Bajaj Finserv Business Loan Key Features
|Bajaj Finserv Interest Rate||18%|
|Tenure||From 12 months to 48 months|
|Lowest EMI per lakh||₹ 2,938|
|Loan Amount||Min ₹ 5 Lakh and Max ₹ 30 Lakh|
|Part Prepayment, Charges||Allowed after 1 EMI’s, 2%|
|Early Foreclosure, Charges||Allowed after 1 EMI’s, 4%|
|Bajaj Finserv Processing Charges||Up to 2% of the loan amount|
|Repayment Period||Secured Term /Demand loan repayable in a maximum of 7 years|
|Prepayment Condition||No pre-payment permitted until repayment of 6 EMIs|
|Collateral||Equitable mortgage of land/building, Term Deposit, LIC policy, National Savings Certificates|
Interest Rate, Fees, and Charges (Self Employed Non-Professional)
|Interest Rate Charges||18%|
|Loan Processing Charges||2% of the loan amount + GST as applicable|
|Prepayment||No pre-payment permitted until repayment of 6 EMIs|
|No Due Certificate / No Objection Certificate (NOC)||NIL|
|Duplicate no due certificate / NOC||NIL|
|Solvency Certificate||Not applicable|
|Charges for late payment of EMI||@ 24% p.a.|
|Charges for changing from fixed to floating rate of interest||Not applicable|
|Charges for changing from floating to a fixed rate of interest||Not applicable|
|Stamp Duty & other statutory charges||As per applicable laws of the state|
|Credit assessment charges||Not applicable|
|Nonstandard repayment charges||Not applicable|
|Cheque swapping charges||₹ 500/-|
|Amortization Schedule charges||₹ 200/-|
|Loan cancellation charges||NIL (However Interest would be charged for the interim period between the date of loan disbursement and date of loan cancellation and processing fees would be retained)|
|Cheque Bounce Charges||₹ 550/- per cheque bounce|
|Legal / incidental charges||At actual|
|CIBIL Report Copy Charges||₹ 50 Per Copy|
Interest Rate, Fees, and Charges (Self Employed Professional)
TABLE WILL APPEAR
Advantages of Bajaj Finserv Business Loan
Bajaj Finserv provides its customers with customized products so that it fits the requirements of their specific customer segments. Bajaj Finserv also offers:
- No interference by the bank with how the applicant’s business is running.
- Unlimited free ATM transactions at Tamilnad Mercantile Bank and another bank VISA ATMs in India.
- No charges on NEFT/RTGS transactions and demand drafts.
- Convenient and easy to access funds once the loan gets approved.
- Reimbursement account – a separate current account for seamless reimbursement management.
- Staff assisted the digital account opening with Instant Welcome Packs (IWP).
- Reasonable interest rates to applicants with a rich relationship with the bank.
- Preferential rates on Personal and Home Loans.
Bajaj Finserv Business Loan Eligibility Criteria
|Age||25 to 65 years|
|Minimum Turnover||₹ 12 Lakh|
|Business Existence (in months)||36 months|
|ITR (months)||6 months|
|Loan Amount||₹ 2 Lakh to ₹ 30 Lakhs|
|Loan Tenure||48 months|
|Owned House or Place of Work||Not Required|
|CIBIL Score||750 and above|
Bajaj Finserv Business Loan Documents Required
- Copy of Bank Statement
- Latest ITR and statement of computation of Income for the last 2 yrs.
- Proof of continuity of business
- Other Mandatory Documents that are Sole Proprietorship Declaration, Certified copy of Memorandum & Articles of Association certified by a director
- Original Board resolution
- Financials audited/ certified by a CA
- Valid Proof for Identity: Passport / Ration card / Electricity Bill/ Lease agreement / Sales Tax certificate/Trade licence / Voter ID card / Passport / Driving License/ PAN Card and MAPIN card
- Residence Proof: Lease agreement/ Electricity Bill / Passport / Trade license / Sales Tax Certificate
- Age Proof: Passport / PAN card / Voter’s identity card
- Financial Documents: Copy of IT returns for the last two years and the latest Bank statements for 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A.
* (If Pvt ltd Co. Then Partnership Authorization Letter/ co-borrower if partnership firm just a co-borrower
Self Employed (Private Ltd. Co. and Partnership Firms)
- Identity proof of the company: PAN ID /VAT /Service tax / Sales tax /Excise registration, / IT return of the concern/ Electricity bill /Water bill/ Registration under Shops and Establishment Act/Municipal tax bill in the name of the concern, Articles of Association and Memorandum
- Proof of identity: To be submitted with two authorized signatories such as 2 Directors including the managing director, with (any one of the following): PAN card, Voter’s identity card, Passport, and Driving license
- Financial Documents: Copies of IT returns for the last two years and Profit and Loss balance sheet for the last two years audited by a C.A
Self Employed Individuals – Professionals
- Identity Proof for Sole Proprietorship: PAN ID / IT return of the concern or Municipal tax, Water bill, and electricity bill in the name of the concern.
