BAJAJ FINSERV DIRECT LIMITED

₹3 Lakhs Business Loan

Running a business requires a steady flow of funds, whether it’s to expand your operations, invest in new equipment, or manage everyday expenses. A ₹3 Lakh Business Loan can offer the financial flexibility you need to achieve these goals without compromising your cash flow. 

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With competitive interest rates and flexible repayment plans, the loan can be a great way to finance your business needs. Also, the completely online application process on Bajaj Markets, makes securing funds much more convenient and hassle-free.

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Your Business Loan EMI
₹ 10,846
Total Interest Amount
₹ 90,446
Principal Amount
₹ 3,00,000
Total Payable Amount
₹ 3,90,446
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

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

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

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Overview

For a small business owner aiming to drive growth, invest in new equipment, or manage cash flow, a ₹3 Lakh business loan is an ideal solution. It provides the necessary funds to address immediate financial needs, whether it is boosting inventory, covering operational expenses, or enhancing business capabilities.

You may select a tenure that helps you manage your finances better:

  • With a 36-month tenure and an interest rate of 14% p.a., the monthly EMI will be approximately ₹10,253. This results in a total interest outgo of around ₹69,118 over the loan period.

  • Opting for a longer 96-month tenure at the same interest rate reduces the EMI to approximately ₹5,211. However, this increases the total interest payable to around ₹2,00,299.

While shorter tenures reduce overall interest costs, longer tenures offer lower monthly payments. A ₹3 Lakh business loan provides fast disbursal, minimal documentation, and no collateral required, offering flexibility to manage working capital on your own terms.

Lenders Offering Business Loans of ₹3 Lakhs on Bajaj Markets

Explore the different banks and financial institutions offering a ₹3 Lakh business loan on Bajaj Markets%. Check out the interest rates and other details below:

Lender

Starting Interest Rate

Maximum Amount

Maximum Tenure

Aditya Birla Finance

Limited

22% p.a.

₹10 Lakhs

36 months

Bajaj Finance Limited

14% p.a.

₹80 Lakhs

96 months

Credit Saison

22% p.a.

₹10 Lakhs

36 months

FlexiLoans

18% p.a.

₹50 Lakhs

36 months

IIFL Finance

16.50% p.a.

₹30 Lakhs

48 months

InCred

24% p.a.

₹3 Lakhs

60 months

Indifi

22% p.a.

₹30 Lakhs

36 months

KreditBee

18% p.a.

₹30 Lakhs

36 months

Lendingkart

19.20% p.a.

₹35 Lakhs

36 months

Protium

20.5% p.a.

₹35 Lakhs

36 months

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

EMI for a Business Loan of ₹3 Lakhs Over Varying Tenures

Your EMI amount and total repayment cost depend on the repayment tenure you select. Let us consider an example. Assume you take a loan of ₹3 Lakhs at an interest rate of 15% per annum. Depending on the repayment tenure chosen, the instalment amount varies as shown below: 

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

1 Year (12 Months)

₹27,077

₹24,930

₹3,24,930

2 Years (24 Months)

₹14,546

₹49,104

₹3,49,104

3 Years (36 Months)

₹10,400

₹74,386

₹3,74,386

4 Years (48 Months)

₹8,349

₹1,00,763

₹40,00,763

5 Years (60 Months)

₹7,137

₹1,28,219

₹4,28,219

6 Years (72 Months)

₹6,344

₹1,56,732

₹4,56,732

7 Years (84 Months)

₹5,789

₹1,86,278

₹4,86,278

8 Years (96 Months)

₹5,384

₹2,16,828

₹5,16,828

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 ₹3 Lakhs

The amortisation schedule for a ₹3 Lakh business loan at a 15% interest rate for a tenure of 6 months is as follows:

Month

Payable Amount

Principal 

Interest

Balance

Month 1

₹52,210

₹48,460

₹3,750

₹2,51,540

Month 2

₹52,210

₹49,066

₹3,144

₹2,02,474

Month 3

₹52,210

₹49,679

₹2,531

₹1,52,795

Month 4

₹52,210

₹50,300

₹1,910

₹1,02,495

Month 5

₹52,210

₹50,929

₹ 1,281

₹ 51,566

Month 6

₹52,210

₹51,566

₹645

₹0

Disclaimer: These are approximate values and are meant for illustration only. For actual EMI values, reach out to the lender.

