Bajaj Finserv Personal Loan
Bajaj Personal Loan offers you immediate financial assistance of up to ₹55 Lakhs when you need quick cash for family, health, education, travel, business, or more. This loan comes at an interest rate starting from 10.00% p.a. and can be repaid in a tenure of up to 8 years. The lender levies a processing fee of up to 3.93% of the loan amount and prepayment charges of up to 4.72% of the prepaid/ outstanding loan amount.
Bajaj Finance Personal Loan Details
The key Bajaj personal loan details are as follows:
| Loan Amount | ₹40,000 - ₹55 Lakhs |
|---|---|
| Interest Rate | 10.00% to 31% p.a. |
| Processing Fee | Up to 3.93% of the loan amount |
| Tenure | 1 to 8 years |
| Types | Term Loan, Insta Pre-approved Personal Loan, Flexi Term Loan & Flexi Hybrid Loan |
| Age | 21 to 80 years |
Note: Bajaj Finance is powered by https://www.bajajfinserv.in/ and the information mentioned here is provided by Bajaj Finserv Limited.
Features & Benefits of Bajaj Personal Loan
- Instant loans up to ₹55 lakhs: Individuals with a stable income source can apply online and receive approval for an instant loan of up to ₹55 Lakhs.
- Flexi Interest-only loan: Bajaj Finserv personal loans can be borrowed as Flexi Interest-Only Loans. Herein, you can pay interest-only EMIs for up to 24 months and reduce EMIs by 45% every month as compared to a Term Loan.
- Competitive interest rate: Bajaj instant loan comes at affordable interest rates starting from just 10.00% p.a.
- Pre-approved loan: The lender offers instant Bajaj pre-approved personal loans with minimal documents up to ₹15,50,000 with flexible tenures up to 96 months to select existing customers in just 30 minutes.
- Disbursal within 24 hours: Once your application is completed, Bajaj Finserv approves the request within 5 minutes, and the amount is disbursed in just 24 hours of approval directly to your bank account.
- Flexible tenure: BFL personal loans are available for flexible tenure ranging from 12 months to 84 months.
- No collateral required: If you want a Bajaj personal loan apply instantly online without any guarantor or collateral, as it is an unsecured loan.
- Zero part prepayment charges: For Flexi Loans, you don’t have to pay any part prepayment charges.
Bajaj Finance Personal Loan Interest Rates & Charges
The following are the Bajaj Finserv loan interest rate and charges details:
| Types of Fees | Charges Applicable |
|---|---|
| Rate of Interest | 10.00% to 31% p.a. |
| Processing Fee | Up to 3.93% of the loan amount |
| Part Prepayment Charges | Up to 4.72% of the principal amount prepaid |
| Foreclosure Charges | Up to 4.72% of the outstanding loan amount |
| Flexi Facility Charge | Up to ₹12,999, depending on the loan amount |
| Principal Holiday Facility Fee | Up to ₹12,999, depending on the loan amount |
| Penal Interest | Up to 36% p.a. |
| Bounce Charges | Up to ₹1,200 per bounce |
| Stamp Duty | Payable as per state laws |
| Annual Maintenance Charges | Up to 0.295% |
Compare Bajaj Personal Loan with Other NBFCs
Below is the comparison of the Bajaj loan interest rate with other NBFCs and online lenders:
| Lenders | Loan Amount | Interest Rate | Tenure |
|---|---|---|---|
| Bajaj Finserv | Up to ₹55 Lakhs | 10.00% to 31% p.a. | 12 months to 84 months |
| Poonawalla Fincorp | Up to ₹50 Lakhs | 9.99% to 16.49% p.a. | 12 months to 84 months |
| L&T Finance | ₹50,000 to ₹30 Lakhs | 11% p.a. onwards | 12 months to 72 months |
| IIFL | ₹5,000 to ₹5 Lakhs | 12.75% to 44% p.a. | 3 months to 42 months |
| SmartCoin (Olyv) | ₹1,000 to ₹5 Lakhs | 1.5% per month onwards | 2 months - 24 months |
| LoanTap | ₹3,000 to ₹5 Lakhs | 15% to 32% p.a. | 1 month to 60 months |
| MoneyTap | ₹3,000 to ₹5 Lakhs | 13% to 18% p.a. | 3 months to 36 months |
| KreditBee | ₹1,000 to ₹5 Lakhs | 17% to 29.95% p.a. | 6 months - 60 months |
| PaySense | ₹5,000 to ₹5 Lakhs | 14% to 36% p.a. | Up to 24 months |
Bajaj Personal Loan Eligibility Criteria
The detailed Bajaj personal loan eligibility criteria are given below:
- Nationality: Indian
- Age: Between 21 to 80 years
