The Bajaj Finserv EMI Network Card comes with a pre-approved loan limit of up to ₹3 Lakhs. However, depending on certain factors, your loan limit may be lower. The loan limit extended to you is often determined by your CIBIL score, credit history, and more. The good news is you can increase your pre-approved loan limit.
Here’s how you can go about increasing the pre-approved limit on your Bajaj Finserv EMI Network Card:
Head to the official website of Bajaj Finserv
Proceed by adding your mobile number along with the received OTP
Add your date of birth and verify your details
Under the 'My Relations' section, select the Bajaj Finserv EMI Network Card
Navigate to 'Quick Actions' and click on the 'increase limit option
Verify your new limit and proceed
Note: If your proposal gets approved, then you will need to pay the loan limit enhancement fee.
Disclaimer: Please note that Bajaj Finserv can choose to accept or deny your request for a loan enhancement depending on your profile and internal policies.
Here are some factors that could affect Bajaj Finserv’s decision to approve or reject your loan enhancement request:
A good credit score signals to creditors that you are a financially disciplined person who has a history of making repayments on time. So, they will be more willing to extend credit to you. Not only this, they are also more inclined to offer you a higher credit limit.
Your income is another important factor in determining your pre-approved loan limit and the decision to enhance it. The general idea is that if your annual income is high and consistent, then you’re unlikely to default on EMIs. So, if you can show that your income is both regular and high, then your loan enhancement process will probably be simple.
When you request a loan enhancement, the first thing your creditor will probably look at is your repayment history. If you’ve been making all your repayments in full and on time, then there is a higher chance that your request will be approved. The creditor is bound to believe that even with a higher loan limit, you will continue to pay your EMIs on time.
You can increase your loan limit on your Bajaj Finserv EMI Network Card by making diligent repayments, which may cause the creditor to review your limit.
The pre-approved loan offered to you depends on a number of factors such as your employment status, income level, credit score, etc. The maximum pre-approved loan offered for the Bajaj Finserv EMI Network Card is ₹3 Lakhs.
There is no specified minimum loan limit offered for the EMI card.
Yes, you can increase your pre-approved loan limit by getting in touch with Bajaj Finserv.
There’s no specified timeline for pre-approved loan enhancement. It depends on the card issuer’s policies. But, if you’re keen on increasing your pre-approved loan limit, start by repaying all your EMIs fully and on time.