48 months)	₹54,653	₹6,23,342	₹26,23,342
5 years (60 months)	₹46,536	₹7,92,190	₹27,92,190

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

Amortisation Schedule for a Business Loan of ₹20 Lakhs

The table below illustrates the amortisation of the business loan up to ₹20 Lakhs:

Month	Payable Amount	Principal	Interest Rate	Balance
Month 1	₹3,47,076	₹3,23,743	₹23,333	₹16,76,257
Month 2	₹3,47,076	₹3,27,520	₹19,556	₹13,48,738
Month 3	₹3,47,076	₹3,31,341	₹15,735	₹10,17,397
Month 4	₹3,47,076	₹3,35,206	₹11,870	₹6,82,191
Month 5	₹3,47,076	₹3,39,117	₹7,959	₹3,43,073
Month 6	₹3,47,076	₹3,43,073	₹4,003	₹0

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

Fees and Charges for a Business Loan of ₹20 Lakhs Available on Bajaj Markets

The table showcases the different fees charged associated with your loan by various lenders:

Category	Details
Processing Fee	Up to 6% of the loan amount
Foreclosure Fee	Up to 4.72% of the loan amount
Part-Payment Charges	Up to 4.72% of the loan amount

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

Eligibility Criteria for a ₹20 Lakh Business Loan

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 professional or non-professional
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

Documents Required for a ₹20 Lakh Business Loan

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: (Any one of the following)

Bank statements for the last 6 months
Income Tax Returns (ITR) for 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

Different Uses of a ₹20 Lakh Business Loan

With timely funding, you can strengthen or grow your business for long-term growth. Here are some uses of a ₹20 Lakh loan for business:

Business Development and Growth

Business loans act as tools for development and growth. They have played a critical role in the success of numerous enterprises. Having access to rapid and substantial capital is essential when opportunities arise to enter new markets, diversify product lines, or establish offices in different locations.

Business expansion leads to increased income and greater market share. Taking a business loan is one step towards achieving long-term organisational goals.

Management of Working Capital

Every business needs to manage its working capital effectively to maintain seamless operations. Business loans assist in covering working capital shortages, especially during unexpected or seasonal disruptions. They ensure that the business maintains sufficient funds to meet ongoing operational expenses and obligations.

Investing in Innovation and Technology

Business loans enable entrepreneurs to adopt modern technologies and embrace innovation. This type of investment reduces costs in the long run, enhances product quality, and provides a competitive edge in the global marketplace. Business loans provide the financial resources required to support such transformative initiatives.

This makes borrowing more cost-effective and results in notable savings.

How To Apply for a ₹20 Lakh Business Loan

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.

Check Other Instant Business Loan Options

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25 Lakh Business Loan	30 Lakh Business Loan	50 Lakh Business Loan

Frequently Asked Questions

20 Lakh Business Loan

What are the benefits of taking a ₹20 Lakh business loan?

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.

Can I get a ₹20 Lakh loan for a business without collateral?

Yes, many lenders offer unsecured business loans of up to ₹20 Lakh, which do not require collateral. However, approval depends on your credit score, business turnover, and repayment capacity. A strong financial profile increases your chances of obtaining a collateral-free loan.

What is the repayment tenure for a ₹20 Lakh business loan?

The repayment tenure for a ₹20 Lakh business loan typically ranges from 36 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.

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₹20 Lakhs Business Loan

Overview

Lenders Offering Business Loans of ₹20 Lakhs on Bajaj Markets

EMI for a Business Loan of ₹20 Lakhs Over Varying Tenures

Amortisation Schedule for a Business Loan of ₹20 Lakhs

Fees and Charges for a Business Loan of ₹20 Lakhs Available on Bajaj Markets

Eligibility Criteria for a ₹20 Lakh Business Loan

Documents Required for a ₹20 Lakh Business Loan

Different Uses of a ₹20 Lakh Business Loan

How To Apply for a ₹20 Lakh Business Loan

Check Other Instant Business Loan Options

Frequently Asked Questions

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