CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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Bajaj Finserv is a Financial service Company that is engaged in the business of lending, asset management, wealth management and insurance. It provides small business loans for various business purposes like expansion of operations, upgradation of technologies or processes, meeting the working capital requirements, infrastructure investments, etc. The business loans provided by this company are among the most competitive and most sought after loans by the corporate and SME world owing to its multifaceted features and benefits along with easy access for such loans. The details of the business loans provided by Bajaj Finserv are mentioned hereunder.
The eligibility criteria for Bajaj Finserv is very simple in order to increase its reach and provide financial assistance to more number of small business applicants. The eligibility requirements set by the company are mentioned below.
Bajaj Finserv requires the individuals to be minimum of 25 years of age to apply for the small business loans of the company and a maximum age to apply is 55 years.
The company requires the business to be owned by the applicant as well as in existence for a minimum period of 3 years in order to be eligible for its small business loans.
Income Tax Returns
The Income Tax Returns of the applicant are a mandatory requirement for applying the small business loans of the company. The ITR has to be filed for at least 1 year in order to be eligible for these loans.
Eligible applicants for Bajaj Finserv Business Loans are the following persons/entities
Limited Liability Partnerships (LLPs)
Private Limited and closely held Companies
Other Constitution Types (depending on the applicant’s profile)
The documentation process for Bajaj Finserv Business Loans is very simple and requires very basic documents that are usually part of the KYC process of any financial institution.
The details of the same are provided hereunder.
Identity Proof of the applicant
Bajaj Finserv requires the applicants to provide for an identity proof along with age proof and photo identification via any of the following documents
Address Proof of the applicant
Address Proof of the applicant can be any of the KYC documents as well as any of the following documents.
Following are the list of documents to be submitted by self-employed professionals and non-professionals
Business Ownership Proof
Bajaj Finserv provides easy and affordable small business loans for many purposes like investing in infrastructure, working capital needs, investing in new technological advancements and much more. These loans come with many features and benefits that make it an attractive option for the applicants. Some of such features of these business loans are discussed below.
Amount of loans availed
Bajaj Finserv provides many business solutions for the organizations based on their needs like short term finance, intermediate loans and long term loans. These loans can be availed for a maximum amount of Rs. 30,00,000.
Rate of Interest
The rate of interest on Bajaj Finserv Business Loans in India starts from 18% per annum depending on the credit profile of the applicant, loan sought, etc. Rate of interest in case of business loans taken against property is 16% per annum.
Stress free unsecured loans
Bajaj Finserv provides unsecured loans in as quick as 24 hours from the application without any hassles. It requires not more than 2 acceptable and approved documents to sanction the loans and thus satisfy the urgent need of capital requirement by the eligible small scale businesses.
Bajaj Finserv does not require any collateral for these small scale business loans. This ensures that the applicants get the loans promptly without any unnecessary delays and at minimum documentation.
Borrowers can get access to pre-approved loan offers of the company upon application. These pre-approved loans are at minimal documentation, reduced rate of interest and high top up options.
Flexi Loan facility
Bajaj Finserv provides the unique option of flexi loans where the borrower can withdraw only as much finance as needed in the organization and can repay the loan depending upon the available cash flows. Company provides this facility at zero prepayment charges. Borrowers can repay only interest as EMIs and have the option to repay the principal at the end of the tenure. Bajaj Finserv charges interest only on the amount withdrawn which in turn enables the borrower to reduce the EMIs by as much as 45%.
Online Access to the Account
Bajaj Finserv provides easy access of their loan account to the borrowers which enables them to access their business loan statement anywhere and anytime at their convenience.
Bajaj Finserv provides business loans at nominal charges. The list of some of these charges for business loans as well as loans against property for business loans are mentioned here.
Business Loans Against Property
Maximum 2% of the loan
Maximum Rs. 3000
Maximum Rs. 2000
Penal Interest (non-payment of dues)
2% per month
4% (excluding taxes)
Bajaj Finserv has loan options that are specifically designed for the borrower’s unique needs. Some examples of such loans are mentioned below.
Business Loans for Women
Bajaj Finserv provides easy and hassle free loans up to Rs. 30,00,000 specially for women entrepreneurs in order to meet their growing business needs.
Borrowers can get loans in order to install or upgrade any machinery or equipment for the business advancement or to meet any needs of bulk orders or staying at par with the completion in the market.
SME and MSME Loans
Loans for SME and MSME sectors provided by the company enables such entities to get loans for their operational needs as well as any other working capital requirements.
Working Capital Loans
Bajaj Finserv provides loans for working capital requirements of the entity without any collateral needs in order to ensure smooth flow of operations and no hindrance with the progress or existence of the organization
1. What is the contact number for Bajaj Finserv?
Customers can reach the customer care of Bajaj Finserv through the following telephone number – 08698010101.
2. Can a person get prompt business loans from Bajaj Finserv?
Yes. A person can get loans within 24 hours of application provided they meet the required criteria and have all the necessary documents.
3. What is the maximum amount of loan provided as business loans for small scale units?
Bajaj Finserv provides loans up to Rs. 30,00,000 as business loans for small scale units.
4. Does Bajaj Finserv require any collateral for business loans?
No. Applicants can get business loans at zero collateral from Bajaj Finserv.
5. Can a person view their loan account status online?
Yes. Bajaj Finserv provides online access to the loan account of the borrower at the following link. Customer Portal View loan details Click view details icon Select loan statement
6. What are the foreclosure charges on Bajaj Finserv Business loans?
The foreclosure charges on Bajaj Finserv Business Loans are 4% excluding the applicable taxes.
Fund your SME finance needs with a Bajaj Finserv Business Loan8 Apr 2019
Bajaj Finserv offers loans up to Rs 30 lakh to SMEs to fund their business needs at affordable rates. This loan comes with a quick processing time of as low as 24 hours and is collateral free. These loans allow flexi withdrawals so that you can get a...
Bajaj Finserv offers loans up to Rs 30 lakh to SMEs to fund their business needs at affordable rates. This loan comes with a quick processing time of as low as 24 hours and is collateral free. These loans allow flexi withdrawals so that you can get a disbursement only for the amount that you need. Further, you can also choose to pay interest-only EMIs for your multiple withdrawals through the term of your loan and repay the principal only at the end which results in huge savings.
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