Bajaj Finserv Business Loan Interest rates in Raipur
| Up To 10,00,000 | 10,00,000 Above | |
|---|---|---|
| Manufacturer | 18.00% | 18.00% |
| Service Provider | 18.50% | 18.00% |
| Trader/Distributor | 19.00% | 18.00% |
Features of Bajaj Finserv Business Loan Raipur
| Type | Features |
|---|---|
| Processing Fee | Up to 3% of the loan amount |
| Pre Closure Charges | 4.0% on outstanding |
| Part Payment Charges | Allowed |
| Min Tenure | 1 Years |
| Max Tenure | 4 Years |
| Min Age | 24 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.5,00,000/- |
| Max Loan Amount | Rs.30,00,000/- |
Bajaj Finserv Business Loan Raipur Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | Rs.3,000 for every bounce |
| Penal Interest | 2.00% p.m |
| Duplicate Statement Charges | Rs.50 |
Documentation For Business Loan
For Proprietorship Firm
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Last 2 years of Income Tax Documents
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photographs
- 6 months Bank Statements
- Latest year business performance related documents.
- Other loansanction letters and their Track (If existed)
For Partnership Firm
- Filled Application Form
- Partnership deed
- Firm PAN Card & Address Proof
- All Partners Identity Proof
- All Partners Address Proof
- Last 2 years of Income Tax Documents
- Last 6 months of Bank Statements
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photograph for applicant
- 6 months Bank Statements
- Latest year business performance related documents
Private Limited And Limited Companies
- Filled Application Form
- MOA/AOA and Incorporation certificate
- Commencement of operation (if it is a Public Ltd Company)
- Company PAN Card & Address Proof
- All Directors Identity Proof
- Last 2 years of Income Tax Documents
- Last 6 months of Bank Statements
- VAT/CST/ST Registration copies (if any)
- 1 Passport Size colour Photograph for applicant
- 6 months Bank Statements
- Latest year business performance related documents
- Other loansanction letters and their Track (If existed)
Identity Proof Of Partners/Directors
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof Of Partners/Directors
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Personal Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Income Proof Of Partners/Directors
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Banking History For Business Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Bajaj Finserv Business Loan FAQ's
What is an sme Loan?
Small Medium Enterprises (SME) loans are a form of business loans extended only to medium-sized enterprises. These loans are tailor-made to suit the needs and requirements of SMEs. Whether you're looking to grow one, Business Loan from Bajaj Finserv would prove to be the smartest option.
How to Get a Business Loan Easily?
"When you apply for a business loan in India, it is likely that you are a self-employed individual/chartered accountant, doctor, lawyer, working in a limited/private limited company or a partnership/proprietorship firm. The easiest way however, to apply for a business loan, is to go online and get your job done in minutes. The eligibility criteria and loan amount might depend on factors such as: • Type of Business • Turnover • Cash-flow • Profit • Track Record "
What is the Interest Rate for a Business Loan?
Bajaj Finserv helps your growing businesses by offering one of the lowest Business Loan interest rates in India. In order to check your interest rate on Business Loan, we have a calculator for you. Other charges such as Processing Fees, Secure Fee and EMI bounce charges would be applicable. Now you can apply for a Business Loan online and get approval within minutes.
What are the Documents Required for Business Loan?
Business Loan or SME loan requirements are different from other loans. In order to read about all the documents that would be required as well as to check eligibility criteria for Business Loan in detail,
What is Small Business Loan?
A Small Business Loan is a form of a Business Loan which has been exclusively designed and tailored to meet the requirements of a small to medium scale business.
About Bajaj Finserv
The company is currently engaged in consumer finance businesses, life insurance, and general insurance and has plans to expand its business by offering a wide array of financial products and services in India. Apart from financial services, Bajaj Finserv is also active in wind–energy generation.
Bajaj Finserv Highlights
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Why Business Loans?
Owning a business is an exciting journey. When starting off there are many odds and ends to be met, once the business is set things will begin to takeoff. However nothing is possible in the business world without the right financing. Many business owners will review the financing options available to them, Business Loans are the best suitable for kind of your requirements.
As a business owner, your most difficult task is finding the money to operate your business. Taking the necessary steps to prepare for a small business loan can minimize the difficulty.
Learn what you need to know to clinch the loan deal.
You can get a loan for your business by proper preparation. The main requirements of attaining a business loan are your credit history, business plan, experience, education, and feasibility of the business you are expanding.
The most important task to obtain a business loan is to improve the business. Your business plan must answer the questions, a lending institution would ask for following.
The factors which will affect your business loan eligibility and rate of interest:
Interest rates
Rate of Interest will be based on bank/financial Institutions internal policies and terms. Generally Bank account conduct, reputation of the entity, repayment capability, credit history, Promoters Back ground and other credit related factors which can be evolve for Business Loans.
Tenor: from min of 12 months to Max of 48 months.
Interest Rate: from min 16(percent) to 22 (percent) .
Age: Min of 24 years to max of 55 years.
Repayment: Monthly EMI to be paid till the loan closure.
Repayment mode: By way of PDC, ECS or Standing Instructions.
Pre-Closure Charges: Will be applicable as per bank norms.
