Capital is the backbone of every business, whether a newly launched small business or a well-established one. Companies may need funds from time to time to address a number of financial needs, some of which include:
- Purchasing equipment
- Managing business operations
- Procuring raw materials
- Renting a new office space
- Meeting payroll expenses
On Bajaj Markets, you can get business loans from various leading financial institutions and manage your requirements effortlessly. You can get the required funding at affordable interest rates with flexible repayment plans.
Features and Benefits of Business Loans
Here are some top advantages of availing of a business loan on Bajaj Markets:
Substantial Loan Amounts
On this platform, you can get ample funding of up to ₹50 Lakhs to cover the planned and unexpected requirements of your business without delay. After assessing the amount you require, explore loan options from reputed partner financial institutions. You can choose an option like the Bajaj Finserv Business Loan or any other lender matching your requirements.
Competitive Interest Rates
Another significant advantage of applying for a business loan through this platform is that you can get loans at lower interest rates. On this marketplace, you can explore various business loan options, compare the interest rates, and choose an option with the best terms.
Flexible Repayment Tenures
You also get the benefit of choosing a convenient repayment tenure for your business loan. You can repay the borrowed amount over a maximum tenure of 6 years conveniently via EMIs. Assess your income stream and financial liabilities and then decide on a suitable repayment timeline.
Quick Processing and Disbursal
Another great benefit of choosing this platform when opting for a business loan is that the application is processed quickly. This allows you to get the funds credited to your bank account on time. This way, you will miss out on time-sensitive payments and business opportunities.
No Requirement of Collateral
You do not need to pledge any collateral as security when opting for a business loan on this platform. This allows you to get the required funding without risking your assets. In addition to that, the eligibility criteria are simple and the documentation requirements are also minimal.
Interest Rates of Business Loans
Check this table out to know the interest rates of business loans on this platform:
| Name of the Lending Partner | Minimum Interest Rate | Maximum Loan Amount | Maximum Loan Tenure |
| Protium Finance Limited | 1.25% p.m. | ₹50 Lakhs | 72 months |
| Bajaj Finance Limited | 9.75% p.a. | ₹30 Lakhs | 72 months |
| FlexiLoans | 12% p.a. | ₹50 Lakhs | 36 months |
| Lendingkart Finance Limited | 12% p.a. | ₹35 Lakhs | 36 months |
| Indifi | 16% p.a. | ₹50 Lakhs | 36 months |
| IIFL Finance | 18% p.a. | ₹30 Lakhs | 60 months |
| KreditBee | 18% p.a. | ₹4 Lakhs | 9 months |
| Ambit Finvest | 20% p.a. | ₹50 Lakhs | 36 months |
| InCred | 20% p.a. | ₹3 Lakhs | 48 months |
| Credit Saison | 22% p.a. | ₹10 Lakhs | 3 Years |
| AYE Finance | 28% p.a. | ₹2 Lakhs | 36 months |
Disclaimer: The business loan interest rates are subject to change as per changes in the policies of the financial institutions.
Eligibility Criteria for Business Loans on Bajaj Markets
To qualify for the business loan, you need to meet the following eligibility criteria:
- You must be an Indian citizen
- You must be a self-employed professional, such as a doctor or a chartered accountant
- You must be a self-employed non-professional, like a trader or a manufacturer
- Your age must range between 25 and 65 years
- You must be involved in partnerships, limited liability partnerships, or private limited companies
- You need to have at least 3 years of business experience in your current venture and a total of at least 5 years of business experience
- Your minimum annual income, as per Income Tax Returns (ITR), should be ₹1.5 Lakhs per annum
Documentation Requirements for Business Loans on Bajaj Markets
You also need to submit the following paperwork to get the business loan:
- Identity Proof: PAN card, Aadhaar card, passport, voter’s ID, driving licence, etc.
- Address Proof: Aadhaar card, utility bills, passport, lease agreement, etc.
- Business Proof: Declaration of Sole Proprietorship, authenticated copy of the Partnership Deed, certified copies of Memorandum of Association and Article of Association
- Income Proof: Bank statements for the last 6 months and Income Tax Returns (ITR) along with certified copies with all the details like Profit and Loss (P&L) statement, income computation, and balance sheet for the last 2 years
Steps to Apply for Business Loans on Bajaj Markets
Follow these steps to apply for a business loan:
- Visit the website or download the Bajaj Markets loan app on your smartphone
- On the homepage, choose ‘Business Loans’
- Explore and choose a specific lender and click on ‘Apply Now’
- On the new page, fill out the required information and click on ‘Check Your Offer’
Adequate funding at the right time can help you tap into lucrative opportunities and support the growth of your business. So, explore multiple business loan offers from various financial institutions and apply conveniently.
