Whenever you need to borrow money, the first step is deciding how to do it. You might find lenders who are willing to help but a personal loan is a great option under any circumstances. Every day thousands avail personal loans to consolidate debt, pay for unexpected expenses, home and office renovations and more. That is why the personal loans category has reported strong growth in India over the last few years, with a CAGR of around 22 per cent during FY 2013-2019. And why not? After all, personal loan is an easy way to get cash fairly quickly and alleviate financial hardships in an unsecured manner, where less or no collateral is required.
To make it easier for you, the approval process for a Bajaj Finance personal loan on Finserv MARKETS takes flat three minutes with all your documents in order and the amount gets credited to your account within 24 hours. With Bajaj Finance personal loans, funds of up to Rs.25 lakh are just a few clicks away. Also, you can repay the amount over a flexible tenure, of up to 60 months.
Bajaj Finance Personal Loan Eligibility Criteria
A personal loan can be applied for not only during sudden financial emergencies but whenever you’re in need of funds, say for planning a wedding or a trip abroad. So, if you are looking for instant funds with minimum documentation, you can choose the Bajaj Finance personal loan, available on Finserv MARKETS. For this you are required to meet the following eligibility criteria:
Citizenship: The first and the foremost criteria is that the applicant must be a citizen of India.
Age: You should be between 25 and 58 years of age to qualify for instant funds.
Employment: One of the most important aspects that’s taken into consideration for a personal loan is that the applicant should be employed. To qualify for a Bajaj Finance personal loan, you must be a salaried employee working with an MNC, private or any public company.
Salary: Your salary also plays an important role in the loan approval process. This is primarily because personal loans are generally unsecured and therefore, lenders want to make sure that you can repay the amount in time. The minimum net salary required to avail a Bajaj Finance personal loan, available on Finserv MARKETS, depends upon your city of residence. For example, if you hail from Tier- I cities like Delhi, Bengaluru, your monthly salary should not be less than Rs. 37,000 per month. For those living in Tier- II cities, like Ahmedabad and Jaipur, it’s Rs. 27,000 per month.
Credit Score: Lenders also consider the CIBIL score or credit rating of the applicant while granting personal loans. With a CIBIL score of 750 or above, you can get instant loan approval.
Documents Required for Personal Loan
If an applicant is a salaried employee, which is one of the criteria to avail personal loan, he is required to submit the following documents.
- Aadhaar Card, Voter ID card, driving license or some other document for KYC process.
- He will have to submit a copy of his employee ID card as an employment proof.
- Bank account statement of last three months related to the salary account.
Here’s How You Can Check Your Bajaj Finance Personal Loan Eligibility
You can check Bajaj Finance personal loan eligibility in a convenient and hassle-free manner by using the Personal Loan Eligibility Calculator, available on Finserv MARKETS. Here, you simply need to enter your city of residence, date of birth, salary and monthly expenses. After providing these details, you’ll get the exact information about the amount you’re eligible for.
Benefits of personal loan
Flexible: A personal loan is flexible in nature and can be used for any purpose. There are absolutely no restrictions on its usage.
No Collateral: A personal loan is an unsecured loan, so you don’t no need to provide any of your assets collateral for the amount.
Fast Dispersal: Your personal loan application can be approved within just five minutes if you meet the basic eligibility criteria.
In a quick solution to your financial needs, you can avail up to Rs. 25 lakh at lowest interest rates with Bajaj Finance personal loan, available on Finserv MARKETS. You can also choose a tenure that suits your budget and repayment capacity. So, need extra cash to pay for home remodeling and repairs, a wedding or to consolidate debt? The Bajaj Finance personal loan on Finserv MARKETS can be just the thing for you.
Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.