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Bajaj Finserv Business Loan

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Updated: 25-09-2020 06:48:42 AM

Bajaj Finserv is among the leading NBFCs that offer business loans at an interest rate of 18% onwards for undertaking various business activities, such as expansion in new market, acquisition of other companies, buying high-value assets and equipment for production purpose, working capital requirements, etc.

Bajaj Finserv offers business loans specially designed for self-employed professionals, including chartered accountants, doctors, company secretaries and architects. Business loans are also offered to retailers, proprietors, traders and manufacturers, service providers, etc. Business loans offered by Bajaj Finserv come with the following features:

  • Business Loan amount up to Rs.20 lakhs can be taken without any collateral, security or guarantor.
  • Bajaj Finserv provides upfront information about the related fees and charges.
  • Ensures that transparency is maintained and no hidden clauses are involved.
Bajaj Finserv Business Loan Interest Rate 2020
Bajaj Finserv Business Loan Eligibility Criteria
Fee & Charges Applicable
Documents Required
Loans to Various Segments
Flexible Prepayment Options
Bajaj Finserv Customer Care

Bajaj Finserv Business Loan Interest Rate 2020

Interest Rate18% onwards
Processing ChargesUpto 2% of loan amount + taxes
Loan TenureFrom 12 months – 48 months
Loan AmountMin. Rs. 3 lakh & Max upto Rs. 20 Lakh
EMI Bounce ChargesRs. 3000 (Inclusive of taxes)
Interest & Principal statement chargesNIL
Prepayment Charges2% + applicable taxes
Foreclosure Charges4% + applicable charges

Note: The facts and figures provided above are illustrative and subject to periodic change

Bajaj Finserv Business Loan Eligibility Criteria

Eligibility factorsEligibility criteria
Age of the ApplicantMinimum: 25 yrs. Maximum: 55 yrs.
Status of EmploymentAt least 3 years in current business
ITR (Income Tax Returns)For past 1 year

Bajaj Finserv offers business loans to women entrepreneurs for amount upto Rs. 20 lakh to meet their financial requirements. It also offers machinery loans for businessmen to install or upgrade to latest machinery and equipment.  Pre-approved business loans are also available if the customer applies online.

Fee & Charges Applicable

Eligibility factorsFee & Charges
Penal Charges2% per month + applicable taxes
Pre-payment Charges2% + applicable taxes
Document Processing ChargesRs. 1449 + applicable taxes
Outstation collection chargesRs. 65 + applicable charges
Service chargesNil
Secure FeeNil
Stamp DutyAs per state or UT (% different)

Bajaj Finserv Business Loan for Doctor – 2020

Business Loan for Doctor – Interest Rate, Features & Charges
Interest Rate14% onwards
Loan AmountUp to Rs. 25 lakh
Repayment TenureFrom 12 months to 96 months
Loan Disbursal TimeWithin 24 hours
CollateralNot required
Processing Fee2% of the loan amount
EMI Bounce ChargeRs. 1000 per instance
Penal Interest2% per month
Part payment ChargesNil
Loan Statement ChargesNil
Interest and principal statement chargesNil

Note: The above mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Eligibility Criteria for Business Loan for Doctors
Dentists (BDS/MDS)Min. 5 years of post-qualification experience
Graduate Doctors (MBBS)Min. 2 years of post-qualification experience
Super-specialist doctors (MS/MD/DM)No min. post-qualification experience required
Ayurvedic and Homeopathic Doctors: BHMS/BAMSMin. 6 years of post-qualification experience, and must own a house or clinic
Homeopathic Doctors: DHMSMin. 15 years of post-qualification experience, and must own a house or clinic

Bajaj Finserv Business Loan for CAs – 2020

Business Loan for CAs – Interest Rate, Features, Eligibility & Charges
Interest Rate14%-15% per annum
Loan AmountUp to Rs. 25 lakh
Repayment TenureFrom 12 months to 60 months
Loan Disbursal TimeWithin 24 hours
CollateralNot required
Certificate of PracticeShould be active for min. 4 years
Ownership of a house or officeAt a location where Bajaj Finance Ltd. operates
Processing Fee2% of the loan amount
EMI Bounce ChargeRs. 1000 per instance
Penal Interest1% per month
Part payment ChargesNil
Loan Statement ChargesNil
Interest and principal statement chargesNil

Note: The above mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.

