Low interest rates along with flexible repayment options are just some of the benefits of the business loan offered by Bajaj Finserv. A business loan from the NBFC will help in boosting your business thereby improving the competitiveness and overall productivity. Business loans help to expand a business’ scale of operation by bringing tremendous changes. With a business loan, you can upgrade your existing machinery and might as well bring new machinery to enhance the productivity.
Why applying for a business loan from Bajaj Finserv is beneficial?
Line of Credit: When you apply for a business loan from Bajaj Finserv, it allows you to avail a line of credit feature. A line of credit is also known as a flexi line. It is a unique credit facility provided to the loan applicants wherein the prospective borrowers are provided with a certain credit limit for a particular duration. The monthly instalment that is to be paid for the line of credit comprises of interest amount only and not the principal amount. The biggest feature of the line of credit is that you do not have to pay the interest on the entire amount provided but only on the amount which you utilise.
Loan Amount: Bajaj Finserv provides a considerably high rate of interest with the amount of up to INR 30 Lakh. Regardless of your loan tenor- small, intermediate or long, you can utilise this amount to invest in infrastructure upgrade, machinery purchase, expanding operations and so on.
Collateral Free Loan: The most intriguing part about the business loan offered by Bajaj Finserv is that they offer a collateral free loan. Herein, you do not have to put your personal assets or business assets on the line. You can qualify for financing without worrying about collateral. Since the collateral aspect is not in the picture, there is no need for your asset’s value appraisal. Another advantage is that since the collaterals are not involved, funding is much quicker than usual.
Flexi Loans: Bajaj Finserv allows you to avail a loan amount more than what you are eligible for. The best part about flexi loans offered by Bajaj Finserv is that you have to pay interest only on the amount that you borrow.
Pre-approved offers: As an existing Bajaj Finserv customer, you can get pre-approved offers with added benefits. These benefits might come up in the form of top-up loans and reduced rate of interest.
Online Access: The best part about applying for a business loan from Bajaj Finserv is that you get online access to your loan from anywhere, anytime. Your loan details are just a few clicks away. It makes managing a loan quite easy.
Having talked about the benefits of a business loan from Bajaj Finserv, let us understand as to how you can use a business loan:
- Working Capital – Working capital is essential for the proper functioning of the business. Enterprises need a financial injection on a daily basis to meet the daily operational needs.
- Expansion of Business – A business loan can help you expand your scale of business without burdening yourself with financial stress.
- Equipment Purchase – A business loan proves to be quite helpful when you want to buy new equipment. An equipment can improve the productivity tremendously. Thus, a business loan can improve productivity in your enterprise.
- Improving infrastructure – it is not just about the machinery and the equipment, sometimes it is the infrastructure which needs tweaking as per the need.
The points mentioned above are few of the many options you have when it comes to optimum utilisation of business loans from Bajaj Finserv.