Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Bajaj Finserv Personal Loan Interest Rates Reviews

    • Bajaj Finserv Personal Loan
      "Looking for a better service"
      0.5 4.0/5 "Great!"
      I felt Bajaj Finserv personal loan interest rate was very high, I had taken the amount of Rs.85,000 with the interest rate around 13% and with some processing fee. Still my loan is live, I could do part payment and preclosure option at any point of time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 27, 2017
    • Bajaj Finserv Personal Loan
      "Good can do better"
      0.5 4.0/5 "Great!"
      I have got a Bajaj Finserv personal loan experience. The rate of interest which was offered by Bajaj was 23% which is really high, when compared with others. I am happy about the loan amount. The customer service and the response was good with bajaj, but they need to reduce their interest rate in future.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2017
    • Bajaj Finserv Personal Loan
      "Services are good & high on charges"
      0.5 5.0/5 "Blown Away!"
      I am an existing customer of Bajaj Finserv and they have given me a personal loan. The customer services are good. They collected my papers on time and the process was also smooth. The interest rate and processing charges was high when compared with other banks.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Jun 24, 2017
    • Bajaj Finserv Personal Loan
      "Horrible Customer Service - Bajaj Finserv"
      0.5 0.5/5 "Unacceptable"
      I took a Personal loan June, 2015 whereas, I was promised that there will be no pre-closure charges post I pay my first EMI. After 2 years when I went to foreclose my loan they have put in a foreclosure charge and saying their policy has changed. Policy change cannot impact your earlier customers. You can apply it to your new customers. This is pure case of cheating wherein you sell something with all jazzy offers and then apply a charge to it. This is ridiculous. I have reached out to their team but of no use. I am lodging a complaint to the Consumer Forum.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bajaj Finserv Personal Loan
      "Proper Process"
      0.5 5.0/5 "Blown Away!"
      I availed the personal loan from Bajaj. The loan amount was 1.5 lakhs and the interest rate is very normal. I do not remember the rate but it is nominal. I directly approached them and they provided the loan. I just submitted the required documents in order to get the loan and Bajaj disbursed the loan without any hassles.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate should be flexible"
      0.5 5.0/5 "Blown Away!"
      I am an existing customer of Bajaj finserv, their interest rate is very high but I like their service is good. I am paying 20% of interest more than principal amount, I am fine with that, because all about the service. I have taken only the amount of Rs.35,000 for the tenure of 30 months.
      Was this review helpful? 0
      , nagpur
      Reviewed on Jun 22, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      The process with BAJAJ FINSERV personal loan was good. The executives came to my place at times to my office to collect the required documents to proceed with the personal loan. I am happy about the loan amount. The required loan amount was disbursed . Within 4 to 5 days they have disbursed my loan. The rate of interest is high, when compared with others. I am satisfied with Bajaj Finserv.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 21, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I got a personal loan for an amount of 50k from Bajaj Finserv personal loan. Their executives were really helpful in explaining about the product, in detail This loan was taken a year ago. I am very much happy with the loan amount, however I was in need of more loan amount, but on the other hand the bank was able to sanction only 50k. Coming to the rates even that is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 21, 2017
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finance offered the personal loan recently. Initially I approached SCB for the loan but when I found that there is a location constrain to get the loan, I switched over to Bajaj where I got the loan. The interest rate for the loan is 14.9%. Their customer service and responsiveness are excellent.
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      , navi mumbai
      Reviewed on Jun 21, 2017
    • Bajaj Finserv Personal Loan
      "Fast Process"
      0.5 4.0/5 "Great!"
      About 13 months ago, I had taken the personal loan from Bajaj Finserv. They provided good service and everything went good with them for the loan. In fact, they disbursed the loan in a week time. But the interest rate and other charges are very high with Bajaj. Once I missed one EMI for that they charged me a lot.
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      , karnal
      Reviewed on Jun 20, 2017
    • Bajaj Finserv Personal Loan
      "Charges has to be reduced"
      0.5 4.0/5 "Great!"
      Bajaj Finserv offered good interest rate on my personal loan . I have taken amount of Rs.9 lakhs with the interest rate of 12% for the tenure of five years. I have taken the amount of 8.80 lakhs, in that Bajaj have taken Rs.20,000 as processing fee including the insurance.
