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Bajaj Finserv Personal Loan Types and Interest Rates
Bajaj Finserv Personal Loan Interest Rates
| Personal Loan Type | Interest Rates (p.a.) |
| Personal Loan for Salaried | 10%-31% |
| Personal Loan for Chartered Accountants | 11%-19% |
| Personal Loan for Doctors | 11%-19% |
| Insta Personal Loans | 16%-31% |
Note: Rates as of 17 June 2025
The NBFC offers travel loans, wedding loan, loans for higher education, loan for medical emergencies and personal loans for home renovation.
While Bajaj Finserv has not disclosed the differential interest rates of personal loan schemes based on the credit score, employer’s profile, or monthly income of its personal loan applicants, most banks/NBFCs usually consider these factors while setting personal loan interest rates for their applicants. Let’s discuss some of the major factors that influence the interest rates of your personal loan.
The following table shows a comparison of Bajaj Finserv Personal Loan interest rates with other leading banks.
| Banks/NBFCs | Interest Rates(p.a.) |
| Bajaj Finance | 10% - 31% p.a. |
| Axis Bank | 10.49% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.99% onwards |
| HDFC Bank | 10.85% onwards |
| ICICI Bank | 10.80% onwards |
| Kotak Mahindra Bank | 10.99% onwards |
| Tata Capital | 11.99% onwards |
| Federal Bank | 11.49% onwards |
| DMI Finance | Up to 24% |
| L&T Finance | 11.00% onwards |
| Kreditbee | 16.00% - 29.95% |
| MoneyTap | 13.00% onwards |
| Piramal Finance | 12.90% onwards |
| Aditya Birla | 10.99% onwards |
| Moneyview | 14%-36% |
| Cashe | 33.50% onwards |
What are the factors affecting personal loan interest rates?
Credit score
Most banks/NBFCs consider the credit scores of their loan applicants when fixing their interest rates. Applicants with higher credit scores (preferably, 750 and above) are more likely to get personal loans at lower interest rates compared to those applicants with lower credit scores. Avoiding loans or multiple credit card applications within a short period, timely repaying EMIs and credit card bills, and maintaining a minimum credit utilization ratio helps to maintain higher credit scores and thereby improving your personal loan eligibility.
Moreover, errors in the credit report can also negatively impact the credit score, which is why it is important to keep track of credit reports at regular intervals, identify such errors and take necessary actions.
Income
Many lenders offer low-interest rates to personal loan applicants with higher incomes. This is because the higher the income, the higher the ability to repay the loan, which lowers the risk of default.
Employer
Most lenders also give preference to the employer profile of their loan applicants when setting their interest rates. Banks/NBFCs usually offer personal loans to salaried applicants at lower interest rates than those set for personal loans offered to self-employed applicants. Salaried applicants of PSUs and the government are also offered lower personal loan interest rates, considering their income security and higher job security. The applicants working in reputed private sector organisations and MNCs are also offered lower interest rates, as such organisations have a higher capacity of tackling economic downturns compared to the personal loan applicants employed in other private sector organisations.
Existing relationship with the lender
Many banks/NBFCs offer personal loans at concessional interest rates to applicants having existing lending or deposit accounts with them. Hence, those planning to avail personal loans should always contact the lender with whom they already have an existing lending or banking relationship to avail personal loan at lower interest rates.
What are the tips to avail personal loans at low interest rates?
- Maintain a credit score of 750 or above.
- Check for pre-approved personal loan offers from banks and NBFCs.
- Keep track of personal loan interest rates offered by top banks/NBFCs, especially during festive seasons.
- Enquire with different banks or NBFCs with whom you have loan or deposit accounts.
- Check and compare personal loan offers from various banks on online financial marketplaces.
FAQs
Is GST applicable to Bajaj Finserv Personal Loan interest rate?
GST is not applicable to the interest charge on the Bajaj Finserv Personal Loan interest rate. GST @18% is levied on charges associated with personal loans such as processing fees, prepayment/foreclosure, penal or bounce charges, etc.
How can I get in touch with the customer care team of Bajaj Finserv?
You can get in touch with the Bajaj Finserv customer care team in the following ways:
- By phone: You can call +91 8698010101
- You can raise a query or complaint online on the Bajaj Finserv website
- You can visit the nearest Bajaj Finserv branch
Does Bajaj Finserv offer floating rate personal loans?
No. As of yet, personal loans offered by the NBFC do use an external benchmark such as the RBI repo rate, hence this lender does not currently offer floating rate personal loans.
Can I save on interest charges by prepaying my Bajaj Finserv Personal Loan?
You can pre-pay your Bajaj Finserv Personal Loan ahead of time to reduce your total interest outgo. However, you do need to pay pre-payment charges of up to 4.72% on the outstanding loan as on the date of full pre-payment.