Attractive Interest Rate with 50% off on Processing Fee

Attractive Interest Rate with 50% off on Processing Fee

If you are planning to buy a home, a home loan will be quite useful to meet your financial requirements.
And if you are on the lookout for quick financing, Bajaj Finserv has a solution for you. Presenting Super Money Days – a special loan festival from 2nd September to 18th September – where you can get a Home Loan Balance Transfer with high top up loan.

Not only do you get Home loan upto 3 crore but for a limited period of time, you will get 50% off on the processing fee.  Get attractive interest rate of 8.35% on a Home Loan Balance Transfer with Bajaj Finserv.

There are numerous offers on Home Loans, Business Loans – for Manufacturers,  Traders, and Services, as well as Professionals Loans — our customised loan offerings for Doctors, Chartered Accountants, and Engineers as well!

Get the best deals on Personal Loan and Line of Credit

Get the best deals on Personal Loan and Line of Credit

Be it for a medical emergency or a home improvement project, an impromptu travel plan or to finance a wedding, a personal loan and a line of credit are two of the most useful ways to meet your financial requirements.

And if you are on the lookout for instant financing, Bajaj Finserv has a solution for you. Presenting Super Money Days – a special loan festival from 2nd September to 18th September – where you can get the money you want in the fastest way possible.

Not only do you get instant approvals on personal loans up to Rs.25 lakh, disbursals in 48 hours, and a wide range of other benefits, but you also get to take home shopping vouchers from Amazon and a chance to win a holiday for two to Spain!

There are numerous offers on Home Loans, Business Loans – for Manufacturers,  Traders, and Services, as well as Professionals Loans — our customised loan offerings for Doctors, Chartered Accountants, and Engineers as well!

Simply avail a personal loan or personal line of credit during Super Money Days between 2nd September and 18th September and find the best financing instantly.
Be it for a medical emergency or a home improvement project, an impromptu travel plan or to finance a wedding, a personal loan and a line of credit are two of the most useful ways to meet your financial requirements.

And if you are on the lookout for instant financing, Bajaj Finserv has a solution for you. Presenting Super Money Days – a special loan festival from 2nd September to 18th September – where you can get the money you want in the fastest way possible.

Not only do you get instant approvals on personal loans up to Rs.25 lakh, disbursals in 48 hours, and a wide range of other benefits, but you also get to take home shopping vouchers from Amazon and a chance to win a holiday for two to Spain!

There are numerous offers on Home Loans, Business Loans – for Manufacturers,  Traders, and Services, as well as Professionals Loans — our customised loan offerings for Doctors, Chartered Accountants, and Engineers as well!

Simply avail a personal loan or personal line of credit during Super Money Days between 2nd September and 18th September and find the best financing instantly.

How to know if you are eligible for an Engineer Loan

How To Know If You Are Eligible For An Engineer Loan?

Picture this: A water sanitation company has handed you a contract to build a major wastewater system in one of the suburbs of Lucknow. While that sounds like a great opportunity, it also means that you have to buy new motor pumps, drilling machines and other equipment. You know that this will need more capital. So what will you do? It’s simple-all you have to do is apply for an engineer loan to keep your business running smoothly.

But before you apply, it is important to know your eligibility for an engineer loan. Simply answer these questions to understand your eligibility.

What kind of professional are you?

Are you a self-employed engineer or a consultant? If yes, you are eligible for an engineer loan.

Are you of the right age?

To avail an engineer loan, you must be between the ages of 26 and 65.

Do you have sufficient work experience?

You must have five years of vintage experience post your graduation, and a minimum of three years of experience being self-employed.

Do you have all the basic documents required?

Engineer loans require you to submit certain documents as part of the application process. Make sure you have your papers in order to avoid delays. These documents include:

  • KYC documents
  • Passport-size photographs
  • Business vintage for 3 years
  • Details of your engineering degree
  • Business proof such as a certificate of practice
  • Correctly filled out application form

Once you have met the eligibility criteria and have kept the required documents ready, here’s how you can get your engineer loan even quicker.

Maintain a high credit rating

A good credit rating signifies that your past repayment track record is clear. This means that your loan approval and funds transfer will happen swiftly. If you have a low credit score, simply clear your past debts before you apply for the loan.

Work towards business stability

The more stable your business, the more confident a lender is likely to be about your ability to repay an engineer loan. A widely fluctuating profit graph isn’t the answer, so ensure that your revenue is constant and meets a certain target every month.

There are many benefits of an engineer loan. Take a look at the most important ones below.

Access to the line of credit:

This facility gives you a credit line for your chosen tenor. You can borrow what you need, when you need it and pay interest only on the sum borrowed. Your EMIs are low since they only consist of the interest component of your loan. You can repay the principal at the end of the tenor or make a bullet repayment when you have the funds. You can borrow multiple times to meet fluctuating expenses or pre pay when you can without any penalty.

