Applicable fees and charges
| Type of fee | Applicable charges |
| Rate of interest | 14% to 26% per annum |
| Processing fees | Up to 3.54% of the loan amount (inclusive of applicable taxes) |
| Bounce charges | Rs. 1,500 per bounce. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason. |
| Flexi Facility Charge | Term Loan - Not applicable Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes) Flexi Hybrid Loan (as applicable below) - • Up to Rs. 6,499/- (inclusive of applicable taxes) for loan amount less than Rs. 1000000/-. • Up to Rs. 8,999/- (inclusive of applicable taxes) for loan amount from Rs. 1000000/- to Rs. 1499999/-. • Up to Rs. 13,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/- • Up to Rs. 16,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above. *The above Flexi facility charges will be deducted upfront from the loan amount *Loan amount includes approved loan amount, insurance , VAS Charges. |
| Penal charge | Delay in payment of instalment(s) shall attract Penal Charge of Rs. 40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
| Prepayment charges | Full Pre-payment Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment. Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment. Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi. |
| Stamp duty | Payable as per respective state |
| Broken period interest | Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows: Scenario 1: If Loan is disbursed on 1st or post 10th of the month: |
| Annual maintenance charges | Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 0.413% (Inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 1.18% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Initial loan tenure. Up to 0.413% (Inclusive of applicable taxes) of the Total Withdrawable Amount during Subsequent loan tenure. |
| Legal and incidental charges | Recovery of charges |
| Principal Holiday Facility Fees | Principal Holiday (as applicable below) - (Inclusive of applicable taxes) Up to Rs. 6499 (Inclusive of applicable taxes) for loan amount less than Rs. 10,00,000. Up to Rs. 8,999 (Inclusive of applicable taxes) for loan amount between Rs. 10,00,000 and 14,99,999. Up to Rs. 13,999 (Inclusive of applicable taxes) for loan amount between Rs. 15,00,000 and Rs. 24,99,999. Up to Rs. 16,999 (Inclusive of applicable taxes) for loan amount Rs. 25,00,000 and above. Note- The above principal holiday facility fees will be deducted upfront from loan amount. Loan amount includes approved loan amount, Insurance Premium and VAS Charges. |
What is a Business Loan Interest rate?
The interest rate on a business loan represents the percentage of the loan amount that the lender imposes as a fee for providing funds to a borrower. Typically presented as an annual percentage rate (APR), this rate fluctuates based on factors such as the loan type, amount, duration, and intended use.
Factors that affect Business Loan Interest rates
- Credit score: A higher credit score indicates a lower risk of default and hence, a lower interest rate.
- Business profile: A well-established business with a stable income, a positive cash flow, and a good reputation can negotiate a lower interest rate.
- Loan amount and tenure: A higher loan amount and a longer tenure can increase the interest rate as the lender faces more uncertainty and risk.
- Market conditions: The prevailing economic conditions, inflation, and demand and supply of credit can influence the interest rate.
Tips to availing Business Loans at the lowest Interest rates
- Compare the 3 loan variants offered by Bajaj Finance: Term Loan, Flexi Term loan, and Flexi Hybrid loan.
- Maintain a high credit score by paying your bills and EMIs on time and avoiding defaults and late payments.
- Opt for a shorter tenure and a lower loan amount if possible. This can reduce the interest rate and the overall cost of borrowing.
- Provide collateral or a guarantor if required, as they can lower the risk for the lender and hence, the interest rate.
How to apply for a business loan
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Frequently asked questions
The processing fee for a Bajaj Finserv Business Loan may go up to 3.54% (inclusive of applicable taxes).
Up to 4.72% (inclusive of applicable taxes) on the part-prepayment amount will be charged in case of a term loan. However, there are no part-prepayment charges if you opt for the Flexi Term Loan or Flexi Hybrid Loan.
Bounce charge is the fee incurred in case of a missed EMI payment. Bajaj Finserv charges Rs. 1,500 per bounce, for every EMI missed.
You can get a Bajaj Finserv Business Loan at a competitive interest rate between 14%% to 26%% p.a.
The foreclosure charge that you pay depends on the loan variant you choose. It is:
- Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
- Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
- Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
You can get a repayment tenure ranging from 1 year to 8 years.
No, you do not need any collateral to get a Bajaj Finserv Business Loan.
You need a minimum credit score of 685 in order to get a business loan from us.
Use our free business loan EMI calculator to figure out how much interest you will have to pay on your loan. To see the interest charged, simply move the sliders to your preferred loan amount and tenure.
Your interest rate depends on how well you meet the eligibility criteria for the loan. Typically, it reflects the following factors:
- Your CIBIL Score
- Your business’s financials
- How long your business has been active
Ensure that you meet all the eligibility criteria in order to get the best deal on your business loan. The more profitable and longer-running your business, the lower your rate of interest. You must also ensure that your business has a minimum CIBIL Score of 685. The higher your CIBIL Score, the better your chances of securing a low-interest business loan.
With Bajaj Finserv Business Loan you can get a loan of up to Rs. 80 lakh. Your loan amount will depend on various factors like age, business turnover, Credit Score and more.
Choosing between a business and personal loan depends on your situation. Business loans are ideal for funding business-related expenses, while personal loans provide flexibility but may not offer the same tailored features for business needs.
