Bajaj Finserv

Bajaj Finserv

Bajaj Finserv has made its mark as the one of the top-notch non-banking financial company in India through a gamut of Loan & credit card services provider in India. The Gold Loans and EMI card loan services are offered across 139 locations .Bajaj Finserv has adopted a service delivery model which ensures is not only quick but hassle free as well . It is one of the first companies to offer doorstep delivery services for the loan application.

Bajaj Finserv Loans for Salaried Individuals

The key features of Bajaj Finserv loans are:
 

  • Bajaj Finserv offers one of the quickest and easiest Loan solutions wherein the loan is instantly approved within 5 minutes and the disbursal in borrower’s bank account is done within 72 hours.
  • Seamless application process- In order to apply for any type of loan the interest borrower has to just fill an online application form and check his Loan eligibility instantly. In case the loan is approved, a representative from Bajaj Finserv gets in touch with the borrower and collects the required documents.
  • Once approved the funds are disbursed online through RTGS/ NEFT mode within 72 hours of the Loan approval. This is one of the quickest by any NBFC in India.
  • Bajaj Finserv is reckoned as one of the best consumer loan providers in India and is currently offering various types of loan in over 139 locations.
  • The company offers doorstep services for collection of documents for loan application and the processing.
  • The applicant is required to simply required call the company and the representative goes to the individual’s residence to complete the application process
  • Easy Repayment option in tenure ranging from 24 months up to 60 months in personal loan and up to 20 years in home loans
  • Online Loan EMI calculator help interested borrower to know how much his potential EMI will be for the Loan he is planning to avail
  • The existing customers of Bajaj Finserv are eligible to avail various exclusive pre-approved offers such as Personal Loans or top up loans.
  • The existing borrowers are offered with a state-of-the-art online platform to have all information about their Loan account such as repayment schedule, annual interest certificate, loan repayment track and various other key information bites related to their loans and online customer portal.

The different types of loans and finances offered to salaried individual are as follows:


1. Home loan:

​​The benefits of Bajaj Finserv home loans are:
 
  • Home loans at Baja Finserv is offered for various Home rated purpose, may that be buying or constructing new house or the repair and renovation of existing one .
  • Bajaj Finserv also offers refinancing options under which a customer can avail loan amount up to the full registered value of the property.
  • The home loans amount ranges from Rs.30 lakhs to Rs.15 crores at an interest rate starting from 9.85%.
  • No charges for complete prepayment and even part prepayment of loan amount.

2. Bajaj Finserv Loan against Property
 

  • Loan against property by Bajaj Finserv is available to any salaried or self-employed resident individuals as well as to firms and companies listed in India.
  • The loan against property can be availed under different sections such as mortgage, loan against residential property, loan against residential plot, loan against commercial property and towards purchase of plot.
  • The Flexi Saver option brings the features of  Term Loan and the Credit Line facility together and allows the borrowers to save interest and to manage the cash flow competently
  • The borrowers of Bajaj Finserv loan against property can prepay the principal amount equal to 3 times the monthly installment amount

3. Consumer Durable finance:
 

The durable loan by Bajaj Finserv is reliable and hassle-free. Once the customer avails the loan, they are also provided various other financial service and offers.
 
4. Lifestyle finance:
 

The sanction process is trouble-free and on the spot.

5. EMI card


6. Doctor loan

7. Loan against shares

8. Gold loan:
 
  • Bajaj Finserv Gold Loan can be availed by salaried or even self-employed individuals as well as firms and companies
  • The gold ornaments are valued as per the Carat Meter, available in-house with the company.
  • The minimum gold loan amount is Rs.25,000 whereas the maximum gold loan available is Rs.25 lakhs.
  • The maximum loan amount for firms and companies is Rs.5 lakhs.
  • The loan tenure could be between 1 month and 36 months.
  • The gold ornaments pledged with the Bajaj Finserv secured safely in state of the art locker rooms to prevent theft or tampering.

