Working Capital Loan

Factors affect the Working Capital loan interest rate

The below factors influence the rate of interest:

  • The greater the business tenure, the lower will be the rate of interest
  • The higher the loan amount, the lower will be the interest rate
  • The shorter the tenure, the lower will be the interest payout
  • The longer the business vintage and stability, the lower will be the rates

How to Check CIBIL Score?

SMEs/MSMEs, businesswomen, traders, manufacturers or service enterprises can check their CIBIL score before applying for a Working Capital Loan.

To check your CIBIL score online, you can visit www.cibil.com and receive your credit report. As per RBI guidelines, every individual is entitled to receive a free credit rating check once a year. After you submit the request, you would be needed to provide the required identification and address proof documents and make a payment to CIBIL for the credit report, if you have already availed a free check in the year.

To know your score offline, you can visit the bureau or apply for a credit report through the post. While applying via post, you may have to furnish your documents. Once these are verified and authenticated, your credit report is sent to you by mail.

With a good CIBIL score and easy-to-meet eligibility criteria, qualifying for a customized Business Loan becomes very simple. You increase your chances of getting a better interest rate, higher loan amount, longer tenor and quicker approval. Bajaj Finserv offers all these benefits with easy, quick and hassle-free Working Capital Loans.

Eligibility Criteria by Bajaj Finserv

Bajaj Finserv offers Working Capital Loans with eligibility criteria that are easy-to-meet.

If you fulfill the following working capital loan requirements, your loan will be easily approved:

  • You must be aged between 22-55 years.
  • Your business should be in operations for at least 3 years.
  • Your business’ income tax returns must have been filed for the same period.
  • If your annual turnover last year was higher than Rs.1 crore, your financial statements would need to be audited by a CA.

Eligibility Criteria by Kotak Mahindra Bank

For Channel Finance :

Primary Security in the form of hypothecation of goods purchased under the program. Collateral Security would be as acceptable to the bank

For Agri SME Business :

Our range of products and services are geared to deliver to the needs of every type of agribusiness across even non-metro locations over the country.

  • Small & medium enterprises
  • Farmers, aggregators & processors
  • Traders & exporters

For Facility Against Credit Card Receivables :

  • Establishment is a Sole Proprietorship, Partnership, Private Limited Company or Public Limited Company
  • Sales through credit cards is over Rs. 60 Lakhs
  • Establishment has had positive profit before tax for the last two (2) years
  • The business has been in existence for three (3) years or more
  • The customer owns the premises from which the business is being conducted