Fees and Charges for a Business Loan of ₹3 Lakhs Available on Bajaj Markets

Find out below the various fees and charges applicable for a ₹3 Lakh business loan. You can compare the offerings by different lenders and choose the one that best suits your budget.

Charges

Details

Processing Fee

Up to 6% of the loan amount + applicable taxes

Foreclosure Charges

Up to 5% of the outstanding principal amount (including GST, applicable post 12 months in

some cases)

Part-Payment Charges

Up to 4.72% of the principal amount

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

Eligibility Criteria for a ₹3 Lakh Business Loan

To qualify for a ₹3 Lakh business loan, you need to meet the following general criteria that evaluate your financial credibility: 

  • Age Range: Between 21 and 60 years

  • Nationality: Indian with a strong CIBIL score

  • Applicable to: Self-employed individuals in non-professional roles, such as traders or manufacturers

  • Business Categories: Includes partnerships, LLPs, and private limited enterprises

  • Professional Background: At least 1 year of operation in the current business

  • Financial Requirement: Annual income exceeding ₹1.5 Lakhs as reflected in the ITRs

Please note that these requirements may vary depending on the lender. So, be sure to check the complete list of the eligibility criteria before applying.

Documents Required for a ₹3 Lakh Business Loan

When applying for a ₹3 Lakh business loan, you may need to provide the following documents:

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 Bill

  • Lease Agreement

Income Proof: (Any one of the following)

  • Bank statements from the last 6 months

  • ITR and certified documents with income details

  • Profit and Loss (P&L) statement and balance sheet for the past 2 years

Business Proof (As applicable)

  • Sole Proprietorship Declaration

  • Certified copy of the Partnership Deed

  • Memorandum and Articles of Association

Documents Required for a ₹3 Lakh Business Loan

When applying for a ₹3 Lakh business loan, generally, you may need to specify the purpose of the loan and how you plan to repay it. Here are some examples of how you can use the funds:

  • Business Growth and Expansion

You can use the loan to open additional branches or diversify your offerings, setting the stage for long-term success.

  • Working Capital Management

You can smoothly maintain daily operations, handle seasonal expenses, and stay on top of payroll and bills, even during temporary cash flow shortages.

  • Building Business Credit

Establish a strong business credit profile with timely repayments, making it easier to access larger loans at better terms in the future.

  • Boost Marketing

A business loan can be a valuable resource for expanding your marketing campaigns or launching new promotional strategies. Reach a larger audience and drive more sales.

  • Investment in Technology

You can upgrade your infrastructure or invest in modern technology. Innovate processes to boost productivity, lower costs, and stay competitive.

How to Apply

Here’s a step-by-step guide to apply for the loan on Bajaj Markets:

  • Select the ‘Check Eligibility’ option on this page

  • Provide your personal and business-related details

  • Enter your preferred loan amount and repayment tenure

  • Submit your completed application form

Following this, the lender will verify your application and contact you for further proceedings.

Frequently Asked Questions

3 Lakh Business Loan
What are the benefits of taking a ₹3 Lakh business loan?

It helps you get funds for business expansion, working capital, or inventory. On Bajaj Markets, a ₹3 Lakh business loan comes with interest rates that are competitive. It also offers flexible repayment options and minimal documentation requirements. Easily apply online on $$BrandName$$%.

 

Yes, business loans that do not require collateral are available and offered by multiple leading lenders in India. The approval of these loan offers is based on factors such as your credit score, business stability, etc.

The repayment tenure for a business loan usually ranges from 12 to 96 months. Please note that the repayment period offered to you depends on the lender and your repayment capacity.

Defaulting can lead to penalties, a lower credit score, and, in severe cases, legal action. In such cases, contact your lender to explore options like loan restructuring.

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