Life puts us in difficult situations sometimes, we need money for emergencies like home renovation, education fees, wedding expenses, medical expenses, holidays, etc. Bajaj Finserv Personal Loan is known for offering a wide range of loans in these difficult times.
The benefits of Bajaj Finserv Personal Loans, like minimal documents, quick approvals, flexible repayment options, competitive interest rates, and loan amounts up to ₹ 40 lacs make it an attractive option. With a hassle-free online application process, Bajaj Finserv ensures a smooth experience for Salaried and self-employed professionals.
Please read the blog. We have covered all the Bajaj Finserv Personal Loans topics, such as interest rates and processing fees, listed all required documents, explained eligibility criteria for salaried and self-employed professionals, detailed the online application process, discussed other charges and more.
Bajaj Finance Loan Details
Bajaj Finance Personal Loan Details are as follows.
| Personal Loan Provider | Bajaj Finserv Personal Loan |
| Type of Loans Provided | Personal Loan, Home Loan, Car Loan, Gold Loan, Two-Wheeler Loan, Loan Against Property, Loan against Mutual Funds, Bonds, and Insurance Policies. |
| Bajaj Finserv Personal Loan Interest Rate | 10% to 31% per annum |
| Bajaj Finserv Personal Loan Processing Fee | Up to 3.93% of Loan amount (inclusive of taxes) |
| Bounce charges | ₹700 to ₹1200 per bounce |
| Loan Amount | Up to ₹25 lacs |
| Loan Tenure | 12 to 60 months |
| Lowest EMI | ₹2224 per lacs |
| Penal Interest | 2% to 4% per month + applicable taxes |
| Overdue Charges | ₹200 + applicable taxes |
| Part-prepayment Charges | 2% – 4% of principal outstanding |
| Annual Maintenance Charges for Hybrid Flexi Loan | 0.25% on the sanctioned loan amount + taxes for 2 years0.25% on reduced assigned limit + taxes for remaining loan |
| Annual Maintenance Charges for Flexi-Term Loan | 0.25% on reduced assigned limit + applicable taxes |
| Foreclosure Charges | 4% of principal outstanding + applicable taxes |
Bajaj Finserv Personal Loan Eligibility
To increase your chances of approval, you need to understand Bajaj Finserv Personal Loans Eligibility to ensure you meet the requirements. This will only increase your chance of approval.
Bajaj Finserv Personal Loans are offered to Salaried and self-employed professionals, catering to a wide range of individuals. Find details below for both.
Bajaj Finserv Personal Loan for Salaried Individuals
Eligibility criteria for salaried individuals are as follows.
- Nationality – Indian
- Age – 21 to 80 years
- Employment – Salaried employee of an MNC, Public or Private Sector Company.
- Cibil Score- 685 or higher
- Minimum Salary – ₹25000
Bajaj Finserv Personal Loans Eligibility for Self-employed Professionals
Eligibility criteria for self-employed Professionals are as follows.
- Nationality – Indian
- Age – 18 to 80 years
- Business Vintage – At least 3 years
- Cibil Score- 685 or higher
- Minimum Income – ₹25000
- Also Read – HDFC Bank Personal Loan Guide
- Also Read – ICICI Bank Personal Loan Complete Details
- Also Read – SBI Personal Loans
Bajaj Finserv Personal Loan Interest Rate and Other Charges
Bajaj Finance Personal Loans Interest rates depend on various factors like type of employment, credit history and score, monthly income, etc. Before applying for any type of loan, you should check for interest rates offered and compare them with other personal loan offers in the market.
Bajaj Finserv Personal Loans Interest Rate starts from 10% per annum to 36% per annum. Also, find below Processing fees, Foreclosure charges, bounce charges, etc.
| Type of Fees | Applicable charges |
| Interest Rates | 10% to 36% per annum |
| Bajaj Finserv Personal Loan Processing fees | Up to 3.93% of the loan amount |
| Bounce Charges | Rs. 600 – Rs. 1,200 per bounce |
| Penal Interest | 2% to 4% per month + applicable taxes |
| Overdue Charges | Rs. 200 + applicable taxes |
| Secure Fee for Online Approvals | Rs. 4,499 |
| Charges for Outstation Collection | Rs. 65 + applicable taxes |
| Charges for Loan Statement | Rs. 50 |
| Part-prepayment Charges | 2% – 4% of principal outstanding |
| Foreclosure Charges | 4% of principal outstanding + applicable taxes |
Bajaj Finserv Personal Loan EMI Calculator
Bajaj Finance Personal Loans EMI Calculator is an easy and simple tool for calculating your EMIs. Enter the loan amount, interest rate and tenure, and the tool will calculate your monthly EMI for you.
