Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Bajaj Finserv Personal Loan Interest Rates is Rated as "Great!" by 1908 Users

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    Bajaj Finserv Personal Loan Interest Rates

    Bajaj Finserv Personal Loan Interest Rates 2019
    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.
     

    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.

    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.

    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:

    Year Principal paid (Rs.) Interest paid (Rs.) Balance amount (Rs.)
    2015 5,641 6,518 94,359
    2016 15,164 14,017 79,195
    2017 17,777 11,405 61,418
    2018 20,839 8,343 40,579
    2019 24,429 4,753 16,150
    2020 16,150 873 0

    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
      "Need To Reduce Rate of Interest "
      0.5 3.5/5 "Pretty good"
      In Bajaj fin serve , I got my personal loan in 1 week of time after applying it . Customer executive guided me to submit the documents in on-line for the verification . I am not got the satisfied loan amount and Interest rate also very high comparing with other banks .
      Was this review helpful? 2
      , kolkata
      Reviewed on Mar 22, 2019
    • Bajaj Finserv Personal Loan
      "Himalayan interest rate ."
      0.5 1.0/5 "Really Bad"
      I don't know why , Bajaj fin serve service is only company rating very high interest to the customers of almost 20 % . I taken below 2 lakes of loan amount one year before during my emergency time . need more improvement for the customer request and suggestion .
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 21, 2019
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      The experience i had with this loan was pretty good where it was hassle free process in getting the loan. The loan amount has been sufficient and the interest rate and charges with them has been comparatively less. There was no additional charges which has been made by them as well.
      Was this review helpful? 1
      , new delhi
      Reviewed on Mar 21, 2019
    • Bajaj Finserv Personal Loan
      "Good in all"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv has done a good job for the personal loan. The customer support is good and they were quick in the response. The rate of interest and processing charges is nominal. I am okay with it as they have provided what is promised and it was a clear process.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 21, 2019
    • Bajaj Finserv Personal Loan
      "Not satisfied with the service"
      0.5 2.0/5 "Expected more"
      I had taken this loan a long time back and the experience has not been good. The loan amount which was disbursed was around 62,000 and the interest rate with them was 35% which was very high where i had repaid around 96,0000 with 24 EMI's. Overall it was not a good experience i had with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 20, 2019
    • Bajaj Finserv Personal Loan
      "Charges should be economical"
      0.5 3.0/5 "Satisfactory"
      My personal loan with Bajaj Finserv is good, but the interest and processing fee is too high. I availed the loan of Rs. 5 lakhs, for that the Bajaj Finserv taken around Rs.25,000 it should be reasonable. The process wise they are fast but charges should come down.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 20, 2019
    • Bajaj Finserv Personal Loan
      "Need improvement"
      0.5 1.5/5 "Bad"
      Bajaj Finserv is charging more interest rate and also the service is average. I have taken 1.30L and the loan period is 3 years. The interest rate was around 18% and the processing fee is near about 3400 rupees. The documentation process is easy and their executive came to my place.
      Was this review helpful? 2
      , pune
      Reviewed on Mar 19, 2019
    • Bajaj Finserv Personal Loan
      "AVERAGE"
      0.5 3.0/5 "Satisfactory"
      I have taken the personal loan with the BAJAJ FINSERV but i am not satisfied with the loan because they have offered with the higher rate of interest when compared to the others. They have provided with the good loan amount, the documentation process was easy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 18, 2019
    • Bajaj Finserv Personal Loan
      "Good service but Processing fees and ROI is moderately high"
      0.5 4.0/5 "Great!"
      BAJAJ fin serve offered me loan with the interest rate of around 15 % for 60 months EMI . I requested for negotiation of Interest but they asked me to wait for another 3 months . I am not able to take Top up loan in existing bank because of pre closure issue. Within 3 days of time , Loan has been sanctioned . It is fixed Interest .
      Was this review helpful? 3
      , hyderabad
      Reviewed on Mar 16, 2019