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      , hyderabad
      Reviewed on Jun 19, 2017
    • Bajaj Finserv Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      The Bajaj Finserv gave very bad experience in concern to my personal loan . They took around 1 week to disburse my personal loan. I would like to say the loan amount can be increased in future, because I am not happy about their loan amount. The rate of interest is high when compared with others.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Jun 15, 2017
    • Bajaj Finserv Personal Loan
      "Fast Service"
      0.5 4.5/5 "Excellent!"
      Bajaj finserv is very prompt for my personal loan. They had delivered very fast service. Their agents are very fast in all the formalities and they visited my place and helped me to get the address proof which I do not have. Since I am new to the place I do not know how to get the proof but Bajaj people helped me a lot and done with the process without any hassles.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • Bajaj Finserv Personal Loan
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bajaj Finserv and they have been excellent in the services and process. Without checking my papers they provided me a loan without any fuss. The interest rate and processing charges are also normal and most of all I am happy that they valued me as a customer and they provided the loan.
      Was this review helpful? 0
      , nasik
      Reviewed on Jun 14, 2017
    • Bajaj Finserv Personal Loan
      "Bajaj finserve"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserve is a big cheat. At the time of loan sanctioning the loan, they told me its a nil force closing charges as per 2015 agreement .Now at the time of closing they are charging 4.6 % as the fore-closing charges Tomorrow they might introduce another clause after disbursement. So please don't go to Bajaj personal loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 12, 2017
    • Bajaj Finserv Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      Once I applied for the personal loan with Bajaj Finserv. The loan amount was 4.5 lakhs. They were ready to provide the loan. They approved the loan as well but they did not disburse it. When I checked with them they said that because of the internal policy they could not process the loan. But bajaj is good for consumer loans.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2017
    • Bajaj Finserv Personal Loan
      "Process is smooth and high on ROI"
      0.5 4.0/5 "Great!"
      I had taken the personal loan from Bajaj Finserv and the process in getting the loan was quick. The documentation was easy and the disbursement happened on time as well. The interest rate and processing charges were high, but I am happy with the process as I can also close my loan at any time because there is a part payment feature availiable.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 10, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate and charges has to be reduced"
      0.5 2.0/5 "Expected more"
      Bajaj Finserv had charged me 18% of interest on the personal loan, it was a fixed rate for the tenure of three years. Interest rate was on the higher side when compared to other competitor. I had applied the loan of Rs.3 lakhs, Bajaj Finserve sanctioned it for Rs.1.3 lakh in that I received the amount it was around 1.14 lakh. They took lot of charges like processing fee and their customer service is not clear on their documentation process.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jun 08, 2017
    • Bajaj Finserv Personal Loan
      "Bajaj Finserv - NIL foreclosure charges offer is a fraud "
      0.5 0.5/5 "Unacceptable"
      I have taken a PL from Bajaj Finserv and while processing the loan every time is is communicated that Foreclosure charges are NIL. Loan team has communicated me while taking the loan that there will be foreclosure charges if my loan dispersed after May 2016, to avail the NIL foreclosure offer i have applied earlier and agree to take the dispersed amount before June 2016 and pay the interest for the difference. I have also conveyed to the loan manager that if there is any foreclosure charges then cancel my loan application and he assure me that there will not be any foreclosure charges because on the acceptance email, Nil foreclosure charges mentioned in Bold and it is an offer if it dispersed before June, 2016. I have also checked with customer care to confirm it and they also convey the same to me. While foreclose my loan, they provide a statement "BFL has implemented the foreclosure charges effective March 2016 for all its customers.", in every response you will see a new statement.
      Was this review helpful? 3
      , gurgaon
      Reviewed on Jun 08, 2017
    • Bajaj Finserv Personal Loan
      "Below average servcie"
      0.5 2.0/5 "Expected more"
      I had received a call from the sales team they explained to me about the product. I was initially promised the features of foreclosure and part payment options. However when I saw the welcome letter I was shocked to find that there was no such offer available like foreclosure and part payment they have to stick on to their promises. Even their rate of interest is very high and I would conclude saying that their service is below average service.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 07, 2017
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    Bajaj Finserv Personal Loan Interest Rates is Rated as "Great!" by 1448 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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
    Personal Loan Offers

    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.
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