Bajaj Finserv Online Personal Loan – Apply Online & get Instant Loan e-Approval
Bajaj Finserv offers personal loan at an attractive interest rate of 12.99% per annum for a tenure of up to 5 years. The maximum loan amount provided by the lender is Rs.25 lakh with a processing fee of up to 4.13% of the loan amount. Bajaj Finserv offers personal loans to meet various personal and financial needs along with prepayment and part prepayment facility. The loan can be applied online in a few simple steps but can only be given whose eligibility matches with the lender. It is important to fulfill the required eligibility criteria such as minimum monthly income should be Rs.36,000 and age should be between 23-58 years to avail the loan. Make sure your documents are also complete to enjoy a smooth loan journey.
Bajaj Finserv Personal Loan at a Glance
|Interest Rates||12.99% onwards|
|Loan Amount||Up to Rs.25 lakh|
|Tenure||1 to 5 Years|
|Processing Fee||Up to 4.13% of the loan amount+GST|
|Cibil Score||700 or Above|
How to Apply For Bajaj Personal Loan?
The application process for a personal loan is simple and convenient. Proceed with the following steps to apply for Personal loans with Bajaj Finserv.
Step 1: Fill in the online application form with your personal, employment and financial details.
Step 2: Choose your loan amount and repayment tenor to receive instant approval.
Step 3: A Bajaj Finserv representative will get in touch with you. Submit all the necessary documents to him/her.
Step 4: Receive disbursal of your loan within 24 hours of approval
Bajaj Personal Loan Eligibility
- An applicant should be an Indian citizen
- The minimum age of an applicant should be 23 Years
- The maximum age of an applicant should be 58 Years
- Employed with an MNC, public or private company
- The minimum monthly income of an applicant should be Rs.36,000
Documents Required for Bajaj Finserv Personal Loan
- Passport-size photographs
- KYC Documents – PAN, Aadhaar, Driving license, Voter’s ID, Passport
- Bank account statements for three months
A personal loan EMI calculator is the tool used to calculate the EMI you have to pay. A borrower can calculate the monthly installments he is liable to pay and decide your affordability. With the knowledge of the EMIs in advance, a person gets the chance to manage his monthly finances accordingly. In the EMI calculator, the mandatory fields to be filled in are:
- Loan Amount
- Interest Rate
Let’s just have better clarity on the same with the help of an example below:
Suppose that a person is planning to take a loan of ₹2 lakh and is offered an interest rate of 12.99% per annum. Now, the borrower has chosen the loan tenure of 5 years. You can see below the monthly installments he will have to pay.
Table Showing EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
|Loan Amount (in Rs.)||Interest Rate(per annum)||Tenure (in Years)||EMI (in Rs.)||Total Interest Amount(in Rs.)||Total Amount=Principal +Interest (in Rs.)|
Table Showing Principal, Interest and Balance Amount
|Year||Principal (in Rs.)||Interest(in Rs.)||Balance Amount(in Rs.)|
Where can a personal loan be used?
It can help you meet a wide range of financial requirements, such as:
- Medical emergency
- Home renovation
- Higher education
- Debt consolidation
Features and Benefits
- Online Loan Applications: Candidates can apply from the comfort of home or office using the online service. One just has to visit the official website of the lender and do it.
- Get Instant Online Approval: Now that the world is becoming digital in all aspects, the online process is, of course, time-saving. The applicant can get instant approval on their online application within a few minutes.
- Get Money in 72 hours: To fulfill the sudden need of money, the company disburses the money into the applicant’s bank account within 72 hours.
- Loan Amount up to Rs.25 lakh: Bajaj Finance gives one of the highest funds up to Rs.25 lakhs with the flexible repayment option and tenure ranging from 12 months to 60 months.
- Online Account Access: After all the formalities are completed, a person can access all the information related to the payment schedule, EMI payable, interest certificate, and other information.
- Attractive Rate of Interest: The interest rates at Bajaj are one of the lowest, with the starting rate of 12.99% per annum.
- Attractive Offers for Existing Customers: The existing customers of Bajaj Finance have the privilege to get exclusive pre-approved offers.
- Part Prepayment Facility: There is a facility to make part prepayment by which you can reduce the interest burden
- Zero Foreclosure Charges: The company does not charge anything on the foreclosure and hence you can save more.
- 24X7 Customer Support: The 24X7 customer support helpline, including a toll-free number, email and SMS is available for the convenience of the customers.
Bajaj Finserv Fee and Charges
A Processing fee of up to 4.13% of the loan amount +GST is levied. Foreclosure charges of 4% will be applicable after payment of more than 1 EMI. Whereas, part prepayment charges are up to 2% + applicable taxes on part-payment amount paid will be levied.
Bajaj Finserv Customer Care
Bajaj Finserv has made it convenient for the customers to ask any queries related to loans. A loan seeker can contact the company at the toll-free number.: 020 3957 4151. The executives are always there to listen and solve all your queries and complaints. These experts help you in the best way and are always ready to guide and support you.
Frequently Asked Questions (FAQs)
Q.What should be my credit score to apply for Bajaj Finserv Personal Loan?
A.You should ideally have a good credit score (usually 750 or above) to get your personal loan application accepted by a bank. However, you can also apply for Bajaj Finserv Personal Loan even if you have a lower score, but your chances of approval will be lower in such a case.
Q.How do I repay my personal loan?
A.You can repay the loan in EMIs by using ECS or through post-dated cheques.
Q. How and when can Flexi Loan be foreclosed?
A.In case of a flexi loan you can make part prepayment or foreclosure without incurring any additional fees. The prepayment of a flexi loan can be made by RTGS only to the assigned account provided to the applicant by Bajaj Finserv.
Q.Can I make a part prepayment on my personal loan?
A.Yes, you can make a part- prepayment after payment of the 1st loan EMI. Part-prepayment amount should be equal to or greater than amount equal to 2 EMI.
Q. How much time will it take for my Bajaj Finserv Personal loan to get disbursed?
A.Usually, a personal loan gets disbursed within 24 hours of the personal loan application being approved.
Q. How will I know if I am pre- approved for a personal loan from Bajaj Finserv?
A.If you are an existing customer, you can check if you are pre- approved for a personal loan online. Just visit the Bajaj Finserv Pre-approved Offers page and share your basic contact details – Name and Mobile Number to generate an OTP and check available offers.