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Bajaj Finserv Business Loan Interest Rates

Highlights

  • Know the Latest Interest Rate, Fee and Charges of Bajaj Finserv Business Loan.
  • Major factors that affect Bajaj Finserv Business Loan Interest Rates.

Business Loans usually boost up the smooth working of a business. Some businessmen prefer taking Bajaj Finserv Business Loan as it has a competitive rate of interest. On the other hand, it also grants a business loan without collateral. But the main concern for the borrower is the rate of interest. So, let us see the Bajaj Finserv Business Loan Interest Rates and other Charges.

Business Loan Interest Rates and Fees

You can know the latest fees, Foreclosure charges, Pre-Payment Charges and Annual/Additional maintenance charges below table.

ParticularsDetails
Rate of InterestPer annum 18% onwards
Processing FeeUp to 2% of Loan amount + Taxes
Bounces ChargeUp to ₹3000 + Taxes
Documentation Processing Charges₹1449 + Taxes
Panel Interest Only applicable on non-payment of monthly instalment / before due date2% Per Month
Document/Statement Charges (Statement of Account / Repayment Schedule / Foreclosure Letter / No Dues Certificate / Interest certificate / List of documents)Download e-statements/letters/certificates through Customer Portal- Free

Physical Copy of the Documents from Branch- ₹50

Annual / Additional Maintenance Charges

ParticularsDetails
Flexi Term Loan0.25% of Flexi term loan amount + applicable tax
Flexi Hybrid Loan1.0% of the loan amount + Taxes applicable during initial tenure.

0.25% of the Flexi term loan amount + applicable tax.

Note:- The annual/additional maintenance fee is deducted every year for the entire duration of the loan.

Business Loan Foreclosure Charges

It is full repayment of remaining Bajaj Finserv Business Loan amount in a single payment instead of paying your equated monthly instalment (EMIs) therefore it charges 4% + applicable taxes on your business loan principal outstanding.

Part Prepayment Charges of Business Loan

Type of Borrower Taken Time PeriodPart-Prepayment Charges
Loan is taken at a floating interest rate. (Not Applicable)Exceeding 1 Month from the Loan Disbursement Date2% + Tax on Prepaid Amount

Some other Charges is Applicable to Loan Against Property (LAP) for Business Loan

ParticularsDetails
Rate of Interest16% p.a.
Processing FeesUp to 2% of Loan amount + Taxes
Document/Statement ChargesDownload your e-statements/letters/certificates through Portal- NIL
Physical Copy from the Branch- Rs 50
Mortgage Origination Fee (MOF)₹6000 Inclusive of applicable taxes
Penal Interest2%  p.m.
Bounces Charges₹2000 inclusive of Taxes
Foreclosure Charges4% + Taxes
Any change in the number of days notice published through focused website.30 Days
Documentation Processing Charges₹1449 + Taxes
The notice period for right of lien/setoff7 Days

Additional / Annual Maintenance Charges

ParticularsCharges
Flexi Term Loan0.25% of Flexi term loan amount + Taxes
Flexi Hybrid Loan0.5% of loan amount + Taxes
0.25% of flexi term loan amount + Taxes

Factors Affecting the Interest Rates on Business Loan of Bajaj Finserv

Bajaj Finserv business loan interest rates start from 18% onwards per annum. The interest rate depends entirely on the eligibility criteria of the borrowers. These are some reasons that why two borrower get a different interest rate from Bajaj Finserv.

People Also Look For  Ujjivan Small Finance Bank Business Loan

Income of Borrower:- The main and important factor of the borrower. If the income of the borrower is high and meets Bajaj finserv terms and conditions then you will easily get a low rate of interest as compared to other borrowers. The high income increases the capacity of repayment of loans whereas the low-income increases the risk.

Good Relationship:- If you are already a customer of Bajaj finserv and have taken a lot of loans before and paid before hand then this could also be a reason for a low-interest rate.

Business Experience:- If you have sufficient business experience and stability then you can easily get a business loan at a low rate of interest. The minimum repayment period for clearing the loan is 12 months and the maximum limit is 60 months.

CIBIL Score:- Generally, A Cibil score is calculated on your credit history, debts, previous credit cards and loan payment history. Borrowers with high credit score can enjoy low interest rates than borrowers with lower credit

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Personal Loan Interest Rates July 2020
Fullerton India14.00% - 33.00%
HDFC Bank10.75% - 21.45%
ICICI Bank10.99% - 18.49%
IndusInd Bank11.25%
Kotak Bank10.99% - 20.99%
RBL17.50% - 24.00%
Standard Chartered Bank11.50% - 18.00%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates July 2020
Axis Bank7.75% - 8.55%
Bank of Baroda6.85% - 7.85%
Citibank8.20%
HDFC6.95% - 8.00%
ICICI Bank7.45% - 8.55%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank7.40% - 9.70%
LIC Housing7.40% - 8.85%
Piramal Capital & Housing Finance9.00% - 9.10%
PNB Housing Finance8.60% - 9.45%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI6.95% - 7.60%
Tata Capital9.20% - 9.35%