Bajaj Finserv Personal Loan

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.

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.