- Occupation: Salaried or self-employed personal, employed with an MNC, public, or private company
- CIBIL score: Must be 685 or above
- Minimum monthly salary: ₹25,001, subject to your residence city
Documents Required for Bajaj Finserv Personal Loan
The documents required for a Bajaj personal loan are:
- Bajaj personal loan application
- KYC documents: Passport/ Aadhar Card/ Voter ID Card/ Driving License/ Letter from National Population Register/ NREGA Job Card
- Income proof: Last 3 months’ salary slips and statements of the salary bank account
- PAN Card
- Employee ID Card
- Piped Gas Bill
- Letter of Allotment of Accommodation issued by the Employer
- Pension Order
- Property/ Municipal Tax Receipt
- Utility Bill
- Phone Bill
- Ration Card
- Real-time image/ photograph
How to Apply for a Bajaj Personal Loan Online
To apply for a Bajaj instant personal loan, you can contact any of Bajaj Finserv branches or apply online on the bank’s portal. Alternatively you can apply for Bajaj personal loan online through our portal by providing some basic personal and occupational details. Once you fill in all the necessary details and submit your application, our personal loan experts will get in touch with you to complete the application process.
Bajaj Personal Loan Customer Care Details
If you have any queries, issues, or feedback regarding the Bajaj personal loan, you can contact them at:
- Customer care number: 8698010101, from 09:00 am to 09:00 pm, Monday to Sunday.
FAQs
The time taken for Bajaj Finserv loan approval varies depending on the type of loan and other factors. With an Insta Personal Loan, you can get approval in minutes to a few hours for pre-approved loan offers, while for a standard personal loan, the approval may take up to 24 hours to a few days, depending on your eligibility, speed of document verification, and other factors.
The maximum personal loan amount in Bajaj is up to ₹55 Lakhs.
You will need a CIBIL score of 685 or more to be eligible for a Bajaj Finserv personal loan.
Yes, you can cancel a Bajaj Finserv loan. All you need to do is contact Bajaj Finserv customer care to initiate the process or raise a cancellation request through the Bajaj Finserv customer portal/ app. Be aware of potential charges such as cancellation fees, accrued interest, etc. and have a record of your cancellation request.
To check Personal Loan application status, call customer care on 8698010101 and share your application number. After authentication of request, customer care executive will update about the status of loan application.
Yes, Bajaj offers instant loans with minimal documents up to ₹15,50,000 with flexible tenures up to 96 months to select existing customers in just 30 minutes.
Missed EMI payments attract penalty charges, such as late fees and interest on the overdue amount, depending on the loan agreement.
- Indian national aged between 21 to 80 years.
- Salaried or self-employed personal, employed with an MNC, public, or private company
- Having a CIBIL score of 685 or above
- Having a minimum monthly salary of ₹25,001, subject to your residence city
Once you application is approved, the amount is disbursed in just 24 hours of approval directly to your bank account.
Select existing customers aged between 21 to 80 years are eligible for pre approved loan in Bajaj Finance.
The minimum CIBIL score required for approval of a Personal Loan is 720. However, those who meet all other eligibility criteria may still be able to apply for a Personal Loan despite the lower score.
You can easily make your Bajaj Finserv Personal Loan EMI payments through:
- Bajaj Finserv Experia app
- NEFT or Bank Transfer
- Debit cards
- Credit cards
- Mobile wallets, like Paytm, MobKwik, etc.
To check your Personal Loan application status, call customer care at 1800-103-3535 and share your unique reference number (URN). You will receive URN by email or SMS as you submit the loan application. After authentication of the request, the customer care executive will update you about the status of the loan application.