Bajaj Finserv has emerged as one of the top lenders when it comes to business loans in India and not without a reason. Apart from the banks, it is one of the best NBFCs that have customized options in place for business loans not only to established businesses, but also for various small and medium enterprises. In fact, the growth of SMEs in the last decade or two has greatly helped the economy and the economy of the rural and the semi- rural areas have also largely improved. For residents in Agra, similar benefits exist when someone applies for a business loan in Agra. Here are some of the things they can enjoy.
- Flexible Repayments: Bajaj Finserv is one of the few lenders in the market that have a very good flexible repayment option in place through their flexi- loan schemes. These loans can help a small business owner greatly because not all businesses start making a profit at the very beginning. Making a profit requires time and effort and the flexible options give them the opportunity to repay the loan according to their convenience. Bajaj also has a Interest only Flexible loan scheme in place where the borrower can keep on making the interest payment only and the principal amount can be repaid at the end of the tenure.
- Tax Savings: By opting for a small business loan, one can ensure that they save a considerable sum of money which would have otherwise gone towards paying the taxes. According to the IT Act, the portion of the profit that goes towards repayment of loan is exempted from taxes and so a borrower actually stands a chance to make a very good profit. This amount can either be utilized for the betterment of the company or to offer a better lifestyle for the family. Depending on the amount of the loan, the tax savings can be lump sum indeed.
- Reduced Interest rates: Bajaj Finserv has one of the lowest business loan interest rate in India and they start from about 18%. It could go up if the lender has a bad credit score, but if all the pre- requisites of applying for a loan are met and the borrower has a strong financial history, then he stands a very good chance of enjoying the lowest ever interests. This greatly reduces the financial burden of the borrower and it becomes very easy for him to pay off the loan comfortably when the company starts to make a profit in the long run.
- Minimal Documentation: Bajaj Finserv needs minimal documentation to approve the quick business loan and that too mostly at the last stage for verification purposes. They understand that many businessmen apply for the loan when they are in dire need for money for their business so they strive to make the process as easy and hassle free for the borrower as possible. The loan application can also be made online. The documents required are most the TAN and the business proof of the owner of the business, the KYC documents and the IT returns and the bank details of the last three consecutive years.
Pre- Approved Offers: Customers from Bajaj Finserv can also avail a number of pre- approved offers and they can greatly benefit them in the long run, if the businessman is in need of another loan again. Pre- approved offers can often be in the form of reduced interests over a period of time, longer tenure or a bunch of other offers that will eventually go towards the benefit of the business in the long run. It is also helps strengthens the bond of trust between the borrower and the lender.