Bajaj Finserv Personal Loan – Interest Rate, Eligibility and Documentation
Bajaj Finserv Personal Loan – Bajaj Finserv offers flexible personal loans up to Rs. 25 lakhs for salaried professionals, self-employed individuals and business people.
Bajaj Finserv personal loans have minimal eligibility criteria, 75 minute loan approval promise and no collateral requirement for loan amounts up to Rs. 20 lakhs.
Read on to know the complete application process, documentation and loan details to avail financing from Bajaj Finserv.
Details About Bajaj Finserv Personal Loan
- Loan Amount: Rs. 25,000 to Rs. 25 Lakhs
- Interest Rates: @11.99% – 22% per annum based on eligibility
- Loan Tenure: Flexible 12 to 60 months repayment period
- Disbursal Time: 10 seconds E-approval; loan account credit in <24 hrs
Bajaj Finserv Personal Loan Eligibility Norms
To qualify for a Bajaj Finserv Personal Loan, the applicant must:
- Be aged between 23 years – 55 years
- Be employed with a minimum of 2 years of work experience
- Have a healthy credit score of 750 and above
- Draw a minimum salary of Rs. 15,000 per month (metro cities) or Rs. 12,000 per month (non-metro cities)
- Have sufficient documentation to establish income levels/business
- Have repayment capacity based on income levels and financial obligations
Upon meeting the eligibility criteria regarding age, employment, income, credit score and documentation, salaried or self-employed customers can apply for a multi-purpose personal loan from Bajaj Finserv.
Documents Required To Get Bajaj Finserv Personal Loan
When applying for a Bajaj Finserv personal loan, ensure you have the below documents to submit:
- Duly filled loan application form with photographs
- Identity proof – Aadhaar card/PAN card/Passport
- Residence proof – Voter ID/Electricity bill/Rent agreement
- Last three months’ Salary Slips (if salaried)
- Current Bank Account Statements for six months
- Latest Form 16 / Income Tax Returns (for self-employed)
Keep clear copies or scans of these KYC and income documents ready when applying for a Bajaj Finserv personal loan through the online process, offline process or via an in-store representative.
How To Apply For Bajaj Finserv Personal Loan Online
Below are the steps to apply online on the website:
- Visit the Bajaj Finserv loans webpage
- Select the option to apply for a personal loan
- Fill out the personal loan application form with your KYC, income, employment and loan details
- Select the required loan amount, tenure based on eligibility and repayment capacity
- Upload relevant documents and authorizing bank statement access
- Click the submit button after successful form filling and document upload
- If eligible, get e-approval in 10 seconds, along with loan details
- Submit physical documents at the nearest store for verification
- Post verification, loan amount disbursal in less than 24 hrs to account
Thus online application for Bajaj Finserv Personal Loan makes for a seamless and paperless application process.
Applying Offline For Bajaj Finserv Personal Loan
Walk into the nearest Bajaj Finserv branch or an authorized partner store to apply offline:
Step 1: Inquire about eligibility requirements, applicable interest rates and documents required from the customer service representative
Step 2: Fill up the loan application form accurately, including KYC, financial and employment details
Step 3: Attach relevant documents as per the checklist shared by the representative
Step 4: Pay mandatory application fees to submit the form along with the documents
Step 5: Wait as eligibility criteria and income levels get checked along with the CIBIL score
Step 6: If eligible, get e-approval immediately and share more documents if needed
Step 7: With minimum documentation, the loan gets disbursed into the account within 24 hrs
The experienced partner staff helps ensure a seamless application experience when applying offline for Bajaj Finserv Personal Loan.
Key Features About Bajaj Finserv Personal Loan
- No collateral or guarantor is needed for loans up to Rs. 20 lakhs
- Flexible repayment period ranging from 12 months to 60 months
- Loan amount up to Rs. 20 lakhs if annual income exceeds Rs.3 lakhs
- 0 part-prepayment and foreclosure charges on floating interest rates
- Online Account access to track loan details and make payments
- Fast processing and loan approval within 75 minutes!
Bajaj Finserv Personal Loan Interest Rates
Basis factors like income levels, employment stability, credit score range and place of residence –
The interest rate varies from applicant to applicant in the range of @11.99% per annum to @22% per annum. The higher your creditworthiness, the better terms can be availed, so focus on maintaining healthy credit score levels.
Bajaj Finserv Personal Loan Tenure Options
New Customers – can choose loan repayment tenure between 12 months to 60 months based on requirements and repayment capacity.
Existing Bajaj customers with good repayment track record – get additional flexibility to customize tenures beyond the 60-month repayment period. Discuss the best options with the loan experts.
A higher repayment period lowers the Equated Monthly Installments (EMI) amount, albeit at increased interest. Choose a comfortable EMI and repayment period which aligns best with your income receipts and financial obligations.
Tracking Personal Loan Status From Bajaj Finserv
Post applying – whether online or offline – you can easily track the status of your Bajaj Finserv Personal Loan application through:
- Customer portal using login credentials
- Placing a call on the toll-free helpline number to speak with an expert
- Through email and SMS communication on registered contact details
- Via authorized partner outlets who assist through the process
On approval, the disbursal happens within 24 hours in the bank account provided during the application process. Repayment begins as per tenure chosen through standing instructions/ECS or post-dated debit mandate submitted.
How To Contact Bajaj Finserv For Personal Loan Process
For any queries on the personal loan offering from Bajaj Finserv – amount eligibility, documentation, interest rate or application process – multiple channels can be used including:
- Call on tollfree number 1800 209 3344 between 9:30 AM to 6:30 PM
- Email queries to wecare@bajajfinserv.in, which get responded to by experts in due time
- Chat online through https://www.bajajfinserv.in website for instant responses
- Visit our nearest branch or partner outlet for personal discussion
We hope the detailed process on how to get a personal loan from Bajaj Finserv has been helpful. Apply now online/offline to enjoy financing on flexible terms for your lifestyle requirements!
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