Personal loans often emerge as saviours in times of despair, when no other sources of funding seem viable or even prudent. Many lenders, recognising a desperate need for money, will often charge you high rates of interest or ensure you pledge a lot of collateral for a minimal sum. With Bajaj Finserv Personal Loan, don’t ever let the hard times win.
Bajaj Finserv Personal Loans interest rates start from as little as 12.99%, and are unsecured loans, which means you don’t have to pledge any collateral to receive the loan. Whether you are or your loved ones are in a medical emergency, or whether you are simply running short on funds for a long-awaited family vacation, avail a Bajaj Finserv Personal Loan to ensure you can afford the best.
You can also apply for the loan online, through Finserv MARKETS, by simply updating your basic information and submitting the required documents. Bajaj Finserv Personal Loan can be approved in as little as three minutes, while the loan amount itself will be in your bank account within 24 hours.
However, in the midst of all this revelry, it is important to consider the amount that you should avail a loan for. While lenders like Bajaj Finserv offer loans of up to Rs. 25 lakh, it is important to decide on a loan amount that you should avail from the lender. Read on to learn about the considerations involved in choosing the right loan amount for you and your individual needs.
- Before you start applying for the loan, settle a sum in your mind that you think will cover all the expenses that you are likely to run up on your loan. It is never a good idea to borrow more than you need, since it may make your spending pattern more careless too. However, with the Bajaj Finserv Hybrid Flexi Personal Loan, you can pay only your interest amount as your Equated Monthly Installment (EMI) and pay up to 45% lower EMIs.
- Keep in mind your own financial considerations and how much as well as how soon you will be able to repay your loan, before settling on the amount you wish to borrow. Consider your existing loans, or any outstanding debts you have, before deciding your loan amount. The Bajaj Finserv Personal Loan also offers you the benefit of prepayment at will. Additionally, you have the freedom to choose a tenure that is appropriate for your needs, anywhere between 12 to 60 months. Head over to Finserv MARKETS right now to choose the loan period and amount that is most suitable for your requirements.
- Before borrowing the loan amount, check if your current income level can support repayment of the loan. Your debt to income ratio (DTI), which is calculated by dividing your total monthly debt obligation by your net income, will be a fair assessment of how much you can afford to repay with your current income level. Since EMIs are also a monthly obligation, your DTI will be able to tell you the amount that you can afford to repay, and thus, the amount you should borrow from your lender. You can even use the online personal loan EMI calculator available on Finserv MARKETS to check how much EMI you would be required to pay, based on your required loan amount. This handy tool will definitely aid your decision-making process before you actually apply for the loan.
Once you have decided on the loan amount that you think is right for you, don’t hesitate. Start planning for your holiday, buy that car you have had your eye on for months. By choosing the Bajaj Finserv Personal Loan, available on Finserv MARKETS, you can apply for your loan instantly online, and even maintain your entire loan statements and history digitally.
Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!