There are different types of loan products available in the market; however, a personal loan is one of the most common forms of borrowing. With an unsecured personal loan means you do not require to pledge an asset to receive the funds. The main reason behind the popularity of the loan is the end-use. You can use this loan for any purpose, whether it be a wedding expense, home renovation or a medical emergency.
The procedure for applying for a personal loan online is quite simple and can be done with ease. You will also require the right set of documents to get the loan approved and the loan process to move ahead smoothly. To apply for the personal loan, it is advisable to check your personal loan eligibility. The eligibility criteria for a personal loan is quite basic.
Bajaj Finserv personal loan eligibility criteria require applicants to be Indian citizens, aged between 23 and 58 years and employed with a private company, public company or an MNC. A stable income shows that you have the ability to repay the loan in time. You need to meet the salary requirement as per your city of residence to qualify for the loan. You can use the Bajaj Finserv personal loan eligibility calculator to estimate whether you are eligible for the personal loan or not.
To apply for a personal loan with Finserv MARKETS, you need to submit the below-mentioned documents.
Proof of Identity documents, which include your PAN card, Passport, Voter’s ID card, Driving license or Aadhaar card; you can choose to provide any of the documents mentioned here
Proof of residence documents which include the gas bill, electricity bill, passport, lease deed or license agreement
Proof of income documents, which include the income details of the last three months; you need to provide the bank statements for the last three months. It will be used to calculate the outstanding loans, the credit score, credit history and your ability to repay the loan in time.
Salary slips for the previous three months
Three passport-sized photographs
When you fill-up the application form, you will be asked to submit the requisite documents. Start by personal loan eligibility check and simply submit the documents to avail of the funds. You can repay the loan with the flexible repayment tenure ranging from 12 months to 60 months. The personal loan eligibility calculator is available online and is easy-to-use. You will have to provide details about your age, city of residence, and monthly income and expenses. The calculator will give you an estimate and inform you if you are eligible for the loan or not. It will also show the amount of money you are eligible to borrow. If you have a high monthly income, your loan amount will be high because your repayment capacity will also be on the higher side.
Learn more about instant personal loan
Since, Bajaj Finserv Personal Loan by Finserv MARKETS are unsecured loan it offers you instant help in times of need. The complete online application process for this loan is hassle-free, requires minimal documentation and can be approved within minutes. Get an instant personal loan of up to 25 lakh and fulfill all your necessities.
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