9. Loan against fixed deposits


10. Two and three wheeler finance:
 
Eligibility for Bajaj Finserv loans for salaried employees
 
  • Any resident individual employed in a reputed firm for more than 2 years.
  • Maintaining a salary account in any bank with monthly salary credit in the account.
  • Should be more than 21 years of age upto 70 years.

Documents for salaried person are
 

  • Identity Proof- PAN card/Driver’s license/Aadhar card Passport copy.
  • The applicant’s signature, Name, photograph and date of birth in the document provided should be clear and understandable.
  • Address Proof: Copy of latest utility bill/ Rental or lease agreement copy along with a valid copy of utility bill in the name of the landlord/ Last 6 months’ account statement.
  • Last 6 months bank account statement: These documents seek to verify the applicant’s income status prior to making the application for loan which also depicts the individual’s financial picture depicting the credit worthiness of the person.
  • Latest 3 months salary slip
  • Signature proof: The applicant needs to maintain the same signature throughout the loan period

Eligibility for Bajaj Finserv loans for self employed persons

 
To be eligible for the Bajaj Finserv loans for self employed, the individual should match as per criteria below.
 

  • Any self employed individual can avail the loan who is Farmers, traders, self-employed professionals and businessmen.
  • The individual should be at least 21 years of age and maximum age is 70 years at the time of applying for a loan

Documents required are:
 

  • Duly filled Application form.
  • Identity Proof- PAN card/Driver’s license/Aadhar card Passport copy.
  • The applicant’s signature, Name, photograph and date of birth in the document provided should be clear and understandable.
  • Address Proof: Copy of latest utility bill/ Rental or lease agreement copy along with a valid copy of utility bill in the name of the landlord/ Last 6 months’ current account statement. Shop and establishment certificate/Sales tax registration certificate/ Factory registration certificate/ SEBI registration certificate/ Form 18 and ROC Receipt
  • Last 6 months bank account statement: These documents seek to verify the applicant’s income status prior to making the application for loan which also depicts the individual’s financial picture depicting the credit worthiness of the person.
  • IT returns along with audited Balance Sheet and Profit and loss account for the last two years:
  • Photographs: Passport size photographs of all the partners or directors are required for availing the loan.
  • Signature proof: The applicant needs to maintain the same signature throughout the loan period
  • Age Proof:  Certificate of incorporation has to be submitted for firms and companies.
  • Business Continuity Proof: The document submitted towards business continuity proof should reveal that the existing business is a minimum 5 years old.

Bajaj Finserv Flexi Loans

Bajaj Finserv Flexi loan is an industry intensive loan facility. The product is one of its kinds wherein the company can pre-pay and draw down money as well using a self-service portal in the drop-line facility. The product is easy and hassle-free. The borrowing company gets benefit of saving interest cost by pre-paying through idle or any surplus funds that they customer may have.
 

Features of Bajaj Flexi loans
 

Bajaj Finserv Flexi Loans offers multiple benefits over any existing term loan:
 
  • Borrower  have the option to pre-pay the loan using their idle or surplus funds at zero extra cost
  • Company can again avail the pre-paid amount in the drop-line facility at any point of time subject to loan tenure and without any additional documentation.
  • The products enables companies to save on interest costs as the interest is payable only over the used loan amount.
  • No interest is levied on the pre-paid amount.
  • Easy, Seamless, & hassle-free online process so that no time is wasted in loan sanction and disbursal.
  • Online customer portal

Fixed deposits

Bajaj Finserv fixed deposit plans can be availed by any of the below entity type.
 