- Identity proof for the Sole Proprietor: Passport, Voter’s identity card, Driving license, PAN card.
- Address Proof for the Sole Proprietor: Driving license, Voter’s identity card, Ration card, Passport
- Financial Documents: Copies of IT returns for the last two years and Bank statements for the last 6 months along with the Profit and Loss balance sheet for the last two years audited by a C.A
Self Employed Individuals – Non Professionals:
- Identity proof: Documents to be submitted for the sole proprietorship as well as for the individual’s (owner) identity.
- Copy of periodic stock, age-wise book-debt and creditors-statement for latest three months
- Copy of bank statement of main banker/copy of bank statement for the term loan for last months
- Financial Documents: Profit and Loss balance sheet for the last two years audited by a C.A, Sales tax returns for a minimum of 3 years, and the Copies of IT returns for the last three years.
Business Loan EMI Calculator for Bajaj Finserv
The following is the EMI calculated table for Bajaj Finserv Business loan:
|Loan Amount||10 Year Loan||15 Year Loan||25 Year Loan|
|₹ 20 Lakh||₹ 24,958||₹ 19,871||₹ 16,307|
|₹ 30 Lakh||₹ 37,437||₹ 29,807||₹ 24,461|
Calculate EMIs with the help of Dialabank’s fast and accurate EMI Calculator!
Compare Bajaj Finserv Business Loan With Other Banks
|Particulars||Bajaj Finserv||Allahabad Bank|
|Processing Fee||1.5%, Min Rs. 500||Rs. 229 – per lac, Min Rs. 2,038 Max Rs. 22,928|
|Tenure||From 12 months to 48 months||From 12 months to 84 months|
|Lowest EMI per lakh||₹ 2,938||₹ 1,902|
|Loan Amount||Min ₹ 2 Lakh and Max ₹ 30 Lakhs||Min ₹ 1 Lakh and Max ₹ 20 Lakh|
More Banks to compare with Bajaj Finserv Business Loan:
|Barclays Bank||Canara Bank||ICICI Bank||ING Vysya Bank|
|HSBC||Citibank||Kotak Mahindra Bank|
Video: How to apply for Bajaj Finserv Business Loan
VIDEO WILL APPEAR!
Purpose of Business Loan from Bajaj Finserv
Availing a Business Loan from Bajaj Finserv can cover and help with:
- Maintaining a healthy cash flow to make payments to the suppliers on time.
- Instant availability of liquidity to finance the everyday needs of the business.
- The loan amount can be used to cover up all the expenses related to business expansion.
- Covers cost of buying new or upgrading machinery or equipment.
- Covers cost of purchasing new inventories.
EMIs of Several Banks and NBFCs for Different Tenures
The following table shows the approximate values of EMI’s offered by banks and NBFC’s other than Bajaj Finserv
|Total Loan Amount||Loan Tenure|
|Loan Amount (Rs.)||10 years||15 years||25 years|
|2,500,000||₹ 31,197||₹ 24,839||20,384|
|5,000,000||₹ 62,395||₹ 49,678||40,768|
|7,500,000||₹ 93,592||₹ 74,516||61,152|
|10,000,000||₹ 1.25 Lakh||₹ 99,355||81,536|
Other Loan Products from Bajaj Finserv
|Personal Loan||Gold Loan|
Why should you apply for Bajaj Finserv Business Loan at Dialabank?
DialaBank is India’s first online banking helpline service. It works as a bridge between you and your preferred bank choice by minimizing the complex paperwork and application process. Sorting out the best offer as per your requirements is Dialabank’s main master card as it has successfully delivered all the promised terms to all its customers without any fails.
Dialabank has been approved by its own customers and other authorized bodies and that is why it is placed on the top of its competitor’s leaderboard.
How to calculate EMI for Bajaj Finserv Business Loan?
Table Showing EMI, Interest Outgo, and Total Repayment Amount
|LOAN AMOUNT||INTEREST RATE||TENURE||MONTHLY INSTALMENT||TOTAL INTEREST AMOUNT||TOTAL AMOUNT|
|₹ 3,00,000||14.10%||1||₹ 26,555||₹ 18,661||₹ 3,18,661|
|₹ 3,00,000||14.10%||2||₹ 14,023||₹ 36,547||₹ 3,36,547|
|₹ 3,00,000||14.10%||3||₹ 9863||₹ 55,063||₹ 3,55,063|
|₹ 3,00,000||14.10%||4||₹ 7796||₹ 74,207||₹ 3,74,207|
|₹ 3,00,000||14.10%||5||₹ 6566||₹ 93,972||₹ 3,93,972|
You can also calculate the specific loan amount EMIs on Dialabank’s EMI Calculator.
