Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Bajaj Finserv Personal Loan Interest Rates is Rated as "Great!" by 1617 Users

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    Bajaj Finserv Personal Loan Interest Rates

    Overview of Bajaj Finserv Personal Loan

    Bajaj Finserv is one of the largest financial institutions in the country that’s not a bank. They are heavily relied upon for finance of consumer durables in India. Bajaj Finserv also offers loans of all kinds, from personal to home, vehicle loans to business loans. Bajaj Finserv Personal Loan provides you with one of a kind features and benefits, like it’s quick and easy approval process. Bajaj Finserv Personal Loan will help you get rid of a financial crisis you're facing, meeting an urgent expense, paying for wedding costs or any other financial help you might need.

    Perfect Personal Loan Deals for you

    Bajaj Finserv Personal Loan Interest Rates

    Personal loan offered by Bajaj Finserv depends on normal factors that are followed by all financial institutions, such as customer’s credit history or CIBIL report, their monthly income and repayment capacity, etc. Bajaj Finserv personal loan interest rate for 2015 is 16%. They also charge fees for processing the application that stands at 2-3% of the loan amount, a secure fee charge for online applications only, EMI bounce charges of Rs. 1,000, and penal charges that stand at 2% per month. Bajaj Finserv doesn’t charge you any foreclosure penalties for foreclosure of the loan.

    Bajaj Finserv Personal Loan Interest Rates 2017

    Particulars Salaried
    Interest rate Starting from 11.99% p.a.
    Loan Amount Minimum: Rs.1 lakh
    Maximum: Rs.25 lakh
    Loan Tenure Minimum: 24 months
    Maximum: 60 months
    Lowest EMI Rs.2,224 p.m. (Calculated for the minimum loan amount for the longest tenure allowed at the lowest interest rate available).
    Processing Fee 2.25% to 3% of the loan amount.
    Age Minimum: 25 years
    Maximum: 53 years
    Prepayment Charges 2% + applicable taxes on amount paid
    *Part Prepayment allowed only after 1 EMI has been paid.
    Foreclosure Charges 4% + applicable taxes on principal amount outstanding.

    How to calculate the interest/ EMI on Bajaj Finserv Personal Loan?

    Today with everything being online, there are tools to help you with your financial transactions. The financial calculators help you calculate your EMIs, eligibility, simple and compound interest and more. Both Bajaj Finserv and BankBazaar will help you with EMI calculators they have on their websites, you can login to the website and enter the details of your loan, like amount, interest rate, tenure of the loan, processing fees if any, etc. The website will calculate the EMI and display a result that’s simple and easy to comprehend.

    As an example, Michael Das takes a personal loan for Rs. 1, 00, 000 from Bajaj Finserv, with an interest rate of 16.00%. The tenure of her/his loan is 5 years resulting in a monthly EMI of Rs.2,432. In the table below you can see the payments on a yearly basis which Michael pays back to Bajaj Finserv.

    Loan table:

    YearPrincipal paid (Rs)Interest paid (Rs)Balance amount (Rs)
    20155,6416,51894,359
    201615,16414,01779,195
    201717,77711,40561,418
    201820,8398,34340,579
    201924,4294,75316,150
    202016,1508730
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    Factors that affect your Bajaj Finserv Personal Loan Interest Rates

    • Monthly Income: Your regular monthly income will determine, the amount of loan and the interest rate that can be charged while you apply for a personal loan. If you earn a regular income that shows your repaying capacity, the interest rates will be applied as per your income.
    • Relationship with Bajaj Finserv: If you are a previous customer of Bajaj Finserv then they are aware of your loan history and your repaying capabilities and the rate of interest they can offer you will be judged as per this relationship. Consideration may be given to you as per their discretions, due to the past actions, your past loan repayments, and they may offer the people who are valued to them lower rates of interest.
    • Age: Owing to the way younger applicants live their lives and follow the lifestyles the way they do, banks generally charge a potential borrower a higher rate of interest.
    • Loan tenure: If a borrower decides to take a loan for a shorter duration, the rate of interest is generally higher in comparison to a loan taken for more number of years.

