Bajaj Finance Personal Loan Interest Rates Starting @10% p.a.

Salaried Individuals - Check your Loan eligibility!

Loan of up to ₹5 Lakhs | Quick Approval | 100% Digital Application Check Eligibility

You can get a Bajaj Finance Personal Loan at interest rates starting from 10% p.a. Various factors like your credit score and income can influence the interest rate offered. Additionally, other charges like the processing fees and foreclosure fees add to the overall cost of borrowing. Understanding these rates and charges allows you to make well-informed financial decisions. You can also compare Bajaj Finance Personal Loan interest rates with those offered by other lenders on Bajaj Markets before applying.

Details of Bajaj Finance Personal Loan Interest Rates

It is essential to learn about the Bajaj Finance Personal Loan interest rates before applying. The charges applicable on the loan are as follows:

Particulars	Details
Interest Rate	10% to 32% p.a.
Processing Charges	Up to 3.93% (Inclusive of applicable taxes) of the loan amount

*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

Other Fees and Charges Associated with Bajaj Finance Personal Loans

Let’s explore the additional fees and charges applicable to Bajaj Finance Personal Loans:

Particulars	Details
Part-prepayment Charges	Up to 4.72% (Inclusive of applicable taxes) of the principal amount prepaid Not applicable for Flexi Term Loan or Hybrid Flexi
Loan Foreclosure Charges	Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount Flexi Term Loan (Flexi Dropline): Up to 4.72% of the total withdrawable amount Flexi Hybrid Loan: Up to 4.72% of the total withdrawable amount
Annual Maintenance Charges (AMC)	Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 0.295% (Inclusive of applicable taxes) of the total withdrawable amount Flexi Hybrid Loan: Up to 0.295% (Inclusive of applicable taxes) for both initial and subsequent tenures
Penal Charges	₹6 - ₹12 per day per instalment for delayed payments
Bounce Charges	₹700 to ₹1,200 per bounce
Stamp Duty	As per state laws
Broken Period Interest	Added to the first instalment
Flexi Facility Charge	Term Loan: NA Flexi Hybrid Loan: Up to ₹1,999 for loan amounts up to ₹1,99,999 Up to ₹3,999 for loan amounts ranging from ₹2,00,000 to ₹3,99,999 Up to ₹5,999 for loan amounts ranging from ₹4,00,000 to ₹5,99,999 Up to ₹7,999 for loan amounts ranging from ₹6,00,000 to ₹9,99,999 Up to ₹8,999 for loan amounts ranging from ₹10,00,000 to ₹14,99,999 Up to ₹9,999 for loan amounts ranging from ₹15,00,000 to ₹19,99,999 Up to ₹10,999 for loan amounts ranging from ₹20,00,000 to ₹24,99,999 Up to ₹11,999 for loan amounts ranging from ₹25,00,000 to ₹29,99,999 Up to ₹12,999 for loan amounts equal to and above ₹30,00,000

Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Factors Affecting Bajaj Finance Personal Loan Interest Rates

The following factors could influence the interest rate on your Bajaj Finance Personal Loan:

Credit Score: A higher score could make you eligible for lower interest rates
Income: Higher income assures the lender of your repayment ability, potentially reducing your rate
Employment Type: Stable employment or being salaried increases the chances of favourable terms
Loan Tenure: Shorter tenures often result in higher interest rates, while longer ones might result in a lower rate
Debt-to-Income (DTI) Ratio: A lower ratio improves your likelihood of securing competitive interest rates
Government Policies: Economic changes like inflation can influence loan rates

How do Bajaj Finance Personal Loan Interest Rates Affect Your EMIs

Depending on the tenure, interest rate, and loan amount you choose, the interest charges will be calculated. Here’s an example to help you understand this better:

Let’s say you took a loan of ₹10 Lakhs at 10% p.a. for 5 years. Here, you will have to pay an approximate EMI of ₹21,247. Here’s the breakdown of the EMI along with the interest charges you need to pay each year, based on the loan terms.

