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  • Bajaj Finserv Short Term Business Loan

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  • It is often a cherished dream of every entrepreneur and business owner to grow their business, be it to expand operations, or strengthen the working capital of the business. However, this expansion is possible with the help of additional funding which is most commonly availed by way of short-term loans. Among the many lenders which offer such loans, one of the most notable is undoubtedly Bajaj Finserv. Offering loans that require minimal documentation, and are disbursed in the shortest time, Bajaj Finserv is the best option for all business owners looking to boost their business in order to up their profits.

    Features of Bajaj Finserv Short Term Business Loan

    • High loan amounts: The Bajaj Finserv short term loan has been designed keeping in mind the requirements of small businesses. This loan offers quick and hassle-free financing solutions to businesses for up to Rs.30 lakh. These loans are offered at very competitive interest rates, making them an even more lucrative option.
    • Perfect option for a variety of needs: Be it for expanding operations, investing in infrastructure, increasing your business inventory or purchasing equipment, or to enhance the working capital of your business, these short-term loans are the perfect solution for any small-scale business.
    • Flexi loan facility: One of the most valuable features of this short-term loan is the flexi loan facility. Under this facility, the borrower can withdraw only the amount that they need and can repay the borrowed money depending on their business cash inflow. Only the amount that is withdrawn will attract interest, which can be repaid in EMIs, the principal amount can be repaid at the end of the loan tenure. There are no pre-payment charges levied. This in turn helps the borrower increase their savings by a great deal.
    • Quick and simple application process: The application process for this loan is not only fuss-free, but also quick. The eligibility criteria for this loan is simple, borrowers can apply for the loan by providing only 2 documents, and have their loan approved in less than 24 hours. These are some reasons why this loan is so popular among small business owners.
    • Collateral-free loans: This short-term loan by Bajaj Finserv is an unsecured or collateral-free loan. This means that borrowers do not have to pledge any of their assets, personal or business, in order to apply or obtain the loan. Moreover, because this loan does not require any collateral, there is no asset appraisal required. That is the reason why funds under this loan are approved and disbursed much quicker than any other similar product.
    • Pre-approved offers: You can easily apply for a Bajaj Finserv Short-term loan online and in the process choose from a number of pre-approved loan offers which do not require any collateral. You can also get a chance to avail a discount on the loan interest rate, or even get a high top-up loan.
    • Easy online account access: With Bajaj Finserv, you have the convenience of accessing your loan account online at any time you want. Manage your account and view your account statement at ease.

    Benefits of taking a Bajaj Finserv Short-term Business Loan

    There are several ways in which this loan can benefit small business owners, who can avail the loan for a number of purposes such as enhance the cash flow of their business, rent or lease out a bigger office space, renovate the office , purchase new machinery/equipment, rent or lease new equipment, upgrade their operations using the latest technology, increase their inventory, expand operations to other cities, hire more employees, and generally expand operations in order to be able to undertake large scale projects.

    Eligibility criteria for Bajaj Finserv Short-term Business Loan

    In order to be eligible for this short-term business loan, the customers must adhere to the following eligibility criteria:

    They must be aged between 22 years to 55 years

    The borrower’s must have been running their business for a minimum of 3 years

    IT Returns for the business must have been filed for the past 1 year

    The last year’s business turnover must have been audited by a Chartered Accountant

    Rates & charges associated with Bajaj Finserv Short-term Business Loan

    Following is the schedule of rates and charges applicable on the Bajaj Finserv Short-term Business Loan:

    Rate of interest Starting from 18%
    Processing fees 2%; subject to conditions
    Loan statement charges Rs.50
    Interest & principal statement charges Nil
    EMI bounce charges Rs.3000/bounce
    Penal interest 2% p.m.
    Secure fee Nil

    Foreclosure charges*

    Borrower type Time period Foreclosure charges
    Individual: floating rate less than 1 4% foreclosure charges + applicable taxes
    Non-individual: Floating rate; All borrowers: Fixed rate >1 4% foreclosure charges + applicable taxes

    *conditions apply

    How to apply for the Bajaj Finserv Short-term Business Loan

    There are two ways in which you can apply for this loan, both of which are discussed below:

    Online – To apply online, you must first visit the Bajaj Finserv website, go to the particular loan page, navigate to the ‘How To Apply’ section, and click on ‘Click here’. Next, you will be required to fill in some details, after which you must click on ‘Submit’.


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