Bajaj Finserv business loans witnesses a 23 percent growth

Pune : Bajaj Finserv has been witnessing a sharp growth in the business loans category in the recent past. The company acquired more than 50,000 new SME customers from 350 cities across the country and reported a 23 percent growth in the first quarter of FY' 18.

Through its lending arm, Bajaj Finance Ltd, Bajaj Finserv offers small and medium enterprises short-term loans, intermediate-term loans or long-term loans up to 30 lakhs by filing the basic details and submitting required documents. Business Loan by Bajaj Finserv is characterised by competitive interest rates and flexible repayment options which gives the necessary boost to businesses. Entrepreneurs planning to invest in infrastructure, expand operations, buy equipment or inventory, or even to increase their working capital can opt for business loan by applying on company's website.

Bajaj Finserv also offers 'Line of Credit', a credit facility allotted to consumer for a specified amount to all its business loans applicants. Applicants are free to withdraw any amount within the liable limit and pay interest on the amount used. The company through its hassle free and convenient processes offers consumer friendly financing options with no excessive interest rate burden.

Line of Credit: key features

• Lower EMI: Consumer don't start paying interest charges until withdrawal, hence the installments are likely to be of a much lower

• Repayment tenure: Consumer gets to choose the withdrawal amount as well as the repayment tenure that ranges between 24 to 60 months

• No collateral: Line of credit is one of the few financing avenues that require no proof of assets or collateral against the loan amount

• No hidden costs: Consumer is not expected to pay any fees on withdrawals. Also, there are no limits on the number of withdrawals.