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Bajaj Finance Business Loan Interest Rate Sep 2020

Bajaj Finserv Business Loan Interest Rates India

Last Updated 12th Aug 2020

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

Interest Rate 18.00%
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

Bajaj Finance 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 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 Business Loan 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 ₹ 0.02 Lakh 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 ₹ 0.02 Lakh per Rs. one lakh loan amount. At an interest rate of 22.00% for the same loan, the EMI will be ₹ 0.02 Lakh.
  • 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 ₹ 0.02 Lakh to ₹ 0.02 Lakh 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 ₹ 0.08 Lakh. Similarly for amount borrowed ₹ 30 Lakh, the EMI at 18.00% for 48 months would be ₹ 0 Cr.

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:

Working Capital Finance

Description

  • A working capital loan is a credit facility for business to fund the day-to-day expenses and to meet the short term requirements. The maximum loan amount as per working capital loan is up to Rs 30 lakhs.
  • The working capital finance is taken to procure raw materials, purchase inventory, pay suppliers in advance, manage cash fluctuations and to stabilise cash flow.

Who is eligible?

  • The business must be a minimum of 3 years in vintage.
  • The business must have filled ITR for at least one year.
  • This financing option is ideal for Small and Medium Enterprises (SMEs).
Flexi Loan

Description

  • Bajaj Finserv Flexi loan is a financing option that allows the borrowers to funds as per the needs of the business. Further, the interest as per this facility is charged only on the used amount, and not on the entire principal amount.
  • The loan is taken to fund day-to-day expenses.

Who is eligible?

  • The business must be a minimum of 3 years in vintage.
  • The business must have filled ITR for at least one year.
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

FAQs

Why to take business loan from Bajaj Finserv?

Bank offers loan at 18.00% rate with the lowest EMI of ₹ 1,500 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 22.00%. 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 ₹ 1,500.

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 echo 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 Finserv Business Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 020-39575152
Ahmedabad 020-39575152
Ambala 020-39575152
Anand 020-39575152
Aurangabad Bihar 020-39575152
Bangalore 020-39575152
Bhilai 020-39575152
Bhilwara 020-39575152
Bhiwadi 020-39575152
Bhopal 020-39575152
Bhubaneswar Cuttack 020-39575152
Bikaner 020-39575152
Chandigarh 020-39575152
Chennai 020-39575152
Cochin 020-39575152
Coimbatore 020-39575152
Dehradun 020-39575152
Delhi 020-39575152
Durg 020-39575152
Faridabad 020-39575152
Gandhinagar 020-39575152
Ghaziabad 020-39575152
Goa 020-39575152
Greater Noida 020-39575152
Gurgaon 020-39575152
Guwahati 020-39575152
Gwalior 020-39575152
Hyderabad 020-39575152
Indore 020-39575152
Jabalpur 020-39575152
Jaipur 020-39575152
Jalandhar 020-39575152
Jodhpur 020-39575152
Kanpur 020-39575152
Karnal 020-39575152
Kolhapur 020-39575152
Kolkata 020-39575152
Kota 020-39575152
Kozhikode 020-39575152
Lucknow 020-39575152
Ludhiana 020-39575152
Madurai 020-39575152
Meerut 020-39575152
Mehsana 020-39575152
Mohali Sas Nagar 020-39575152
Mumbai 020-39575152
Mussoorie 020-39575152
Nagpur 020-39575152
Nashik 020-39575152
Noida 020-39575152
Noida Extn 020-39575152
Panipat 020-39575152
Patna 020-39575152
Pondicherry 020-39575152
Pune 020-39575152
Raipur 020-39575152
Rajkot 020-39575152
Ranchi 020-39575152
Rohtak 020-39575152
Roorkee 020-39575152
Salem 020-39575152
Shimla 020-39575152
Sonipat 020-39575152
Surat 020-39575152
Trichy 020-39575152
Udaipur 020-39575152
Vadodara 020-39575152
Varanasi 020-39575152
Vijaywada 020-39575152
Vizag 020-39575152

Bajaj Finserv Business Loan Reviews 4/5  by 6 customers
MyLoanCare Service
4.3/5.0
Banks Service
3.7/5.0
Shivam Kabra, Bangalore
Reviewed on 24th Jan 2020
5 / 5 stars
Bajaj Finserv Business Loan Availed in Jan 2020

Very good team. I got the loan disbursed quickly with minimal documentation. Thank you for helping sRead more...