This facility is convenient when you need funds on an ad hoc basis or can’t predict your monetary requirements.

Availability of funds up to Rs.15 lakh:

Whether it is setting up a workspace or buying materials and equipment for your projects, you can avail up to Rs.15 lakh to use as you deem fit.

Benefit from competitive interest rates and no collateral:

With a loan for engineers, you can enjoy a competitive interest rate. This keeps your EMIs affordable and ensures that your loan is a cost-effective proposition. What makes the deal even sweeter is the fact that you don’t need to provide collateral or a guarantor for engineer loans.

To get started and experience the benefits of an engineer loan, all you need to do is pick the right lender who has simple eligibility criteria, no hidden costs and quick approvals. Apply for Bajaj Finserv’s Engineer Loans and you will be introduced to a loan that offers fast processing, easy online application and nominal interest rates.

Apply for Engineer Loan Online Check your Engineer Loan Eligibility

What are the benefits of availing an Engineer Loan

What Are The Benefits Of Availing An Engineer Loan?

Be it a mechanical, software or an electrical engineering firm—no matter what your firm specialises in, capital is a consistent business need. While conventional loans limit the scope of what you can do with the funds, an engineer loan lets you use the funds as per your requirements.

Take A Look At The Benefits Of An Engineer Loan

It has simple eligibility criteria:

The Eligibility Criteria for Engineer Loans is easy to meet. All you need is to be either a self-employed or consultant engineer between 26 and 65 years of age. Further, you need to have a recognised degree and a minimum work experience of five years post graduation. Out of this five years, a minimum of three years work experience should come from being self-employed.

It is a collateral-free loan:

Loans granted against collateral or security can be cumbersome especially for business owners who are uneasy about risking their assets. Fortunately, engineer loans are collateral-free and don’t require any security. All you need is to meet the eligibility criteria.

It offers attractive interest rates:

One of the main benefits of an engineer loan is that it comes with an attractive interest rate. This is because the loan is meant to support your business venture, which is best done by lowering your EMIs.

It asks for minimum documentation:

The documents for an engineer loan are few in number. All you need are the following:

  • Duly-filled application form
  • Passport-size photographs
  • KYC documents
  • Business vintage proof for 3 years
  • Certificate of practice as a business proof
  • Details of your engineering degree.

It gives you a sufficient loan amount with fast approvals and disbursement:

An engineer loan gives you access to an amount up to Rs.15 lakh, which you can use as per your choice. With online approval in 24 hours and money in your account in 72 hours, it also ensures that your urgent requirements are fulfilled.

It allows you to pay as you go:

With a line of credit facility, this loan gives you convenience and flexibility. Under this facility, you are given a credit limit for your chosen tenor. You can withdraw multiple times within this credit limit and pay interest only on the amount utilised. Your EMIs are composed of only the interest part while you pay the principal amount only at the end of the tenor.

Moreover, you can make prepay your loan amount without any additional charges and lower your subsequent EMIs. Thus, a line of credit will help you meet the fluctuating expenses of your business.

You can give your business the support it needs by taking an Engineer Loan from Bajaj Finserv. It simplifies business financing by offering you a world of benefits. From quick documentation and seamless processing of your loan to easy account access and quick disbursal of funds, this loan covers it all.

Apply for Engineer Loan Online Check your Engineer Loan Eligibility

The Common Mistakes Committed While Investing in Fixed Deposits OR Common Mistake You Probably Didn’t Know You’re Making While Investing in FDs

The Common Mistakes Committed While Investing in Fixed Deposits

Uncertain about which investment option will suit your individual needs in the best possible manner? Actively considering how to apply for FDs? Whatever your situation, if you do go ahead and choose a fixed deposit investment, you need to carefully analyse various facts and features. Remember to review important figures like interest rate on FD as well as the maturity. Along with these factors, it is also important to avoid certain well-known mistakes like not deciding upon a good principle amount, or investing in a single option. Such errors can severely hamper your ability to gain from the investment.

 

fd apply

 

The Various Mistakes You Should Avoid

What do you do when you have no fixed goals for investment? Or have you not studied the market in advance? These qualify as the common mistakes people make before investing. Below are listed more such mistakes that you should avoid:

