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Bajaj Finserv Personal Loan Eligibility Criteria

Life is uncertain and an emergency fund requirement may arise without any warning. A sudden illness or an accident may leave you in want of liquidity. Applying for secured facilities like a loan against property is a long and cumbersome procedure and does not help to meet emergency fund requirements.

Bajaj Finserv personal loan is available instantly on Bajaj Markets and does not require you to undergo a long and complex approval procedure.

Bajaj Finserv Personal Loan Eligibility Criteria

To be eligible for a Personal Loan, you need to fulfill the following eligibility criteria:

  • You must be an Indian resident
  • You must be a salaried individual working in private/public/multinational company
  • Your age must be between 25-58 years of age
  • Your minimum monthly salary must be between Rs. 25,000- Rs. 35,000. (This depends on the location of your residence)

How to Check Bajaj Finance Personal Loan Eligibility

If you wish to apply for a personal loan, you can determine your eligibility, by using the Personal Loan Eligibility Calculator on Finserv MARKETS. Here’s how you can check the personal loan eligibility:

Step 1: Open the loan eligibility calculator

Step 2: Enter your monthly income and the total EMI amount you plan to repay, once you avail your loan

Step 3: Once you enter these fields with your details, the tool will show an amount that you will be eligible for.

Documents Required For Bajaj Finserv Personal Loan

You will need to submit the following documents for Bajaj Finserv Personal Loan:

  • Proof of identity, like Passport, PAN card, Aadhaar card, Voter’s ID card, and Driving license.
  • Proof of residence like- Electricity bill, Gas bill, Passport, or Leave and License agreement.
  • Bank Statement for the last 3 months with income details.
  • Your salary slips for the last 3 months.
  • Recent Passport size photographs.

FAQ about Bajaj Finserv Personal Loan Eligibility

✔️Can I apply for multiple loans if I’m eligible for more than one loan?

Though not recommended, you can apply for multiple loans at one time. But this can negatively impact your credit score and thus reduce your chances of getting a loan.

✔️I am currently pursuing my post-graduation. Can I apply for a personal loan?

Bajaj Finserv Personal Loans are currently available only for Salaried employees.

✔️Will I be eligible to get a personal loan if I don’t have a guarantor?

Personal loans are unsecured in nature and hence you need a guarantor.

✔️How long do lenders take to disburse the loan amount?

It usually takes 24 hours for the lender to disburse the loan amount

✔️How does my credit history affect my eligibility for a personal loan?

Credit history plays a major role in your eligibility for a Personal Loan. If you have a good credit history, you can get loans of higher amounts and at attractive interest rates.