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 1562 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
      "Charges should be reduced"
      0.5 4.0/5 "Great!"
      Bajaj Finserv service is good, but rate of interest was higher side and they have mandatory insurance , they are focusing the customer to take insurance. I paid the premium of Rs.25,000 for 5 years of insurance for the personal loan. I took the amount 12 lakhs,even interest rate was good but concern about the charges.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 21, 2017
    • Bajaj Finserv Personal Loan
      "Best customer service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from Bajaj Finserv, i was happy that my loan amount was approved and the required amount was disbursed. I have taken loan for 1.25 lakhs with rate of interest of 18.00% per annum. The customer service was excellent, they provided a door step service for the collection of documents and my loan amount was approved within 48 hours.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 21, 2017
    • Bajaj Finserv Personal Loan
      "Services are good. But high charges"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bajaj Finserv and the customer services are excellent. They collected my documents on time and also processed the details. But they have exorbitant interest rates and charges. Else they are flexible and supportive.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 20, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      It was a good service from BAJAJ for my personal loan service but the rate of interest rate they offered was little high but the staffs of BAJAJ is very responsible they collected all my documents at my door step so it was very much helpful during the documentation process ,the service of BAJAJ is average.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 20, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate and charges should be reduced"
      0.5 4.0/5 "Great!"
      Bajaj finserv offered me higher interest rate around 14 to 15% it is huge compared to other competitor for the personal loan. I took the loan amount 1 lakh, they processing me very fast. But it would be better if they reduce the interest and charges.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 19, 2017
    • Bajaj Finserv Personal Loan
      "Quick and Fast Service"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with Bajaj Finance as a complimentary they offered me health insurance. ROI was little high when i apply for it since am not aware unable to compare with other bank and get the loan. The duration period is 3 years and I have completed almost 1 year. I pay EMI of Rs.2500 through ECS. They offered me a EMI card which is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 17, 2017
    • Bajaj Finserv Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      The bajaj loan was good in regards to my personal loan application. I got the personal loan with bajaj around a year ago. They have disbursed my loan amount within 3 to 4 working days. The rate of interest is high with BAJAJ when compared with others banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2017
    • Bajaj Finserv Personal Loan
      "Its an alternative option"
      0.5 3.0/5 "Satisfactory"
      Bajaj Finserv interest part is very high for the personal loan which it compared with other financial institute, it is the main reason to close the loan through foreclsoure. But they are charging addition fee around 7% on the principal amount.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 17, 2017
    • Bajaj Finserv Personal Loan
      "average service"
      0.5 3.5/5 "Pretty good"
      I had a personal loan with BAJAJ the service was decent their communication was good in a decent manner but their customer service is not much I expected from BAJAJ but the rate of interest is better but they asked for lot of documents still the service of BAJAJ is average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Bajaj Finserv Personal Loan
      "Dissatisfied Service"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserv approved the loan amount of Rs. 6lakhs, but I need the loan of Rs. 2 lakhs but they told me it was flexi loan. But they charged me 1.5% of processing fee for whole Rs.6 lakhs including insurance fee. Without my confirmation they charged all the amount. It was really bad and I couldn't reach their customer service for any queries.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 14, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate and charges should be reduced"
      0.5 1.0/5 "Really Bad"
      I am not satisfied with Bajaj Finserv personal loan interest, they offered me 15% for the amount 1.25 lakh and also they taken huge processing fee. Finally Rs.1.08 lakh only credited in my account. Initially they gave basic information about the personal loan but they not disclosed about the rates and charges it should be transparent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2017
    • Bajaj Finserv Personal Loan
      "execellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with BAJAJ finance month back .The loan amount was 20,000 and the rate of interest was 8-9% which was satisfactory.The EMI period was 15 months. They have provided door step service for the documentation collection and they have sanctioned the loan with in 3 days so I would like to recommend and rate 5 out of 5 overall.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2017
    • Bajaj Finserv Personal Loan
      "Helpful"
      0.5 5.0/5 "Blown Away!"
      I applied for a Personal loan with Bajaj Finserv in a time when I need it the most. And I got the loan instantly the procedure were simple and were not time consuming.I applied for a Rs.40000 loan which i got instantly. Thank you so much Bajaj Finserv.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2017
    • Bajaj Finserv Personal Loan
      "Friendly"
      0.5 5.0/5 "Blown Away!"
      They let me know were my credit score was lagging. The person who got the loan put his neck out for me. Interest rate is little high though. I really like the friendliness of this bank, and has a very high recommendations for them. They really did impress me.
      Was this review helpful? 0
      , ponda
      Reviewed on Oct 10, 2017
    • Bajaj Finserv Personal Loan
      "Pre-approved personal loan"
      0.5 5.0/5 "Blown Away!"
      I got a pre approved personal loan from BAJAJ FINSERV.So there wasn't any documentation needed.The disbursed loan amount was 1 lakh 19 thousand.The rate of interest was 16.5% with monthly EMI 5200 for 28 months. I can suggest BAJAJ FINSERV for personal loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 09, 2017
    • Bajaj Finserv Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv is very good and they providing a good customer service. Executive is very kind and clarified all my doubts. I make my payment through ECS. They asked me to keep the documents ready, executive will come and collect it. Rate of interest is better with Bajaj Finserve.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 09, 2017
    • Bajaj Finserv Personal Loan
      "Rate of Interest is very high"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserve promised me they would disburse the personal loan amount within one day but it took almost a week. They are not responding me properly. The rate of interest in Bajaj Finserve is 13% which I felt is lot more that what others offer.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 09, 2017
    • Bajaj Finserv Personal Loan
      "Approachable bank"
      0.5 4.0/5 "Great!"
      BAJAJ FINSERV approved my personal loan.And it took 10 working days for the approval. The disbursed loan amount was 580000 with a rate of interest of 14 %. The monthly EMI is 20000 with 36 of tenure.The most disappointing thing about the BAJAJ FINSERV was there is no proper customer service.For the status of my application i used to sent mail and after 48 hours the reverted me with the status.And the processing fees came around 30000 which is still i am confused with.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 08, 2017
    • Bajaj Finserv Personal Loan
      "average service"
      0.5 3.5/5 "Pretty good"
      Service is good from BAJAJ as I got my personal loan from BAJAJ ,documentation part was fine and easy and customer service and other representatives are very helpful ,I can say the overall service is average from BAJAJ . No issue till now from BAJAJ.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Personal Loan
      "Dissatisfied service"
      0.5 2.0/5 "Expected more"
      I had applied for a personal loan with Bajaj fin serv. customer service is not satisfactory they promised to give 13% initially ,it was processed they gave it for 26% is really high however, am panning to close the Emi,foreclosure is 4%.Totally not convinced with the service.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 07, 2017
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