Working capital loans are offered by many institutions. The challenge lies in selecting your ideal option from among them. Read on to understand why you should select Working Capital Financing By Bajaj Finserv ie code apply online.
Working capital loans have made it simpler for you to run your daily operations smoothly. They are easy to avail and have faster processing when compared to any other financing option. However, there are a few points you must consider and check before you apply. While searching for lenders, the first thing to check is their interest rates. You should prefer to have a nominal interest rate as it will cut down on your extra cost. The second thing to check is if you meet their eligibility. A few lenders might also check the period for which your business has been active. You have to keep this point in mind because the operational period required differs from lender to lender. The third point to look out for is what are their schemes and how will they be beneficial to you? Will the schemes meet your requirements? It is difficult to find all the points matching your requirements at one particular firm. However, Bajaj Finserv’s Business Loans offer you a working capital loan wherein you have customised features and benefits and low-interest rates.
What are the features and benefits to look for?
Offers you a Line of Credit (LOC):
It is an innovative benefit offered to you by Bajaj Finserv that allows you to maintain your cash flow in an effective way. In LOC, you pay only the interest as your monthly EMI.
Offers loans up to Rs.30 lakh:
Working capital loans by Bajaj Finserv offer you a loan of up to Rs.30 lakh so that you can ensure smooth operation of your daily business tasks and meet targets without any setbacks.
Allows you part pre-payment:
This is a customised benefit of Bajaj Finserv wherein you can plan your payments. It allows for part pre-payments and there is no limit on the number of part pre-payments, nor is there any additional charge levied on it.
Requires no guarantor for assurance:
One of the best features of Bajaj Finserv is that it doesn’t require any collateral to be assured of repayment. It has a very transparent policy with no hidden clauses.
Has online access:
The application form for working capital loans is available on the Bajaj Finserv website. You can apply for the loan online and after availing the loan, you can track each and everything about your loan status through their online customer portal.
If you are an existing customer of Bajaj Finserv, you might be qualified for pre-approved offers on your loan that help you get more value for your money.
A few added benefits offered on choosing equipment financing by Bajaj Finserv:
Lets you repay your loan through their Electronic Clearing System (ECS) wherein every month the EMI is transferred electronically from your personal account to your loan account.
Gives you the flexibility to turn your existing term loan into the line of credit.
It levies no charge on the withdrawal of money.
What are the eligibility criteria that you must ensure?
If your company/business falls into the following categories, then you might be eligible for a working capital loan.
If your company is a limited or a private limited company.
If you have a partnership or proprietorship firm.
If you are a self-employed professional. Chartered accountants, architects, interior designers, allopathic doctors or those who are practicing their profession fall under this category.
Self-employed non-professionals like traders, manufacturers, and retailers are eligible for the loan.
What are the documents required?
Completely filled application form.
Your passport sized photographs.
Business vintage proof of 3 years.
Certificate of business practice.
Bank account statement of the previous month(s).
Also Read: Everything You Should Know About Working Capital Loans
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