Introduction
Bajaj Finserv offers a comprehensive range of personal loan solutions designed to cater to various financial needs. Whether it’s for a medical emergency, home renovation, or any unforeseen expense, Bajaj Finserv’s personal loans come with competitive interest rates, quick processing, and flexible repayment options.
Bajaj Finserv Personal Loan Highlights
| Interest Rate | 11.49% p.a. onwards |
| Loan Amount | Up to Rs 25 lakh |
| Tenure | Up to 5 years |
| Processing Fees | Up to 4% of loan amount |
| Minimum Monthly Income | For Corporate Borrowers: Rs 25,000For Non-corporate Salary Borrowers: Rs 35,000Employee of HDFC Bank: Rs 20,000 |
Types of Bajaj Finserv Personal Loans
| Type of Loan | Purpose | LTV Ratio | Tenure | Special Features |
| Medical Loan | Medical expenses | 100% | 1-5 yrs | Instant approval with minimum documentation |
| Travel Loan | Travel and vacation | 100% | 1-5 yrs | Customized travel packages with easy EMI options |
| Wedding Loan | Wedding expenses | 100% | 1-5 yrs | High loan amounts with quick disbursal |
| Debt Consolidation Loan | Pay off multiple debts | 100% | 1-5 yrs | Lower interest rate and easy repayment plan |
Bajaj Finserv Personal Loan Features & Benefits
- Zero Collateral: No need to mortgage property.
- Loan Amount Tenure: Maximum up to ₹25 lakhs can be availed for 5 years.
- Interest Rates: Attractive rate of interest starting at 11.49% p.a.
- Digital KYC: Easy documentation with video KYC using Aadhar Card.
- Flexible Repayment Options: Tailor the repayment schedule to fit your financial situation.
Bajaj Finserv Personal Loan Interest Rate
| Customer Type | Effective Rate Of Interest |
| For Salaried | 11.49% – 16% p.a. |
| For Self-employed | 12% – 17% p.a. |
Bajaj Finserv Personal Loan Processing Fees and Charges
| Fee Type | Details |
| Processing Charges | Up to 4% of the loan amount |
| Stamping Charges | As per respective State’s Stamp Act |
| Overdue Interest | 2% per month |
| Credit Appraisal Charges | Up to ₹5,000 + GST |
| Credit Administration Charges | Up to ₹3,000 + GST |
| Collection Charges | 1% + GST of cheque/instrument dishonor charges + overdue interest |
| Dishonor Charges per instance | ₹500 + GST |
| Foreclosure Charges | 4% + GST |
| Part Pre-payment Charges | ₹1,000 + GST per instance |
| No due | NIL |
| Duplicate Issue of NOC | NIL |
| Copy of CIBIL | ₹50 + GST |
| Copy of Records | ₹100 + GST |
Eligibility Criteria for Bajaj Finserv Personal Loan
| Requirements | Salaried | Self-Employed |
| Residency | Indian/NRI | Indian/NRI |
| Age | 21 – 60 years | 21 – 65 years |
| CIBIL Score | 700 and above | 700 and above |
| Minimum Net Income | ₹25,000 per month | ₹35,000 per month |
Documents Required for Bajaj Finserv Personal Loan
- ID Proofs: Passport, Aadhar card, driving license, voter ID, PAN card
- Residential Proofs: Passport, utility bill, leave and license agreement
- Bank Statement: Past 3 months
- Salary Slip: Last 3 months
- Photographs: 2-3 passport size
Bajaj Finserv Personal Loan EMI Calculator
Calculate your EMI using Bajaj Finserv’s online EMI calculator. Simply enter the loan amount, tenure, and interest rate to get an estimate of your monthly payments. [Link to EMI Calculator]
Tips to Improve Loan Approval Chances
- Improve Credit Score: Maintain a CIBIL score of 700 and above.
- Reduce Existing Debt: Lower your existing debt before applying.
- Stable Income: Ensure consistent and stable income to meet eligibility criteria.
How to Apply for a Personal Loan at Bajaj Finserv?
- Visit the Bajaj Finserv website or nearest branch.
- Click on ‘Apply Now’.
- Provide your personal and income details.
- Select ‘Bajaj Finserv’ from the list of lenders.
- Choose your preferred loan amount and repayment tenure.
- Submit the application.
- Following the verification of your application, a Bajaj Finserv executive will contact you for further proceedings.
Types of Bajaj Finserv Personal Loans
Reiterate the types of personal loans available with brief descriptions:
- Medical Loan: Cover medical expenses with quick processing.
- Travel Loan: Manage your travel expenses with customizable repayment options.
- Wedding Loan: Get immediate financial assistance for wedding-related costs.
- Debt Consolidation Loan: Simplify debt management with lower interest rates.
Why Apply for Personal Loans through Grow Associates?
- Offers from Top Lenders: 30+ partner Banks/NBFCs/Fintechs provide the best available loan at one place.
- Compare & Choose: Easily compare loan offers from top banks, NBFCs, and fintechs to choose the best option.
- Personalized Solutions & High Approval Chances: Personal loan offers are ranked according to your credit score and eligibility factors, maximizing your chances of approval.
- Pre-Approved Loans: Access pre-approved personal loan offers based on your credit health.
- End-to-end Assistance: From loan selection to fund disbursement, [Platform/Agency Name] assists you at every step.
Compare Bajaj Finserv Personal Loan with Other Banks
| Feature | Bajaj Finserv | HDFC Bank | Kotak Mahindra Bank | Yes Bank |
| Interest rate | 11.49% p.a. onwards | 10.50% p.a. onwards | 10.99% p.a. onwards | 20% p.a. onwards |
| Processing fee | Up to 4% + GST | Up to 2.5% + GST | Up to 3% + GST | 2% + GST |
| Foreclosure charges | 4% of the outstanding loan amount | 4% of the outstanding loan amount | 5% of the outstanding loan amount | 0% to 4% of the outstanding loan amount |
| Late payment fee | 2% of the overdue amount per month | 2% of the overdue amount per month | 3% of the overdue amount per month | 2% of the overdue amount per month |
Brief Summary
Bajaj Finserv’s personal loan is an ideal solution for anyone in need of quick funds to meet financial needs. With competitive interest rates, flexible repayment options, and a hassle-free application process, Bajaj Finserv ensures you have the financial support you need when you need it most.
FAQs
1. What is the minimum and maximum loan amount offered by Bajaj Finserv?
Bajaj Finserv offers personal loans ranging from ₹50,000 to ₹25 lakhs.
2. What is the interest rate for a Bajaj Finserv personal loan?
The interest rate starts from 11.49% p.a. onwards.
3. How long does it take to disburse the loan amount?
Once approved, the loan amount is disbursed within 24 to 48 hours.
4. Are there any foreclosure charges?
Yes, foreclosure charges are 4% of the outstanding loan amount.
5. Can I apply for a Bajaj Finserv personal loan online?
Yes, you can apply for a Bajaj Finserv personal loan online through their official website.
