Bajaj Finserv Business Loan Interest rates in Rajamundry
| 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 Rajamundry
| 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 Rajamundry 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 Rajamundry
Rajahmundry, originally known as Rajamahendri, is better known as the ‘cultural capital and born city’ of Andhra Pradesh, this is one of the major cities in the Indian state of Andhra Pradesh. It is located on the banks of the Godavari River, in East Godavari district of the state.
This is probably due to the fact that the Telugu language originated here. Poet Nannayya gave Telugu a script here which made it a language. It is the birth place of poet Nannayya, who is also called the first poet of Telugu. Earlier a part of Chennai , the city has River Godavari to its west. It is believed that the Chalukyas were the earliest rulers of the place. Rajaraja Narendra was a Chalukya king who ruled the city during the 11th century.
Places To Be Visited In Rajamundry
DOWLESWARAM BARRAGE
At a distance of 10 km from Rajahmundry Railway Station, Dowleswaram Barrage is an irrigation structure which is built at Dowleswaram, on the lower stretch of the Godavari River before it empties into the Bay of Bengal. The barrage was built by a British irrigation engineer, Sir Arthur Thomas Cotton.
Sir Arthur Cotton Museum
Constructed in 1988, this museum is dedicated to the memory of Sir Arthur Cotton who was the mastermind behind the transformation for the ferocious Godavari river into a tame force useful for irrigation and water supply. He is popularly known as the 'Delta Architect' of the Godavari district. the museum chronicles his work through pictures.
DRAKSHARAMAM
This temple was constructed by the East Chalukyan king during 9th century. The temple also consists one of the Shakti Peethas called Sri Manikyamba. The speciality of this Shiva Lingam in this temple is that, the early morning tender Sun light falls on the Linga. There are nearly 800 ancient scripts on the walls of the temple. The celebrations in this temple were started during 14th century in the period of Reddy Kings. Shiva Lingam is nearly 9 ft height and the top part is seen at the first floor.
Pattiseema
Pattiseema, is a beautiful place located on the banks of river Godavari in West Godavari district of Andhra Pradesh. It is situated between Rajahmundry and Papikondalu and can be reached by road and boat from Rajahmundry. There are two temples in Pattisam, Sri Veerabhadra Swamy, dedicated to Lord Shiva and Sri Bhava Narayana Swamy dedicated to Lord Vishnu. This temple is one of the Panchakasi Kshetras.
Godavari Bund(Bridge)
Built over a sea, it is the second largest road cum rail bridge in the country. It is also the second of the 3 bridges that span across the Godavari River.
Goutami Ghat
Goutami Ghat is one of the premier recreational places in Rajahmundry, it houses ISKCON Temple, Riverbay Resorts and Water park, Ayyappa Temple, Kailash Bhoomi.