    How your CIBIL score can affect you Bajaj Finserv Personal Loan Interest Rates?

    One should never neglect their CIBIL score as it is very important. The CIBIL report always shows your repayment capabilities, credit score and credit history. Most financial institutions and banks like Bajaj Finserv can offer you a lower rate of interest if your score is high in comparison to other borrowers with a lower score. Scores of 750 and more are very good scores, and making regular payments in a timely manner and not defaulting on your payments could result in a very good score for you.

    Key things you should know about Bajaj Finserv Personal Loan Interest Rates

    • The personal loan interest rate offered by Bajaj Finserv is subject to the repo rate of the Reserve Bank of India, and may be reduced further in the months to come, but not immediately.
    • Bajaj Finserv doesn’t need you to provide them with any kind of security, guarantor, or collateral. If you are able to provide Bajaj Finserv with any kind of security, they will not change or reduce the rate of interest offered to you because of it.
    • Your CIBIL score and report can affect the rate of interest offered to you by Bajaj Finserv, it is possible for Bajaj Finserv to charge different rates to customers who have different CIBIL scores, even for the same amount and tenure.

    Bajaj Finserv Personal Loan Interest Rates Reviews

    • Bajaj Finserv Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Bajaj Finserv and the interest rate is around 10% as flat. I would like to say that the customer service is good one with them, also there are no issues on it. I am happy with the Bajaj Finserv.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Bajaj Finserv Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a good experience with BAJAJ for my personal loan service but the interest rate they offered me was high compare to others in the market the documents will be collected from my door step also the customer service of BAJAJ was very good and the payments where generally through online it was totally a good experience with BAJAJ for my personal loan service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 17, 2017
    • Bajaj Finserv Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Bajaj Finserv and the interest rate is around 18%. The loan amount got disbursed within one to two days of time, also am really happy with the Bajaj Finserv and its really a better one to go ahead with the financial products.
      Was this review helpful? 0
      , hubli
      Reviewed on Nov 16, 2017
    • Bajaj Finserv Personal Loan
      "Looking for better Service"
      0.5 2.0/5 "Expected more"
      I have taken personal loan from Bajaj Finserv, they offered me an EMI card, their executive have called me and offered loan based on profile. I got the loan amount of Rs.49,000 for the tenure of three years. But the interest rate which they offered me it was high. The service is not good, they never contacted me.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 16, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The service is average with BAJAJ FINSERV personal loan . They have a disbursed my loan amount within 4 to 5 days of time. The customer support is average with bajaj finserv. The rate of interest and the charges are very high with bajaj finserv personal loan .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 15, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have previously taken personal loan with Bajaj Finance, the loan amount was for Rs 20000 with no rate of interest as the loan amount is very less. The process was very smooth and easy, my loan amount was approved within one hour. I submitted my documents online. Customer service was good and they responded on time.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 15, 2017
    • Bajaj Finserv Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      Being an existing customer of Bajaj, they offered best interest rate on personal loan. They gave me flexible loan option with unlimited part payment and preclosure. I took the amount of Rs. 2.5 laks for the tenure of 36 months, I am very satisfied with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 14, 2017
    • Bajaj Finserv Personal Loan
      "Frauds"
      0.5 0.5/5 "Unacceptable"
      They gave fake commitments saying 0% pre-closure and part payment but just changed it before the first emi. Again they come back with topup offers stating that we are giving the same offer if u top up. Just dont take loans from Bajaj finserve.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 12, 2017
    • Bajaj Finserv Personal Loan
      "Charges should be waived off"
      0.5 3.0/5 "Satisfactory"
      Some agent called me behalf of Bajaj Finserv, they informed about the personal loan offers. Then I taken loan from them, they have charged me high and taken lot of hidden charges. I took the loan amount of Rs. 5 lakhs, but my amount credit card around Rs. 4.8 lakhs.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 11, 2017
    • Bajaj Finserv Personal Loan
      "Best service"
      0.5 4.0/5 "Great!"
