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Know more about Bajaj Finance Business Loan interest rates, charges, repayment terms, and factors affecting eligibility.
Bajaj Finance Limited offers business loans with interest rates starting from 14% p.a., providing financial support for various business needs. Borrowers can get loans of up to ₹80 Lakhs with a maximum tenure of 96 months. The interest rate on Bajaj Finance Business Loans may depend on factors such as the applicant's credit score, business turnover, loan amount, and repayment capacity.
Here are the details of Bajaj Finance Business Loan interest rates, loan tenure, and loan amount:
Particulars |
Details |
|---|---|
Interest Rate |
14% to 25% p.a. |
Loan Amount |
₹2 Lakhs - ₹80 Lakhs |
Loan Tenure |
12 - 96 months |
Disclaimer: The information provided is for reference only and may vary; please verify with Bajaj Finance for the latest details.
Here are the key details of the fees and charges associated with Bajaj Finance Business Loan:
Particulars |
Details |
|---|---|
Processing Charges |
Up to 4.72% (Inclusive of applicable taxes) of the loan amount |
Document Processing Charges |
₹2360 (Inclusive of applicable taxes) |
Part-prepayment Charges |
|
Loan Foreclosure Charges |
|
Annual Maintenance Charges |
|
Penal Charges |
Delay in payment of instalment(s) shall attract Penal Charges of ₹40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Bounce Charges |
Up to ₹1,500 per bounce Bounce charges apply for dishonoured instruments or non-payment due to mandate rejection or any other reason |
Cooling Period |
Cooling off/Look-up period of one day from the date of disbursement applicable for all digital loans (as per company policy on Cooling off period) |
Broken Period Interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios: Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged: In this scenario, broken period interest is recovered by the following methods:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed. |
Stamp Duty |
As per the laws of the state |
Legal & Incidental Charges |
Recovery of charges |
Flexi Facility Charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to ₹999/- Flexi Hybrid Loan: Based on loan amount:
*The Flexi charges above will be deducted upfront from the loan amount *Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
|
Principal Holiday Facility Fees |
*The above charges are inclusive of applicable taxes & will be deducted upfront from loan amount **(Loan amount includes approved loan amount, Insurance Premium & VAS Charges)
|
*Disclaimer: The mentioned charges are subject to change at the lender's discretion.
Calculating EMI for business loans is easy. Let’s break down the process using an example to see how EMI changes with different repayment tenures.
Consider taking a business loan of ₹10 Lakhs at an annual interest rate of 14%. Here’s how your EMI would vary based on the loan tenure:
Tenure |
Monthly Instalments (EMI) |
Total Interest Amount |
Total Payable Amount |
|---|---|---|---|
3 Years |
₹34,177 |
₹2,30,394 |
₹12,30,394 |
5 Years |
₹23,268 |
₹3,96,095 |
₹13,96,095 |
8 Years |
₹17,371 |
₹6,67,664 |
₹16,67,664 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
The interest rate on a Bajaj Finance business loan is influenced by several factors, which vary based on the borrower's credit and financial profile. Here are the key factors that may impact the rate:
Your credit score indicates your creditworthiness; a higher score (750 or above) could result in a lower interest rate as it reduces the lender's risk perception.
Strong financial statements, including stable revenue and healthy profit margins, demonstrate a business's repayment capacity and can result in more favourable interest rates.
The loan amount requested can influence the rate, as higher loan amounts may sometimes qualify for lower interest rates depending on lender policies.
The tenure, or repayment period, affects the rate—shorter tenures may attract lower interest rates, while longer tenures typically involve higher rates due to increased risk.
The industry and nature of your business determine its risk profile, with stable and established sectors often attracting more competitive interest rates.
Lenders evaluate your financial history, including income stability and repayment behaviour, to assess risk, which directly impacts the interest rate offered.
Applying for a Bajaj Finance business loan through Bajaj Markets is a simple and hassle-free process. Follow these steps to complete your application:
Click on the 'Check Eligibility' button available on the page
Fill in your personal details, such as name, contact information, and income details
From the list of lenders displayed, choose Bajaj Finance as your preferred option
Specify the loan amount you need and select your desired tenure
Review all the details carefully and submit your application
Once submitted, your application will go through a verification process. Bajaj Finance will then contact you to proceed with the next steps.
Foreclosure charges on Bajaj Finance Business Loans can go up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount or the total withdrawable amount, depending on the loan type and as per the lender's policies.
Bounce charges refer to the penalty imposed when a loan instalment payment fails due to reasons like insufficient funds, dishonour of a payment instrument, or issues with payment mandates. For Bajaj Finance Business Loans, bounce charges range between ₹700 and ₹1,200 per instance.
The interest rate on Bajaj Finance Business Loans ranges from 14% to 25% p.a., depending on factors like the borrower's creditworthiness, financial profile, and loan details.
Yes, your credit score plays an important role in determining the interest rate. A higher credit score (such as 750 or above) indicates strong creditworthiness and could help you secure a lower interest rate. Conversely, a lower score may result in higher rates.
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