Are you a self-employed businessman looking to start a new business or expand an existing one? You can now easily get all the financial assistance you require with the Bajaj Finance Business Loan. The loan will help you undertake various business-related operations, take care of working capital requirements, and expand in new markets, among others.
Bajaj Finance Business Loans are collateral-free, which means you do not have to pledge your personal or business assets on the line to get the finance for your business. You can easily apply for and avail of a business loan of up to ₹30 Lakhs! What's more? At Finserv MARKETS, the entire process is online, hassle-free, and can be customised according to your needs and requirements. So why wait? Choose Finserv MARKETS and apply for a Bajaj Finance Business Loan today!
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 Finserv 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 Finserv MARKETS. We trust you!
Range of tenure: With repayment tenures ranging from 12-60 months, choose between short-term or long-term loans.
Bajaj Finance Business Loan interest rates start from 20.5% 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 is up to 2% 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 subjected to a penal interest of up to 2% per month on the overdue EMI in addition to the applicable taxes.
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
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 license, and MAPIN card
Residence Proof: Ration card/telephone bill/lease agreement/electricity bill/passport/trade license/sales tax certificate
Age Proof: Passport, PAN card, Voter’s ID
Copies of IT returns for the last two years
Latest bank statements for the past 6 months
P&L statement and the balance sheet for last two years (audited by a CA)
A passport-size photograph
A business loan calculator is an online tool available on the Finserv 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 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)
‘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.
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 Finserv 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.
Personalized choices for Loans, Cards, Insurance, Investments & UPI Payments along with No Cost EMI offers to shop for a wide range of lifestyle products – discover more on the Finserv MARKETS App.
By availing a Bajaj Finserv Business Loan from Finserv MARKETS, you get benefits like smooth online process, instant approval, zero collateral requirements and rapid loan disbursal.
A Bajaj Finserv Business Loan can be used in purchasing raw-materials, inventory, upgrading the infrastructure, expanding operations, hiring new staff etc.
Yes, you can foreclose your business loan. There are certain fees and processing charges associated with the same.
The tenure of Bajaj Finserv business loan is 1-5 years.
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Business loan can help you realize your dream of taking your business to greater height. I’ve availed loans for small business at Finserv MARKETS a couple of times. The best part is that I did not have to pledge any security while availing the loan amount.
If you are looking to avail a business loan, you must check your business loan eligibility beforehand. I applied for a business loan at Finserv MARKETS, the eligibility criteria was quite simple and the application process was also smooth. I was able to receive the loan amount within 24 hours.
Applying for a business loan at Finserv MARKETS is a simple and quick process. The business loan documents required are minimal, the interest rate offered is attractive and the repayment tenure is also flexible. Happy to have availed business loan at Finserv MARKETS.
With the help of Bajaj finserv business loan I was able to anticipate some of the issues that my business may face. They’ve been extremely supportive and a great resource in providing small business loans services.