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BAJAJ FINSERV DIRECT LIMITED

Business Loan Eligibility Calculator

To understand the loan amount your current financial profile makes you eligible for, consider using the business loan eligibility calculator. Simply provide your income and monthly obligations to the calculator and get an estimate of the loan amount you may qualify for. This helps you understand the credit options available to you and plan accordingly.

Your Business Loan EMI

₹ 3,114

Total Interest Amount

₹ 86,815

Principal Amount

₹ 1,00,000

Total Payable Amount

₹ 1,86,815

Loan Amount

Interest Rate

- +

Tenure

- +

Check Offer

You can also make instant comparisons between loan offers from multiple Business Loan providers on Bajaj Markets.

How to Use The Business Loan Eligibility Calculator?

To calculate the eligibility of your business loan you simply need to enter two essential details. These are:

Net Monthly Income - This is your earnings after the deduction of tax, provident fund contributions, etc.
Monthly Expenses - This includes all your existing loan EMIs, credit card dues, etc.

These details help calculate your debt-to-income ratio, which is the basis for your loan eligibility. The calculator uses a simple algorithm to compute the amount you can borrow with a business loan, which is then displayed on the screen.

How to Improve Your Eligibility for Business Loan?

Here are some things you can do to enhance your eligibility for a business loan:

Provide Error-free Documentation: Most times, loan pleas are rejected due to missing or fake documents. You must ensure that you submit all the listed documents at the time of application, and this will ensure that you enjoy a smooth borrowing experience.

Make Regular Tax Payments: Your tax history is important, and defaulting on tax payments can lead to loan rejections. This makes it essential for you to make your tax payments on time.
Ensure Business Profitability: Lenders are more comfortable with businesses that are profitable and have a high turnover. The lender is likely to reject the loan application if the business suffers losses. You should seek a secured loan in case of an unstable business record.
Plan Future Financial Prospects: Lenders extend loans to businesses that are likely to remain stable and generate profits. Thus, it is essential to submit a complete business plan which consists of the revenue forecasts and the financial trajectory of the firm. This assures the lender of a stable income in the future, leading to regular repayments. If the business is volatile, the lender may reject the loan application. However, in this case, if the application is approved, the interest rate may be higher.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Frequently Asked Questions

How does your income affect your business loan eligibility?

High income assures the lender of your strong repayment capacity. This is why it has a heavy influence on your loan eligibility.

What is the minimum eligible age required to apply for a business loan?

The minimum age required to apply for a business loan is 21 years.

What is the minimum salary required to apply for a business loan?

Instead of the salary, the turnover of the business is considered by lenders when assessing your eligibility for a business loan. Usually, loan providers require the annual turnover of your business to be about ₹12 Lakhs per annum. However, this requirement may vary depending on the lender you choose. So, ensure to check the income requirements with your lender prior to applying for the loan.