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How about checking some pre-approved offers you might be eligible for?

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  • Date of birth

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  • Sum Assured
    Premium
    Persons Covered
  • Rate
    5%

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Personal Loan Interest Rates & Charges

Personal loan are a great way to fund your dreams like going on a vacation, for education, for home renovation or for medical emergency. A personal loan is the best option as it comes with no collateral, easy approval and minimal documentation. However whenever applying for a personal loan one always look for interest rates & charges. That is why we at Finserv MARKETS, provide the most attractive Bajaj Finance Personal Loan interest rates with no hidden charges!  

  • Hybrid Flexi
  • Term Loan

  • Interest Rate

    12.99% p.a
    onwards
  • Processing Fees Upto

    3.99%
    of the Loan Amount
  • Foreclosure Charges

    4%
    Of Outstanding Loan Amount + Applicable taxes
  • Annual Maintenance Charges

    0.25%
  • Convenience Fees

    Rs. 4,499
  • Bounce Charges

    Rs. 1,000
    Per bounce + Applicable taxes
  • Penal Interest

    2%
    Per month on Overdue EMI + Applicable taxes
  • ECS Return Fees

    Rs. 450
    Inclusive of taxes
  • Outstation Collection Charges

    Rs. 65
    + Applicable taxes

*The above charges are excluding taxes
These are indicative and subject to change at the discretion of lender/ without prior notice.

  • Interest Rate

    12.99% p.a
    onwards
  • Processing Fees Upto

    3.99%
    of the Loan Amount
  • Foreclosure Charges

    4%
    Of Outstanding Loan Amount + Applicable taxes
  • Convenience Fees

    Rs. 4,499
  • Bounce Charges

    Rs. 1,000
    Per bounce + Applicable taxes
  • Penal Interest

    2%
    Per month on Overdue EMI + Applicable taxes
  • ECS Return Fees

    Rs. 450
    Inclusive of taxes
  • Outstation Collection Charges

    Rs. 65
    + Applicable taxes
  • Part-prepayment Charges

    2%
    On Part-payment Amount + Applicable taxes

*The above charges are excluding taxes
These are indicative and subject to change at the discretion of lender/ without prior notice.

Personal Loan Processing Fee

Bajaj Finserv Personal Loan Interest Rate ranges up to 12.99%p.a to 15.50%p.a. The processing fee for personal loan payable to Bajaj Finserv is Up to Rs. 2,000. Current offer for processing fee is starts from 1.50%, Up to 3%. Besides the regular loan products, bank also offers customized loans for special categories of borrowers. The following are the interest rates of the key products of Finserv MARKETS.

Product

Interest Rate

Flexi Loan

12.99%p.a.- 15.25%p.a.

Term Loan

12.99%p.a. - 15.25%p.a.

Personal Accident Cover

$10,000

Personal Loan Eligibility Criteria

We at Finserv MARKETS offer a very simplistic personal loan eligibility criteria to make the process of availing a personal loan seamless for you. The primary criteria that are taken to conditions are as follows

  • You Should Be an Indian Citizen

  • You Must Be Age Between 23 – 58

  • You Should Be a Salaried Individual

Check out our personal loan eligibility criteria for the entire list of conditions.

Documents Required for Personal Loan

Our documentation process in one of the easiest and safest process wherein you don’t have to carry any documents the whole process is online and paperless. We just require the following documents

  • Any Identity Proof(Aadhaar card, Pan card/Driving License)

  • Any Address Proof(Ration Card, Driving License/Electricity Bill)

  • Last 3 Months Bank Statements

For detailed information on documents and other terms and conditions check out personal loan documents page.

Why Go With Finserv MARKETS?

Availing a personal loan from Finserv MARKETS will always give you the following benefits.

  • Easy Documentation

  • Attractive Interest Rates

  • Quick Disbursal

Explore more about features and benefits of personal loan at Finserv MARKETS.

Main Factors that Affect Personal Loan Interest Rates?

  • Your income

Your bank can trust you on the basis of the income that you are getting. The more income you have, the more chances for you to lowest interest rate personal loan.

  • The company's status

The current status of your company plays a crucial role in deciding personal loan interest rates. CAT A refers to-Top 1000 companies CAT B refers to -Multi-National Companies (MNC's) CAT C refers to-Smaller Companies CAT D refers to-Smaller Companies with 100 Employees have better chances to avail a personal loan.

  • Credit & Payment History

If you have applied for a personal loan and your payment history is not up to the mark, many banks don't consider your profile, and if they do, you will be offered a higher rate of interest. Also, your personal loan application can be approved if you have a good CIBIL score. You can check CIBIL score at Bajaj FInserv MARKETS & get to know about the eligibility for personal loans.

  • Relationship with your Bank

If you are having a salary account or savings account, your bank will more likely to offer you the personal loan at special interest rates or processing fees.

  • Negotiation skills

If you are having an account in a bank for quite a long time, you have maintained a good relationship with the bank. Thus, if you negotiate with the bank on interest rates, fees, etc, it will surely give you the best deal. Depending upon your negotiation skills, you can ask the bank for special offers, and enjoy additional benefits on personal loans.

