Running a business in today’s competitive world requires more than just passion and strategy, it requires working capital to maintain smooth operations and boost growth. Whether you’re looking to expand your operations, purchase new machinery, or simply cover day-to-day expenses, a business loan can provide the necessary funds.
Opting for a business loan can be a practical solution to ensure you have a steady cash flow. However, finding the right loan is key, and with options like the Bajaj Finserv Business Loan, you get the flexibility to choose from options designed to meet your business needs.
6 reasons why the Bajaj Finserv Business Loan is a wise option
Here are the top six reasons why the Bajaj Finserv Business Loan is preferred by many:
- Choose from 3 unique variants
- Term Loan
- Flexi Term Loan
- Flexi Hybrid Loan
- Loan amount of up to Rs. 80 lakh
Whether you’re managing small or large expenses, Bajaj Finance offers loans ranging from Rs. 2 lakh to Rs. 80 lakh, ensuring that regardless of your business size, you receive the capital you need to thrive.
- Multiple repayment options
Bajaj Finance provides convenient tenures of up to 96 months, allowing you to select repayment terms that fit your cash flow, from 12 months up to 8 years.
- No collateral required
You don’t need to pledge any assets to get a loan, reducing the risk to your personal or business property.
- Quick approval and disbursal
You can have the loan amount in your bank account within 48 hours of approval.
- No hidden charges
Transparency is key. All fees and charges are clearly mentioned upfront, eliminating surprises later.
The best part is that you can apply from the comfort of your home or office with just a few clicks, skipping queues and paperwork hassles.
Here’s how you can apply online:
Step 1: Visit the Bajaj Finserv website or download the Bajaj Finserv App, and click on the ‘APPLY’ button.
Step 2: Enter your 10-digit mobile number and the OTP received.
Step 3: Fill in your basic details such as full name, PAN, date of birth, and PIN code.
Step 4: Choose the loan amount and your preferred loan variant (Term Loan, Flexi Term Loan, or Flexi Hybrid Loan).
Step 5: Select the repayment tenure that best suits your business needs, ranging from 12 to 96 months.
Step 6: Complete the KYC process and submit the application.
Step 7: A Bajaj Finserv representative will contact you for the final steps, and once the documents are verified, the loan amount will be transferred to your bank account.
Before you apply for the loan check your eligibility criteria to ensure approval. Firstly, you must be an Indian national. Additionally, your business should have been operational for at least three years to demonstrate stability and experience in the market. A minimum CIBIL score of 685 is required, as this reflects your creditworthiness and ability to repay loans. Lastly, you must be aged between 24 and 80 years to be applicable.
If you meet these eligibility criteria, you will need to prepare a set of basic documents to complete your application process. Required documents include KYC documents, like your Aadhaar card, passport, voter’s ID, driving licence, letter from NPR, or NREGA job card, along with a PAN card to verify your identity. You also need to provide proof of business ownership and any other financial documents that may be relevant to your application. Having these documents ready beforehand can help streamline your application process and increase your chances of approval.
Conclusion
Boosting your working capital with the right business loan can be a turning point for your business’s growth. Bajaj Finserv Business Loan offers just the right nudge for your business in a very easy-to-access environment. So you can manage your cash flow without burdening your finances. Apply for a Bajaj Finserv Business Loan today, and let your working capital work for you!