Nikita Agarwal, Bangalore
Reviewed on 22nd May 2019
3.5 / 5 stars
Bajaj Finserv Business Loan Availed in May 2019

Superb from your end. Geetika is very helpful. But Bajaj finance team is not upto the mark.Read more...

Sumit Rajendra, Pune
Reviewed on 03rd May 2019
5 / 5 stars
Bajaj Finserv Business Loan Availed in Apr 2019

Good service from MyLoanCare and your customer representative Mafi Devi was always in touch with me.Read more...

Rajesh Chauhan, Bhiwadi
Reviewed on 19th Mar 2017
3 / 5 stars
Bajaj Finserv Business Loan Availed in

Got loan with best rates and processing fee. Pre sales and post sales service was goodRead more...

Shiva Pal, Hyderabad
Reviewed on 16th Dec 2016
3.5 / 5 stars
Bajaj Finserv Business Loan Availed in

OK. Took loan from bajajRead more...

Sumit Raghav, Gurgaon
Reviewed on 08th May 2016
4 / 5 stars
Bajaj Finserv Business Loan Availed in

Got loan with best rates and processing fee. Bank people kept their promise.Read more...

Bajaj Finserv Business Loan News - Sep 2020
  • 2020-05-20 : Bajaj Finance posted a net profit at ₹948.1 crore
    Bajaj Finance posted a 19.38% decline in consolidated net profit at ₹948.1 crores in the fourth quarter of FY20 when compared to ₹1,176.06 crores a year ago. The bank’s net interest income grew 38% to ₹4,684 in the quarter ending March 31, 2020, crore from ₹3,385 crores a year ago. New loans backed by retail loans like home and personal loans along with business, mudra and two-wheeler loans increased by 3% during the quarter.
  • 2019-05-03 : NBFCs to seek loans from overseas banks in the form of External Commercial Borrowings
    Non-banking finance companies including Piramal Capital Housing, Bajaj Finance, Hero FinCorp, and IIFL Finance are now going beyond bonds to seek loans from overseas banks in the form of External Commercial Borrowing (ECB). Each NBFC is aiming to raise about $200-400 million in the next few weeks. IIFL Finance may raise up to $500 million, according to the sources.
  • 2019-02-15 : Bajaj Finance to infuse 10,000 crores into Bajaj Housing Finance in March
    Bajaj Finance is set to infuse 10,000 crores into its wholly owned mortgage lending arm Bajaj Housing Finance during the month of March 2019. The funds granted to them will help them to further expand their housing finance business. The company also has plans to strengthen its housing and business loans portfolio this year with the rise in the number of home loan disbursements.
  • 2019-02-06 : Bajaj Finance assigned an International Rating of BBB by S&P Global Ratings
    One of the leading NBFCs, Bajaj Finance has been assigned a long-term issuer credit rating of BBB with a stable outlook and A-3 short-term issuer credit rating by S&P Global Ratings on January 31, 2019. According to S&P Global Ratings, NBFCs comfortable capital levels and strong market position drive the ratings of the company which is supported by high margins, low dividend payouts, and periodic capital infusions to support rapid growth.
  • 2017-10-03 : Bajaj Finserv business loans experience 23% growth
    Due to a sharp growth of business loans in the recent past, Bajaj Finserv has acquired more than 50,000 new SME customers from 350 cities across the country. It has reported a 23% growth in the volume of business loans in the first quarter of FY18.
*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
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