    • Bajaj Finserv Personal Loan
      "Rate of Interest should be reduced"
      0.5 3.0/5 "Satisfactory"
      Initially I took personal loan from Bajaj Finserv, at the time my loan interest was around 10.99%, but now they increased the interest. The loan process was good, on time amount was credited. They do have part payment and foreclosure option.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Mar 15, 2019
    • Bajaj Finserv Personal Loan
      "AVERAGE"
      0.5 1.0/5 "Really Bad"
      I have taken the personal loan with the BAJAJ FINSERV they have offered with the higher rate of interest which is not satisfactory added on that the loan amount is lower with this institute. I have been using from last 1.5 years with this institute. The duration is for 3 years.
      Was this review helpful? 3
      , pune
      Reviewed on Mar 15, 2019
    • Bajaj Finserv Personal Loan
      "quick service "
      0.5 5.0/5 "Blown Away!"
      i have taken loan amount of Rs. 170000 its going to complete .The rate of interest is okay its 18% no per-closure charges and part payment options.They provided door step service for the documentation collection.I received the loan amount with in 12 Hours of time.
      Was this review helpful? 1
      , kochi
      Reviewed on Mar 14, 2019
    • Bajaj Finserv Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan within the BAJAJ FINSERV they have given the loan with in 3 days also they have given the sufficient limit but the rate for interest is 22% which is higher with this loan. I am using from last 16 months and 20 months more to pay the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 13, 2019
    • Bajaj Finserv Personal Loan
      "Interest should be reduced"
      0.5 4.0/5 "Great!"
      I took personal loan from Bajaj Finserv, they charged 12.5% of interest is huge but they told around 13.5% then I negotiated and brought down to 12.5% for the tenure of two years. The customer care is not upto the mark they need lots of improvement.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 12, 2019
    • Bajaj Finserv Personal Loan
      "Convenient banking"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bajaj Finserv. The customer support and response is good and it is very convenient to get a loan. It is a quick process as I could do it online. I have also taken another loan called a Flexi loan. It is convenient and recommended.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Mar 07, 2019
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan almost three years back and the services which they had provided so far has been good. They where really good and it was all done online during that time which is really appreciable. They where best in terms of everything and the interest rate with them would have got improved now i suppose.
      Was this review helpful? 6
      , thane
      Reviewed on Mar 06, 2019
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 4.0/5 "Great!"
      I took my personal loan in Bajaj Finserv. The interest rate is bit higher compared to other banks. The customer service is good. The loan duration is 6months. I have taken 12K and it was a pre approved loan. The processing fee was 300 rupees. The document procedure was very lengthy.
      Was this review helpful? 1
      , new delhi
      Reviewed on Mar 05, 2019
    • Bajaj Finserv Personal Loan
      "Need transparency on the charges"
      0.5 1.0/5 "Really Bad"
      I took my personal loan from Bajaj Finserv. They have too much of hidden charges, the loan process was very easy but pre closure part is not happy because it has so much of terms and condition with lot of hidden charges. The loan was completed 2 years back. I took 7L and the tenure period is 5years and have done fore closure after 6 months.
      Was this review helpful? 2
      , bangalore
      Reviewed on Mar 04, 2019
    • Bajaj Finserv Personal Loan
      "Looking for less interest rate"
      0.5 4.0/5 "Great!"
      I took a personal loan from Bajaj finserv and my experience was good. Loan amount was sufficient and the rate of interest was high when compared to others. Customer service was good and they responded on time. Tenure period for this loan is for 3 years.
      Was this review helpful? 2
      , new delhi
      Reviewed on Mar 04, 2019
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I took my personal loan in Bajaj Finserv on 2018. They have informed me interest rate as 13% but during the disbursement they have changed to 22.7%. I am not satisfied with the service and looking for balance transfer. The loan duration is 36 months. The processing fee and insurance around 6.5K.
      Was this review helpful? 1
      , bangalore
      Reviewed on Mar 02, 2019
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