Bajaj Finserv Personal Loan
With affordable interest rates and adjustable repayment terms, Bajaj Finserv offers personal loans. There is little to no paperwork required in order to obtain a loan. Bajaj Finserv with interest rates starting at 11%. A maximum loan of Rs 1lacs to 35 lacs with a maximum 1 to 7year repayment period is available to you.
The personal loans offered by Bajaj Finservhave low interest rates and flexible payback schedules. A loan can be obtained with little to no paperwork. Interest rates on personal loans from Bajaj Finserv start at 10.49%, making them a great option for any of your urgent financial requirements. You may be eligible for a loan with a maximum amount of Rs 20,000 to Rs 1 crore and a maximum payback term of 6 months to 5 years.
| Interest Rate | 11% | |
|---|---|---|
| Maximum Loan | Rs 1lacs to 35 lacs | |
| Processing Fees | 3.93% | |
| Maximum Loan Tenure | 1 to 7year | |
Loan Disbursal in 3 hrs*
100% Online ProcessA Four-Step Guide to Efficient Financing
Bajaj Finserv Personal Loan EMI Calculator
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Documents Required for Bajaj Finserv Personal Loan
To apply for this bajaj finserv instant loan, the applicant must have all of the following documentation with them:
Loan application form with signatures and images
Worker ID card
Identity Proof: Voter ID, Passport, Driver's Licence, or PAN Card
Address Verification Documents Included: Passport, Driver's Licence, Ration Card, Mobile Bill, and Employer Letter
Passport, PAN card, driver's license, and photo credit serve as proof of signatures.
Card or letter from the bank attesting to your signature
Work experience documentation includes an appointment letter, Form 16, and a salary slip from a previous job that is at least a year old.
Returns on business IT for at least the last 12 months
Turnover from the prior year, properly audited by a CA
Personal , Bajaj Finserv Loan can be taken out as standard term loans with equal monthly payments or with the option to pay flexi-interest only payments for a period of time. The entire loan amount is given in full after approval under the term loan option. As a result, you are responsible for the entire sum from the start of the loan. This indicates that interest is applied to the entire sum. The Personal Term Loan's EMI is computed as follows:
Term Loan EMI = Principal + Interest
Feature of Bajaj Finserv Personal Loan
Here are some feature of Bajaj Finserv Flexi Loan :
Flexi Interest Only Loan
The Personal Loan from Bajaj Finserv Limited (BFL) is available as a Flexi Interest Only Loan. Your monthly EMIs could be 45% less in this case than they would be with a term loan.
Instant Loans Up To Rs. 35 Lakhs
People with steady sources of income can apply online and receive approval for a quick loan of up to 35 lakhs rupees.
Disbursal Within 24 Hours
Within 24 hours of loan approval, funds are disbursed at the fastest rate in India thanks to BFL's personal loans.
Minimal Documentation
A solid credit score of 750 points or higher is required for Bajaj Finserv to offer pre-approved loans with little documentation.
Flexible term
The term for BFL personal loans is flexible, ranging from 12 to 60 months.
No Collateral Required
This loan is unsecured and does not require a guarantor or any type of security.
Part Prepayment
Part prepayment is permitted by making payments equal to 4% of the principal that is still owed after 13 to 24 months, 3% of the debt that is still owed after 25 to 36 months, and 2% of the principal that is still owed after 36 months.
Process for applying Bajaj Finserv Personal Loan
The online application process for personal loans from Bajaj Finance loan details is straightforward.
Visit the Bajaj Finance website
Select "Personal Loans" from the top menu bar, then "Apply Online."
Your name, phone number, and other facts about yourself will need to be entered.
Your KYC information and income information must then be entered.
Decide how much of a loan you wish to take out.
Click "Submit" after entering all the necessary information.
The next steps will be explained to you by a Bajaj Finance representative. Your loan funds will be released into your bank account during the next 24 hours if verification is successful.
FinCrif Frequently Asked Questions ( FAQ )
When may I apply for a personal loan from Bajaj?
ANS. The time it takes to submit your loan application is less than five minutes. Furthermore, the bank's verification and loan approval processes can take 1 to 7 working days.
What is the Bajaj minimum for personal loans?
ANS . The loan amount is determined by a number of variables, including the applicant's income, current debt, monthly expenses, CIBIL score, etc. To qualify for a personal loan from Bajaj Finserv, you must earn at least INR 22,000 annually. The required minimum salary varies from one city to the next.
Can Bajaj grant me two personal loans?
ANS. You may request two personal loans from Bajaj Finserv, however it is not a good idea to request numerous unsecured loans. Before requesting a second loan, make sure you earn a lot of money since otherwise, the lender might view you as a high-risk applicant.
Eligibility Criteria for Bajaj Finserv Personal Loan
Salaried individuals may apply for loans at Bajaj. Before Bajaj will consider their loan applications, clients must, however, satisfy a number of qualifying requirements. Having said that, different people may have different standards. Check the qualifying requirements listed below to determine if you meet them.
One should be salaried to apply.
He or she must live in India.
The applicant must be at least 23 years old.
The applicant's age cannot exceed 59 years.
A salaried applicant must have a minimum net monthly income of INR 22,000, INR 27,000, or INR 40,000 (salary requirements vary by city).
Online Bajaj Finserv personal loan eligibility calculators that are based on user profiles can also be used to determine a person's eligibility. The tool considers your income, loan amount, and monthly expenses to determine the maximum loan amount you may realistically obtain from a lender to satisfy your range of demands.
Fees and Charges of Bajaj Finserv Personal Loan
| FEES | CHARGES |
| Interest Rates | 13% |
| Loan Amount | Rs. 1 Lakh to Rs. 35 Lakhs |
| Tenure | 1 Year to 7 Years |
| Loan Processing Fee | Up to Rs. 4,999 or up to 2.5% of loan amount |
| EMI Bounce Charges | Rs. 600 – Rs. 1,200 per bounce |
| Prepayment Charges | 4% of principal outstanding for 13 - 24 months, 3% of principal outstanding for 25 - 36 months, and 2% of principal outstanding for >36 months. |
| EMI | Rs. 1104 Per Lakh* |
