Bajaj Finance Personal Loan

Type of Fees	Charges Applicable
Interest rates	12.99% onwards
Processing Fees	2.25% – 3% of the Loan Amount
EMI Bounce Charges	Rs 1200 per Bounce
Penal Interest	2.38% default interest including taxes per month
Secure Fee (Applicable only for Online Approvals)	Rs 4,499

Compare other banks personal loan interest rates

Instant Approval	The personal loan with Bajaj Finserv is easily available, and the loan application process is also simple for new customers to ensure easy approval of the loan and fast loan amount disbursement.
Amount in Bank in 24 hours	With its fast loan processing, Bajaj Finserv makes sure the loan amount is disbursed quickly and the customer receives their desired amount in their bank account in 24 hours after approval.
Pay up to 45% Lower EMI	With their Flexi Personal Loan feature, the customers can now borrow up to Rs 25 Lakh with up to 45% lower EMI.
Loan up to Rs 25 Lakh	Bajaj Finserv promises to take care of all the financial obligations, for which, one can easily avail personal loan up to Rs 25 Lakh with a simplified online process.
Minimal Documentation	The digital loan application process requires very few documents in order to apply for personal loan with Bajaj Finserv.
Flexible Tenure	Bajaj Finserv offers repayment tenure ranging from 12 months to 60 months so one can choose the loan tenure according to their repayment capability.
Collateral Free Loan	With Bajaj Finserv, there is no requirement of having a guarantor or a collateral when it comes to applying for a personal loan.
Pre-Approved Offers	The organisation also offers quick and easy pre-approved personal loan. All one needs to do is share the basic details with the company and they can avail pre-approved offers on their personal loan.

There are customised personal loan offers for different occupations:

1. Government Employees: Individuals employed by the Government, can avail customized offers by availing the personal loan for Government Employees.
2. Teachers: Bajaj Finserv offers personal loan for teachers as well. They can now overcome their financial obligations by availing personal loan for teacher with Bajaj Finserv where one can apply for loan amount up to Rs. 25 lakh and disbursal within 24hrs.
3. Personal Loan for Women: Bajaj Finserv has an exclusive personal loan offer for women that offers low interest rates and easy flexible repayment tenure. So, in any financial difficulty, women can now easily avail personal loan from the organisation.

One can apply for a personal loan with Bajaj Finserv easily if they meet the eligibility criteria set by the organisation which includes:

1. Applicant must be between 23 and 58 years of age.
2. To avail personal loan, one must be a salaried employee with MNC, private or Public Company.
3. Should be a citizen of India.

The organization also takes into account the minimum salary required for personal loan. The minimum salary per month for applicants from different cities is as follows:

• For Bengaluru, Delhi, Pune, Mumbai Hyderabad, Chennai, Coimbatore, Ghaziabad, Noida and Thane, the minimum net monthly salary needs to be Rs. 37,000/Month.
• For Ahmedabad, Kolkata, Cochin, Nagpur and Jaipur, the minimum net monthly salary needs to be Rs. 32,000/Month.
• For Goa, Lucknow, Baroda, Indore, Bhubhaneshwar, Vizag, Nasik, Aurangabad, Madurai, Mysore, Bhopal, Jamnagar, Kolhapur, Raipur, Trichy, Trivandrum, Vapi, Vijayawada, Jodhpur, Calicut and Rajkot, the minimum net monthly salary needs to be Rs. 27,000/Month.

In order to avail personal loan from Bajaj Finserv, following documents are important:

1. Identity Proof: A copy of Aadhaar, Driving License, Passport or Voter ID can be used as identify proof with Bajaj Finserv.
2. Employee ID Proof: Employee ID proof is important in order for the organization to authenticate if the applicant is salaried. Bajaj Finserv provides personal loan to salaried individuals only.
3. Salary Slips of previous 2 months: Salary slip is required to meet the eligibility criteria set by the organisation. Salary slip is one of the main eligibility point on which the organization decides whether the applicant is eligible for personal loan or not.
4. Bank Account Statement of salary account, for last 3 months: These documents are required to verify the applicant’s income status prior to making the application for Bajaj Finserv personal loan. With this document, the creditworthiness of the applicant is also checked.

One of the important decisions before going for personal loan is to decide for what purpose you want the loan for and the exact amount for your requirement. This analysis will help you to make the correct decision on the personal loan. You can apply for Bajaj Finsev’s Personal Loan in four simple steps:

STEP 1: Fill in your details online – Personal, financial and employment details

STEP 2: Select the Loan Amount that you want for your requirements

STEP 3: Submit all your documents with their representative

STEP 4: Receive your loan amount straight in your bank account in 24 hours after approval

Q. What is the maximum loan amount you can get while you apply for a salaried personal loan?

Ans: One can avail maximum loan amount up to Rs 25 Lakh, however, the final amount sanctioned will depend on the applicant’s income, CIBIL Score and other eligibility criteria.

Q. What are the personal loan tenure options?

Ans: The personal loan tenure options ranges from 12 months to 60 months, depending on the applicant’s preference and loan sanctioning conditions.

Q. How can one check the status of the loan, which has been applied online?

Ans: The applicant can call the customer care service on 1800-103-35. A unique reference number will be given by Email and SMS. On providing the details, you will be informed of the status of your loan application.

Q. What is Secure Fee for online application?

Ans: The secure fee depends and varies from organisation to organisation and is a charge that must be paid for submitting or processing the loan application form online.

Q. How will one get to know about the personal loan details?

Ans: The organisation gives a welcome kit over the Email consisting of:

1. All the loan details
2. User Id and Password for Experia (Bajaj Finserv Personal Loan portal)
3. Registered bank account details for all transactions
4. Unique Virtual Account Number
5. Registered Mobile Number
6. Reference service guide to help understand the product

Q. Are there any charges on pre-payment against Flexi Loan?

Ans: There is no charge for Pre-payment. As a flexi loan customer, one can transact any number of times.

Q. How much time will it take to credit money into the bank account?

Ans: Bajaj Finserv uses RTGS/NEFT for money transfers therefore the loan amount will be credited to the bank account within the mentioned guideline by the organisation.

Q. How and when can Flexi Loan be pre-closed?

Ans: One can make a pre-payment or pre-closure up to any amount without incurring any additional fees. The Pre-Payment can be made by RTGS only to the assigned account given to the applicant. If one wants to discontinue the loan facility, they can pay the entire balance amount in the loan account, including interest along with request for foreclosure. To raise a request for foreclosure- visit Experia/We Care/Customer Number/Branch.

Q. Are there any foreclosure charges for Flexi Loan?

Ans: Foreclosure charges for Pure Flexi Loans will be calculated on the disbursed amount and for Flexi Loans on current POS outstanding.