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Bajaj Finance Business Loan Jul 2021

Bajaj Finance Business Loan Interest Rates India

Last Updated 19th Jul 2021

Bajaj Finance business loans can be availed by self-employed professionals and businessmen for varying business needs including the expansion of business, meeting working capital needs, purchasing equipment etc. Bajaj Finance business loan interest rate starts at 18.00%. 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 Payment Facility Allowed after 1 EMI's, 2%
Foreclosure Facility Allowed after 1 EMI's, 4%

Flexi loan facility available

Apply for Business Loan @ 14.00%*

Bajaj Finance Business Loan Details

Bajaj Finserv offers multiple business loan products for self-employed professionals and non-professionals at low rates. Below-mentioned are the details of the business loan Bajaj Finserv.

Key Features of Bajaj Finance Business Loans
  • Purpose of Loan: You can avail Bajaj Finance business loan to expand or modernise your business, purchase assets, set up new units etc.
  • Loan available for self employed professionals and non-professionals.
  • Borrowers within the age group of 25 and 65 years can avail Bajaj Finance business loan.
  • Security: Both Secured & Unsecured
  • Loan Tenure can range from 12 to 48 years.
  • Bajaj Finance business loan interest rates are in the range of 18.00% to 22.00 %.
  • Bajaj Finance Bank business loan EMI per lakh starts from ₹ 2,938.
  • Processing Fee: Upto 2% of loan amount
  • Special schemes: Some of the special business loan offers of Bajaj Finance are:

What are the Features and Benefits of Bajaj Finance Business Loan?

You can apply for Bajaj Finance business loan to expand your business or for working capital requirements such as purchasing machinery, paying salaries etc. Some of the benefits and features that Bajaj Finance business loans offer to the borrowers are listed as follows:

  • Flexi loan facility available
  • Pre-approved loan offers
  • Collateral-free loans
  • Fast loan processing
  • Flexible repayment tenure

Factors affecting Bajaj Finance Business Loan Rates

There are multiple factors on which Bajaj Finserv 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 amounts can be lower resulting in lower EMIs.

CIBIL Score

Bajaj Finserv offers business loans at higher interest rate if your CIBIL score is low or vice versa. However, to get a loan from Bajaj Finserv, your CIBIL score should be at least 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.

Revenue

Bajaj Finserv will offer you a loan at a 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 loans at lower rates if you have significant business experience. Minimum business existence to get a business loan from Bajaj Finserv is 36 months.

Lowest Bajaj Finserv Business Loan Interest Rates

Currently, the lowest business loan rate offered by Bajaj Finserv starts at 18.00%. There has been no change in the lowest interest rate of Bajaj Finserv business loan interest rate for a long time and the interest rate continues to be in the range of 18.00% to 22.00%.

Bajaj Finserv Business Loan Rate Trends of Last 1 Year

Last Updated Date Interest Rates
31 Mar, 2021 18.00%
25 Mar, 2021 18.00%
09 Mar, 2021 18.00%
07 Jan, 2021 18.00%
12 Aug, 2020 18.00%

Bajaj Finance Business Loan Eligibility Criteria

To avail Bajaj Finserv business loan, you need to fulfill the eligibility criteria as mentioned below:

  • Age : Bajaj Finserv offers business 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, Bajaj Finserv gives you loan amount 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 : Bajaj Finserv requires profit for minimum 2 years and minimum business turnover of ₹ 12,00,000.
  • Business Stability : Bajaj Finserv requires a 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 a loan.
  • ITR and Banking : Bajaj Finserv gives loan only after checking your income tax return and bank statements. The bank requires you to submit your ITR details and bank statements for a minimum of 0 months & 1 months respectively.
  • CIBIL Score : Bajaj Finserv will check your repayment history for all current and past loans and credit cards. The Bank advises you to maintain a score of 750 and above to get loan approval.

Bajaj Finserv 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
  • 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.
Flexi Loan
  • 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.
Loan for Doctors
  • Get loan approval of up to ₹ 30 lakhs within 24 hours
  • Nil part payment charges
  • Customised repayment options with line of credit facility

Bajaj Finserv Business Loan Fees and 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 for Bajaj Finance Business Loan

To apply for Bajaj Finance business loan, you need to submit the following documents:

  • 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

Bajaj Finance Business Loan Eligibility Calculator

You can calculate your eligibility for Bajaj Finserv business loan using an online Bajaj Finance business loan eligibility calculator. It is an online tool that gives you an estimate about your loan eligibility, amount of loan and the best interest rate offer you can avail. It calculates the business loan eligibility on multiple factors. These factors include age, loan amount, loan tenure and Income etc. to calculate the loan amount eligibility of its borrowers.