Benefits of Bajaj Finserv Business Loan
Bajaj Finserv offers Business loans to self-employed and businessmen for financing the expansion or working capital requirements of their business. There are many benefits of availing loan from the Bajaj Finserv:
- Dropline Overdraft to save interest.
- High loan amount up to Rs. 75 Lakh.
- No collateral or guarantor required.
- The balance transfer option available.
- Flexible tenure and easy process.
- Fast Approvals and disbursals.
- Low and flexible interest rates.
- Simple and minimum paperwork required.
Bajaj Finserv Business Loan Processing Time
For loan applications for Commercial Banking customers, the Bank will take 30 working days to communicate the decision, once all the information required by the Bank is appropriately submitted by the customer.
Bajaj Finserv Business Loan Preclosure
Bajaj Finserv’s Business Loan Preclosure charges are 1% Loan amount at the time of the disbursals’.
Pre Calculated EMI Table for Bajaj Finserv Business Loan
The Loan EMI in Bajaj Finserv depends upon the occupation (businessmen, self-employed, salaried), loan amount, loan tenure, and interest rate.
|Loan Amount||5 Year Loan||7 Year Loan||15 Year Loan|
|₹ 20 Lakh||₹ 42,298||₹ 32,996||₹ 21,248|
|₹ 30 Lakh||₹ 63,446||₹ 49,494||₹ 31,872|
How to Apply for Bajaj Finserv Business Loan Online?
- Visit Dialabank.
- Go to the loan section and click on the Business Loan link.
- Check the eligibility criteria for the Business loan offered by Bajaj Finserv and fill a user-friendly online application form for Business Loan.
- One of our relationship managers will soon get in touch with you for further process
- For more information and free guidance, you may call on +919878981166.
Bajaj Finserv Business Loan Status
You can find the loan status by Calling at +919878981166 or by visiting the Main Bajaj Finserv Site.
Dialabank Bajaj Finserv Business Loan Customer Care Number
To find the solution to your queries regarding a business loan, give a call at +919878981166
Dialabank helps you to find the best option of Banks and NBFCs by providing you with a detailed market comparison of different banks so that you can make the right choice.
Bajaj Finserv Business Loan FAQs
✅ Is a guarantor required for the Bajaj Finserv Business Loan?
No form of security is required while applying for Bajaj Finserv’s Business Loan.
✅ How do I repay my business loan?
It should be repaid through EMIs via standing instructions and post-dated cheque.
✅What are the minimum and maximum tenure of business loans in Bajaj Finserv?
These loans are shorter tenure loans. You can repay your loan in a flexible period of a minimum of 12 months to a maximum of 84 months.
✅How much business loan amount I can borrow from Bajaj Finserv?
Bajaj Finserv offers you a loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 75 Lakh.
Table of Contents
- 1 Bajaj Finserv Business Loan Key Features
- 2 Interest Rate, Fees, and Charges (Self Employed Non-Professional)
- 3 Interest Rate, Fees, and Charges (Self Employed Professional)
- 4 Advantages of Bajaj Finserv Business Loan
- 5 Bajaj Finserv Business Loan Eligibility Criteria
- 6 Bajaj Finserv Business Loan Documents Required
- 7 Business Loan EMI Calculator for Bajaj Finserv
- 8 Compare Bajaj Finserv Business Loan With Other Banks
- 9 Video: How to apply for Bajaj Finserv Business Loan
- 10 Purpose of Business Loan from Bajaj Finserv
- 11 EMIs of Several Banks and NBFCs for Different Tenures
- 12 Other Loan Products from Bajaj Finserv
- 13 Why should you apply for Bajaj Finserv Business Loan at Dialabank?
- 14 How to calculate EMI for Bajaj Finserv Business Loan?
- 15 Benefits of Bajaj Finserv Business Loan
- 16 Bajaj Finserv Business Loan Processing Time
- 17 Bajaj Finserv Business Loan Preclosure
- 18 Pre Calculated EMI Table for Bajaj Finserv Business Loan
- 19 How to Apply for Bajaj Finserv Business Loan Online?
- 20 Bajaj Finserv Business Loan Status
- 21 Dialabank Bajaj Finserv Business Loan Customer Care Number
- 22 Bajaj Finserv Business Loan FAQs