Introduction
Bajaj Finserv offers business loans with competitive interest rates starting from 9.75% p.a., providing flexible loan tenures of up to 84 months and loan amounts of up to Rs. 50 lakh. These loans are designed to meet the financial needs of small and medium-sized businesses for purposes such as business expansion, working capital, equipment purchase, and more.
Bajaj Finserv business loans come with minimal documentation, quick approval, and no collateral requirements. Additionally, the lender offers a Flexi Loan facility, allowing businesses to borrow as needed and repay in convenient EMIs, ensuring financial flexibility for business growth.
Highlights of Bajaj Finserv Business Loan
| Feature | Details |
| Interest Rate | Starting from 13.5% p.a. |
| Loan Amount (LTV Ratio) | Up to 75% of property value or revenue |
| Loan Tenure | Up to 5 years |
| Processing Charges | Up to 2% of the loan amount |
| Minimum Monthly Income | ₹50,000, varies by location and loan type |
Types of Business Loans
| Loan Type | Purpose | LTV Ratio | Tenure | Special Features | Interest Rate | Eligibility Criteria | Collateral Required |
| Business Term Loan | Business expansion, capital needs | Up to 75% | Up to 5 years | Flexible repayment options | 13.5% – 15.75% p.a. | Min. 3 years in operation | Yes |
| Working Capital Loan | Short-term operational expenses | Up to 70% | 12 months, renewable | Overdraft, quick renewals | 13.75% – 16.0% p.a. | Good credit score | No |
| Equipment Financing | Purchase of machinery, equipment | Up to 70% | 3 – 5 years | Customizable loan structure | 13.75% – 15.5% p.a. | Proven business track record | Yes |
Table of Contents
Eligibility Criteria
| Criteria | Details |
| Minimum Business Operation Period | 3 years |
| Positive Cash Profits | Last 2 years |
| Required Documentation | IT returns, balance sheets, bank statements |
| Other Criteria | Good credit score, minimum turnover of ₹50 lakhs |
Loan Features & Benefits
- Range of loan amounts: From ₹10 lakhs up to ₹15 crores.
- Collateral requirements: Depending on the loan type, collateral may or may not be required.
- Minimal documentation: Streamlined process with minimal paperwork.
- Quick approval: Loans are approved and disbursed within a few working days.
- Flexible repayment options: Choose a repayment plan that aligns with your business cash flow.
Fees and Charges
| Requirement | Salaried | Self-Employed |
| Processing Fee | ₹10,000 to ₹25,000 | ₹15,000 to ₹30,000 |
| Prepayment Charges | Up to 4% of principal | Up to 4% of principal |
| Late Payment Fee | ₹500 to ₹1,000 per instance | ₹750 to ₹1,250 per instance |
| Documentation Charges | As applicable | As applicable |
| Bounce Charges | ₹750 per instance | ₹1,000 per instance |
Required Documents
- Identity Proof: PAN Card, Aadhaar.
- Address Proof: Passport, Utility Bill.
- Business Continuity Proof: GST Registration, Business License.
- Financial Documents: IT returns, bank statements for the last 2 years, audited balance sheets.
EMI Calculator
Use Bajaj Finserv’s online EMI calculator to estimate your monthly payments. Simply enter the loan amount, interest rate, and tenure to calculate your EMI instantly.
Application Process
- Steps to Apply: You can apply online through the Bajaj Finserv website or visit a branch for offline applications.
- Expected Timeline: Loan approvals typically take 4-8 working days after submitting all required documents.
- Customer Support: Dedicated support teams are available to assist you throughout the application process and provide updates on your loan status.
Comparison with Other Banks/NBFCs
| Bank | Interest Rate | Processing Fees | Loan Tenure | Prepayment Charges | Collateral Requirement | Approval Time | Special Features |
| SBI Bank | 8.5% p.a. onwards | 0.35% of the loan amount | Up to 15 years | 3% of the principal | Required for large amounts | 7-10 days | Easy overdraft facility |
| HDFC Bank | 8.7% p.a. onwards | Up to 2% of the loan amount | Up to 10 years | 4% of the principal | Usually required | 5-7 days | Pre-approved offers for customers |
| ICICI Bank | 8.85% p.a. onwards | 0.5% – 1% of the loan amount | Up to 12 years | 3% of the principal | Required | 5-7 days | Customizable loan structure |
| Kotak Mahindra Bank | 8.70% p.a. onwards | Up to 1% of the loan amount | Up to 25 years | Up to 5% of the principal | Required | 7-10 days | Doorstep service |
| Punjab National Bank | 8.40% – 12.10% p.a. | 0.5% – 1% of the loan amount | Up to 15 years | 2% of the principal | Required | 8-10 days | Quick processing time |
| Bajaj Housing Finance | 8.50% p.a. onwards | Up to 1.5% of the loan amount | Up to 15 years | 2% of the principal | Required | 5-7 days | Quick loan approval |
| Axis Bank | 8.75%-13.30% p.a. | Up to 2% of the loan amount | Up to 10 years | 3% of the principal | Required | 5-7 days | Flexible repayment options |
| Bank of India | 8.4% p.a onwards | 1% of the loan amount | Up to 15 years | 3% of the principal | Required | 7-10 days | Easy documentation |
| TATA Capital | 8.75% p.a. onwards | Up to 1.5% of the loan amount | Up to 12 years | 4% of the principal | Usually not required | 5-7 days | No collateral required |
FAQs
1. What are the eligibility criteria for Bajaj Finserv Business Loans?
The eligibility criteria include a minimum of 3 years of business operations, a positive profit record, and a good credit score.
2. Is collateral required for all types of business loans?
Collateral is required for certain loans, such as Term Loans and Equipment Financing, but not for Working Capital Loans.
3. How long does it take to get a business loan approved from Bajaj Finserv?
The approval process typically takes 4-8 working days after submitting all required documents.
4.Can startups apply for business loans with Bajaj Finserv?
Bajaj Finserv business loans are generally offered to businesses with at least 3 years of operation. However, there may be special products available for startups based on other eligibility criteria.
5. What documents are required to apply for a Bajaj Finserv business loan?
You will need to provide identity proof, address proof, business continuity proof (e.g., GST registration), and financial documents such as IT returns and bank statements.
