What you must know about Bajaj FinServ’s business loans in Bangalore?

Bajaj FinServ is one of the top operating non-banking financial company. NBFCs are companies that involve in financial business such as lending loans and financing commodities. Like banks, an NBFC can hold money for you but only for 12-60 months and cannot get involved in deposits repayable on demand.

Bajaj FinServ is one of the best lenders to avail business loans in Bangalore. They understand that every business has a different capital requirement. So, they have numerous business loan options, each carefully manufactured to effectively cater to your needs. Let’s learn more about it.

Types of business loans

Bajaj FinServ offers all types of business loans. But these loans are categorised into two broad categories:

1. Term loans: Term loans are loans that are availed for a defined tenure. The defined tenure can be as low as 5 years to as high as 20 years.
2. Flexi loans: Unlike term loans, Flexi loans offer you flexibility in paying your loan. You must only pay for the amount you’ve used. Also, the EMI of the loan is paid first, and then the principal amount can be paid. This is 45% cheaper than term loans.

Loans that fall under term loans

The following are the loans that come under term loans:

1. Working Capital Loans: Businesses require working capital to meet daily expenses like managing unpaid debts and others. An individual can avail a working capital loan of INR 30 lakhs to meet the short-term requirements. Once your cash starts flowing in, you may not need it anymore.
2. Business loans for women: These loans are just like any other business loan, but it is specifically curated for women so that, they can meet their business needs and upscale.
3. Machinery loans: Every business needs machinery to scale, some needs heavy machinery and some needs light machines. This loan is specifically curated to meet this need.

Loans that fall under Flexi loans

The following loans come under Flexi loans:

1. SME Loans: SME stands for small & medium enterprises loans. These loans are for small business owners who need capital to run their business but not the entire sum. Bajaj FinServ understands this and hence curated this loan where the interest will be charged on the amount used. This costs 45% cheaper than other business loans.
2. MSME Loans: MSME loans stands for micro, small, medium enterprises loans. The owners of these businesses can avail funds up to 30 lakhs to meet business requirements. Just like SME loans, even MSME loans are 45% cheaper than other business loans.

Benefits you get from Bajaj FinServ business loans

1. Large funds made accessible: You can quickly avail funds up to INR 30 lakh. You can use it the way you like. You can use it in one go or use it according to your need. This is perfect to scale your business.
2. Flexible loan facility: Wouldn’t it be amazing if your charged for the amount you use and not the amount you didn’t use but as a security, you’re given a larger loan. This is the flexibility Bajaj FinServ offer to business loan borrowers.
3. Hassle-free unsecured loans: The loan can be availed with only 2 documents and gets credited to your account in 24 hours. This makes Bajaj FinServ the number 1 in business lending.
4. Large loans like 30 lakhs: Whether your requirements are short term or long term. You’re given access to 30 lakhs so that you can freely do business and scale.
5. No need to gage collateral: There’s no need for you to gage collateral to gain access to business loans. The loan can be availed just by gaging the necessary documents.
6. Pre-approval facility: When you apply online, you pre-qualify for various other benefits like high top-up loan or interest rate reduction on your business loan.
7. Online connectivity: You get access to a digital account with which you can track your loan from anywhere.

Eligibility criteria

You must qualify to the below-mentioned parameters to avail the loan

1. Minimum 3 years of business stability
2. Age should be between 25 to 55 years
3. IT returns of a minimum of most recent 1 year.
4. Good credit score

How to apply?

The process is simple and involves only 3 steps

1. Step 1: Fill the online application form
2. Step 2: Submit the relevant documents
3. Step 3: Enjoy the money in 24 hours

Lastly

You’ve found out everything important about availing a business loan from Bajaj FinServ. I hope this helps you pick the right loan.

Hello, I am Alvina working as a content writer in Hyderabad.