      I had taken a personal loan with Bajaj finserv.The loam amount is 50,000.Rate of interest is 17% high as co pared to others.Net banking is convenient to use and options are easy to understand.They had deducted processing fees from my principal.
      Was this review helpful? 0
      , amalner
      Reviewed on Nov 11, 2017
    • Bajaj Finserv Personal Loan
      "Not a fair deal to avail flexi loans"
      0.5 2.0/5 "Expected more"
      While the loan processing and response of the customer services is good while availing the loan. But the response after the loan disbursement is worst. I have taken flexi loan and it was said only interest only charged and principle amount can be paid at your convenient. But it was shock to me EMI was charged to my account including Principle amount. Voice services to reach the customer center is worst and there is no option to speak to customer executive quickly. Also unable to transfer the loan amount my virtual amount. I tried multiple times as per guidelines shared by Bajaj Flexi team. Over all it was a worst experience for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I got a experience with the BAJAJ FINSERV personal loan around 3 years ago, The rate of interest was very high with BAJAJ FINSERV when compared with others. The customer support is average with BAJAJ FINSERV. We can't expect immediate response from BAJAJ finserv.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "Bad experience"
      0.5 1.0/5 "Really Bad"
      I have closed my personal loan with Bajaj by last month. It is a duration of 1 year. It was a worst experience on my personal loan. The rate of interest is very high, they charged 32%. The processing fee is very bad. Overall it was not satisfied.
      Was this review helpful? 0
      , nagercoil
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "They are the good and very efficient"
      0.5 4.5/5 "Excellent!"
      I was looking out for a lower interest rate , plus I was in need of a top up loan and this loan was actually needed for an emergency purpose. Bajaj agreed to provide the loan however the rate of interest rate, fees and insurance was very high . When it comes to bajaj finserve, it is a good company i would say they are using technology to the core when it comes to loan approval thereby the loan disbursement happened in a short period of time. Further they are very good at Cross selling the by -product they always retain the customers by providing exciting offers. Online it is very easy for one to get these kind of offers also via SMS too. Further more, we can call , verify and confirm the offer details with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I had applied for the personal loan from Bajaj Finserv, my loan application was approved and the requested amount was disbursed. The loan amount was for 5 lakhs with the rate of interest of 15% which is fine according to me. The customer service was good and door step service was provided for document collection. The process was very smooth and easy.
      Was this review helpful? 0
      , ambala
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with BAJAJ finance and this was taken 1 year back. The loan amount was 1.60 lakhs and the interest rate was 11.5% which was average in the market. The EMI period was 3 years. The loan process was easy and they have provided door step service for collecting documents. My overall experience was good here.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 08, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have got the personal loan service from Bajaj Finserv around a year ago. They took around 2days to disburse my loan amount, they have disbursed the loan amount without any kind of documentation. The customer support is very prompt with Bajaj fisnrev. The rate of interest and the charges are high with Bajaj finserv.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 08, 2017
    • Bajaj Finserv Personal Loan
      "High interest rate and short process"
      0.5 3.0/5 "Satisfactory"
      This was my second Personal Loan and found the experience with this Financial services to be opposite of my earlier loan. The process of application for the long was smooth, they required minimal documents. But I feel their Rate of Interest to be pretty high in regards to the market standards.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Nov 08, 2017
    • Bajaj Finserv Personal Loan
      "Approchable personal loan"
      0.5 4.0/5 "Great!"
      From BAJAJ FINSERV i have already purchased some consumer products and i have closed all those. Later i have taken a personal loan for 3 lakhs.But from there end i got a notification that 4.80 lakhs is approved as loan,but i have taken 3 lakhs. The rate of interest was 15.95% with a processing fee of 6000.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 08, 2017
    • Bajaj Finserv Personal Loan
      "Fast Loan approval"
      0.5 5.0/5 "Blown Away!"
      They took hardly 24 hours to disbursed the amount. Even my existing loan was running with Bajaj Finserv, based on that without any documents they done the loan process. I took the amount of Rs. 1 lakh for the tenure of two years. But they offered me 14% of interest, it would be if they reduce the interest.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 07, 2017
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