How to Apply Bajaj Finserv Business Loan Online at MyLoanCare?

  • In order to get the best offers on a business loan and compare Bajaj Finance business loans with other banks, you can apply online through MyLoanCare here.  
  • MyLoanCare will give you a detailed comparison of business loan schemes of all banks, calculate your business loan eligibility and connect you to the customer representatives of the  Bajaj Finserv.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

FAQs

Why to take business loan from Bajaj Finserv?

Bajaj Finserv is one of the largest HFC sector banks in the country that provides lowest business loans starting at 18.00%. The bank also charges a low processing fee starting from Upto 2% of loan amount. Along with that, the bank also offers special business loan schemes such as Working Capital Finance , Flexi Loan & Loan for Doctors etc.

Has Bajaj Finserv reduced the business loan interest rate?

Currently, the lowest business loan rate offered by Bajaj Finserv starts at 18.00%. There has been no change in the lowest interest rate of Bajaj Finserv business loan interest rate for a long time and the interest rate continues to be in the range of 18.00% to 22.00%.

What is the interest charged on Bajaj Finserv business loan?

Bajaj Finserv offers business loans at attractive rates ranging from 18.00% to 22.00%.The bank also provides various customised offers for self employed professionals to get loan at a 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 ₹ 2,938.You can calculate your EMI on business loan for different tenures at min business rate starting at 18.00% using MyLoanCare business loan EMI calculator.

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 business loan for loan amount ranging from ₹ 5 Lakh to a maximum amount of ₹ 30 Lakh. Loan amount eligibility in Bajaj Finance further depends upon your income, and repayment capability.

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

Bajaj Finserv charges a processing fee Upto 2% of loan amount with applicable tax.The processing can be negotiated if you are an existing customer or have a good track record.

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

Yes, age is an important eligibility factor to get a business 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 prepayment 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%.

What are the business products offered by Bajaj Finserv?

Bajaj Finserv offers various business products for self-employed professionals and non-professionals. These are listed below:

  • Working Capital Finance
  • Flexi Loan
  • Loan for Doctors

What is the time period of repayment of business loans in Bajaj Finserv?

Bajaj Finserv provides business loans for a maximum tenure of 48 years. You must repay your loan at the end of this loan tenure to avoid any late payment penalty.

Bajaj Finserv Business Loan Customer Care Toll Free Number
City Customer Care Number
Agra 020-39575152
Ahmedabad 020-39575152
Ambala 020-39575152
Anand 020-39575152
Aurangabad Bihar 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...

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Bajaj Finserv Business Loan News - Jul 2021
  • 2021-07-07 : Bajaj Finance books 46 lakh new loans in June quarter
    Bajaj Finance said on Tuesday it booked 46 lakh new loans (Personal loan, home loan, loan against property, top-up loan and business loan) during Q1 FY22 as compared to 18 lakh in the year-ago period. Customer franchise as of June 30 stood at 5 crores as compared to 4.3 crores last year. The company acquired 19 lakh new customers in Q1 FY22 as compared to 5 lakh in Q1 FY21.
  • 2021-04-30 : Bajaj Finserv reported a Q4 profit of ₹979 crore
    Bajaj Finserv posted a net profit of ₹ 979 crores in the January-March quarter, which marked an increase of 5 times from the profit of ₹ 194 crores during the same quarter last year. The NBFC reported the surge in profit backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with business and mudra loan.
  • 2021-01-25 : Bajaj Finserv Q3 results net profit rises 15% to Rs 1,290 crore
    Bajaj Finserv posted a 15% year-on-year rise in its net profit to Rs 1,290 crore in the quarter ended December, backed by home, personal, education, gold, car and two wheeler loans along with business and mudra loans Further, the bank’s revenues climbed 10% year-on-year to Rs 15,960.7 crore.
  • 2020-05-20 : Bajaj Finserv posted a net profit at ₹948.1 crore
    Bajaj Finserv 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.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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