✔️For what purposes a Business Loan can be availed?

A Business Loan can be availed for purchasing raw materials, machinery, expanding your current operations, for working capital requirements etc.

✔️Are there any Business Loans for women entrepreneurs?

Yes, most banks and NBFCs provide Business Loans specifically designed for women entrepreneurs.

✔️What is the maximum age of availing a Business Loan?

The maximum age of availing a Business Loan is usually 65 years.

✔️Can I cancel a Business Loan after the loan amount is disbursed?

Though it usually depends on the policies of the banks/NBFCs, it usually not allowed to cancel the loan after disbursal.

✔️Does GST (Goods and Service Tax) impact Business Loans?

Yes, GST has an impact on Business Loans. You must pay a certain portion as GST when you avail the loan.

Apply for Business Loan

Business Loan at Bajaj MARKETS

Business Loan is an unsecured loan, which provides you with financial assistance for your business requirements. Since it’s an unsecured loan, you need not pledge any collateral/security. Be it starting a new business or expanding the current operation of your existing businesses to a new location, Business Loan available on Bajaj MARKETS will always help you fulfill your requirements.

Requirement for Online Business Loan Application

There are certain requirements with respect to the online Business Loan application that you must fulfill in order to avail the loan. Here are the following :

Eligibility Criteria :

Following are the criteria that you must fulfill, to apply for a Business Loan :

You must be an Indian citizen and a self-employed individual.
You must be between 25-65 years of age.
You must have a business vintage of at least 3 years.

Documents Required :

Aadhaar Card/Passport/Driving License
PAN Card
Bank Statement - Last 3 months
Business Proof : Certificate of business existence, Income tax filings for the previous financial year, profit and loss statements for the past 3 years, etc.

Business Loan Verification process

The main steps involved in the Business Loan verification process are as follows :

Step 1 :

Once you submit your application, the same will be processed for further actions.

Step 2 :

Once your online application is completely processed, all you need to do is schedule a meeting, wherein our executive will verify the application details and collect your necessary documents, required for further processes.

Step 3 :

Once the documents have been verified, your loan will be disbursed in just 24 hours.

Comparison

Partner Name

Key Feature

Key Feature Description
Bajaj Finance Limited

Interest Rate

Starting from 17%
Bajaj Finance Limited

Associated Charges

Processing Fees : upto 2.75% of the loan amount

Foreclosure Charges : 4% of the outstanding loan amount + Applicable taxes
Bajaj Finance Limited

Repayment tenure

12-60 months
Bajaj Finance Limited

Eligibility Criteria
1. The applicant must have a business vintage of at least 3 years.
2. The applicant must be the citizen of India The applicant’s age must be between 25 and 65 years.
3. He must be a self-employed individual.
4. The applicant must have a business vintage of at least 3 years.
Bajaj Finance Limited

Documents Required
1. Copies of IT returns of last 2 years
2. Identity Proof : PAN/Voter ID
3. Address Proof : Aadhaar Card/Driving License/Passport
4. Bank Statement of last 6 months
Bajaj Finance Limited

Disbursal Time

24 hours
Fullerton India

Interest Rate

17% p.a onwards
Fullerton India

Associated Charges

Processing Fees : Up to 6.5% of the loan amount

Foreclosure Charges : 0-7% of the outstanding loan amount
Fullerton India

Repayment tenure

12-60 months
Fullerton India

Eligibility Criteria
1. The applicant must be in the current business for at least 3 years and have a total experience of 5 years.
2. The applicant’s age must be between 22 and 65 years.
3. He must be a self-employed individual.
Fullerton India

Documents Required
1. Proof of continuation (ITR/Trade license/Establishment/Sales Tax Certificate)
2. Identity Proof : PAN/Voter ID
3. Address Proof : Aadhaar Card/Driving License/Passport
4. Bank Statement of last 6 months
5. Copies of IT returns of last 2 years
Fullerton India

