Bajaj Finserv Working Capital Loan
Last Updated : Oct. 11, 2019, 6:41 p.m.
Bajaj Finserv Working Capital Loan – Whenever anyone starts a business his basic ambition is the business expansion. But sometimes the scarcity of funds fails to meet the working capital requirement. Many startups shut down due to this problem. The only way is to borrow some money from the financial institution. Bajaj Finserv is one of the financial institutions that grant working capital to the businesses.
Bajaj Finserv Working Loan Interest Rate Details
| Particulars | Details |
|---|---|
| Rate of Interest | 18% onwards p.a |
| Processing Fee | up to 2% on loan inclusive of taxes |
| Bounce Charges | up to ₹3000 inclusive of taxes |
| Penal Interest | 2% per month |
| Document Processing Charges | ₹1449 plus taxes |
| Rate of Interest (Loan Against Property) | 16% onwards |
| Mortgage Origination Fees | ₹6000 |
| Tenure | 12 Months to 60 Months |
Eligibility Criteria for Working Capital Loan
- The age of the applicant must be between 22 to 55 years.
- The business should have a vintage period of 3 years.
- Your business must have filed income tax in the previous year.
- Previous year turnover should be audited by a CA.
Eligible Parties
- Self-Employed Professionals (SEP) – Allopathic doctors, Chartered Accountants, Company Secretaries and Architects who are practising their profession. Proof of qualification – document to be shared.
- Self-Employed Non-Professionals – Traders and Manufactures, Retailers, Proprietors and Service Providers etc.
- Entities – Partnerships, Limited Liability Partnership, Private Limited and closely held Limited Companies. Other constitution types depending on their profile on a case to case basis.
Documents Needed for Working Capital Loan
- Passport Size Photograph
- KYC documents – Address Proof and Identity Proof.
- Certificate or Documents Related to business Existence.
- Last Month Bank Accounts Statement.
- All the other Documents Needed by the bank.
Features and Benefits of Bajaj Finserv Working Capital Loan
Bajaj Finserv provides you some attractive facilities in the working capital loan. You can check them before applying.
Unsecured Loans upto ₹30 Lacs
You can easily get a working capital loan from Bajaj finserv up to ₹30 Lacs. This amount can be used for purchasing inventories, paying overhead costs and other working capital expenses. It will also help you maintain the cash balance in the company.
Fast Approval
If you fulfill all the needs of the bank then you get the loan within 24 hours. You just have to submit 2 authentic documents and get your loan approved. It is mandatory to fulfill all the eligibility criteria to get the loan instantly.
Flexible Modes of Repayment
Bajaj Finserv fixes easy EMIs of the loan amount. If in case you want to clear the debts before the closing dates, you can do that as well. This facility will help you to reduce the loan and EMIs burden up to 45%.
Pre-Approved Offers
You can easily get pre-approved offers on working capital loan. It simplifies the process of taking loan and saves a lot of time. Share some of your basic details and check all the pre-approved offers.
Track Working Capital Loan
You can track the status of working loans online. Once the loan is sanctioned, you can view all other details of the loan on the official website of Bajaj Finserv. The online portal will show you outstanding balance, paid balances, the interest charged and other details.
Needs of Working Capital Loan
- Helps to manage uncertain sales fluctuations in the business.
- Managing cash activities and meeting petty expenses.
- Acts as back support to the business.
- Encourage the businessman to take risks.
- It helps to leverage business activities and cash flows.