  1. Not Being Clear About your Goals: This involves having a primary reason for investing. Do you have cash in your bank or savings account that is not being used productively? Or perhaps you have savings that you seek to use for retirement? It is always important to have an objective so that you can plan cleverly for the future and select the right scheme. It can also help provide you with a sense of direction.
  2. Not Performing Relevant Research: Investing in any scheme requires intensive study of the market and the various interest rates. Once you have extensively studied the market on a large scale, only then should you consider investing in FDs. Research also helps you narrow down and choose an option according to your requirements. It enables you to compare various schemes and choose the correct ones.
  3. Choosing Only a Single Option: If you seek to become a seasoned investor and get the highest amounts of financial gains from your investment, it is important to have knowledge of various schemes and invest wisely. A single investment is less likely to give you high amounts of returns so it best to choose more than one scheme.
  4. Not Monitoring and Recording Your Investment: At every stage of the investment, it is important for you to have a clear record of the returns and the account details. It is important to pay attention to your bank statements and passbook entries of the fixed deposit account.
  5. Not Considering Inflation: Inflation is the rise in the rates of commodities and services. Inflation impacts the overall value of money over time. Hence, before investing, it is important to consider inflation and plan and invest a sum that is likely to be valuable in terms of the value of money after the tenor.
  6. Investing in Insurance Simultaneously: No matter how many FDs or investment options you have, it is always necessary to keep aside an insurance policy, apart from investments. These policies help secure your family and loved ones in unforeseen events. This way, in cases of emergency, you always have an insurance policy as a backup option. This will ensure that you do not have to break your deposits or other investments in case the urgent need for cash arises.

If you avoid these mistakes, it is likely that you could gain more rewards from your investment. You can use the FD calculator to calculate the returns of your FD and apply for an FD . Bajaj Finance offers you attractive interest rates and user-friendly features with its rewarding FD scheme.

Know FD Interest Rates

Invest in Fixed Deposit

Switch your home loan to Bajaj Finserv and save big

Interest rates have been dipping of late. But your fixed-interest home loan could prevent you from availing the benefits. A simple solution to this problem is to transfer your home loan to a different lender. And the best time to do so may be now!

Bajaj Finserv, one of the most diversified non-banking financial companies (NBFC) in the country, is offering you a 50% discount on the processing fee when you opt for a home loan balance transfer between 5th September and 11th September.
How you stand to benefit

To avail a 50% discount on the processing fees on transferring your existing home loan to Bajaj Finserv you must:

  • Apply between the offer period of 5th to 11th September
  • The loan amount must be greater than Rs.25 lakh
  • Avail a top-up loan with the balance transfer

Why consider a home loan balance transfer?

You may be on the lookout for lower interest rates. Or, you may want better service. Or maybe you’re looking for a high value top-up loan

The best part is that you can also apply for a top up loan while transferring your home loan! After all, you may need additional funds during the tenor of your home loan. You may need the money to renovate your house or make other purchases. You may even have a medical emergency to take care of. Or perhaps you need the funds to buy a second home. Whatever be the case, your new home loan could help you meet these other needs. When you transfer your home loan, you can avail the extra top-up amount.

The benefits

  1. Lower interest rates:

The home loan balance transfer with a top-up from Bajaj Finserv could ensure lower interest rates.

  1. Drop in EMI or tenor:

If the interest rates drop and the tenor remains the same, the monthly EMI would dip. To pay your loan early, you could retain the EMI amount and reduce the tenor.

  1. Possibility of improving your credit score:

A successful transfer of your home loan implies that your credit score is on track. With lower EMIs or a reduced tenor, you can avoid any delays in payments.

  1. Chance for improved services:

Transfer your home loan to Bajaj Finserv to get facilities like online account access. You also get a three-month EMI holiday, nil foreclosure charges, and more.

  1. Top-up loan benefit

Bajaj Finserv offers top-up loans of up to Rs.50 lakh. Avail these at interest rates that are lower than those for personal loans.

Avail a home loan balance transfer

Approach your new lender and confirm your decision to transfer the existing home loan. Apply for the home loan balance transfer with a top-up from your old lender. Visit the old lender and apply for loan closure. The old lender will give you a list of documents and the account balance. Inform the new lender about these. The lender will disburse the loan amount. With this amount, repay the outstanding amount to the old lender. The old lender will then release your property documents. Submit these to the new lender. To read more about the procedure for availing a home loan, click here.

The bottom line

Why stick with the old home loan and lose out because of fixed interest rates? Avail the home loan balance transfer from Bajaj Finserv with reduced processing fees to enjoy an array of benefits. Use the money from the top-up loan to fulfil your dreams.

Working capital loans and what you should know about them

Working Capital Loans And What You Should Know About Them

Are your current liabilities exceeding your current assets? If so, be warned! Your working capital is not being well-managed. Working capital can simply be defined as current assets minus all the current liabilities. This amount is the cash that is needed for the daily operations. This is the sum used to cover all of the company’s short term expenses like inventory costs, operating expenses and even short-term debts.

Working Capital Loans: Features And Advantages

A working capital Financing can be very beneficial to your small business, helping pay for daily operating costs.

