₹60 Lakh Business Loan

Knowing your EMI in advance can help you assess whether the loan fits your business cash flow and repayment capacity. The EMI is determined by the loan amount, interest rate, and tenure.

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

• N = Loan tenure in months

Lets understand with an example,

Suppose you take a ₹60 Lakh business loan at 14% p.a. for 96 months:

• Loan Amount: ₹60,00,000

• Interest Rate: 14% p.a.

• Tenure: 96 months

• Estimated EMI: ₹1,04,229

• Total Interest Payable: ₹40,05,984

• Total Repayment Amount: ₹1,00,05,984

While the formula can help you calculate the EMI manually, a business loan EMI calculator offers a faster and more convenient way to estimate your monthly instalments and total repayment cost.

Before applying for a ₹60 Lakh business loan, check the lender's Business loan eligibility requirements and keep the necessary documents ready for a smoother application process.

Eligibility Criteria

• Indian citizenship

• At least 21 years old

• Self-employed professional or non-professional

• Business operational for a minimum of 6 months

• CIBIL score of 650 or above

• 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 ₹60 Lakh business loan online on Bajaj Markets through a simple and hassle-free process:

1. Click here to get started

2. Enter your profession, mobile number, and PIN code

3. Review and accept the terms and conditions, then verify your number using OTP

4. Provide the required details, including PAN, date of birth, residential status, employment/business information, and email ID

5. Check the loan offers available based on your profile

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

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

A ₹60 Lakh business loan can provide substantial funding for expansion plans and large-scale business requirements. Here are some common ways businesses use these funds:

• Business Expansion

Open new outlets, enter new markets, or scale operations to support long-term growth.

• Machinery and Equipment Purchase

Invest in advanced machinery, production equipment, or specialised tools to improve efficiency.

• Working Capital Requirements

Manage day-to-day operational expenses, supplier payments, and cash flow gaps.

• Infrastructure Development

Upgrade office spaces, warehouses, manufacturing units, or commercial facilities.

• Inventory Procurement

Purchase inventory in bulk to meet seasonal demand or secure better supplier pricing.

• Technology and Digital Transformation

Implement new software, automation tools, ERP systems, or IT infrastructure upgrades.

• Marketing and Brand Building

Fund large-scale advertising campaigns, product launches, and customer acquisition initiatives.

• Debt Consolidation

Combine existing business liabilities into a single loan to simplify repayments and improve cash flow management.