At times we require funds to expand our business or increase our working capital. This requirement can be met by availing the business loan from Bajaj Finserv Financial Institution. The institution provides loan for the highest value of₹30 lakhs. The loan tenure lasts up to 48 months and repayment can be done through ECS. The loans are available at the fixed rate of interest that are decided by the product dealer.
Business Loan
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Bajaj Finserv Business Loan Interest Rate
The rate of interest is fixed and remain the same throughout the loan tenure. However, the rates vary from applicant to applicant depending on their nature of the business, annual turnover and financial position. To know more about the rates, take a look at the table below.
How To Apply for Bajaj Finserv Business Loan
The candidates willing to avail the business loan product from Bajaj Finserv can apply through the following channels :
- Visit the branch office in the nearest location
- Apply online
- Send an SMS on 9773633633
Bajaj Finserv Business Loan Eligibility Criteria
- An applicant should be aged between 25-55 years
- Business should have a vintage of at least 3 years
- Business should have its Income Tax returns filed for at least the past 1 year
Bajaj Finserv Business Loan EMI Calculator
Make EMI calculation quick and simple using the Business Loan EMI Calculator. Just insert the loan amount, tenure and rate of interest in the calculator and get the desired result.
For Example, If you are interested in taking a loan of ₹30,00,000 at the rate of interest of 18% for the period of 48 months (4 years), insert the values in the calculator. The calculator will compute the monthly installment amount for you.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Year | Principal | Interest | Balance Amount |
---|
1 | ₹ 5,62,402 | ₹ 4,95,098 | ₹ 24,37,597 |
2 | ₹ 6,72,418 | ₹ 3,85,082 | ₹ 17,65,179 |
3 | ₹ 8,03,955 | ₹ 2,53,544 | ₹ 9,61,223 |
4 | ₹ 9,62,526 | ₹ 96,276 | ₹ 0 |
Bajaj Finserv Business Loan Application Form
The facility of online application is provided for the customer’s convenience. The customer can submit the details by registering online. Basic details such as personal details, financial details and loan details are required to register online. If, you are uncomfortable registering online visit the nearest bank branch.
Documents Required
You are required to attach the copy of the following documents in order to avail the loan.
- Application form
- Passport size photograph
- KYC documents
- Business Proof: Certificate of business existence
- Relevant financial documents
- Bank account statement of last month
Factors Affecting Business Loan Eligibility
- Loan Repayment track
- Credit Performance / Credit Bureau Update
- Debt servicing ability of the customer
- Business Vintage
- Financial Ratios
- Existing relationship
Bajaj Finserv Customer Care Number
Call on the customer care number to clear all product related queries. The service providers will update you with the latest information regarding the product. The customer care number is 020 3957 4151.
Features And Benefits
Following are the features and benefits
- No guarantors or collateral required
- Highest loan available up to₹30,00,000
- Attractive rate of interest
- Flexible tenure ranging up to 48 months
To Know More Details: https://www.bajajfinserv.in/