Bajaj Finance Business Loan

Here is all you need to know about Bajaj Finance Business Loan

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✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now! Apply Now

Upscale your company with the help of a Bajaj Finance Business Loan of up to ₹30 Lakhs, now available on bajajfinservmarkets.in. You can enjoy affordable interest rates starting from 9.75% p.a. and repay the loan over tenures of up to 6 years. Furthermore, you can choose between term loans and flexi hybrid loans, as per your needs and financial situation.

Interest Rates and Charges

Here are the interest rates and charges applicable to these business loans offered by Bajaj Finance.

Interest Rate	9.75% to 30% p.a.
Part-prepayment	Up to 4.72% (Inclusive of applicable taxes)
BPI (Broken Period Interest)	Added to first instalment amount
Processing Fees	Up to 3.54% (Inclusive of applicable taxes) of the loan amount
Foreclosure Charges	Up to 4.72% (Inclusive of applicable taxes)
Annual Maintenance Charges	Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial loan tenure Up to 0.413% (inclusive of applicable taxes) of total withdrawable amount during subsequent loan tenure
Bounce Charges	₹1500 per bounce
Penal Charge	Delay in payment of instalment(s) shall attract Penal Charge of ₹24 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount
Instalment Default Charge	₹450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered
Stamp Duty	As per state laws
Flexi Fee	Term Loan - Not applicable Flexi Hybrid Loan - Up to ₹6,499 for loan amount up to ₹10,00,000 ₹8,999 for loan amount ranging from ₹10,00,000 to ₹15,00,000 ₹13,999 for loan amount ranging from ₹5,00,000 to ₹25,00,000 ₹16,999 for loan amount above ₹25,00,000
Cash Collection Handling Charges	₹177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs
Cash Deposit Charges	Customers will incur a cash deposition charge of ₹50 (Inclusive of Applicable taxes) when making cash payments at our branch offices
PG Facility Charges	₹11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties

*Disclaimer: The details mentioned above are subject to changes as per the terms and policies of the lender.

Features and Benefits

Instant Loans

Get loan amounts as high as ₹30 Lakhs instantly with this loan

Flexible Tenure

Repay the loan over flexible repayment tenures ranging from 1 to 6 years

Competitive Interest Rates

Benefit from affordable interest rates starting from just 9.75% p.a.

Flexi Hybrid Loan Facility

The Flexi Hybrid Loan feature allows you to only withdraw the amount that you need for your business. Here, the interest is calculated only on the amount withdrawn instead of the entire credit limit sanctioned.

Zero Collateral

No need to submit any of your assets as collateral when applying for this loan

Eligibility Criteria and Documents Required

Fulfil the requirements listed below to be eligible for a business loan from Bajaj Finance:

You must fall under the age bracket of 24 to 66 years
The business must have 3 years of vintage
You must be a self-employed individual
You must be a citizen of India

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

1. KYC Documents

Passport
Driving License
Voter ID
Job Card issued by NREGA duly signed by an officer of the State Government
Letter issued by the National Population Register containing details of name
Address of the customer having photograph of the card holder
Proof of possession of Aadhaar Number: Aadhaar letter, Aadhaar letter downloaded from UIDAI website, or offline verification of Aadhaar (a XML document generated by the UIDAI)

2. Financial Documents

Copies of ITR filings of the last 2 years
Latest bank statements of the past 6 months
Profit and Loss statement and the balance sheet for last two years (audited by a CA)

3. Proof of business ownership

For sole proprietors

Sole proprietorship deed or registration document
PAN card
GST returns
Income Tax Return (ITR) filngs

For partnership firms or private limited companies

Partnership agreement (for partnership firms)
Incorporation certificate, memorandum and articles of association (for private limited companies)
ITR filings
GST returns
Individuals proofs of partners or directors of the company

How to Apply?

Follow these simple steps to apply for a Bajaj Finance Business Loan on Bajaj Markets:

Click on the ‘Apply Now’ option on this page
Enter your personal and business details
Select ‘Bajaj Finance’ from the list of lenders
Choose the preferred tenure and the required loan amount
Click on ‘Submit’
After this, a representative will reach out to you to further process your loan application.

Where can I use the amount borrowed with a Bajaj Finance Business Loan?

You can use the borrowed amount to purchase raw-materials and inventory, upgrade infrastructure, expand operations, hire new staff, and much more.

Is a foreclosure or prepayment facility available with these business loans?

Yes, you can foreclose your business loan. However, there are certain fees and processing charges associated with the same.

What is the tenure offered on this business loan?

The tenure of these business loans range from 1 to 6 years.

What is the maximum amount I can borrow with a business loan from Bajaj Finance?

You can borrow up to ₹30 Lakhs with the help of a Bajaj Finance Business Loan. However, the loan amount offered to you will depend on your eligibility.

Do I need to submit any collateral for these business loans?

No. You don’t have to pledge any asset as collateral for securing this business loan.

What is cooling-off or look-up period?

If you decide to cancel or exit the loan, you have a 3-day window from the loan booking date to initiate the cancellation. During this cooling-off period, you can review the loan's rates, terms, and conditions.

If you wish to cancel the loan, you are obligated to repay the principal amount and the Annual Percentage Rate (APR) charged without incurring any penalties. Once this period ends, standard prepayment charges will apply in accordance with RBI guidelines.

To cancel the loan within the cooling-off/look-up period, visit the customer portal at https://www.bajajfinservmarkets.in/custaccount/#/contact, contact the customer service at 8698010101, or send a cancellation request to BFL at wecare@bajajfinserv.in. Further information can be found at https://www.bajajfinserv.in/.