Bajaj Finance Personal Loan

Bajaj Finance Personal Loan Details

The Bajaj Finance Instant Personal Loan is a smart choice for you, if you need funds without any hassles. You can access an ample sanction, and get it on affordable terms. Check out the Bajaj Finance Personal Loan details here:

Disclaimer: Above-mentioned rates and charges are subject to changes at the lender’s discretion. 

Bajaj Finance Personal Loan Interest Rate

The Bajaj Finance Personal Loan interest rates start from 13.5% p.a. However, the interest rate of a personal loan can vary depending on your loan tenure and the borrowed amount. 

Here are a few factors affecting personal loan interest rates:

• CIBIL/credit score

• Your monthly income

• Your association with the lender

• Economic conditions of the market

• Your repayment ability

Remember that the interest rate of a personal loan affects the EMI you have to pay. A higher interest rate means a higher EMI. Hence, checking the interest rate of a lender is crucial when planning to get a personal loan.

Thankfully, Bajaj Finance Personal Loan interest rate is competitive, helping you easily manage your finances. That said, you can always use a personal loan EMI calculator to compute your monthly instalments before opting for a personal loan. 

Bajaj Finance Processing Fees & Charges

Check out the table to understand the Bajaj Finance processing fee for a personal loan.

Bajaj Finance Loan: Eligibility Criteria

You have to meet the following 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 be between 21-67 years of age

• You must be an employee of a private company, a public company, or an MNC of repute

• You should be earning a minimum monthly salary of ₹25,000, depending on the city you reside

• You must have a CIBIL score of at least 685 or higher

Bajaj Finance Loan: Documents Required

Now that you are clear about the Personal Loan eligibility criteria, knowing the documents required for a personal loan in Bajaj Finance is just as important. To get easy approval, you must submit: 

• Aadhaar card/passport/driving licence/PAN card/Voter ID

• Salary slips for the previous 3 months

• Bank statement for last 3 months

Furnish these Bajaj Finance Personal Loan documents for quick and hassle-free approval within minutes!

About Flexi Loan Facility

With Flexi 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. In addition, there are no charges associated with prepayment.

Also, you get the option to pay only interest as EMI for the first few years, and the principal amount can be paid during the later phase of the repayment period. 

For example, if you have been sanctioned a loan of ₹5 Lakhs and have withdrawn ₹2 Lakhs, you will have to pay interest on what you withdraw. This eases the process of repayment. Also, you can make multiple withdrawals. 

Calculate Your EMI

Your EMI is dependent on your loan amount, rate of interest, and tenure. It is important to remember that the longer the tenure, the lower the EMI amount. However, a longer repayment tenure will result in higher interest payments, so pick a tenure accordingly. 

You can calculate the amount of monthly instalments with the help of a personal loan EMI calculator. All you must do is enter the desired loan amount, the predetermined rate of interest, and the tenure of your choice on the calculator. 

Once you feed in all this information, the algorithm-based tool will give you an accurate estimate of your personal loan EMI. You can change the variables until you arrive at a number that’s comfortable in your pocket.

So, calculate the EMI and choose a comfortable repayment option when you apply for a Bajaj Finance Personal Loan.

Features and Benefits of Bajaj Finance Personal Loan

It is enough to know the Bajaj Finance Personal Loan processing fee, interest rates and eligibility criteria. You should also note the features of this loan. 

Here is a quick overview:

• No Collateral Needed

To avail a personal loan from Bajaj Finance, there is no need to provide collateral. All you must do is fulfil the basic personal loan eligibility criteria and submit the required documents.

If your paperwork is verified, the money will be credited to your account within a few days.

• Flexible Repayment Tenure

You get a period of up to 60 months to repay your Bajaj Finance Personal Loan. That way, you will be able to pay off your personal loan obligations with ease.

However, you must remember that the repayment tenure offered to you will depend on your personal credit profile.

• Pay up to 45% Less in EMIs at the Start

If you go for the Flexi Loan option, you will only need to pay the interest component of your personal loan amount during the initial phases of the repayment tenure. Then, after that, the principal amount will need to be repaid.

This way, you will be able to have more money to spare in your bank account during these initial months. Note that the length of your interest component payment months and the principal component payment months will depend on the internal policies of the lender.

• Complete Transparency in Charges

Bajaj Finance is completely transparent regarding the fees and charges that will be applicable to you. This means there are no such charges you will not be informed about beforehand.

• Competitive Interest Rates

You can get a Bajaj Finance Personal Loan at interest rates starting from just 13.5% per annum. However, you must remember that the final interest rate applicable to you will depend on your eligibility and credit score.

Comparison of Bajaj Finance Personal Loan Interest Rates with Other Partner Lenders

Given below is an overview of the personal loan interest rates offered by partners on Bajaj Markets. Comparing the interest rate will enable you to get the funding you need at an affordable cost.

Disclaimer: The above interest rates and loan amount may vary at the lender’s discretion and your loan application.

Know How Bajaj Finance Personal Loans Can Help You

The Bajaj Finance Personal Loan helps you borrow funds multiple times, and you can make a part-prepayment when you choose, at no extra charges. Thanks to the Flexi option, you can get quick funds to manage unexpected financial emergencies.

This loan can be your go-to financing option to meet both your planned and unplanned expenses. With flexible tenure options, you can choose a convenient repayment schedule that can help you manage your monthly budget stress-free.

The quick loan disbursal feature ensures quick access to funds, especially during unforeseen medical emergencies. Furthermore, you need to submit only minimal documentation when you apply for a Bajaj Finance Personal Loan.

Also, if you have a spotless credit history with a good credit score, Bajaj Finance extends pre-approved loan offers to its existing customers. Furthermore, you can choose from different types of personal loans, such as wedding/marriage loans, travel loans, educational loans, depending on your requirements.

How to Apply for Bajaj Finance Personal Loans 

You can avail a personal loan by visiting the Bajaj Finance website or on Bajaj Markets.  

Here are the steps to follow when applying for a Bajaj Finance Personal Loan at Bajaj Markets.

• Step 1: Click on “Apply Now” on this page.

• Step 2: Input your basic details like profession, date of birth, name, pincode and check your loan offer

• Step 3: Enter additional details and select the Bajaj Finance Personal Loan amount and repayment tenure

• Step 4: Get online approval in minutes and get the money disbursed to your bank account within a few days 

Bajaj Finance Personal Loan Customer Care Details

If you have any queries or grievances, you can reach out to Bajaj Finance through their customer care number at 08698 010101 and have your queries resolved. You can even get assistance via SMS. 

All you must do is text ‘EMI LAN’ on the Bajaj Finance Helpline Number at +91 92275 64444.