Business Loan in Chennai

Chennai ranks as the 6th most populated metropolitan city and is a major economic centre in India. If you are looking forward to expanding your business in Chennai, it can be highly profitable with the right resources and adequate financing.

Therefore, obtaining a suitable unsecured business loan in Chennai with low interest and charges can help your cause. For this, you can visit an online marketplace like  Bajaj Markets and compare the deals to select the most suitable one for you.

Top Business Loan Providers and Interest Rates in Chennai

Are you looking for a business loan in Chennai with lower processing fees and interest rates? Here is a list of top loan providers for businesses:

Disclaimer: Interest rates and processing fees mentioned here are subject to the regulations of the concerned insurance companies. Please contact your preferred insurer for more details.

Features & Benefits of Business Loans in Chennai

If you apply for a business loan in Chennai, you will get attractive offers and varied features. Here is a list of benefits on business loans in Chennai:

1. Tenure flexibility: If you have flexible repayment tenure, you can focus more on the expansion of your business without being burdened. Several lenders give you the advantage of tenure flexibility as per your needs. 

2. No requirement for collateral: Multiple business loan providers let you secure business credit without having to pledge any of your assets. Therefore, you can apply and receive an unsecured business loan in Chennai with zero collateral. 

3. Less documentation required: Applying for loans can be a long-drawn process, with multiple document verifications and processing involved. However, on  Bajaj Markets, you can secure a loan with only a few basic documents. 

4. Minimal approval time: When applying for a business loan on  Bajaj Markets, you do not have to wait around for an indefinite time to get approved. 

5. Faster disbursal time: Furthermore, after your loan gets approved, you do not have to sit and wait for another week. Your account will get credited typically within 3 days with the loan amount.

6. No hidden costs: Lenders in Chennai offer you reliable financing through an online application where the entire process is transparent and includes no hidden costs. 

Eligibility for Business Loan in Chennai

Applying for business loans in Chennai is easy with  Bajaj Markets. However, to secure any loan, you need to meet certain criteria and eligibility.  Please go through the eligibility criteria before applying for a business loan:

• Age: To apply for Business Loan in Chennai with  Bajaj Markets, your minimum age limit must be between 26 and 66 years. Note that your age should not exceed 66 years at the time of loan maturity. 

• Nationality: You must hold Indian citizenship to apply for a business loan in Chennai.

• Working status: Your working status must be self-employed.

• Business turnover: Your business must have an annual turnover of Rs. 10 Lakhs.

• Business profit: Your enterprise must be able to show a steady profit record for a minimum of 2 years.

• Business vintage: Your business should be at least 3 years old and operational to secure financing with applicable documents.

• CIBIL Score: Your credit history must be able to show a minimum of 685 CIBIL score.

• Others: You must have a clear history of regular tax payments with no defaulting.  You must show Income Tax Returns for a minimum of 2 years. 

Based on the documents you submit, your eligibility will decide the amount of loan you can secure, along with exciting offers. Moreover, you can get up to Rs. 50 Lakhs as credit hassle-free in just a few days if you meet all the criteria.

Documents Required for Business Loan in Chennai

After you meet the necessary eligibility criteria, you need to present the following documents to obtain a business loan seamlessly:

• Application form: You can fill out the online application form with the necessary details and a passport photograph. 

• Identity proof: You can show your PAN card, Passport, Voter ID Card, or driving licence as identity proof.

• Proof of address: Your address proof can include Aadhaar Card, Ration Card, Voter ID Card, Telephone Bill, Electricity Bill, or Lease Agreement. 

• Age proof: Proof of Age can include PAN Card, Passport, or Voter ID Card.

• Financial papers: This includes documents of Income Tax Returns for the last two years, the last six months' bank statements, audited balance sheets, and P&L statements for the last two years. 

How to Apply for Business Loan in Chennai?

 Bajaj Markets not only helps you secure a fair credit for your business expansion but lets you apply in a smooth fashion. So, if your business meets the criteria mentioned above and you feel this could be the right financial opportunity, you can apply for a loan using the following steps:

• Step 1: Visit the Bajaj Markets website.

• Step 2: Opt for a business loan via online application.

• Step 3: Fill out the online application form with the necessary information. This includes your personal details, contact information, business details, etc. 

• Step 4: Select the loan that best suits your requirements and fill out the details. 

• Step 5: Select from the flexible repayment tenure and your desired loan amount.

• Step 6: Once your application is verified, it takes only about 2 minutes to get approved. Subsequently, you can see the loan amount reflected in your account without any delays.

Applying for a business loan in Chennai has never been so easy. You can secure credit and get financed within a day with just a few clicks. Moreover, lenders on  Bajaj Markets offer significant amounts as credit, enabling you to fulfil your business plans worry-free.