Bajaj Finance Business Loan

Bajaj Finance Business Loans are collateral-free, which means you do not have to pledge your personal or business assets to obtain the financing required for your business. You can easily apply for and avail of a business loan of up to ₹30 Lakhs! What's more, at Bajaj Markets, the entire process to apply for a business loan is online, hassle-free, and can be customised according to your needs and requirements. So why wait? Choose Bajaj Markets and apply for a Bajaj Finance Business Loan today!

How to Apply for Bajaj Finance Business Loan

Applying for a Bajaj Finance business loan is very simple and shouldn’t take more than a few minutes. Here’s a quick step-by-step guide that you can follow. 

• Step 1: Visit the website of Bajaj Markets. 

• Step 2: Click on the ‘Loans’ option on the homepage. 

• Step 3: Under ‘Business Loan’, click on the ‘Apply for a Business Loan’ option. 

• Step 4: Fill the application form by entering all the details listed on it. 

• Step 5: Then, click on the ‘Check Your Offer’ button. 

• Step 6: Choose Bajaj Finance from the list of lending partners. 

• Step 7: Enter the amount of loan, the repayment tenure, and other details.

• Step 8: Submit the application. 

Bajaj Finance Business Loan Interest Rate and Charges

Bajaj Finance Business Loan interest rates start from 18% per annum. However, we do not have any hidden charges as we believe in complete transparency. The processing fee for a Bajaj Finance Business Loan can go up to 4% of the approved loan amount. On the other hand, the foreclosure charges tend to amount to 4% of the outstanding loan amount and are accompanied by applicable taxes. In case you are not able to pay your loan on time, you will be liable to pay a penal interest at rates going up to 2% per month on the overdue EMI.

At Bajaj Markets, you can get Bajaj Finance Business Loans at affordable interest rates and low processing charges. Take a look at the business loan interest rates and the accompanying charges in the table given below.

Factors That Determine Your Business Loan Interest Rate

• Credit Score

A great score can improve your chances of availing a loan at a competitive interest rate. High credit scores can also make the process of approval smoother and quicker.

• Business Experience

This essentially refers to the amount of experience that you have in your chosen area of business. The higher the experience, the easier it will be to avail a business loan at an affordable interest rate.

• Monthly Revenue of your Business

Regular and stable income has a strong bearing on your ability to repay the business loan. Lenders typically look at your business income before deciding the interest rate at which to offer you business financing.

• Collateral

This means the security that you are willing to pledge for availing the business loan. Collateral such as home equity, deposits, equipment and investment in real estate can be pledged as a security. The higher the value of the secured asset, the higher the chances of you getting the business loan at an affordable interest rate. 

Features and Benefits of  Bajaj Finance Business Loan

• Instant Online Loans: Whatever your need be, get business loans online for self-employed individuals of up to ₹30 Lakhs to live your dream!

• Exclusive Offerings: The lending partners of Bajaj Markets offer tailor-made loans to meet all your financial requirements.

• Zero Collateral: No need for a guarantor when you apply for a Business Loan with Bajaj Markets. We trust you

• Range of Tenure: With repayment tenures ranging from 12-72 months, choose between short-term or long-term loans.

• Competitive Rate of Interest: The rate of interest on Bajaj Finance business loans start as low as 18% per annum, making it one of the most competitive in the market. 

• Easy Access to Information: You can quickly get details of your loan and retrieve periodic loan statements by logging into your online account whenever you wish.  

• Flexi Loan Feature: The flexi loan feature allows you to only withdraw the amount that you need for your business. The interest is also only calculated on the amount withdrawn instead of the entire credit limit assigned to you. 

Bajaj Finance Business Loan Eligibility

The following eligibility criteria must be fulfilled to avail of a business loan.

• You must be a citizen of India

• You must be a self-employed individual

• You must be between 26 and 66 years of age to apply for a Business Loan

• You must have 3 years of business vintage

• Income tax return pertaining to your business for at least 2 years is also required

Bajaj Finance Business Loan Documents

The documents that you will need to submit while applying for a business loan are as follows:

• Identity Proof: Passport, PAN card, Voter’s ID, driving licence, and MAPIN card

• Residence Proof: Ration card/telephone bill/lease agreement/electricity bill/passport/trade licence/sales tax certificate

