✔️How to apply for a term loan from Bajaj Markets?

Following are the steps to follow to apply for a Term Loan: Visit the Bajaj Markets website or download the app. Navigate to the ‘Term Loan’ section and choose an option as per your requirements. Fill in the application form and submit it. Bajaj Markets officials will contact you for completing the further process.

Term Loans for Business

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In this new era, India is witnessing a true boom in the entrepreneurial spirit. However, establishing and administering one's own firm comes with its own set of major obligations. Meeting your company's ever-changing financial demands by acquiring the necessary money is a critical component of business ownership. These financial demands cannot be addressed by the majority of the people through traditional means. As a result, savvy business owners nowadays seek term business loans through reputable lending and financial service platforms. And this is where Bajaj Markets comes into the picture. You get a number of options that are likely to fulfil the demands of any business owner. This loan will provide you with multiple benefits and features. Let’s have a look at those key elements to know about this product.

Term Loans for Business- Features & Benefits

Here are the features & benefits of a Term Loan for business:

Instant Approval: You are not required to wait for days to get the approval on loan.
Quick Disbursal: You will receive your loan amount in your bank account quickly after the approval.
Easy Application Process: You can easily apply online and complete your loan application process within just a few minutes by visiting the website or downloading the app.
Flexible Repayment Tenure: These loans come with a flexible repayment tenure, allowing you to choose the repayment duration at your convenience.
Pre-Approved Offers: You may also check pre-approved offers by providing your contact details on the site.

Term Loans for Business - Eligibility Criteria

In order to avoid rejection, you must fulfil the eligibility criteria that are listed below:

Your minimum age must be 24 years and the maximum age should be 72 years at the time of loan maturity.
You must be an Indian citizen.
Your company must have been in operation for three years.
Your CIBIL score should be 685 or above.

How to Apply for a Term Loan?

Following are the steps to follow to apply for a Term Loan:

Visit the financial institution’s website or download the app.
Navigate to the ‘Term Loan’ section and choose an option as per your requirements.
Fill in the application form and submit it along with the supporting documents.
Following that institution will verify the provided details and contact you for further processing.

Type of Term Loan

Here are the details about the different types of Term Loans:

Short-Term Loans: These loans have a maximum term of five years. Short-Term loans are usually used to cover the day-to-day requirements of the company, manage its working capital needs, and so on.
Long-Term Loans: This loan has a payback duration of more than five years and can extend up to 30 years.

Moreover, these Term loans are classified into two categories:

Secured Loans: Under these kinds of loans, you are required to provide collateral in order to secure a loan.
Unsecured Loans: Unsecured loan means you are not obligated to provide any form of security to receive it.

Need for Term Loans for Business

It is as a solution to this problem that term loans for business have gained popularity among business owners across the country. After all, business owners should be provided with the option to avail business loan on the terms of their own preference. It is keeping this in mind that the Business Loans available on the Bajaj Markets, become an ideal option.

These term loans for business come with fixed, pre-defined business loan terms and rates and offer considerable flexibility to the borrower. They allow the business owner to avail a loan keeping in mind his or her specific business requirements. Moreover, their time-bound small business loan terms also make these loans the right fit for businesses in early stages that are looking to expand.

How Business Loans Can Help Your Company

If you are a business owner looking for a means of stable and flexible financial inflow into your company, a business loan might just be the right option for you. Here is why you should consider getting a business loan:

Freedom of Finances: A business loan, particularly a term business loan, provides you not only the finances you require but also the freedom to spend those finances as you deem fit. Business loans have no influence over how the borrowed amount is spent, whether it be for expansion, raising capital or purchasing new machinery.
Preferable Alternative than Investors: An alternative method of raising capital for businesses is by bringing an investor on-board. However, investors step into businesses with certain expectations and are also entitled to a share of the profit. This is not the case with business loans, as all that is expected from the borrower is repayment. If you invest your loan amount into an investment, you get to keep the entire profits that you reap from it.
Flexibility in Terms: Another advantage of these loans is that you get to choose your own business loan terms as per your requirement - be it long-term or short-term. As long as your funding requirements are well-defined in terms of time, a business loan can be the convenient financial solution you need.

Why Get a Business Loan on Bajaj Markets?

The key to making the most of a business loan is by finding the right product and lender in the market. That is why the Business Loan available on the Bajaj Markets platform is a popular choice among business owners around the country. Here are all the features and benefits that help it stand out from the rest:

Flexible Tenures: As a business owner, you should get to decide the medium or small business loan terms that best work for you. With Business Loans you can avail flexible tenures ranging from 12 to 60 months based on your business requirements.

No Collateral Required: With the Business Loan, you can put your mind at ease as the business loan amount can be availed without placing a valued possession as collateral. The loan is unsecured and requires no guarantor.

Minimal Documentation: As a business owner, you already have a variety of tasks and documents on a regular basis. With the Bajaj Markets, you can avail the Business Loan you seek without having to manage too much paperwork as the documentation required for business loan from you is minimal.

Quick Approval: With the Bajaj Markets platform, your online loan application process is guaranteed to be quick and seamless. On submitting and verifying the required documents, your business loan can be approved in just 3 minutes.

Quick Disbursal: Post approval, the requested business loan amount can reflect in your account in less than 24 hours.

Help your business grow to its potential while enjoying the business loan terms and rates that are best suited for you. With the Business Loan available on the Bajaj Markets platform, you can conveniently avail loan amounts as high as Rs. 50 Lakhs.

Following are the steps to follow to apply for a Term Loan:

Visit the Bajaj Markets website or download the app.
Navigate to the ‘Term Loan’ section and choose an option as per your requirements.
Fill in the application form and submit it.

Bajaj Markets officials will contact you for completing the further process.

No. You are not required to provide any collateral in order to receive this loan.

Loan-to-value (LTV), amortisation time, interest rate, and collateral security requirements are all components of loan structure.

Yes. Under secured loans, you are required to provide collateral in order to get a loan. On the other hand, an unsecured loan means you are not obligated to provide any form of security to receive it.

The repayment tenure of term loans varies across financial institutions.

Regular business loans don’t provide much flexibility such as unsecured loans, longer repayment duration, and so on. On the other hand, securing a term business loan will provide you with all these kinds of benefits.

Term loans for businesses have set, pre-defined loan terms and rates as well as provide the borrower with significant flexibility. They enable the business owner to obtain a loan while keeping his or her individual business requirements in mind. Furthermore, their time-bound small business loan conditions make these loans ideal for early-stage enterprises wanting to expand.

A business owner might wish to secure a regular business loan to meet its requirements, but might not wish to burden himself with long business loan terms. This is especially true if the business loan is secured only to meet an urgent or one-time financial need. When stretched over long durations, business loan repayments can weigh heavily on a company’s financial toll. It might even be counterproductive to the functioning of the business if it is bound by long-term debt and repayments.

Unfortunately, traditional business loans do not offer much flexibility when determining the terms for your business loan. They might also require considerable collateral, extensive paperwork and a long time for processing.