Translate

Business Loan For Women

Home > Digital Ecosystem > II. Mentorship > Enlightener Series > Business Loan For Women

Status: Active

Classification: Public Sector Scheme

Release Date(s):
20th August 2022
17th February 2021

Offering: Loan/Credit

Entity Type: NBFC

Reading Time: 5 Mins

Ticket Size: Upto ₹45 Lakhs

Entity Name: Bajaj Finance Limited

#Views: 62

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this email.

 

About the scheme…
Business Loans for Women was launched by Bajaj Finance Limited (Bajaj Finance) to support women entrepreneurs to meet their unique financial needs.

 

How is it being implemented?

Under Business Loan for Women, direct financial assistance, in the form of loans, is given to

  • Women entrepreneurs engaged in manufacturing, trading, retailing, or service activities
  • Self-employed women (professionals or non-professionals)

 

What’s on offer?
I. Product: 

  • Term loans
  • Ticket size upto ₹45 Lakhs
  • Option to avail Flexi Loan facility whereby one can opt to borrow from one’s loan limit as needed and pay interest only on limit utilized. One can even opt to pay interest-only EMIs to reduce monthly outgo by 45% to maintain healthy business cash flows. For information around this, please contact Bajaj Finance via means mentioned below

II. Purpose:

  • Acquisition of fixed assets
  • Working capital requirements

III. Borrower Type

  • Individuals (24-72 years, age should be 72 years at loan maturity), Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company, closely held Limited Company, other constitution types depending on their profile on a case to case basis

IV. Security or Collateral or Guarantee or Insurance

  • Nil security or collateral or guarantee
  • For information around hypothecation of assets created out of Bajaj Finance’s finance, please contact Bajaj Finance via means mentioned below
  • For information around requirement of insurance, please contact Bajaj Finance via means mentioned below

V. Interest Rate

  • Bajaj Finance’s typical small business loan rates are 17% per annum onwards
  • However, Business Loans for Women are offered at nominal rates of interest. For information around this, please contact Bajaj Finance via means mentioned below

VI. Processing fee

  • Upto 2% plus applicable taxes
  • Additionally, document processing charges of ₹2,000 plus applicable taxes

VII. Margin money requirement

  • For information around margin money requirement, please contact Bajaj Finance via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

  • Tenure: upto 84 months
  • For information around penal charges, additional maintenance charges, foreclosure charges, part-prepayment charges, please scroll through here

IX. Turnaround Time

  • Loan amount is disbursed within 24 hours of loan approval. To get loan approval, one must meet the eligibility criteria, fill the online application form and submit required documents

 

Interested? Read ahead to check your eligibility….

I. Are you, the applicant, a Resident Indian Citizen of age between 24 – 72 years (age should be 72 at loan maturity)?

II. Are you currently self-employed and has the business you own been running for at least 3 years?

III. Is your CIBIL score 685 or higher?

If your answers to the questions above are an emphatic YES, you are all set to avail loans under Bajaj Finance’s Business Loan For Women!

 

So…how big is this scheme and what has been done so far?

I. Details for Bajaj Finance’s Business Loans for Women don’t seem to be available in the public domain

 

So, now, how should you go about it?

I. For submitting application:

  • Apply online here following which a Bajaj Finance’s representative will get in touch to inform about your business loan offer
  • Visit Bajaj Finance’s nearest branch. They have 2,814 branches located pan-India. Find one here

II. For information on indicative list of documentation that would be required, please click here

III. For any queries,

Please contact Bajaj Finance 24/7/365 on phone at +91 8698010101

OR

Raise a query online here

OR

Explore various self-service options here

OR

Visit their nearest office. They have 2,814 branches located pan-India. Click here to find an office nearest to you

 

Go on then…and do spread the word!

 

Sources:

  1. About the Scheme 1
  2. About the Scheme 2
  3. Bajaj Finance’s Latest Investor Presentation
  4. Bajaj Finance’s Annual Report 2021-22
  5. Bajaj Finance’s Latest Credit Rating Report

Did you find this article helpful?

Or

Latest in Enlightener Series

0
0
0
0
error: Content is protected!!

Join our exclusive community for Women Entrepreneurs (& aspiring ones!)

To join our WhatsApp Community, click 👉 https://chat.whatsapp.com/JyWvBECvQcB5Z7mnciPUzK To join our Telegram Community, click 👉 https://t.me/+692akHHVXj00MjY1 To join our Mailing List, click 👉 https://www.surveymonkey.com/r/46XXMailingList To join our Social Media Community, click 👉https://linktr.ee/team46xx
We will confirm.