2 unique variants of our pharma loan

  • Flexi Term Loan

    Consider that you take a Rs. 4 lakh loan with a period of 24 months. For the first six months, you make timely payments of your EMIs. By this point, you would have paid back around Rs. 1 lakh including interest.

    You now require an extra Rs. 2 lakh. To withdraw funds from your Flexi Term Loan account, sign-in to My Account, our customer portal. Let's assume, you decide to pay off a portion of your loan in three months. Sign-in to My Account once again and make the payment.

    Your interest is automatically adjusted all through, and you pay interest only on the outstanding dues along with the applicable principal if any.

    A Flexi Term Loan is an ideal solution to meet fluctuating business expenses.

  • Term Loan

    This is a conventional loan. You can take out a loan for a specific amount of money. Fixed monthly repayments including interest and principal for a fixed loan tenor and / or Interest only payment in initial tenure and Fixed monthly repayments including interest and principal for subsequent tenure.

    If you repay your Term Loan before the end of the loan tenure, there is a charge for prepayment.

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Features and benefits of our pharma loan

Features and benefits of our pharma loan 00:37 ‌

Features and benefits of our pharma loan

Watch this video to know everything about our pharma loan

  • 2 unique variants

    2 unique variants

    We have 2 unique variants – Term Loan, Flexi Term Loan. Choose the one that suits your needs.

  • No part-prepayment charge on Flexi variants

    No part-prepayment charge on Flexi variants

    With Flexi Term Loan, you can borrow as many times as you need and part-prepay without any charges.

  • Loan of up to

    Loan of up to Rs. 7 lakh

    Manage your small/ large expenses with a loan ranging from Rs. 2 lakh to Rs. 7 lakh through an end-to-end online loan application process.

  • Convenient tenures of up to

    Convenient tenures of up to 8 years

    We provide longer repayment tenures of up to 96 months so that you can pay off your loan with ease.

  • Money in your bank account in

    Money in your bank account in 48 hours*

    In most cases, your pharma loan will get credited to your bank account within 48 hours of approval.

  • No hidden charges

    No hidden charges

    All the fees and charges for your pharma loan are mentioned clearly on this page and in your loan documents.

  • No collateral required

    No collateral required

    You do not need to give any collateral or security such as property or gold ornaments to get our pharma loan.

  • Online application process

    Online application process

    You can apply for our pharma loan anytime, from the comfort of your home or from wherever you are.

    *Terms and conditions apply.

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Eligibility criteria and documents required

Any pharmacy owner can apply for our pharma loan, as long as you meet the basic criteria mentioned below. You will also need a few documents to complete the loan application process.

Eligibility criteria

  • Nationality: Indian
  • Business vintage: At least 3 years
  • Age: 28 years to 72 years*
  • CIBIL Score: 685 or higher
  • Owner, or one of the partners (in case of joint ownership), to have a pharmacy degree from a recognised educational institution
  • Pharmacy ownership with at least 80% medicine stock

*Higher age limit is applicable at the time of loan maturity.

Documents

  • KYC documents – Aadhaar/ passport/ voter’s ID/ driving license/ Letter from NPR/ NREGA job card
  • PAN card
  • Proof of business ownership
  • Other financial documents as required

Step-by-step guide to apply for a pharma loan

  1. Click on the ‘APPLY’ button on this page.
  2. Enter your 10-digit mobile number and OTP.
  3. Fill in the application form with your basic personal and professional details.
  4. Once you fill out the form, click on ‘PROCEED’.
  5. Update the KYC details.
  6. Schedule an appointment for document verification.

Note: Keep your medical registration certificate handy to finish the KYC process.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account upon verification of your documents.

  • Did you know?

    You can lower your EMI amount by choosing a longer loan tenure of up to 96 months.

  • Did you know?

    With Flexi Term Loan, you can withdraw funds multiple times from your assigned loan limit.

  • Did you know?

    With pharma loan, you experience the ease of an end-to-end online application process

  • Did you know?

    No collateral such as a guarantor or gold ornaments is needed to get a pharma loan.

Applicable fees and charges

Types of fees

Charges applicable

Rate of interest

12 - 19 per annum

Processing fee

Up to 2.95% of the loan amount (inclusive of applicable taxes)

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. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/-

Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-

Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-

Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-

Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above

*The Flexi charges will be collected upfront from the loan amount

*Loan amount includes approved loan amount, insurance premium, and VAS charges.

Prepayment charges

Full prepayment

Foreclosure can be processed post clearance of first EMIs.

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) of 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

Part prepayment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment
  • Not applicable for Flexi Term Loan (Flexi Dropline)

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline):
Up to 0.295% (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 0.295% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure

Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure

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.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge of Rs. 20 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from the loan amount

Broken period interest/ pre-EMI interest

Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s), which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
For Term Loan: Deducted from the loan disbursement
For Flexi Term Loan: Added to the first instalment
For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

Frequently asked questions

Where do I find the loan account statement of my pharma loan?

You just need to visit our customer portal - My Account or open Bajaj Finserv app on your mobile. You can find your pharma loan details such as loan account statement, repayment schedule, and more on this portal.

What are the interest rates for pharma loans?

The interest rates for the pharma loan from Bajaj ranges from 12 to 19 per annum.

What is the maximum loan amount that you can get with a pharma loan?

Bajaj Finance provides pharma loans up to Rs. 7 lakh. You can fill in a few details and share the necessary documents to apply online for a pharma loan.

What is the difference between a Flexi Term Loan and a Term Loan?

A Term Loan is a regular loan. You will have to pay fixed monthly instalments over a fixed tenure. Your instalment amount will include a principal component and an interest component.

A Flexi Term Loan provides you with a limit from which you can withdraw funds as per your requirement, and make timely repayments applicable only on the outstanding amount.

What is the business vintage required to be eligible for a pharma loan?

You should have a business vintage of minimum 3 years to be eligible for a pharma loan.

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