Bajaj Finserv Personal Loan Types and Interest Rates
Bajaj Finserv Personal Loan Interest Rates
Particulars | Interest rates (p.a.) |
For Salaried applicants | 11% p.a. onwards |
For Self-employed Professionals | 15%-25% p.a. |
For Chartered Accountants | 11%-18% p.a. |
Note: Rates as of 5 December 2023
Bajaj Finserv also offers personal loans to doctors at interest rates of 11% to 18% p.a. Along with this, the NBFC offers travel loans, wedding loan, debt consolation loans, loan for higher education, loan for medical emergencies, home renovation loans and loan to purchase used cars.
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.) | |
Axis Bank | 10.49% onwards | Apply Now |
IndusInd Bank | 10.49% onwards | Apply Now |
IDFC First Bank | 10.75% onwards | Apply Now |
HDFC Bank | 10.50% onwards | Apply Now |
ICICI Bank | 10.65% onwards | Apply Now |
Kotak Mahindra Bank | 10.99% onwards | Apply Now |
Tata Capital | 10.99% onwards | Apply Now |
Bajaj Finserv | 11.00% onwards | Apply Now |
Federal Bank | 11.49% onwards | Apply Now |
DMI Finance | 12.00% - 40.00% | Apply Now |
L&T Finance | 12.00% onwards | Apply Now |
Kreditbee | 12.25% - 30.00% | Apply Now |
MoneyTap | 13.00% onwards | Apply Now |
Piramal Finance | 12.99% onwards | Apply Now |
Aditya Birla | 13.00% onwards | Apply Now |
Moneyview | 15.96% onwards | Apply Now |
Cashe | 27.00% onwards | Apply Now |

Apply for a Personal Loan online with minimal documentation Apply Now
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 improve 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 income. 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. 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/NBFC, 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.

Apply for a Personal Loan online at Lower Interest Rates Apply Now
FAQs
Q. Is GST applicable on Bajaj Finserv Personal Loan interest rate?
No, the interest on Bajaj Finserv personal loans is exempted from GST. Currently GST is applicable only to interest accrued on credit card balances and EMIs.
Q. 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 on +91 8698010101
- You can raise a query or complaint online on the Bajaj Finserv website
- You can visit the nearest Bajaj Finserv branch
Q. 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.
Q. Can I save on interest charges by prepaying my Bajaj Finserv personal loan?
Yes you can pre-pay your personal loan ahead of time in order to reduce your total interest outgo. However, you do need to pay pre-payment charges of 4% of the principal amount prepaid in such cases.