Is There a Maximum Limit on Engineer Loans? How Can I Find Out My Eligibility?

Are you an engineer intending to set up a business firm or cater to the needs of equipment and machinery? Are you looking for an engineer loan that helps you obtain all that you need? Bajaj Finserv has Engineer loans exclusively crafted to suit all your needs.

It is imperative that you’re well acquainted with the eligibility criteria, terms, and conditions, benefits you are entitled and other relevant details before you apply. Any engineer, who fulfills the eligibility criteria, is entitled to loans up to 15 lakhs, which forms the maximum limit on engineer loans. Let us take a quick look at the Eligibility Criteria for Engineer Loans.

  • Profession – You should be a self-employed or consultant engineer to avail the pre-approved business loan for engineers up to 15 lakhs at extremely low interest rates.
  • Work Experience – You shall be considered eligible for the engineer loan only if you possess self-employed experience for a minimum time period of 3 years or vintage experience for a minimum time period of five years.
  • Age – An engineer must be 26 years of age or above to be entitled to engineer loans by Bajaj Finserv. Any engineer up to the age of 65 is eligible for these loans.

Bajaj has also devised a personal loan eligibility calculator that helps you determine if you’re eligible for a loan and estimates the amount you’re eligible to borrow, considering your outstanding financial credit balance and EMIs. Once you’re certain that you fulfill the eligibility criteria please fill up the application form. There are a number of documents required for engineer loans that our officials shall collect from you after your loan has been approved. Please submit you’ve duly filled the submitted form. Please provide passport photographs of the applicant. Your KYC details have to be provided and also the second applicant’s KYC details if it is a joint application. You must provide evidence of business vintage for a minimum period of three years. You are also required to provide a certificate of practice that provides the business proof besides details of your engineering degree procured from your educational institution. Once the documents are collected by our officials, the money shall be allotted to your bank account in less than 72 hours.

Interesting Blog -   5 Latest Virtual Reality Trends To Look Out In Coming Year

When you’re going to apply for an Engineer Loan, it is significant that you know the benefits of engineer loan you’re entitled to. While you shall get loans up to 15 lakhs, you will only be required to pay interest on the sum you have used. This saves you from the unnecessary costs by providing a flexible line of credit. The interest rates are conveniently low. You do not need collateral to be eligible to borrow small business loans from us. You can also track your payment details and view all the loan dynamics online, at one click. Bajaj Finserv Engineer loans are the best in the industry that provide unmatched privileges to its customers.