A personal loan is known as an unsecured loan that can be used for a variety of end-users, such as medical treatment, wedding expenses, study abroad, and other urgent financial needs of the business. With Bajaj Finserv personal loan, you can borrow up to Rs. 25 lakh and get instant approval of loan applications with minimal documentation.
Bajaj Finserv personal loan online is collateral-free and comes with unrestricted end-use. It helps to utilize the loan amount to meet big-ticket expenses like child’s marriage or education, purchasing a used car, and more.
Bajaj Finserv instant personal loan- interest rate and other fees and other charges
|Interest rates||12.99% onwards|
|Processing fees||Maximum 3.99% of the loan amount|
|EMI bounce charges||Up to Rs. 1,200 per bounce|
|Foreclosure charge||4% + GST on principal outstanding|
Features and benefits of Bajaj Finserv personal loan
- Pay up to 45% lower EMIs
It is easy to meet expenses with a Flexi personal loan and reduce the installments by up to 45%. You can get the funds when you need your loan sanction, without any need for multiple applications and additional documentation.
- High loan amount
It can be easy to get an instant personal loan of up to Rs. 25 lakh based on certain eligibility. Get an easy to get a high loan amount from Bajaj Finserv when there are flexible repayment options available for the user to repay their loans.
- Money into your account within 24 hours
Bajaj Finserv offers the fastest personal loans in India with disbursal in just 24 hours after your loan gets approved.
- Flexible tenure
You can easily repay the loan with flexible repayment tenure starting from 12 months to 60 months.
- The online process with minimum documentation
This is an easy way to apply for a personal loan online within few clicks and complete the process by submitting only a few basic documents and get approval for an instant loan.
- Pre-approved loan
The user can get a pre-approved loan offer to enjoy a shorter processing time. If you are an existing customer of Bajaj Finserv, you need to share your basic contact details, the one-time password (OTP), and check the pre-approved offer.
Bajaj Finserv personal loan eligibility criteria
Simple ways to meet eligibility criteria to avail Bajaj Finserv personal loan with the listed points:
- The age of the applicant must be starting from 23 years up to 55 years.
- The applicant must be Indian.
- The employment status of the salaried applicant should be in the public sector, a private sector, or an MNC.
- CIBIL score should be 750 and above.
- The applicant’s minimum salary should be:
- If the applicant is working in Delhi, Pune, Chennai, Coimbatore, Noida, Thane, Ghaziabad, Bengaluru, Mumbai, and Hyderabad, the minimum monthly salary should be Rs. 37,000 per month for loan approval.
- In the case of Kolkata and Ahmedabad, the minimum monthly salary required should be Rs. 30,000 per month.
- In the case the applicant is working in Vizag, Nasik, Bhopal, Mysore, Madura, Indore, Bhubaneshwar, Aurangabad, Goa, Lucknow, Baroda, Jamnagar, Trichy, Kolhapur, Trivandrum, Jodhpur, Calicut, Rajkot, Vijayawada, and Vapi, the minimum salary required is a set at Rs. 25,000 per month.
- In case, the applicant is working in Jaipur, Nagpur, Chandigarh, Cochin, Surat, the minimum salary should be Rs. 28,000.
Documents required for Bajaj Finserv personal loan
Applicant must be provided with the following documents for applying for Bajaj Finserv instant personal loan:
- Proof of identity: The applicant must submit PAN Card, Aadhaar card, Voter ID, Passport, or any other government-issued photo identity proof.
- Income proof: Submit salary slips for the last 2 months and bank account statements for three previous months.
- Proof of address: Submit an Aadhaar card, voter ID, passport, ration card, utility bills, or any other government-issued address proof.
How to apply for Bajaj Finserv personal loan online?
It can be easy to proceed with Bajaj Finserv personal loan online with the following points:
- Fill the online application form with essential personal, employment, and financial details.
- It can be easy to opt for a suitable amount and tenure for your pre-approved loan.
- Submit the essential documents with the representative.
- Instant approval and quick disbursal of the loan amount into your account.
How to improve the personal loan eligibility criteria of Bajaj Finserv?
- Maintain your credit score: A credit score is that can boost your loan eligibility as a credit score which is an indicator of the user handle the repayments in past. Thus, the user having a high score makes a reliable individual get loan approval.
- Choose a longer tenure: Choosing a longer tenure may boost the applicant’s loan eligibility if you go for a longer tenure, the EMI would be lower and there will be more chances of loan repayment.
- Paying the existing debts: If there is a requirement of paying other EMIs or credit card bills monthly basis, thus it is always better to pay and close all of them or repay them. This will increase the debt-to-income ratio and hence increases the applicant’s eligibility for another loan.
Bajaj Finserv personal loan eligibility calculator
In order to help the applicants of Bajaj Finserv personal loan get information when they are eligible to get a loan from the bank. However, the personal loan eligibility calculator can be used online to check the eligibility with few basic details like income, loan amount, the city you live in, and more. Thus, the calculator is an easy tool to use for free of cost.
The bottom line:
With the help of the above points and information such as loan amount, eligibility criteria, documents required, and more. Bajaj Finserv offers an instant approval of a personal loan when you require funds for your urgent needs. Apart from this, a personal loan eligibility calculator will help you to check the eligibility criteria of the loan amount. For more details, you can visit the official site of the bank or contact the customer support executives.