Bajaj Finserv Business Loan

Highlights of Bajaj Finance Business Loan
Interest Rate	9.75% to 30% p.a.
Loan Amount	Up to Rs 80 lakh
Tenure	Up to 12 years
Processing Fee	Up to 2.95%

Bajaj Finance Business Loan Interest Rates

MSME Loans

Loan Type	Interest Rates (p.a.)
Unsecured Business Loan	9.75%-30%
Business Loan for Chartered Accountant	11%-18%
Business Loan for Doctors	11%-18%
Medical Equipment Loan	Up to 14%
Secured Business Loan	9%-22%

Bajaj Finance 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	Flexi Term Loan- 0.295% Flexi Hybrid Loan- 1.18% during initial loan tenure and 0.295% during subsequent loan tenure

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	Flexi Term Loan- 0.295% Flexi Hybrid Loan- 0.59% during initial tenure and 0.25% during subsequent tenure

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% Not applicable if the borrower is an individual and loan is availed at floating rates. Also not applicable for Flexi term loan or Hybrid flexi variant Time Period- More than 1 month from date of loan disbursal

Types of Bajaj Finance MSME Loans (Loans offered through Bajaj Finance MSME World)

Bajaj Finance offers secured and unsecured loans under the Bajaj Finance MSME World facility to micro, small and medium enterprises for financing their business requirements.

Bajaj Finance Unsecured Business Loans

Bajaj Finance offers the following five types of collateral-free business loans under its Unsecured Business Loan category:

Bajaj Finance Business Loan for Working Capital

Purpose: Bajaj Finance 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 Finance Business Loans for Expansion

Purpose: Bajaj Finance 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 Finance Business Loan for Machinery Purchase

Purpose: Bajaj Finance provides Machinery Purchase loan to MSMEs to finance their machinery and equipment purchases.

Loan Amount: Up to Rs 50 lakh

Tenures: Up to 8 years

Bajaj Finance Business Loan for Chartered Accountants

Purpose: Bajaj Finance 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 Finance Business Loan for Doctors

Purpose: Bajaj Finance 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 Finance 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 Finance also offers 3 unique variants of unsecured business loans:

• Flexi Term Loan: Bajaj Finance 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 Finance Secured Business Loan

Bajaj Finance offers the following types of secured business loans to its MSME loan applicants:

Bajaj Finance Business Loan Against Property

Purpose: Bajaj Finance 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 Finance Loan Against Car

Purpose: Bajaj Finance 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 Finance Business Loans

Bajaj Finance 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 Finance 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 Finance 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 Finance 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 Finance 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