If you are looking to maintain an emergency fund or need easy access to high amounts, apply for a Bajaj Finance Personal Loan on Bajaj Markets. Opt for a term loan or a hybrid flexi loan to fulfil all your financial requirements and borrow amounts of up to ₹35 Lakhs. These loans are available at low interest rates starting from 11% p.a. for tenures ranging up to 6 years.
Bajaj Finance Personal Loan interest rates and associated charges are as follows:
Interest Rate |
11% to 38% p.a. |
Processing Charges |
Up to 3.93% (Inclusive of applicable taxes) of the loan amount |
Part-prepayment Charges |
Up to 4.72% (Inclusive of applicable taxes) |
Loan Foreclosure Charges |
Up to 4.72% (Inclusive of applicable taxes) |
AMC |
|
Penal Charge |
Delay in payment of instalment(s) shall attract Penal Charge of ₹12 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Cheque Bounce Charges |
In case of default of repayment instrument an amount of ₹700 -₹1,200 per bounce will be levied. |
Stamp Duty |
As per the laws of the state |
Broken Period Interest |
Added to First Instalment |
Instalment Default Charge |
₹450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered |
Flexi Fee |
Term Loan - NA Flexi Hybrid Loan -
|
Cash Collection Handling Charges |
₹177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs |
Cash Deposit Charges |
Customers will incur a cash deposition charge of ₹50 (Inclusive of Applicable taxes) when making cash payments at our branch offices |
PG facility charges |
₹11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties |
*Disclaimer: The details mentioned above are subject to changes as per the terms and policies of the lender.
For Micro Finance Loans, please note below:
Purchase of any non-credit product by the micro-finance borrowers is purely on a voluntary basis. Minimum interest, Maximum interest and average interest are 11%, 38% and 27.45% per annum respectively. Part pre-payment and Foreclosure charges are nil.
With a Flexi Hybrid Loan, you can borrow and instantly withdraw funds from your loan account at your convenience. This differentiates it from traditional term loans and serves as a critical differentiator. Also, you get the option to pay only interest as EMI for the first few years. The principal amount can be paid during the later phase of the repayment period.
Let us understand this better with an example. Assume you have taken a loan of ₹5 Lakhs and then withdrew ₹2 Lakhs. In this case, you will have to pay interest on the ₹2 Lakhs only. Also, you can make multiple withdrawals. You may also opt for a prepayment option without having to pay any additional penalties or charges.
Ensure that you meet the Bajaj Finance Personal Loan eligibility parameters when applying for a loan:
You must be a citizen of India
You must be a salaried individual
You must fall under the age bracket of 21 to 66 years
You must be an employee of a private company, a public company, or an MNC of repute
Your minimum monthly salary should be ₹25,000
You must have a CIBIL score of 685 or above
Make sure to have the required documents handy during the loan application process. These include:
Any one of the following:
Aadhaar card
Passport
Driving licence
Voter ID
Salary slips of the last 3 months
Bank statement of the last 3 months
PAN card
Here’s how you can apply for a Bajaj Finance Personal Loan on Bajaj Markets:
Click on ‘Apply Now’ on this page
Enter your personal and professional information
Select ‘Bajaj Finance’ from the list of lending partners
Choose the required loan amount and preferred repayment tenure
Submit the online application
Following this, a representative will reach out to you for further proceedings
Yes, you can easily get a personal loan from Bajaj Finserv. All you must do is fulfil the basic eligibility criteria, fill up the application form, and upload the required documents on theBajaj Markets portal.
With a personal loan from Bajaj Finserv, you can borrow up to ₹35 Lakhs at interest rates starting from just 11% p.a. Furthermore, you can repay the loan over flexible tenures of up to 6 years.
No. To apply for a personal loan from Bajaj Finance on Bajaj Markets, you must be a salaried individual.
The minimum and maximum loan repayment tenures are 12 months and 72 months, respectively.
If you wish to cancel/exit the loan, you have a window of 3 days from the loan booking date to do so. Within this cooling-off period, you can assess the loan's rates, terms, and conditions.
Also, you will be required to repay the principal amount and the Annual Percentage Rate (APR) charged without paying any penalty. After this period concludes, standard prepayment charges will be applicable, as per RBI guidelines.
For cancellation of the loan during the cooling-off/look-up period, you can visit the customer portal at https://www.bajajfinservmarkets.in/custaccount/#/contact, call on 8698010101, or write to BFL at wecare@bajajfinserv.in . For more details, visit https://www.bajajfinserv.in/
Your credit score, income, employment stability, required loan amount, preferred tenure, and relationship with your lender can have an impact on the interest rate offered to you.
You can make part prepayments or foreclose your personal loan from Bajaj Finance. However, you will be required to pay certain penalties and charges for using this facility.