You can use a different combination, like changing your loan amount or tenure, to see how it will affect your EMIs. To give you a complete view of your loan, the Bajaj Finserv Personal Loans EMI Calculator will give you a breakdown of the principal loan amount and interest you will pay over the tenure.
Click Here to check – Bajaj Finserv Personal Loan EMI Calculator
Bajaj Finserv Personal Loan Process – Online Application
The Bajaj Finserv Personal Loan process is simple, completely online, and can be completed quickly. Here’s a detailed outline of the Bajaj Finance personal loan process:
- Visit the Official Bajaj Finserv Website or Install the App
Click here to visit the Bajaj Finserv Website or Install the Bajaj Finserv Loans App from Google Playstore.
- Apply Now
Click the “Apply Now” button in the personal loan section.
- Fill in the Application Form
Fill out the application form with your Personal, Financial and employment details.
- Documents Upload
Upload all necessary documents like PAN card, Aadhar, Bank Statement, and Income documents. Apply.
- Loan Approval
Once all required documents are submitted, Bajaj Finserv will review your application form and, if approved you will receive personal loan approval confirmation and the loan amount will be disbursed to your bank account.
Bajaj Finance Personal Loan Documents Required
To complete the application process, you need to submit the necessary paperwork. Below is a list of Bajaj Finance Personal Loan Documents Required.
- Identity Proof: Aadhar Card, PAN Card, Passport, or Voter ID.
- Address Proof: Utility bill, Rent agreement, or Passport.
- Income Proof: Latest salary slips for salaried individuals or ITR for self-employed applicants.
- Bank Statements: Last 3-6 months’ bank statements
- Photographs: Recent passport-sized photographs OR Selfies.
To complete the process quickly, be ready with all the required documents before you start the application process.
Bajaj Finserv Personal Loan Features and Benefits
Bajaj Finance Personal Loans offers several benefits, find below a few for you.
- Affordable and Flexible Interest Rates: You can enjoy competitive interest rates.
- Loan Amounts Up to Rs. 40 Lacs: You can avail of personal loans up to 40 lacs depending on your needs.
- Instant Online Loan Approval: Enter your details and documents online for a hassle-free online process.
- Simple Documentation and Full Transparency: Experience complete transparency and an easy documentation process with no hidden charges.
- Flexible Repayment Options: Choose between 12 to 60 months of repayment options depending on your repayment capacity.
- Low Processing Fee: Lowest processing fees as compared to other banks.
- Eligibility Check and EMI Calculator: Check your Personal Loan eligibility and calculate EMIs online before deciding.
- Bajaj Finserv Personal Loans make it easy to access funds with transparency.
Bajaj Finserv Personal Loan Interest Rate Comparison with Competitors
| Bank | Interest Rate |
| HDFC Personal Loan Interest Rate | 10.75% |
| Axis Bank Personal Loan Interest Rate | 13.75% |
| ICICI Bank Personal Loan Interest Rate | 10.80% |
| IDFC First Bank Personal Loan Interest Rate | 10.99% |
| SBI Personal Loan Interest Rate | 11.35% |
| YES Bank Personal Loan Interest Rate | 10.99% |
| Bank of Baroda Personal Loan Interest Rate | 11.10% |
- Also Read – HDFC Bank Personal Loan Guide
- Also Read – ICICI Bank Personal Loan Complete Details
- Also Read – SBI Personal Loans
Conclusion
In conclusion, a Bajaj Finserv Personal Loan offers a convenient and flexible solution for meeting your urgent financial needs. With an easy and simple Bajaj Finserv Personal Loan Online Application process, competitive Bajaj Finserv personal loan interest rates, and quick disbursement, it is an excellent choice for both salaried individuals and self-employed professionals. With an easy-to-use EMI and Eligibility calculator, minimum documentation requirements further make our decision to choose Bajaj Finserv Personal Loans easier.