Tenure	Principal Paid	Interest Charges	Outstanding Dues
1st Year	₹1,62,268	₹92,696	₹8,37,732
2nd Year	₹1,79,259	₹75,706	₹6,58,472
3rd Year	₹1,98,030	₹56,935	₹4,60,442
4th Year	₹2,18,766	₹36,198	₹2,41,675
5th Year	₹2,41,675	₹13,291	₹0

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Keep in mind that adjusting the loan amount, interest rate, or tenure can have a substantial impact on your EMI. Use the EMI calculator on Bajaj Markets to experiment with different options and select loan terms that align with your financial goals and repayment ability. This approach helps you secure a loan that is both affordable and convenient to repay.

Compare Bajaj Finance Personal Loan Interest Rates with Other Partners

Our Partners	Minimum Interest Rate	Maximum Loan Amount	Maximum Loan Tenure
Bajaj Finance Limited	10% p.a.	₹35 Lakhs	96 months
4.7	View Details
CASHe	27% p.a.	₹4 Lakhs	18 months
4.4	View Details
Federal Bank	11% p.a.	₹5 Lakhs	48 months
4	View Details
Fibe	14% p.a.	₹5 Lakhs	36 months
4	View Details
Finnable	15.95% p.a.	₹10 Lakhs	60 months
4	View Details
IIFL Finance	18% p.a.	₹5 Lakhs	42 months
4.1	View Details
InCred	16% p.a.	₹10 Lakhs	60 months
4.3	View Details
Kissht	14% p.a.	₹4 Lakhs	24 months
4.2	View Details
Kotak Mahindra Bank	10.99% p.a.	₹40 Lakhs	72 months
4.2	View Details
KreditBee	14% p.a.	₹5 Lakhs	24 months
4.1	View Details
L&T Finance	12% p.a.	₹7 Lakhs	48 months
4.6	View Details
moneyview	1.33% p.m.	₹10 Lakhs	60 months
4.2	View Details
mPokket	24% p.a.	₹45,000	90 days
4.1	View Details
Muthoot Finance	14.50% p.a.	₹15 Lakhs	60 months
4	View Details
Olyv	18% p.a.	₹1 Lakh	12 months
4.1	View Details
PaySense Partners	15% p.a.	₹5 Lakhs	60 months
4.3	View Details
Privo	9.99% p.a.	₹5 Lakhs	60 months
4.5	View Details
SMFG India Credit	12% p.a.	₹25 Lakhs	60 months
4.2	View Details
Upwards	1.5% p.m.	₹5 Lakhs	36 months
4.3	View Details
YES BANK	10.99% p.a.	₹50 Lakhs	72 months
4.2	View Details
Zype	18% p.a.	₹3 Lakhs	12 months
4	View Details

Does Bajaj Finance provide fixed or floating interest rates for personal loans?

Primarily, Bajaj Finance levies fixed interest rates on their personal loans. However, this is subject to your eligibility and Bajaj Finance’s policies. Contact the lender and check the type of interest offered to you before getting the loan.

Does Bajaj Finance offer reducing balance interest rates on personal loans?

The interest calculation method of Bajaj Finance is subject to their policies and the specifics of your loan agreement. Reach out to the lender to get more clarity regarding the matter before applying.

Does my credit score affect the interest rate on a Bajaj Finance Personal Loan?

Your credit score plays a significant role in determining the interest rate on your Bajaj Finance Personal Loan. A higher credit score indicates better creditworthiness, which can lead to more favourable interest rates. Conversely, a lower credit score may result in higher interest rates or even difficulty in loan approval.

What is the minimum and maximum interest rate for a Bajaj Finance Personal Loan?

The interest rates range from 10% to 32% p.a., depending on factors such as your credit score, income, and employment type.

Are there any part-prepayment charges for Bajaj Finance Personal Loans?

Yes, part-prepayment charges of up to 4.72% (Inclusive of applicable taxes) are applicable, except for Flexi Term Loans or Hybrid Flexi Loans.

How can I calculate the interest payable for my Bajaj Finance Personal Loan?

Use the EMI calculator available on Bajaj Markets. Provide the loan amount, interest rate, and tenure to check the total interest payable on the loan.