Here are some of its features and advantages:

  • Speedy Application Process:

    If you are eligible for a working capital loan, you can receive the loan amount almost instantly and do not have to go through a long application and waiting procedure. An efficient lender can give you flexible working capital loan terms with approval in 24 hours and money in your account in another 24 hours. This is to provide help to firms with seasonal fluctuations and to improve their cash flow.

Also Read : What Is The Best Way To Get A Working Capital Loan?

  • Absence of Collateral:

    Collateral can be defined as any asset that the borrower has to offer as a security for the loan. It is better for your business to apply for an unsecured working capital loan that doesn’t need any collateral; however, as a result, you may need to pay slightly higher interest rates.

  • No restrictions over your chosen loan amount:

    When you take a working capital loan, you are free to spend the amount at your own discretion without any kind of interference from the lender. All that the lenders are concerned about is that you use the loan to tackle your business’ working capital needs, as this loan is customized for that. For other purposes, there are always business loans and machinery loans as well as personal loans.

  • Affordable Interest Rates:

    Working capital loans rates aren’t phenomenally expensive or difficult to pay. On an average the interest rates for working capital loans start from 16% with flexible repayment durations. This makes it easy to pay the EMIs over time and thus makes borrowing them affordable for businesses.

  • Flexible Tenor:

    Since working capital is a relatively short term need for businesses, the tenor for these loans is short and starts from 12 months going up to 96 months. For businesses, a shorter tenor can mean that repayment would be much easier and the loan could get cleared faster than long-term loans.

  • Requires Basic Eligibility Documents:

    As is applicable to all other loans, even working capital loans have some eligibility criteria. This requires you to submit various documents pertaining to your business to the lender during application. The list of documents requires varies from lender to lender, but the basic paperwork consists of financial statements, bank account statements, business proof, photographs of the business owner and other IDs.

  • Offers a Convenient Line of Credit Facility:

    One of the most helpful features of a working capital loan is the line of credit, which gives you the flexibility to borrow up to a certain amount for a chosen tenor. As a business owner you can choose to withdraw any amount up to the limit and pay interest only on what you use. Your monthly EMIs also consist of only interest dues, which decreases the pressure on you. You are free to repay the amount or a portion of the amount you use, and re-avail it if you need it. This gives you flexibility, especially when it comes to your working capital needs.

Also Read : Things To Check While Availing A Working Capital Loan

You can gain immensely from all these benefits and conveniently finance your working capital needs with the easy and flexible Working Capital Finance from Bajaj Finserv. Along with quick disbursement of the loan amount you can also gain from the line of credit and instant online access to your loan account.

Apply for Business Loan Online Check your Business Loan Eligibility

How to tell the difference between a term loan and a working capital loan

How To Tell The Difference Between A Term Loan And A Working Capital Loan?

Working capital finance is a short-term loan—typically running up to three years—and is taken to meet routine business expenses as well as to cover business operation costs on a day-to-day basis. A working capital loan is not used to make large expenses on machinery or to expand production capacity or service.

A term loan, on the other hand, is a loan or borrowing where predetermined timely payments need to be made over a period of time. A term loan can be usually repaid within 1 to 30 years. It is used to finance new assets, to maintain machinery or to cover other capital expenses for which the business does not possess sufficient funds. There are two types of term loans: a fixed rate term loan where the interest on the loan does not vary over time and, a floating rate term loan where the interest varies depending on some predetermined criteria, which is decided at the time of offering the loan by the lender.

Also Read : Features And Advantages Of Working Capital Loans

Term Loans—An in-depth look

Term loans taken by businesses are usually for a long term as that translates into smaller EMI payments each month, making it less stressful on the business finances. Further, in case the business profit dips, smaller EMI payments are easier to manage. When taking a term loan for capital expense, it is wise to limit the term of the loan to the life of the machinery being purchased. This way when you need to replace the machinery, you will have cleared the loan and will be able to apply for a new loan if required.

Working Capital Loan—An in-depth look

Ideally the business plan of a company should ensure that there are enough funds to meet the working capital needs for at least six months until the income from sale proceeds is able to cover the day-to-day requirements. However, when the receivables are stretched and take longer to realise, a cash crunch to meet daily expenses and interest arises. Working Capital Loan can help your business stay on track with payments and maintain good credit.

Working capital loans are provided by lenders who offer varying working capital loan terms and interest rates. When applying for such a loan, it is necessary to shop wisely in order to get the best deal. You also need to study your business’ requirements of working capital and secure a loan only for the funds needed. After all, receipts from your business will be used to repay the working capital loan as well as the interest.

Also Read : Things To Check While Availing A Working Capital Loan

While shopping for a working capital loan, look for a well established lender who offers flexible repayment options, provides an easy application process and offers competitive interest rates. Have a look at Bajaj Finserv, as they offer working capital loans up to Rs.30 lakh with affordable fees and charges.

Apply for Business Loan Online Check your Business Loan Eligibility

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