हिंदी में पढ़े
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Highlights of Bajaj Finserv Business Loan |
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| Interest Rate | 10% to 26% p.a. |
| Loan Amount | Up to Rs 80 lakh |
| Tenure | Up to 12 years |
| Processing Fee | Up to 3.54% of the loan amount |
Table of Contents
Bajaj Finserv Business Loan Interest Rates
MSME Loans
| Loan Type | Interest Rates (p.a.) |
| Unsecured Business Loan | 14%-26% |
| Business Loan for Chartered Accountant | 11%-19% |
| Business Loan for Doctors | 11%-19% |
| Medical Equipment Loan | Up to 14% |
| Secured Business Loan | 10%-26% |
Comparison of Business Loan Interest Rates offered by Top Banks/NBFCs
| Bank/NBFCs | Interest Rate |
| Axis Bank | 10.75% p.a. onwards |
| Flexiloans | 1% per month onwards |
| HDB Financial Services Ltd. | 8% - 26% p.a. |
| HDFC Bank | 10.75% - 25% p.a. |
| IDFC First Bank | 10.50% p.a. onwards |
| Indifi | 1.50% per month onwards |
| Kotak Mahindra Bank | 16% - 26% p.a. |
| Lendingkart | 12% - 27% p.a. |
| Mcapital | 2% per month onwards |
| NeoGrowth Finance | 15% - 40% p.a. |
| Tata Capital | 12% p.a. onwards |
| UGRO Capital | 9% - 36% p.a. |
Bajaj Finserv Business Loan Fees and Charges
Unsecured Business Loans
| Particulars | Fees and Charges |
| Processing Fees | Up to 3.54% of loan amount |
| Prepayment Charges | 4.72% |
| Bounce Charges | Rs 1,500 per bounce |
| Documents processing charges | Rs 2,360 |
| Penal Interest | 3.50% per month |
| Mandate rejection charges | Rs 450 per month |
| Foreclosure Charges | Term Loan- 4.72%
Flexi Term Loan and Flexi Hybrid Loan- 4.72% |
| Annual Maintenance Charges |
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Secured Business Loans
| Particulars | Fees and Charges |
| Processing Fees | Up to 3.54% of loan amount |
| Penal Interest | 3.50% |
| Document Processing Charges | Rs 2,360 |
| MOF (legal and technical charges) | Rs 6,000 |
| Annual/additional maintenance charges |
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Foreclosure and Prepayment Charges
| Loan Variants | Charges |
| Term Loan/Advance EMI/step-up structured monthly instalment/ step-down structured monthly instalment | 4.72% |
| Flexi Term Loan | 4.72% |
| Flexi Hybrid Loan | 4% |
| Prepayment Charges | 2%
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Types of Bajaj Finserv MSME Loans (Loans offered through Bajaj Finserv MSME World)
Bajaj Finserv offers secured and unsecured loans under the Bajaj Finserv MSME World facility to micro, small and medium enterprises for financing their business requirements.
Bajaj Finserv Unsecured Business Loans
Bajaj Finserv offers the following five types of collateral-free business loans under its Unsecured Business Loan category:
Bajaj Finserv Business Loan for Working Capital
Purpose: Bajaj Finserv offers Business Loans for Working Capital to meet the various day-to-day administrative requirements of its MSME loan applicants, such as payroll, rent, lighting, operation costs, cashflow mismatches, etc.
Loan Amount: Up to Rs 50 lakh
Tenures: Up to 8 years
Bajaj Finserv Business Loans for Expansion
Purpose: Bajaj Finserv offers Business Loans for Expansion to its MSME loan applicants for financing various activities for business expansion like purchasing modern equipments, for taking steps towards increasing productivity, for investing in technological upgrades, for managing inventory, to meeting various operation costs, etc.
Loan Amount: Up to Rs 50 lakh
Tenures: Up to 8 years
Bajaj Finserv Business Loan for Machinery Purchase
Purpose: Bajaj Finserv provides Machinery Purchase loan to MSMEs to finance their machinery and equipment purchases.
Loan Amount: Up to Rs 50 lakh
Tenures: Up to 8 year
Bajaj Finserv Business Loan for Chartered Accountants
Purpose: Bajaj Finserv offers collateral-free business loans to Chartered Accountants to finance their various business/professional requirements such as setting up a new office, opening a branch office, integration of technology into practice and hiring extra recruits during filing season.
Loan Amount: Up to Rs 55 lakh
Tenure: Up to 8 years
Bajaj Finserv Business Loan for Doctors
Purpose: Bajaj Finserv offers business loans to doctors for renovation of clinic, upgradation of equipments, salary of employees, administrative costs and setting up a new clinic.
Loan Amount: Up to Rs 55 lakh
Tenure: Up to 8 years
Medical Equipment Loan
Purpose: Bajaj Finserv offers Medical Equipment Loan for purchase of machines like ultrasound units, ECGs, CT Scanners, X-ray machines, MRIs, angiography machines, monitors, scanners, etc.