Business Loans for Women – 2020

  • Interest Rate: Depends on business requirements
  • Maximum loan amount: Rs. 20 lakh
  • Repayment Tenure: From 12 months to 96 months
  • Collateral: Not required
  • Loan Approval: Within 24 hours
  • Documents required: Same as mentioned for SME or business loan

Documents Required

For the purpose of applying business loan from Bajaj Finserv, the applicant will have to provide the following documents:

  • Passport Size Photographs
  • KYC Documents: PAN card, Driving License, Passport, Voter ID and Aadhar card.
  • Business Proof: Documents related to business
  • Financial Documents: ITR, Bank Statement for past 3 months, balance sheet documents, cash flow statement.
  • Certificate of practice (For professionals)

Loans to Various Segments

Loan for business purpose are provided in the following categories:

  • Business loan to CAs/Doctors/Engineers: Loans to professionals like CAs, Doctors and Engineers are provided so that they can build their business and contribute to the growth and welfare of the economy. For doctors and engineers, a loan up to Rs. 25 lakh can be availed without providing any collateral, security and guarantor.
  • Business loan to SME: Small and Medium Enterprise loans are provided specifically to the business owners of SMEs to offer them encouragement and ease in dealing with the business activities. The SME loans are not one-size-fits-all concept and are specially designed keeping the borrower and his needs in mind. You can also apply loan online by providing the requisite information and financial figures. The customer care will then contact you.
  • Business loans against securities i.e. shares: Bajaj Finserv offers loan up to a maximum of Rs. 10 crores which is the highest amount of loan offered against shares in India. The borrower has to pledge his/her shares with Bajaj Finserv. The benefit of this loan is that the borrower is not required to sell his/her shares and he can continue doing his business along with protecting his portfolio of shares.
  • Business loan against property: In business loan against property, the borrower pledges his property to avail a loan. The documents related to the ownership of the property are provided to the bank. This loan offers a unique facility which is called the flexi saver facility. It is a combination of credit line facility and term loan with the aim of saving interest and effective management of cash flow.

Flexible Prepayment Options

Baja Finserv offers flexible prepayment options which enable the borrower to deposit idle cash lying with him. This idle cash is settled against the principal amount as and when received by Bajaj Finserv.

Flexi Loan Account

Once the loan is approved, the borrower will have to repay it within a certain stipulated time frame. Flexi loan accounts are like overdraft facility wherein one may down-draw or deposit against the loan account and can make multiple withdrawals provided it is within the credit limit offered. Purpose of this facility is to ensure better management of business and to provide flexibility to the borrower.

Flexible EMI Payment Options

EMI can be paid through cheque mode or ECS system. In cheque mode of payment, the borrower will have to provide post-dated cheques upfront to Bajaj Finserv. However, ECS mode is preferred by borrowers these days as it debits the amount of EMI as and when the due date approaches. The borrower will have to submit requisite documents and application form to the bank for activating the ECS facility.

Bajaj Finserv Customer Care

Now you can get instant access of your account by just downloading their Mobile app from Play Store or can also write email to wecare@bajajfinserv.in. You can also avail their Quick Help SMS facility to address your queries. You can also give a missed call on +91-98108 52222 to receive a call back from their customer service team.

Toll Free No: 1800-103-3535

SMS HELP to +91-92275 64444 – To get information on your loan account

Customer care No: 020 3957 5152 (charges apply)

Grievance Redressal No: 020-71177266 email: grievanceredressalteam@bajajfinserv.in

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