Disbursal Time

24 hours
KreditBee

Interest Rate

15% to 28%
KreditBee

Associated Charges

NA
KreditBee

Repayment Tenure

Up to 9 months
KreditBee

Eligibility Criteria
1. The applicant must be a citizen of India.
2. The applicant must be above 21 years.
3. The minimum salary of the applicant must be Rs. 10,000 per month.
4. Aadhaar Card of the applicant must be linked to his/her mobile number.
KreditBee

Basic Documents Required
1. ID proof: PAN Card
2. Income proof: Bank statement/Salary slip
3. Address proof: Aadhaar card, Driving license, Voter ID, Passport, Bank passbook
4. Proof of Employment
KreditBee

Disbursal Time

15 mins
FlexiLoans

Interest Rate

Starting at 12% p.a.
FlexiLoans

Associated Charges

Processing fee: 1.5% - 2.5% of the loan amount
FlexiLoans

Repayment Tenure

12 - 36 months
FlexiLoans

Eligibility Criteria
1. The applicant’s age must be between 21 and 65 years.
2. The annual turnover of the business must be at least Rs. 12 Lakhs.
3. Business vintage of at least 1 year is mandatory.
FlexiLoans

Basic Documents Required
1. PAN card
2. Address proof: Rental agreement/Driver's license/Voter's ID/Ration card/Aadhaar Card/Passport
3. Current account bank statement of last 6 months
4. GST registration certificate/Shops and establishment certificate
5. Audited financials of last 2 years, ITR of last 2 years, GST Returns of past 6 months (if the loan amount is greater than Rs. 20 lakhs)
FlexiLoans

Disbursal Time

48 hours
IIFL Digital

Interest Rate

16.50% - 27.50% p.a.
IIFL Digital

Associated Charges

Processing fee: 2.50% - 4% of the loan amount +GST
IIFL Digital

Repayment Tenure

Up to 60 months
IIFL Digital

Eligibility Criteria
1. The applicant must be a resident of India.
2. The applicant must be between 23-60 years.
3. The applicant must have a minimal CIBIL Score of 700 or be a new-to-credit customer.
IIFL Digital

Basic Documents Required
For Up to 10 Lakhs
1. Selfie
2. PAN Card
3. Address proof – Aadhaar/Passport/Voter ID
4. Business vintage proof and continuity proof- GST certificate/FSSAI certificate/Trade license/Shop and establishment certificate, import export certificate/Udyog and Udyam Aadhaar/Hospital registration certificate/Drug license
5. Latest 6 months bank statements
Above 10 lakhs
1. Address proof - Utility bill/registered rent agreement along with other documents mentioned above
IIFL Digital

Disbursal Time

Up to 48 hours* (case to case basis)
AYE Finance

Interest Rate

28%-29.5% p.a.
AYE Finance

Associated Charges

Processing Fee: 2.5% of Loan Amount + Applicable Govt. Taxes

Foreclosure Charges: 7% of Loan Amount + Applicable Govt. Taxes
AYE Finance

Repayment tenure

Up to 36 months
AYE Finance

Eligibility Criteria
1. The applicant must be a citizen of India.
2. The applicant must be in the age group of 21-59 years.
3. The applicant must have a business stability of 3 years.
4. Permanence of residence and business location of 3 years is mandatory.
5. The applicant’s residential and business address must be in the same city.
AYE Finance

Basic Documents Required
1. Aadhaar Card
2. Voter ID or PAN card
3. Utility Bills (E-bill or water bill)
4. Banking Statement of last 6 months
AYE Finance

Disbursal Time

Within 7 days
Indifi Term Loan

Interest Rate

18% to 35% per annum (Reducing rate basis)
Indifi Term Loan

Associated Charges

Processing fee: 3% of the loan amount + GST

Foreclosure charges: 4% of principal outstanding

Prepayment Charges- No charges if done before 27th of the month*
Indifi Term Loan

Repayment Tenure

12 – 36 months
Indifi Term Loan

Eligibility Criteria
1. The applicant must be between 22-60 years.
2. The annual turnover of the business must be at least Rs. 12 Lakhs.
3. Business vintage of at least 1 year is mandatory.
Indifi Term Loan