• Age Proof: Passport, PAN card, Voter’s ID

• Financial Documents

1. Copies of IT returns for the last two years 

2. Latest bank statements for the past 6 months

3. P&L statement and the balance sheet for last two years (audited by a CA)

• Proof of business ownership  

1.  In the case of sole proprietors 

a) Sole proprietorship deed or registration document 

b) PAN card

c) GST returns

d) Income Tax returns

2. In the case of partnership firms or private limited companies

a) Partnership agreement (in the case of partnership firms)

b) Incorporation certificate, memorandum and articles of association (in the case of private limited companies) 

c) Income Tax returns

d) GST returns

e) Individuals proofs of partners or directors of the company 

• A passport-size photograph

Bajaj Finance Business Loan EMI Calculator

A business loan calculator is an online tool available on the Bajaj Markets portal. What it will essentially do is that it will ask you to provide certain inputs so that the built-in calculator tool can compute the exact amount you need to shell out to service the loan EMI obligation. The details that must be entered are:

• Loan Amount: This is the principal loan amount that you wish to avail.

• Rate of Interest: This is the expected interest rate which you must pay to service the loan. It is basically the cost of borrowing the loan.

• Loan Repayment Tenure: As the name itself indicates, this is the timeframe in which you will be required to repay your Bajaj Finance Business Loan.

In order to help you understand how the Bajaj Business Loan EMI calculator works, let us look at an example. Assume you wish to borrow up to ₹20 Lakhs as a business loan from a bank/NBFC at a preferred interest rate of 18% p.a. for a tenure of 10 years. 

In order to calculate your EMI amount manually, you can use the below formula:

E = P*r*(1+r)^n / ((1+r)^n-1)

where, 

• ‘E’ is the EMI amount,

• ‘P’ is the Principal Loan Amount, 

• ‘r' is the applicable rate of interest calculated every month, and

• ‘n’ is the tenure or duration of the loan

 Your EMI in such a scenario will be:

₹25 lakh*0.010*(1+0.015)^120/((1+0.015)^120-1))= ₹49,308 per month

This implies that in a span of 10 years, you will end up paying ₹59,16,960, of which 

₹34,16,960 will be the total amount that the borrower will pay as interest.

Types of Business Loan at Bajaj Markets

• Start-up Business Loan: If you are a budding entrepreneur, you can avail a start-up business loan to start a new business or expand the current operations of your new business. To apply, all you will have to do is visit our ‘Startup Loan’ section to know more about the exciting features and benefits of applying for an instant business loan through Bajaj Markets.

• Mudra Loan: The Pradhan Mantri Mudra Yojana (PMMY) provides Business Finance to MSME owners so that they can take care of capital expenses and/or operating costs. The Mudra loan scheme has three categories: Shishu, Kishore, and Tarun, which are given to SME owners depending on their scale of operations and business goals. These loans range from ₹50,000 to 10,00,000.

• Business Loan for Women: With business loans for women, female entrepreneurs can support themselves financially and ensure their enterprises’ growth. In order to apply for the same, you can visit the ‘Business loan for Women’ section and also know about the benefits that can be availed with a small business loan.

• Business Term Loan: A business term loan can be used to finance high-cost investments such as the expansion of your business or purchasing essentials like new machinery. These loans are given out so that your business keeps running smoothly.

• Working Capital Loan: Avail this loan to finance the daily expenditures that your business might encounter. Different businesses take working capital loans for a variety of purposes. Working capital finance frees up cash to help the business grow. It is often used for specific growth projects, such as taking on a bigger contract or investing in a new market. Some businesses need it for the seasonal demands based on their industry type or even for managing the credit cycle. 

• MSME Loan: You can also avail an MSME/SME loan in order to meet the working capital requirements of your business. An MSME loan can be used for several purposes such as upgrading your company’s infrastructure, buying/repairing machinery, and purchasing raw materials, among others.

Get Business Loan Instantly at Bajaj Markets App

Personalised choices for Loans, Cards, Insurance, Investments and UPI Payments along with No Cost EMI offers to shop for a wide range of lifestyle products – discover more on the Bajaj Markets App.

Bajaj Finserv Business Loan Customer Care

In the case of any queries or grievances regarding Bajaj Finance business loans, you can get in touch with the customer care cell by calling the following number - 020 3957 5152. Alternatively, you can also send an SMS by typing out ‘HELP’ and sending it to +91 92275 64444. 

You can also log into the Bajaj Finserv Customer Portal to raise a service request or to lodge your grievance. And finally, you could also visit a Bajaj Finserv branch nearest to you to get your queries or grievances addressed.