Bajaj Finserv Business Loans

Bajaj Finserv, a non-banking financial company (NBFC), is the subsidiary of Bajaj Group that takes care of financial services. The core business of Bajaj Finserv handles lending, insurance, and wealth management. Bajaj Finance Limited takes care of the lending and wealth management divisions of Bajaj Finserv. 

Several products and services are offered across the consumer, commercial, and SME customer base. There are many business loan schemes designed and offered by Bajaj Finance to cover the needs of businesses across micro, small, medium and large entities.

Here is all you need to know about Bajaj Finserv business loans.

Loan Schemes	Business Loans Business Loans Against Property Loans for Doctors Loans for Chartered Accountants Lease Rental Discounting
Loan Amount	Up to Rs.45 lakh
Loan Tenure	Up to 96 months
Interest Rate	18% p.a. onwards

Types of Business Loans

Business Loans	Small businesses can get a loan of up to Rs.45 lakh in just 24 hours. The loan amount can be used to scale up the business to new heights. Pre-approved offers are available under the scheme.
Business Loans Against Property	Business loans can be received by pledging a property and securing the loan.
Business Loans for Doctors	Doctors can get a loan of up to Rs.35 lakh to get the latest medical equipment, renovate/expand their clinic, integrate technology, or manage the cash crunch. Part prepayment facility is available without additional charges.
Business Loans for Chartered Accountants	Chartered accountants can go for this loan scheme to fund their firm’s expansion, maintenance, payroll, and cash flow. A loan of up to Rs.32 lakh is offered under the scheme only if the applicant owns a property.
MSME Loan/SME Loan	Micro, small, and medium enterprises can make use of this loan scheme to purchase inventory, buy equipment, pay salary to employees, or manage the cash flow of the business. This is a collateral-free loan.
Working Capital Loan	This scheme aims to help businesses with their daily or short-term operations. Businesses that don’t have stable sales can go for this scheme to fulfil their needs.
Machinery Loan	This unsecured loan scheme is dedicated to fund the repair of a broken machine or upgrade an existing machine to the latest version.
Business Loan for Women	This loan scheme comes with nominal interest rates, easy eligibility criteria and quick approval to encourage women entrepreneurs.
Startup Business Loan	Through this scheme, Bajaj Finserv supports numerous start-up companies with financing of up to Rs.45 lakh. Any startup with business experience of up to three years is eligible for this loan scheme.
Term Loan	As the name suggests, these loans come with a pre-defined term period for the loan repayments. They include specific repayment schedules and may have fixed or floating interest rates.
Channel Financing	This scheme helps dealers and merchandisers to connect with channel partners and stock up branded goods by paying the suppliers upfront.
Invoice Finance	High-value unpaid invoices can be used as collateral to get cash at hand much before the client pays the business directly. This cash can be reinvested into the business to make more profit.

Interest Rates

Bajaj Finserv offers business loans at the minimum rate of 18% p.a. The interest rate may vary based on the scheme chosen, the eligibility of the applicant, and many other factors.

Features and Benefits

• Financing of up to Rs.45 lakh is offered to small businesses.
• Competitive interest rates offered.
• Short-term, intermediate, and long-term loans for small scale businesses.
• Flexi loan schemes allow you to withdraw only what you need and repay the withdrawn amount at nil prepayment charge. Interest is charged only on the withdrawn amount.
• Business loans are offered in the form of a line of credit or term-loan based on certain conditions.
• Special schemes for doctors and Chartered Accountants.
• No guarantors are required to get the loan.
• Option to only pay the interest charges and repay the principal at the end of the tenure.
• Loan amounts improve infrastructure, purchase equipment, expand operations, or even increase working capital.
• Collateral-free loans are offered with minimal documentation.
• The lender offers an online application feature so you can apply paperless and hassle-free.
• Access your business loan statement online.