What is Repo Rate and how does it affect Personal Loans?

Repo rate is also known as “Repurchase Rate” which is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks against collateral such as government securities. The agreement is to repurchase these collaterals at a fixed price in the future. Repo Rate reduces the influence of the lending rate or rate of interest on all mortgages such as personal loans, car loans, housing loans, etc. This reduction in the interest rates is expected to increase the demand for these products. A reduction in the Cash Reserve Ration (CRR) would enhance the availability of funds and bring in more liquidity to the banking system.

This will alternately affect the economy as well, which is one of the reasons why the Reserve Bank of India (RBI) introduces such a change. It is also important to note that the repo rate cut would lead to a reduction in the personal loan interest rates only if the loan has been offered on a floating interest rate basis. If the personal loan is offered on a fixed interest rate basis, then the personal loan interest rates would not be affected if the repo rate changes. Therefore, repo rate cuts will benefit borrowers who are getting a personal loan for the first time. When the bank implements the changes the existing borrowers who have opted for the fixed rate of interest would not benefit from the same.

Frequently Asked Questions on Personal Loan

  • ✔️Should I opt for institutions offering lower interest rates with additional top-ups for my existing personal loan?

    There is no straightforward answer to this as you’ll have to consider multiple factors when dealing with interest rates. This also largely depends on your existing plan and the top-up’s it provides. It would be best if you contact your provider for appropriate guidance.
  • ✔️What are the important factors that I’ll need to consider with regards to my Bajaj Finserv Personal loan?

    Some of the important factors include clearing your existing debt, keeping track of your credit reports, maintaining a good credit score and repaying EMI on time.
  • ✔️What are the benefits of availing a Bajaj Finserv pre-approved Personal loan available on Finserv MARKETS?

    When looking for a Bajaj Finserv loan, the services provided by Finserv MARKETS are unparalleled. We promise 100% transparency and there’s no hidden fees during the Bajaj Finserv lending process. To add the list of benefits, we have a plethora of tailored offers designed to suit your unique needs and requirements. When it comes to Personal loan approval, if everything is in place, Finserv MARKETS does so within just 3 minutes. The Personal loan amount will be disbursed within 24 hours and credited to your straight to your designated bank account.
  • ✔️How to choose the ideal repayment period for my Bajaj Finserv Personal loan?

    For this you’ll have to take into account your monthly budget, interest rates, financial goals and existing liability.
  • ✔️What is the processing fee for personal loans?

    Most banks charge a processing fee of Rs. 999 to up to 2% on personal loans. You can avail the best personal loan depending upon the company you are working with, the loan amount you have applied for and your loan repayment capacity. Higher the loan amount, lower will be the rate of interest on the loan.
  • ✔️How to calculate the personal loan interest rate?

    The interest rate on personal loans is calculated based on factors such as your credit history, monthly income, the amount being borrowed, and others.
  • ✔️What are the minimum and maximum personal loan repayment tenor at Bajaj Finserv?

    The loan repayment tenure on personal loan is 12 months (1 year) to 60 months (5 years).
  • ✔️What is the pre closure charge for personal loans?

    The preclosure charge for a personal loan after 1 EMI's is 4%. And the processing fee of Starting from 1.50%, Up to 3% of the loan amount with applicable tax.
  • ✔️What is repo rate and how does it affect personal loans?

    Repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks. If the repo rate is 5% and the loan amount that the bank has availed from the RBI is Rs. 1000, then the interest paid out by the bank on the same would be Rs. 50. Therefore, a lower repo rate indicates a lower rate of interest charged on personal loans availed from the bank.

Happy Customers of Finserv MARKETS

Getting a loan to take care of my wedding and relieving my parents to enjoy the occasion was the best decision I ever made. Easy-to-apply, amazing interest rate and quick disbursal, what more can one ask for!

I am passionate about the vehicle I drive. I want to protect it with the best available option. What amazed me was the full transparency, quick quotes and the attractive discount on the premium while choosing the annual payment option!

Check your personal loan eligibility in seconds!

My husband and I will finally move into our own house this Diwali. All thanks to Bajaj Finserv, with competitive interest rates, minimal processing fees and easy to repay EMIs, our dream saw the light of reality in no time!

Get the best FD interest rates starting @ 8.40%. Let's start!

Kids grow up fast and to fulfill their dream trip to Disneyland I had everything but instant funds. With no collateral or guarantor required and a hassle-free processing, I gifted my family a memorable trip to Orlando with just a click!

Get sum insured up to 1 Crore! Let's start!

The best way to start looking for health insurance is to do a close study of the coverage needs and checking the insurance company's claim ratio. No unnecessary jargons, easy to apply claims process and choice of premia!

Zero additional charge on part-payment option on Business loans! Let's start!

I bought my first iPhone using my Bajaj Finserv EMI Network Card. Zero downpayment with a No cost EMI on Bajaj Finserv EMI store just made my day!

Get home loan sanctioned online in 72 hours! Let's start!