Bajaj Finserv personal loans have a limit of up to Rs. 15 lakh and can be availed to get married, pay off medical bills, go on vacation, purchase consumer durables, renovate your home and much more. Currently the interest rate on Bajaj Finserv personal loans starts at 13% p.a. These loans can be availed either online or offline and can be repaid within a flexible tenure ranging from 12 to 60 months. Various key aspects associated with Bajaj Finserv personal loan interest rate such as the lender’s interest calculation method, ways to get a low interest rate on your Bajaj Finserv personal loan, etc. are discussed in detail below:
Bajaj Finserv Personal Loan Interest Rate
The interest rate offered by Bajaj Finserv on a personal loan starts from 13% p.a. However, the actual interest rate offered to an applicant depends on multiple factors including credit score, loan amount, age, occupation, employer, repayment history, etc.

Apply for a Personal Loan online with minimal documentation Apply Now
Fees and charges associated with Bajaj Finserv Personal Loan?
The following is a short list of various fees and charges apart from interest that are applicable on personal loans from Bajaj Finserv:
Processing fees | Up to 4% of the loan amount |
Bounce Charges | Rs. 600 – 1200 per instance (Inclusive of applicable taxes) |
Penal interest | 2% of EMI amount per month + applicable taxes or Rs. 200 per month (including taxes), whichever is higher |
Secure fee (only for online approvals) | Rs. 4,499 |
Outstation cheque collection charges | Rs. 65 + applicable taxes per repayment instrument |
Part-payment charges | Up to 2% of amount prepaid (minimum 2 EMI )+ taxes as applicable |
Foreclosure charges | 4% on principal amount outstanding as on date of foreclosure. |
Bajaj Finserv Interest Rate for Different Types of Loans
The following are the interest rates for various types of personal loans offered by Bajaj Finserv:
Type of Personal Loan | Interest Rate (p.a.) |
Flexi Loan | 11.49% onwards |
Wedding Loan | 11.49% onwards |
Travel Loan | 11.49% onwards |
Medical Loan | 11.49% onwards |
Doctor’s Loan | 14% to 16% |
Chartered Accountant’s Loan | 14% to 15% |
Personal Loan For Self- Employed | Starts from 18% |
Comparison between Bajaj Finserv and other Banks/NBFCs
The following table shows a comparison of Bajaj Finserv Personal Loan interest rates with other leading banks.
Banks/NBFCs | Interest Rates (per annum) |
Bajaj Finserv | 13.00% onwards |
SBI | 9.80%-13.80% |
HDFC Bank | 10.50% – 21% |
Axis Bank | 10.25% onwards |
ICICI Bank | 10.50% onwards |
Kotak Mahindra Bank | 10.99% onwards |
IndusInd Bank | 10.49% onwards |
IDFC First Bank | 10.49% – 25% |
Tata Capital | 10.99% onwards |
How to Get Low Interest Rates on Bajaj Finserv Personal Loan
The following are some ways you can get low interest rate on personal loans from Bajaj Finserv:
- Check your credit score: Your credit score shows your creditworthiness based on how you have performed with loan and credit card debt repayments in the past. Typically a higher credit score, leads to a lower interest rate
- Reputed employer: If you are working with a reputed company, you may get a lower interest rate as compared to an individual working for a start-up. This is because working for a reputed organization reflects job stability and hence chances of repaying the loan on time increases
- Income: Higher the income, higher would be your chances of repaying the loan on time and hence lower would be the interest rate
- Seasonal offers: Banks send notifications through email or SMS to the customers regarding seasonal offers that might be offering a lower interest rate for a limited period of time. These offers are generally available during festive periods
What are the 4 factors that affect interest rates?
1. Credit score: A good credit score indicates that you have been regular with your repayments in the past. Therefore, credit score is often one of the primary factors that influence an individual’s interest rate. If you have a low credit score, you might get a loan with higher interest rate as compared to an individual having a good credit score 2. Income: An individual with a higher income is often considered by lenders to have better repayment capacity. Thus they might get a loan with a lower interest rate as compared to someone with a lower income 3. Relationship with the bank: Having an account in good standing with the bank (current or savings) or paying the bank’s loan on time helps an individual build a good relationship with the bank. Therefore, based on the personal relationship, the bank might offer a lower interest rate on a personal loan 4. Employer’s reputation: Working with a renowned organization and having a stable job can help an individual get a personal loan with lower interest rate as it reflects that you will be able to repay the loan on time due to regular inflow of cash
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.