Expert Advice
Best Practices for Business Loan
Things not to do for Business Loan
Important points to be remember for Business Loans
Business Loans Vs Working Capital Facilities
| Business Loans | Working Capital Facilities |
|---|---|
| Generally Business Loan are small tenor unsecured loans offered by the bank based on the requirement, conduct and credit history of the entity. | Working Capital loans are related to business day to day operations, there is no limitation for the working capital facilities as per the entities financial performance and collateral capacity. |
| Business Loans are by nature it is a loan and need to repay the regular instalment till the loan will be cleared. | Working capital Facility is a facility you can avail the regular day to day transactions for your business purpose, generally WCF will be sanctioned for 12 months tenor. |
| Business Loans can be used for any related works, and there is no restriction for usage of funds. | WCF will be used only for business and business related purpose, there is a restriction on usage for facilities. |
| Business Loans will be only provide the fund based limits. | Working capital facilities can be sanctioned for fund based or non fund based requirement. |
| Only one type of facility can be availed from the Business Loans from the bank | Various types of facilities can be offered by the bank under WCF facilities. |
| Business Loans can be availed by small business owners. | WCF facilities can be availed by small business owner to big corporate. |
| Maximum tenor of loan is 48 months offered by the banks. | Maximum tenor will be 12 months based on the facility requirement. |
| Business Loans are costly than the WCF loans. Generally interest rates will be very from 18% to 21%. | WCF are relatively cheaper than the Business Loans. Generally interest rates will be vary 13% to 15% as per bank internal policy. |
| Minimum of 3 years vintage will be required for the business loans. | Min of 1 year vintage for calculation of eligibility will require for WCF. |
| Generally Business Loans will be used for unexpected requirement in business.. | WCF will be used for regular activities of business. |
| Loan disbursement will be max 7-15 days from the date of application. | Min of 15 days to max of 90 days will require for process the WCF request from the date of application. |
| Banks/Financial Institutions will prefer to provide the business loans to WCF customers. | Banks will prefer to take more collateral to fund the WCF. |
| Interest will be on total loan outstanding and will be calculated on monthly basis. | Interest will be calculated on daily basis outstanding and will be debited in account on monthly basis. |
About Raipur
Raipur is a city in the Raipur district of the Indian state of Chhattisgarh. It is the capital city of the state of Chhattisgarh and is the administrative headquarters of Raipur district. It is also the largest city in Chhattisgarh. It was formerly a part of Madhya Pradesh before the state of Chhattisgarh was formed on 1 November 2000. Naya Raipur is the upcoming business hub in Chhattisgarh promoted by the state government.Raipur has been in existence since the 9th century; the old site and ruins of the fort can be seen in the southern part of the city. Raipur district is important historically and as a point of interest archaeologically. It is believed that King Ramachandra established the city of Raipur and subsequently made it the capital of his kingdom.
Another story about Raipur is that King Ramachandra's son Brahmdeo Rai had established Raipur. His capital was Khalwatika (now Khallari). This region had become the domain of Bhosle kings after Amarsingh Deo's death. With the death of Raghuji III, the territory was assumed by the British government from Bhonsla'a of Nagpur and Chhattisgarh was declared a separate division, the Chhattisgarh Division of the Central Provinces, with its headquarters at Raipur in 1852. At the time of the independence of India Raipur district was included in the Central Provinces and Berar.
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Places To Be Visited In Raipur
Mahant Ghasidas Memorial Museum
This museum is located near the D K Hospital in Raipur and was established by Raja Mahant Ghasidas of Rajnandgaon in the year1875. The museum has two floors featuring five galleries and features different sections including archaeology, anthropology and natural history. Besides, it also displays crafts, jewelry, paintings and terracotta belonging to tribal culture. The museum also has an interesting library.
Doodhadhari Monastery and Temple
The temple located in the southern region of Raipur. An ancient river called Maharajbandh flows by this landmark. This ancient temple was built by King Jaitsingh in mid-17th century and dedicated to Lord Rama. The temple feature stunning murals. There is also a monastery that was named after Swami Balbhadra Das who survived only on 'Doodh' (milk) as his food. You can also find the memorials of the ex- Mahants (ministers) here.
Mahamaya Temple
Located in the old fort area of Raipur on the banks of the river Khaaroon, this temple is a must visit for the pilgrims. It is dedicated to Mahamaya - a revered Hindu goddess believed to be a blend of the powers of Vishnu and Shiva. Durga and Mahishasura Mardini or Jagdambe are the other names by which this popular deity is known as.
Budhapara Lake
It is a magnificent lake and is also one of the prime tourist attractions in Raipur. The lake was built by the Kalchuri emperor King Brahmadeo around 1402 AD.
Vivekananda ashram
It is an important place of tourist interest for those who seek spiritual enlightenment and is a branch of the mission inaugurated by Swami Vivekananda in the year 1897. The organization works on the principles of ideologies that are based on renunciation and self-emancipation and attempts to achieve the overall well being of the world.
Shaheed Smarak Complex
It is a remarkably conceptualized structure designed by the architect Prasanna Kothari that should not be missed out on a tour to Raipur. It is a memorial dedicated to the Indian freedom fighters that consists of a massive auditorium, library, museum and an art gallery.