  • Any Resident Individuals
  • Sole Proprietorship firms
  • Hindu Undivided Family
  • Partnership Firms
  • Clubs, Associations and Societies
  • Companies including Group Companies
  • Family Trust
The features of Bajaj Finserv Fixed deposit plans are:
 
  • The FD product offered by Bajaj Finserv is rated as FAAA (Stable) by CRISIL &  MAAA (Stable) by ICRA which makes the Bajaj Finserv term deposit plans as one most safest deposit scheme with utmost security of the money invested
  • Various tenor options to choose from 12, 18, 24, 36, 48 and 60 months.
  • An additional 0.10% interest rate per annum for term deposits of up to Rs.1 crore for the Bajaj Group Employees including the employees of Bajaj Finserv Limited, Bajaj Auto Limited, Bajaj Holdings and Investments Limited, Bajaj Allianz Life Insurance Company Limited, Bajaj Electricals Limited, Bajaj Allianz General Insurance Company Limited, Mukand Limited, Maharashtra Scooters Limited and Bajaj Finance Limited Live
  • The term deposits are available on both cumulative interest pay out and non-cumulative basis.
  • Experia – an online Customer Portal is offered to access the Fixed Deposit account
  • The maturity proceeds are credited automatically to the customer’s account o the day of maturity itself.
  • no Tax Deducted at Source (TDS) on the interest earned If the interest earned on the deposits is up to Rs.5,000 per customer
  • On- demand concierge services for selected customers
  • The deposit can be made either through electronic mode if the amount is Rs.50 lakhs and above or by physical modes

Bajaj Finserv Insurance schemes

Bajaj Finserv apart from the loans also offers widespread choice of insurance schemes for self-employed individual as well as borrowing companies covering all incidents or unfortunate events.
 

  • For the self-employed individuals, a term plan is provided which covers the total loan amount duration subject to a maximum of 18 years.
  •  For borrowing companies, Bajaj Finserv offers Non-Medical Loan and Life Insurance scheme  up to Rs.1 crore
  • The company’s term plan with covers the total loan tenure subject to a maximum 30 years.
  • Bajaj Finserv offers its insurance services through its subsidiary concern Bajaj Allianz. The SFSP Policy is offered as an exhaustive coverage plan for the residential property against unforeseen damages.

Bajaj Finserv Credit Card

Bajaj Finserv offers 3 types of credit cards in partnership with the Standard Chartered bank.
 

  1. Platinum Credit Card -1
  2. Platinum Credit Card -2
  3. Bajaj Finserv World Platinum Credit Card

Platinum Credit Card -1
 

  • The card is offered with zero upfront charge or  joining fee
  • For succeeding years an annual fee of Rs. 999 is applicable.
  • Supplementary card is issued without any charge
  • The cardholder can earn up to 5 reward points on every Rs. 100 spend at the retail counters
  • Reward points redemption against gift vouchers, holiday packages etc.

Platinum Credit Card -2
 

  • An upfront fee of Rs. 999/- and the annual fee of Rs 999/- is applicable every year.
  • Supplementary card is issued without any charge
  • Bajaj Finserv welcome offer for card holders with paid card enrollment. The welcome offers comprises of a Holiday gift voucher for three days /2 nights at any partner hotel
  • The card holder is entitled for various exclusive discounts and offers on shopping done
  • The cardholder can earn up to 5 reward points on every Rs. 100 spend at the retail counters
  • Reward points redemption against gift vouchers, holiday packages etc.

Platinum World Credit Card
 

  • The card is offered on an Enrollment charge of Rs. 2,999/- is and annually Rs. 2,999/-.
  • Supplementary card offered without any charge. 
  • Bajaj Finserv welcome offer for card holders with paid card enrollment. The welcome offers comprise holiday gift voucher for three days /2 nights at any partner hotel
  • The card holder is entitled for various exclusive discounts and offers on shopping done
  • The cardholder can earn up to 5 reward points on every Rs. 100 spend at the retail counters

Bajaj Finserv Credit Card Loan Facility:-
 

  • Bajaj Finserv offers its credit cards holders the loans facility at attractive rates and flexible term between 1 year and 5 years.  
  • The only requirement to avail the loan is one post-dated cheque and loan is sanctioned within 2 days.
  • The option of Balance transfer is also offered at nominal interest rate.