Loan Amount: Up to Rs 6 crore
Tenure: Up to 7 years
Prepayment Charges: NIL
Bajaj Finserv also offers 3 unique variants of unsecured business loans:
- Flexi Term Loan: Bajaj Finserv offers term loans with flexible repayment options. Applicants can also withdraw additional funds from the Flexi Term Loan Account.
- Flexi Hybrid Loan: In such loans, the applicant pays only services the interest component during the initial phase of the loan tenure following which the regular EMI consisting of both interest and principal components are paid.
- Term Loan: These are regular loans wherein the loan amount is repaid in the form of equated monthly instalments that includes both principal and interest. Applicants can also prepay the loan amount before the end of loan tenure.
Bajaj Finserv Secured Business Loan
Bajaj Finserv offers the following types of secured business loans to its MSME loan applicants:
Bajaj Finserv Business Loan Against Property
Purpose: Bajaj Finserv offers Business Loan Against Property to MSMEs for leveraging their existing properties to meet their various business requirements.
Loan Amount: Up to Rs 80 lakh
Tenure: Up to 12 years
Processing Fees: Up to 2%
Bajaj Finserv Loan Against Car
Purpose: Bajaj Finserv offers Loan Against Car to self-employed individuals to meet their working capital requirements. In addition, applicants can also avail Loan Against Car to meet their personal requirements such as home improvement, higher education and other urgent expenses.
Loan Amount: Up to Rs 35 lakh
Tenure: Up to 6 years
Eligibility Criteria for Bajaj Finserv Business Loans
Bajaj Finserv Unsecured Business Loan
- Applicant should be an Indian resident
- Minimum age of the applicant should be 24 years at the time of loan application and 70 years at the time of loan maturity
- Self-employed applicants with a business vintage of at least 3 years are eligible for such loans
- Applicants with CIBIL score of 685 or greater usually have higher chances of availing Bajaj Finserv Business Loans
For Business Loans for Chartered Accountants
- CA applying for business loan should have practiced for at least 2 years
- Applicant should own an office or house in the city where Bajaj Finserv operates
For Business Loans for Doctors
- Doctors applying for Business Loan for Doctors should be Indian residents
- Minimum age of the applicant should be 22 years at the time of loan application and 72 years at the end of loan tenure
- The medical registration degree should be registered with the medical council
- Doctors with CIBIL scores of 685 or higher have more chances of availing business loans
For Medical Equipment Loans
- Medical Equipment Loans are offered to individuals, diagnostic centres, IVF centres, pathology labs, nursing homes, super-speciality hospitals, endoscopy centres and dialysis centres
- For borrowing loans above Rs 50 lakh to Rs 6 crore, applicant should have a business vintage of at least 2 years
Bajaj Finserv Secured Business Loan
For Loan Against Property
- Only Indian residents are eligible for secured business loans
- Salaried individuals who are 25 years at the time of loan application and 70 years at the time of loan maturity and self-employed applicants with business vintage of at least 3 years can avail such loans
- Self-employed individuals should be 18 years at the time of loan application and 80 years at the time of loan maturity
- Applicants should own a residential or commercial property in the city where Bajaj Finserv operates
- Applicants having CIBIL scores of 720 or greater have higher chances of availing Business Loan Against Property
Loan Against Car
For Salaried Individuals
- Minimum age of the applicant should be 21 years at the time of loan application and maximum age should be 70 years at the end of loan tenure
- Applicant should have minimum work experience of 1 year
- Minimum monthly income of the applicant should be Rs 20,000
For Self-employed Individuals
- Applicant should be 25 years old at the time of loan application and 65 years old at the time of loan maturity
- Self-employed proprietors are eligible for Loans Against Car
Documents Required for Availing Bajaj Finserv Business Loan
For Unsecured Business Loans
- KYC Documents- Aadhaar card, Passport, PAN card, Voter ID
- Business ownership proof
- Other financial documents
For Business Loans for Chartered Accountants
- KYC Documents- Aadhaar card, PAN card, driving license, Voter ID, etc.
- Address Proof- Rent agreement, electricity bill, passport, etc.
- Certificate of practice
For Business Loans for Doctors
- KYC Documents- Aadhaar card, passport, voter ID, PAN card
- Certificate for Medical Registration
For Medical Equipment Loans
- ITR
- P&L
- Audited balance sheet for last 2 years
- Current account statement for last 6 months
For Secured Business Loans
Loan Against Property
- KYC documents along with firm registration and ID proof
- Salary slip for 2 months
- Primary business bank statement for 6 months
- Property documents such as sale deed, electricity bill, house tax receipt
- Partnership deed, company MOA, AOA, COI
- Primary banking account of applicant should have a minimum vintage of 1 year
Loan Against Car
- KYC documents
- Passport size photograph
- Salary slips
- Bank statement
- RC Book