Basic Documents Required
1. PAN Card
2. Aadhaar Card
3. Address proof of promoter(s) and firm
4. Business registration proof
5. Bank Statement of last 6 months
6. Latest ITR – (If loan amount is greater than 15 Lakhs or if banking turnover is greater or equal to Rs. 1.5 Crores)
Indifi Term Loan

Disbursal Time

Up to 48 hours (Loan offer sanction)
Olyv - Formerly SmartCoin

Interest Rate

2% - 2.5% per month
Olyv - Formerly SmartCoin

Associated Charges

Subject to profile
Olyv - Formerly SmartCoin

Repayment Tenure

2 - 9 months
Olyv - Formerly SmartCoin

Eligibility Criteria
1. The applicant should be a self-employed individual
2. The applicant must be between 24 and 45 years
3. The applicant must have a monthly income above Rs. 25000
Olyv - Formerly SmartCoin

Basic Documents Required

Identity proof (PAN/Aadhaar Card/Voter ID/Passport)
Olyv - Formerly SmartCoin

Disbursal Time

5 mins – 10 mins
Ambit Finvest

Interest Rate

20%-36% p.a.
Ambit Finvest

Associated Charges

Processing Fee: 2% of Loan Amount
Ambit Finvest

Repayment Tenure

12 - 36 months
Ambit Finvest

Eligibility Criteria
1. The applicant must be in the age group of 25-60 years.
2. The applicant must have a CIBIL score above 675.
3. Business vintage of more than 3 years is required.
Ambit Finvest

Basic Documents Required
1. GST Number
2. KYC Documents (PAN Card/Aadhaar Card/Passport/Voter's ID)
3. Bank Statement
Ambit Finvest

Disbursal Time

Within 24 hours
InCred

Interest Rate

1.5% to 3% per month
InCred

Associated Charges

Processing fee: 2%-4% of the withdrawal amount
InCred

Repayment Tenure

3 to 12 months
InCred

Eligibility Criteria
1. The applicant must be a citizen of India.
2. The age of the applicant must be between 21 and 55 years.
3. The applicant must be a salaried individual whose monthly income ranges from Rs. 15,000 to Rs. 50,000.
InCred

Basic Documents Required
1. PAN Card
2. Identity Proof: Aadhaar card/Voter ID/Driver’s license/Passport
3. Bank statements of past 3 months
InCred

Disbursal Time

4 Hours
Protium

Interest Rate

1.25% p.m. onwards
Protium

Associated Charges

Processing Fee: 1% onwards

Preclosure Fee: 4% onwards
Protium

Eligibility Criteria
1. The business should fall under the category of partnership, private limited company, or sole proprietorship
2. The applicant must have a bank account (current and savings), net banking access or ePDF
3. The applicant must have an Aadhaar-linked mobile number
Protium

Documents Needed
1. PAN Card
2. Aadhaar Card
3. Address proof of self and business
4. Business Proof
Protium

Loan Amount

Up to ₹50 Lakhs
Protium

Repayment Tenure

Up to 6 years
Protium

Disbursal Time

Within 3 days
Privo

Interest Rate

9.99% p.a. onwards
Privo

Associated Charges

Processing Fee: 1%-3% of the loan amount +GST

Foreclosure Charges: Zero

Prepayment Charges: Zero
Privo

Repayment Tenure

3 months to 60 months
Privo

Eligibility Criteria
1. The age of the applicant must be between 21 and 57 years.
2. The applicant must have a minimum monthly income of Rs. 20,000.
3. The applicant must have a minimum CIBIL Score of 700.
4. The applicant must be an Android user.
Privo

Basic Documents Required

Aadhaar Card, PAN Card and Bank statement
Privo

Disbursal Time

Less than 5 mins
Ambit BOL HTS

Interest Rate

20%-36% p.a.
Ambit BOL HTS

Associated Charges

Processing Fee:Up to 3% of Loan Amount
Ambit BOL HTS

Repayment Tenure

12 - 36 months
Ambit BOL HTS

Eligibility Criteria
1. The applicant must be in the age group of 23-65 years.
2. The applicant must have a CIBIL score above 675.
3. Business vintage of more than 3 years is required.
Ambit BOL HTS