Bajaj Finserv Reward Points Scheme
 

  • Cardholder can earn five reward points on spending every Rs. 100 at the retail, grocery stores, departmental stores, and super stores.
  • Also cardholder can earn two reward points on spending Rs. 100 on any other spending as well.
  • For any Utility Bill Payment done using standard charted web portal, the card holder is entitled to earn 50 reward points.
  • 10 reward points is offered against a spending of Rs. 100 done on the cardholder’s birthday.
  • For spending done more than Rs. 50,000 during a particular statement cycle , the card holder can get  extra reward point
  •  Reward Points Earned against Bajaj Finserv credit card can be redeemed against gift vouchers, shopping discounts vouchers, holiday packages etc.

Bajaj Finserv Credit Card Payment options
 

  1. The cardholder can make payment towards their Bajaj credit card through cheque or draft favoring Standard Chartered CC No. (XXXX-XXXX-XXXX-XXXX) which can be deposited at any Standard Chartered Bank branches or ATM drop box.
  2. The payment can also be done as Cash deposit at any of the nearest Standard Chartered branch.
  3. The cardholder can also pay their credit card outstanding is vide auto payment facility from their saving bank account.              
  4. Phone banking facility and NEFT/RTGS facility is also available.
  5. Payment apportionment is another unique feature in Bajaj Finserv credit card wherein in case the card holder owns more than one credit card or the EMI account with any overdue balance in the card, the payments can be distributed amongst the card as such the outstanding could duly paid holding the account.

Other value-added services at Bajaj Finserv

  • Bajaj Finserv offers three free EMI months under which the borrowers need not to pay for first 3 months after sanction of loan and offering the customer the relief from paying off EMI amount immediately after availing the loan
  • Bajaj Finserv also offers its Property Search Services to assist the borrower to get the best property. This service includes actual access to the real estate market related information through various newsletter and reports, specialized property search through trained professionals, timely updates on newly launched properties, various funding options for the property from Bajaj Finserv,
  • Apart from its regular services, Baja Finserv has a special service of ‘Property Helpline’ number offers for existing customers, to answer all property related queries and valuation services of property at preferential rates.
  • Property Dossier is another a unique value added service by Bajaj Finserv to its customers which is basically a customized report to guide its customer through the various legal and technical areas of buying  a property with useful tips.
  • The report includes legal report about the property’s legal aspects, fair market valuation report, property credit history including the list of owners of the property and the mortgages taken against the particular.
  • The Property credit history is an integrated report consisting CIBIL report and CERSAI background check report. The other reports offered in the Property Dossier consist the market dynamics report about real estate market situation and the required documents to avail the loan.
  • Advantage Card Enhancement Pack in which the Cardholder are entitled for various deals on insurance, health and holidays.
  • CPP protection plan on the credit card against any fraud, in case card is stolen or lost.
     
  1. How to apply for Bajaj Finserv products
  2. Visit the website @www.bajajfinserv.in
  3. Click the ‘products tab as desired
  4. Select the customer class as  ‘Salaried / self employed / companies
  5. click the  option of Apply Now‘ tab and select  Apply Online’
  6. Fill up the required details.
  7. Post checking the applicant’s credit worthiness the loan would be sanctioned within hours.

So the applicant needs to provide his personal details like name, age, address, occupation, income, etc. which the organization uses to match to the eligibility criteria laid down for availing Personal Loans. If the profile of the applicant matches the required eligibility criteria, all the documentation process is completed and the applicant is required to submit the necessary documents as mentioned. After the organization satisfies itself with the eligibility criteria and after all required documents are submitted and successfully verified, the loan is granted instantly.

Apart from applying online, the applicant can also apply for a loan in various other ways:
 
Customer assistance:
 

  1. Phone banking: The applicant at any time can call at the given toll free number provided by the organization. The Number is 1800 209 4151
  2. SMS: The applicant may alternatively drop an SMS in the given format to the specified number. The applicant needs to type the product code and send the same to 9773633633.
  3. Branch Visit: The applicant may also visit Bajaj’s office in order to apply for any product.
  4. The applicant may also drop an e-mail at wecare@bajajfinserv.in for any related queries.
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