Multiple banks. Different interest rates. Call it a "conflict of interest".
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 1670 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 2018

    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 service"
      0.5 5.0/5 "Blown Away!"
      Bajaj finserv has offered me a personal loan and they have disbursed the loan amount of Rs,2,15,000. This loan has the tenure of 5years. The rate of interest and the charges are high with the Bajaj finserv personal loan services, when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with Bajaj Finserv before 6 months. It was a good experience on the loan process. The rate of interest was high when compared to others but they provide a good option for foreclosing and repayment. The documentation process was very quick.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
    • Bajaj Finserv Personal Loan
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I have taken the personal loan with the Bajaj Finserv and their customer service is not really responsiveness at any medium. Rate of interest was around 17% for the personal loan with them. Everything is good one with the Bajaj Finserv.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 10, 2018
    • Bajaj Finserv Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have my personal loan with BAJAJ for about 3 years.The customer service and responses was up to the mark. The loan amount was 1.10 lakhs and the Interest rate was very high when comparing to other banks in the market.The tenure period was 3 years and I had a very smooth loan process here.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Jan 09, 2018
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My Personal loan experience with Bajaj was quite good, the loan amount was for Rs 2.37 lakhs with the high rate of interest when compared to other sources. When it comes to customer service, it was good, they responded on time and collected documents through door step. The tenure of the loan is 5 years and it was overall a good service from bajaj.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 09, 2018
    • Bajaj Finserv Personal Loan
      "Need to give proper status to the customers"
      0.5 1.0/5 "Really Bad"
      Initially the Bajaj finserv executives told that they can approve the personal loan application , but they have rejected my personal loan application saying that my pin code is falling on the negative area. The customer support need to give complete information about the product.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 08, 2018
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Bajaj Finserv and it was a very good loan experience. The loan amount was for Rs 90000 with the rate of interest which is high when compared to other sources. The process was very smooth and i received my loan amount within 3 days. Customer service was good and they collected documents on time. The tenure of the loan is 3 years and it was overall a good service from Bajaj.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 08, 2018
    • Bajaj Finserv Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Bajaj Finserv was very good, they provided very good services when compared to all other sources. The loan amount was for Rs 1.3 lakhs with the rate of interest of 11.13% which is better rate. There was no processing fees charged and the response from the customer service was very good. The tenure of the loan is 3 years and it was overall a good service from Bajaj.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 05, 2018
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with Bajaj Finserv by last year. The services are very good. Earlier I had taken a personal loan and it was closed with them again I took a new loan. The rate of interest was little bit average. They offer a part payment option.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 03, 2018
    • Bajaj Finserv Personal Loan
      "Approchable bank"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from BAJAJ FINSERV. The approved loan amount is 47000. The monthly EMI comers around 2072 for 3 years. The rate of interest is minimal. The documents are minimal, i just gave my pan card, Adhara card and voter ID.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 02, 2018
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have got the personal loan with the bajaj fisnerv around 2years ago. They have disbursed the loan amount within 20days of time. The customer support is average with the bajaj finserv. The rate of interest and the charges are very high when compared with the banks.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Dec 28, 2017
    • Bajaj Finserv Personal Loan
      "Personal loan with Bajaj"
      0.5 5.0/5 "Blown Away!"
      From BAJAJ FINSERV i have taken a personal loan and the experience was good. the approved loan amount was 1 lakhs. the monthly EMI is 4350. the tenure which they have given me was for 2 years. The documentation was a normal one. the rate of interest was 9% and i got the approval within 2 days.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Dec 27, 2017
    • Bajaj Finserv Personal Loan
      "Better Service"
      0.5 5.0/5 "Blown Away!"
      The bajaj Finserv has approved my personal loan without any documents and I have submitted the documents through online. They have disbursed the loan amount within 48hours of time. The customer support and the response is good with the bajaj finserv.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Dec 26, 2017
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The service is very good with Bajaj Finserv. I got a personal loan with Bajaj before 9 months. The loan process was simple and very faster. The rate of interest was average and they charge minimal processing fee. The documents are collected by the executive. There was no delay and they disbursed my loan within 3 days.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 26, 2017
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan with Bajaj Finance. They charging very high compared to the other banks. I am paying around 19.5% interest rate for the personal loan. I never get connected with the customer support always its not approachable. Now they developed and charging interest rate around 8.5%.
      Was this review helpful? 10
      , kolkata
      Reviewed on Dec 23, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The interest rate was very high with Bajaj personal loan service,documents process easy and very smooth they collected from my door step which was a smooth process also the loan divorcement was on time it was a good experience with Bajaj personal loan department.
      Was this review helpful? 7
      , chennai
      Reviewed on Dec 22, 2017
    • Bajaj Finserv Personal Loan
      "Worst very worst "
      0.5 0.5/5 "Unacceptable"
      Hi All, Please dont go to bajaj finserv for any loan purpose they will collect all documents and keep quit, there is no contact numbers too, if you call the sales person they will not pick the phone, so its toally waste, I should have received my disbursal 2 weeks back but still waiting !!!!!!
      Was this review helpful? 11
      , chennai
      Reviewed on Dec 21, 2017
    • Bajaj Finserv Personal Loan
      "Rate of Interest is High"
      0.5 3.0/5 "Satisfactory"
      I took this Loan some three years back and the experience with the loan has been pretty good. They gave me the Loan pretty easily and the overall process with them has been also nice. Their Rate of Interest is a little high comparing to other Banks.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 20, 2017
    • Bajaj Finserv Personal Loan
      "Decent Loan"
      0.5 3.0/5 "Satisfactory"
      I got a Personal Loan of Rs.45000 with this Financiers and they were pretty efficient while processing the Loan. I felt the rate of Interest given by them was quite high. I pre-closed the Loan, the process for that was done pretty smoothly too.
      Was this review helpful? 7
      , new delhi
      Reviewed on Dec 20, 2017
    • Bajaj Finserv Personal Loan
      "Attractive Offer in the Market"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv interest rate is low for the personal loan, they gave me 8.5% of lower interest based on the customer's profile. Because I am an existing of Bajaj Finserv, I already availed durable loan with them. Their customer service is also good they done fast disbursement.
      Was this review helpful? 4
      , chennai
      Reviewed on Dec 19, 2017
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