Eligibility Criteria

• Age: 25-65 years at the time of application
• Valid business that is active for the last three years
• Income tax returns of the business filed for a minimum of one year
• CIBIL score must be 750 or more
• Self Employed Professionals (SEP) 
  • Allopathic doctors
  • Chartered Accountants
  • Company secretaries 
  • Architects who are practising their profession
• Self Employed Non-Professionals (SENP) 
  • Traders and manufacturers
  • Retailers
  • Proprietors
  • Service providers
• Entities
  • Partnerships
  • Limited liability partnership
  • Private limited and closely held limited companies
  • Other constitution types depending on their profile on a case to case basis

Documents Required

• Identity Proof
  • Aadhaar card
  • Voter ID
  • PAN card
  • Passport
  • Driving license 
  • Any other valid document issued by the government
• Address Proof 
  • Passport
  • Electricity bill
  • Ration card
  • Telephone bill
  • Lease agreement
  • Trade license
  • Certificate of trade license
  • Any other document issued by the government
• A copy of the income tax return filed for at least one year
• Bank account statement for the last six months
• Balance Sheet and Profit & Loss Statement for the previous two years, audited by a CA
• Business ownership proof
  • Self-Employed Professionals
    • Registration document in case of sole proprietors
    • PAN card
    • Payment receipt for municipal tax
    • Electricity bill
    • IT returns
  • Self-Employed Non-Professionals 
    • Sole proprietor’s registration document
    • Individual identity proof of the owner
    • IT returns
    • Bank statements of the owner for the last six months
    • Statement of creditor/book debt/periodic stock
    • GST return
  • Partnerships and Private Limited Companies
    • Partnership agreement in case of partnership firms
    • Certificate of Commencement/Article and Memorandum of Association for Private Limited companies
    • Income tax returns 
    • Goods and Services Tax returns
    • Registration certificate under the Shops and Establishment Act
    • Partners and directors need to submit individual proofs of identity

Fees and Charges

Fee Type	Amount
Processing Fee	Up to 2% of the loan amount + applicable taxes
Statement of Account/ Repayment Schedule/Foreclosure Letter/No Dues Certificate/Interest Certificate/List of documents	A physical copy of your statements/letters/certificates/List of Documents from any of our branches at a charge of Rs.50 (Inclusive of taxes) per statement/letter/certificate.
Bounce charges	Up to Rs.3,000 (inclusive of applicable taxes)
Penal interest (Applicable in case of non-payment of monthly Instalment on/before the due date)	2% per month
Document processing charges	Rs.2,000 + applicable taxes

Frequently Asked Questions

How does the Business Loan for Doctors work?

Select the best scheme you think is right for you, submit the application and necessary documents, and the customer executive from Bajaj Finserv will get in touch with you. If everything goes well, your loan will be approved in 24 hours.

Can sole proprietors apply for a business loan with Bajaj Finserv?

Sole proprietors can get a business loan with Bajaj Finserv, subject to the documentation they can provide. The lender would require you to submit a registration certificate, PAN card, IT returns, bank statement for the last six months, electricity bill, GST returns, and credit/book debt/periodic stock as proofs for the business. Based on the lender’s satisfaction, the loan will be approved and disbursed on a case-by-case basis.

What is the loan approval process?

Step 1: Visit the Bajaj Finserv official website and click ‘Apply’ next to the business scheme you are interested in.

Step 2: Fill in the application form with your personal and business details.

Step 3: Upload the required documents and submit them.

Step 4: An executive from Bajaj Finserv will contact you to explain the loan offer 24 hours.

Step 5: After the eligibility check of your business and verification of your documents, the loan amount will be disbursed within 24 hours.

I am a Chartered Accountant…What is the eligibility criteria applicable to me to get a business loan?

The eligibility criteria applicable to Chartered Accountants are given below.

• You must be a certified CA.
• A minimum of four years experience on the Certificate of Practice (CoP).
• You must own a house or a property in a location where BajajFinserv is located.
• Even if you do not own a property, you can apply for a loan if your parents do.

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