Bajaj Finserv Personal Loan – Apply Online 2024

Why Choose Bajaj Finserv Personal Loan?

Here are some of the main features of Bajaj Finserv that make it different from others.

Bajaj Finserv Personal Loan Interest Rates 2024

Bajaj Finserv offers one of the lowest personal loan interest rates in India. The rates range from 11.00% Onwards per annum. Let’s just know more about the same below.

Particulars Details
Interest Rates 11.00% Onwards
Loan Amount Up to INR 25 lakh
Loan Tenure 12-60 months
Processing Fees 1-1.5% of loan amount + GST
Prepayment Charges Upto 4% post 1st EMI clearance
Part prepayment Charges 2% on part-payment amount paid+GST

Eligibility Criteria

At Bajaj, salaried are eligible to apply for the loan. However, they need to meet certain eligibility criteria before Bajaj accepts their loan applications. Having said that, this criteria can change from one person to another. So, have a look at the below-mentioned eligibility criteria and see if you are eligible or not:

A person can also check his/her eligibility with the help of a Personal Loan Eligibility Calculator online that works based on the profile of the customer. The device takes into account-Income, Loan Amount, Monthly Expenses – to let you know how much loan amount you can actually avail from a lender to meet your varied needs.

List of Documents Required

The applicant must carry all the documents listed below to avail this unsecured loan:

How to Apply Online at Wishfin?

At Wishfin, the Personal Loan application process for Bajaj Finserv is very simple with easy documentation. You are just a click away. Just visit Wishfin’s website www.wishfin.com and fill the application form with your personal and professional details and your application will be submitted.

There is no collateral required, so the documentation is hassle-free and quick. With the advantage of online application, a person can apply as per his/her convenience and get instant approval as well. In addition to this, an applicant can also check the eligibility in advance on the website and apply for it afterward. However, an applicant can also choose an offline medium, i.e. to visit the bank branch and apply there.

Bajaj Finserv Personal Loan EMI Calculator

A personal loan EMI calculator is the tool used to calculate the EMI you have to pay. A borrower can calculate the monthly installments he is liable to pay and decide his/her affordability. By knowing the EMIs in advance, a person can accordingly manage his/her monthly finances. In the EMI calculator, the mandatory fields to be filled in are:

Let’s just have a better clarity on the same by considering an example below:

Suppose a person is planning to take a loan of INR 2 lakh and is offered the interest rate of 14.00% per annum. Now, the borrower has chosen the loan tenure of 5 years. You can see below the monthly instalments he will have to pay.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

LOAN AMOUNT INTEREST RATE TENURE MONTHLY INSTALMENT TOTAL INTEREST AMOUNT TOTAL AMOUNT
₹ 2,00,000 14% 1 ₹ 17,957 ₹ 15,489 ₹ 2,15,489
₹ 2,00,000 14%2 ₹ 9603 ₹ 30,462 ₹ 2,30,462
₹ 2,00,000 14% 3 ₹ 6836 ₹ 46,079 ₹ 2,46,079
₹ 2,00,000 14% 4 ₹ 5465 ₹ 62,334 ₹ 2,62,334
₹ 2,00,000 14% 5 ₹ 4654 ₹ 79,219 ₹ 2,79,219

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

YEAR PRINCIPAL INTEREST BALANCE AMOUNT
1 ₹ 29,701 ₹ 26,142 ₹ 1,70,298
2 ₹ 34,137 ₹ 21,706 ₹ 1,36,160
3 ₹ 39,235 ₹ 16,608 ₹ 96,925
4 ₹ 45,095 ₹ 10,749 ₹ 51,829
5 ₹ 51,883 ₹ 4014 ₹ 0

Bajaj Personal Loan Status

Loan applicants can track their personal loan status after submitting the application. They can check the status by visiting the website and entering the Case ID/File ID/Loan ID. A person is also supposed to enter the mobile number. Soon after doing the same, the loan application status will be displayed on the screen. Thus, it is absolutely easy and a quick process to know the real-time status of your loan. With the help of this online facility, it is easy for you to know whether your loan application has been accepted, rejected or pending. It is that simple and quick!

Bajaj Personal Loan Customer Care Number

Bajaj Finserv has made it convenient for the customers to ask any queries related to loans. A loan seeker can contact the company at the toll-free number: 020 3957 4151. The executives are always there to listen and solve all your queries and complaints. These experts help you in the best way and are always ready to guide and support you.

Bajaj Personal Loan Login

With the online access to your personal loan account, you can login anytime from anywhere. By using the credentials such as the login ID and password, you can check your personal loan details. With the help of this online facility, everything is now on your fingertips as you can easily manage things on the go. That’s amazing, isn’t it?

Bajaj Personal Loan for your Special Needs

Bajaj Finserv offers customized personal loans to meet the unique needs of customers. The lender offers a loan to the following:

Bajaj Finserv Personal Loan CIBIL Score

To avail a personal loan from Bajaj Finserv, you need to have a good CIBIL score. Yes, your three-digit numeric summary is something on which lenders always keep an eye on. So, make sure that you have a score of 750 or above out of 900 to enjoy a hassle-free journey. With such a score, you could easily grab the best deal. And to keep on getting the best deals, it’s important to maintain a good credit score by keeping in mind certain things such as paying bills on time, etc.

What is Bajaj Finserv Flexi Personal Loan?

