A Business Loan is an unsecured loan that can be used for a new or existing enterprise. Whether it is expanding your business to new locations, purchasing advanced machinery, hiring new staff, or clearing all your debts, a Business Loan is a great choice. Today, many banks and non-banking financial companies (NBFC) today offer business loans at competitive interest rates. If you are eligible and have the required documents in place, you can enjoy the best-curated deals on Business Loans.
Our Partners |
Interest Rate Range |
18% onwards |
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14% onwards |
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15% onwards |
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18% onwards |
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21% onwards |
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12% onwards |
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16.50% onwards |
Bajaj Markets offers access to some of the most lucrative benefits on business loans that include:
Access to a High and Affordable Capital: Bajaj Markets provides access to high-value business loans that range up to ₹75 Lakhs. Moreover, the low interest rates make business loans the perfect choice for short-term, intermediate-term, and long-term funding requirements.
Flexi Loan Facility: The business loan lets you withdraw funds as per your needs and preferences. Here, the interest is only charged on the withdrawn amount.
Hassle-Free Unsecured Loans: These unsecured business loans are approved in just a few hours, depending on your application.
No Collateral or Security Needed: The business loan from Bajaj Markets is offered collateral-free. This essentially means that you don’t have to pledge any asset to secure your loan. The collateral-free loan enables you to get funding with much ease.
Exciting Offers: Personalized pre-approved offers and value-added services could make your experience of availing of a business loan even more amazing.
To be eligible for a business loan, you must meet the following conditions:
You must be a self-employed individual
Self-employed professionals include doctors, chartered accountants, etc., and self-employed non-professionals include traders, manufacturers
You must be between 25-65 years of age
Business units such as partnerships, limited liability partnerships, and private limited companies can apply for a business loan
You must have a minimum business experience of 3 years in the current business and at least 5 years of business experience on the whole
The minimum annual income (ITR) must be ₹1.5 lakh per annum
Bajaj Markets provides access to well-curated new business loans that attract a nominal rate of interest. Thus, you enjoy affordable EMIs throughout the loan tenure. Follow the listed table to view the interest rate and charges applicable on a business loan:
Interest Rate |
Starting from 12% p.a. |
Processing Fee |
2-3% of Loan amount |
Loan tenure |
Up to 60 months |
Pre-closure Charges |
4% of principal outstanding amount + GST* |
Eligibility Criteria |
>₹90,000 turnover for 3 months |
Loan Amount |
₹25,000 to ₹75 Lakhs |
Instalments |
Flexible Monthly/Bi-weekly |
Applying for a new business loan online on Bajaj Markets is now really simple. Just follow these steps:
Online Form Filling: Fill in your personal and business details.
Select Your Lending Partner: From the list of loan offers, select a business loan from your preferred partner.
Specify Loan Details: Choose your preferred loan amount and repayment tenure.
Required Documents: Upload the scanned copies of all the required documents.
Approval & Disbursal: Submit your application; post verification and approval, the money would be disbursed to your account.
Below we have provided a list of documents required to apply for small business loans in India.
Identity Proof: PAN card/passport/driving license/Voter’s ID
Address Proof: Aadhaar card/passport/utility bills/lease agreement
Bank statement for last 6 months
ITR form in addition with certified copies with details such as income computation, balance sheet, and Profit and Loss (P&L) statement for the last 2 years
Sole Proprietorship Declaration or authenticated copy of Partnership Deed
Certified copy of Memorandum and Articles of Association
As per the business needs and requirements, various types of business loans are available.
1. Start-up Business Loans: As an aspiring entrepreneur, if you want to start your business venture and need financial assistance, you can always apply for a startup business loan. You can also avail of this loan if you wish to expand the operations of your start-up enterprise.
2. Working Capital Loan : With a working capital loan, self-employed individuals can manage the daily expenditures of the business. This includes managing steady cash flow, purchasing machinery, and paying short-term debt. In a nutshell, availing this loan will help you take care of finances associated with day-to-day operations.
3. Machinery Loans : A machinery loan can help you with expenses related to your business equipment. With this loan, you can purchase new machinery, upgrade existing ones, or even repair faulty equipment.
4. SME and MSME Loans : With the help of an MSME loan, you can finance business requirements like revamping your company’s infrastructure, purchasing machinery or raw materials, or expanding your business operations in general.
5. Business Loan for Women : Most financial institutions offer business loans for women that can help female entrepreneurs become self-sufficient and enable the growth of their enterprises.
6. Term Loan : A term loan is a popular form of business finance offered by leading lenders across the country. Depending upon the lender's terms, it could either be secured or unsecured. The loan is typically provided for a period that ranges between 1 to 20 years. The amount offered is majorly driven by the credit history of the business.
Business loan EMI calculation can be done using the following basic formula, i.e.
E = P x r x (1+r)n/(1+r)n-1
Here,
‘E’ stands for EMI
‘P’ represents the loan amount
‘r’ stands for the monthly interest rate and
‘n’ represents the duration of the loan
On Bajaj Markets, you can find a business loan EMI calculator. This tool enables you to calculate the EMI amount through the web interface. This EMI calculator allows you to understand the breakdown of each component, including the interest and principal loan amount. Simply put, you can effectively undertake your financial planning based on the computations.
Here are some factors that you must consider when getting a business loan online:
Dos |
Don’ts |
Stay prepared with your documents and business plan |
Make multiple loan applications |
Conduct a comparative lender review |
Fall prey to low cost loans without reading the terms and conditions |
Borrow only the required amount |
Create a real business budget |
Estimate your expenses appropriately |
Pay off your loan too quickly |
A business loan is borrowed capital that can be used to support an existing or new business. The funds can be used to increase employee strength, expand the enterprise, purchase equipment, build working capital, and more.
To get a business loan, you must have a credit score of at least 685. The higher your score, the better are your chances of getting a business loan at negotiable rates.
The maximum tenor offered for a business loan is typically 60 months. However, this aspect depends upon the lender and your loan profile.
A business loan is an unsecured loan that can be used to cover the expenses involved in running/growing a business. With most lenders, a business loan can be availed without pledging an asset as collateral.
Yes, a business loan is unsecured or collateral-free. This essentially means that you can acquire the business loan without having to pledge an asset as security.