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Bajaj Finance Business Loan Interest Rate Aug 2019

Last Updated 30th Jul 2019

Bajaj Finserv Business Loan Interest Rates India

Bajaj Finserv offers Business Loan starting at interest rate of 18.00%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

Bajaj Finance Business Loan Features
Bajaj Finserv Business Loan Rate
Loan for Self Employed Features
Processing Fee Upto 2% of loan amount
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%

Flexi loan facility available

Apply for Business Loan @ 13.50%*Get upto ₹ 2,500* Cashback
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Bajaj Finserv Business Loan

Bajaj Finserv offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Bajaj Finserv:

  • Flexi loan facility available
  • Pre-approved loan offers
  • Collateral-free loans
  • Fast loan processing
  • Flexible repayment tenure
  • You can prepay part of your loan anytime after paying 1 % prepayment charges
  • You can foreclose your entire Business loan anytime after paying 1 EMI's at foreclosure charges - 4%
  • Bajaj Finserv has been rated 3.8/5.0 by customers for its service quality on MyLoanCare

Bajaj Finserv Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in Bajaj Finserv depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum ₹ 5 Lakh to upto ₹ 30 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: Bajaj Finserv offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from Bajaj Finserv, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: Bajaj Finserv will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least ₹ 12,00,000.
  • Time in Business: Bajaj Finserv offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from Bajaj Finserv is 36 months.

Bajaj Finserv Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age: 25 to 65 years
Minimum Turnover ₹ 12,00,000
Business Existence (in months) 36 months
ITR (months) 0 months
Loan Amount ₹ 5 Lakh to ₹ 30 Lakh
Loan Tenure 48 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

Bajaj Finserv Business Loan Eligibility Calculator

Eligibility of Business loan in Bajaj Finserv relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. Bajaj Finserv offers loan to those who are at least 25 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from ₹ 5 Lakh to ₹ 30 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. Bajaj Finserv requires profit for minimum 2 years and minimum business turnover of ₹ 12,00,000.
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Bajaj Finserv requires minimum business track record of 36 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 0 months and bank statement for minimum 1 months will be required by Bajaj Finserv.
  • CIBIL Score: When checking loan eligibility, Bajaj Finserv will look at the complete CIBIL report. Bajaj Finserv will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

Bajaj Finserv Business Loan EMI Calculator

Bajaj Finserv Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by Bajaj Finserv is ₹ 2,937 per lakh loan amount. EMI of Bajaj Finserv depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 48 months loan from Bajaj Finserv at an interest rate of 18.00% per annum, EMI will be ₹ 2,937 per Rs. one lakh loan amount. At an interest rate of 20.00% for the same loan, the EMI will be ₹ 3,043 .
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 18.00% per annum, the EMI on Bajaj Finserv business loan would range from ₹ 9,168 to ₹ 2,937 for loan tenure ranging from 12 to 48 months.
  • Amount Borrowed: Bajaj Finserv Loan EMI will be high if you apply for a high loan amount. For amount borrowed ₹ 5 Lakh, the EMI at 18.00% for 48 months would be ₹ 14,687 . Similarly for amount borrowed ₹ 30 Lakh, the EMI at 18.00% for 48 months would be ₹ 88,125 .
What are the benefits of calculating business loan EMI?
  • Business loan EMI calculator of Bajaj Finserv helps you to calculate your monthly EMI at different rate of interest
  • Bajaj Finserv EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Business Loan Products

Bajaj Finserv offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Loan for Doctors

Description

  • Get loan approval of up to Rs. 30 lakhs within 24 hours
  • Nil part payment charges
  • Customised repayment options with line of credit facility
  • This loan is availed if you want to expand your scale of operations, need fund for equipments or other business needs.
  • No collateral or guarantor required

Who is eligible?

  • No experience for MD/DM/MS, 2 years for MBBS, 5 years for BDS/MDS, 8 years for BHMS/BAMS, 15 years for DHMS Doctors
  • Super Specialist Doctors MD/DM/MS, Graduate Doctors MBBS, Dentist Doctors BDS/MDS, Ayurvedic and Homeopathic Doctors BHMS/BAMS, Homeopathic Doctors DHMS
Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Bajaj Finserv allows prepayment of loan after paying 1 EMI’s with prepayment charges - 4%
  • Processing Fee- Bajaj Finserv asks for a processing fee of Upto 2% of loan amount with applicable service tax
Documents required
  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

Compare Bajaj Finserv Business Loan with other banks

FAQs on Business Loan Bajaj Finserv

Why to take business loan from Bajaj Finserv ?

Bank offers loan at 18.00% rate with the lowest EMI of ₹ 2,937 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Bajaj Finserv.

What is the interest charged on Bajaj Finserv business loan?

Interest rates on Business loan in Bajaj Finserv are very attractive starting from 18.00% to 20.00%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from Bajaj Finserv ?

If you apply for loan from Bajaj Finserv, your lowest EMI per lakh will be ₹ 2,937 .

What is the minimum and maximum tenure of business loan in Bajaj Finserv?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 48 months.

How much business loan amount I can borrow from Bajaj Finserv?

Bajaj Finserv offers you loan if you need a minimum amount of ₹ 5 Lakh to a maximum amount of ₹ 30 Lakh.

What is the processing fee charged by Bajaj Finserv on business loan?

Bajaj Finserv charges a processing fee of Upto 2% of loan amount with applicable tax.

Is age an eligibility factor to get loan for business from Bajaj Finserv ?

Yes, age is an important eligibility factor to get loan as you should be at least 25 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from Bajaj Finserv?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Bajaj Finserv is 4% .

Bajaj FinservBusiness Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Bajaj Finserv 020-39575152
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Bajaj Finance Business Loan News - Aug 2019
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More