Basic Documents Required
1. GST Number
2. KYC Documents (PAN Card/Aadhaar Card/Passport/Voter's ID)
3. Bank Statement
Ambit BOL HTS

Disbursal Time

Small-ticket loans - Within 24 hours

High-ticket loans – Within 48 -72 hours
Kissht

Maximum Loan Amount

₹2 Lakhs
Kissht

Interest Rate

18% p.a. onwards
Kissht

Associated Charges

Processing Fee: 0.99% onwards

Foreclosure Charges: Nil
Kissht

Repayment tenure

Up to 2 years
Kissht

Eligibility Criteria
1. Applicant should be either a salaried or a self-employed individual
2. Applicant should fall under the age bracket of 21 to 50 years
3. Applicant should have a monthly income of at least ₹15,000
Kissht

Documents Required
1. PAN card
2. Aadhaar card
Kissht

Disbursal Time

5 minutes
Credit Saison BOL HTS

Interest Rate

22% p.a. onwards
Credit Saison BOL HTS

Processing Fees

2.5% onwards
Credit Saison BOL HTS

Preclosure Fees

5% of the outstanding principal amount
Credit Saison BOL HTS

Maximum Loan Tenure

Up to 3 years
Credit Saison BOL HTS

Loan Amount

Up to ₹10 Lakhs
Credit Saison BOL HTS

Disbursal Time

Within 2 working days
MoneyView

Interest Rate

Starting from 1.33% per month (16% per annum*)
MoneyView

Associated Charges

Processing Fee/Felicitation Charges: Starting from 2% of the approved loan amount

Cheque Bounce: Rs. 500 for every bounce
MoneyView

Repayment tenure

3-60 months
MoneyView

Eligibility Criteria
1. The applicant should be a salaried or self-employed individual.
2. The applicant must be between 21 and 57 years.
3. The applicant must have a monthly salary of at least Rs. 13500*.
4. The applicant’s salary/income should be credited in his/her bank account.
MoneyView

Basic Documents Required
1. Identity proof (PAN or Aadhaar Card)
2. Address proof
3. Bank Statement/Income Proof
MoneyView

Disbursal Time

Within 6 hours
SMFG India Credit

Loan Amount

Up to ₹2.5 Lakhs
SMFG India Credit

Interest Rate

11.99% p.a. onwards
SMFG India Credit

Associated Charges
1. Processing Fees: 3%
2. Foreclosure Charges: 3%
3. Part Pre-payment Charges: 3%
SMFG India Credit

Repayment tenure

Up to 36 months
SMFG India Credit

Eligibility Criteria

The applicant must have a CIBIL Score of at least 730
SMFG India Credit

Disbursal Time

Instant*
L&T Financial Services Business Loan

Interest rate

15.50% p.a. onwards
L&T Financial Services Business Loan

Associated Charges
- Processing Fee: 2% onwards + GST
- Foreclosure Charges:
L&T Financial Services Business Loan

Eligibility Criteria
1. The business must have a vintage of at least 3 years
2. The applicant must fall under the age bracket of 24 to 65 years
3. The applicant should be a self-employed non-professional like a manufacturer, trader, or service provider
L&T Financial Services Business Loan

Documents Needed
1. KYC documents of borrower and co-borrower (if applicable)
2. Bank statements of the last 6 months
3. Business financial statements of the last 6 months
4. Ownership Proof
5. Proof of business continuity
L&T Financial Services Business Loan

Loan Amount

Up to ₹75 Lakhs
L&T Financial Services Business Loan

Repayment Tenure

Up to 60 months

Contact

020-66399444 ( Mon to Sat - 10 am to 6 pm )

Address

4th Floor, B2 Building, Cerebrum IT Park, Kumar City, Kalyani Nagar, Pune – 411014.