The Flexi loan account is the facility wherein a borrower gets the facility to prepay and draw-down money within the drop-line facility. A borrower can also opt for a self-service process to save time. This flexi loan allows you to borrow the funds anytime you need it and pre-pay when you can from a single pre-approved loan limit. All that can happen instantly.

Benefits of Bajaj Finserv Flexi Loans

If a person chooses the flexi loan facility, he/she can save interest cost by pre-paying any additional or idle funds (if any) without paying any charges on the part-paid amount. Here are some of the benefits of flexi loans over an existing term loan that will help you in taking a decision henceforth:

Hybrid Flexi Personal Loan EMI Calculator

If you opt for the Bajaj Flexi Personal Loan, ensure you use the Hybrid Flexi Personal Loan EMI Calculator too. This will work differently to the Personal Loan EMI Calculator elaborated above. Let’s check out how you can use the calculator to compute repayment estimates for you.

Now under the Enter Your Transactions Below section, you will need to do as follows –

Once you do all these, the repayment schedule will pop up on your screen.

Flexi Day-wise Interest Calculator

You can even check the interest charged on a daily basis using the Flexi Day-wise Interest Calculator. Here’s what you need to do to check the interest payment.

Depending on your withdrawals and deposits, the repayment summary will change.

How to Apply

Eligibility Criteria for Bajaj Finserv Flexi Personal Loan

To apply for Flexi Loan, an applicant needs to fulfill the below mentioned eligibility criteria:

Bajaj Finserv Personal Loan Policies According to Locations, Company Categories

Bajaj Finserv has introduced new personal loan policies based on your location and the type of company you work at. Prime locations include Mumbai, Delhi, Bangalore, Kolkata, Chennai, Hyderabad, Ahmedabad, etc. Whereas, growth locations include tier-II and tier-III cities such as Nagpur, Indore, Vadodara, Patna, Kanpur, Bhubaneshwar, etc.

Bajaj Finserv Personal Loan Policies for Customers Residing in Prime Locations

The table below shows the personal loan offers for people residing in prime locations based on the type of company they work with. Plus, it will also detail on your office and employment verification Bajaj Finserv will undertake from its end.

Bajaj Finserv Personal Loan Policies for Customers Residing in Growth Locations

The table below shows the personal loan offers for people residing in growth locations based on the type of company they work with. Plus, it will also detail on your office and employment verification Bajaj Finserv will undertake from its end.

Bajaj Finserv Personal Loan FAQs

1. How to get a personal loan from Bajaj Finserv?

Visit the Bajaj Finserv official website or fill the form above to apply for a personal loan. Enter a few details like your KYC information and income information. Verify this information by entering the OTP that you will receive on your mobile number. Select the loan amount and submit your loan application.

2. How much time Bajaj Finserv takes to approve a personal loan?

Generally, Bajaj Finserv approves personal loan applications instantly. In some cases, it may take up to 7 business days to approve a personal loan application.

3. How long does it take to get a personal loan from Bajaj Finserv?

It takes less than 5 minutes to submit your loan application. Moreover, the bank can take anywhere from 1 to 7 working days to verify and approve your loan application.

4. What is the minimum personal loan amount in Bajaj Finserv?

There are several factors like the applicant’s Income, Existing loans, Monthly Expenses, CIBIL score, etc. to determine the loan amount. The minimum salary required to apply for a Bajaj Finserv personal loan is INR 22,000. The minimum salary requirement also depends from one city to another.

5. Can I take 2 personal loans from Bajaj Finserv?

Yes you can apply for 2 personal loans from Bajaj Finserv but it is not advisable to apply for multiple unsecured loans. Make sure you have a high salary before applying for a second loan otherwise the lender might consider you a high risk candidate.

6. What are the documents required to apply for a Bajaj Finserv personal loan?

The following are the required documents to apply for a Bajaj Finserv personal loan:

7. Who is eligible to take Bajaj Finserv personal loan?

Any Indian citizen who is a salaried employee within the age group of 23 years to 59 years old can apply for a Bajaj Finserv Personal Loan. Also, the net monthly salary of the applicant should be atleast INR 22,000 or even INR 40,000 in some cities.

8. What documents are required for Bajaj Finserv personal loan?

The documents required for Bajaj Finserv personal loan are as follows:

9. How to check my personal loan status in Bajaj Finserv?

You can check your personal loan status by using the Bajaj Finserv website. You just need to follow the below mentioned steps:

10. Who can be your co-borrower in Bajaj Finserv personal loan application?

Your spouse, parents or even your siblings can be your co-borrowers in Bajaj Finserv personal loan. Adding a co-borrower increases your chances of getting approval on your loan application. However, keep in mind that the co-borrower would also need to fulfill the eligibility criteria.

11. What is the minimum CIBIL score required for Bajaj Finserv personal loan in India?

You need a CIBIL score of 750 or more in order to be able to apply for a Bajaj Finserv personal loan in India.

12. How to close Bajaj Finserv personal loan?

When you pay the last EMI of your Bajaj Finserv personal loan, your loan will be automatically closed and you will receive a NOC (No Objection Certificate) from your lender which will act as a proof document for the loan closure.

13. How to foreclose Bajaj Finserv personal loan?

To foreclose your Bajaj Finserv personal loan you need to follow the following steps:

14. How to pay Bajaj Finserv personal loan?

You can use the following methods to pay your Bajaj Finserv personal loan:

15. How to check personal loan balance in Bajaj Finserv?

You can check your personal loan balance by using the official Bajaj Finserv website or smart phone application. Another way is to visit your nearest branch for instant access to your loan statement.

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