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
      "High interest rate"
      0.5 3.0/5 "Satisfactory"
      Interest rate is very high for the personal loan with Bajaj Finserv. Also there is a lot of confusions with them, informations are differs from online to offline. There is no friendly envionment with Bajaj. I am quite diappointed because of their charges. They deducted 25000 for insurance which was not communicated to me in the beginning. So I am planning to transfer the loan to some other bank where I could get a better interest rate.
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      , bangalore
      Reviewed on May 27, 2017
    • Bajaj Finserv Personal Loan
      "Fastest service"
      0.5 5.0/5 "Blown Away!"
      I availed personal loan from Bajaj Finserv. I am going to make 7th EMI. Interest rate is around 17%. Always bajaj is the easiest one to approach for any kind of loan. The very moment I submitted the documents, they processed the loan in just 2 hours of time.
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      , chennai
      Reviewed on May 27, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Bajaj Finance executive have provided proper follow up regarding the loan process.The documentation and verification process was in a proper manner.I have taken the loan for my requirement ans it was fulfilled.I am happy with the overall service provided they have just taken 15 days of time to disburse my loan amount.
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      , bangalore
      Reviewed on May 26, 2017
    • Bajaj Finserv Personal Loan
      "Good in process"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv offered personal loan with the interest rate of 15%. The loan process went smooth with Bajaj. They contacted me every time and whenever required I contacted them for the clarification, they were very prompt in response. Within 15 days of time, the loan got disbursed. But interest rate is higher than other banks.
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      , hyderabad
      Reviewed on May 25, 2017
    • Bajaj Finserv Personal Loan
      "Good in interest rate"
      0.5 4.0/5 "Great!"
      When I found the interest rate is very high with ICICI bank, I approached Bajaj finserv for the personal loan where I got the interest rate of 14.25%. Processing fee also lesser than ICICI. Customer service is good and the process was smooth with Bajaj.
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      , kochi
      Reviewed on May 25, 2017
    • Bajaj Finserv Personal Loan
      "Customer comfort"
      0.5 4.0/5 "Great!"
      Bajaj finserv interest rate is high compared to other banks. But compared to micro finance Bajaj finserv interest rate is low. I had taken the amount of 77,000 but they credit only Rs.70,000 and they taken other charges of Rs.7000 from the loan disbursement.
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      , dindigul
      Reviewed on May 24, 2017
    • Bajaj Finserv Personal Loan
      "trapped in flexi loan"
      0.5 0.5/5 "Unacceptable"
      I was shell socked when I got a credit of 779165 Rs. in my account. While I was explained that I will get an online account and whenever needed I can transfer the money to my saving account and pay for what you use. But it happened before I was allotted that online flexi account. 52835 Rs as Processing fee and insurance was charged for all 8 lakh and deducted from the maximum possible amount sanctioned to me. I was told that this is better than credit card but credit card does not charges the applicable fee for maximum limit against allotted card. According to my understanding if I use anything I will be charged but all the sanctioned money was forced to me. I have not used any amount and I was charged 52835 Rs as insurance and processing fee. Now I want them to cancel my loan and this is not what I was offered.but I am not getting any reply from their customer care/grievance redress email or the people who called me many times to complete the process.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 22, 2017
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      BAJAJ FINSERV just took 3 days to disburse the personal loan., The executive came to my place and collected the documents, which is very easy and convenient. The rate of interest is very low when compared with others,. Overall I am happy with the loan amount also they have offered the best interest rate too.
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      , bangalore
      Reviewed on May 22, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      In the year of 2012, I got personal loan from Bajaj. Actually they already preapproved the loan and they approached me on the same. Even I availed the loan without raising any thing from my end. But the interest rate was quite high, which is 24%. Hence I have done foreclosure. The service was really good.
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      , hyderabad
      Reviewed on May 17, 2017
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I am having the personal loan with the Bajaj Finerv and the interest rate is around 14%. Loan amount got disbursed to my account within three to four days of time. Response is good one with them and the processing charges were around 10000 Rupees for 6 lakh Rupees as capital, which is really huge . I would like to suggest that they need to stick with their commitments like now they are showing the variation in prepayment charges.
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      , ahmedabad
      Reviewed on May 17, 2017
    • Bajaj Finserv Personal Loan
      "High Rate of Interest"
      0.5 2.0/5 "Expected more"
      Long time back I had taken preapproved loan from Bajaj Finserv which is personal loan. They collected required documents from me to process the loan. The loan amount is around three or four lakhs, but the interest rate is very high with them. Because of high interest rate, I had foreclosed the loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 17, 2017
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had taken a personal loan couple of years back with bajaj finserv. The services are very good. The response was quick. They collected my documents on time and the loan was processed on time too. The rate of interest was 25% which was bit high but they have come down now and the processing charged is 6k including insurance.
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      , mumbai
      Reviewed on May 16, 2017
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      Bajaj Finserv offered me a personal loan. They have easy options in payment and it is very easy to finance with Bajaj and interest rate was 19% the loan amount is 63000 thousand cutomer was really good, they have offered me bajaj card so that there is no need for me to submit all the documents expect for pan card.
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      , mumbai
      Reviewed on May 16, 2017
    • Bajaj Finserv Personal Loan
      "High on ROI & charges"
      0.5 3.5/5 "Pretty good"
      My personal is from Bajaj Finserv and the team is quick in the process and paper work. The customer services are good and they are responsive too. But the interest rate and processing charges are high. I would not wish to refer them because of the high rates.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 15, 2017
    • Bajaj Finserv Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      When I took personal loan with Bajaj Finserv at the time my loan interest rate was 15% but they are offering around 11% of interest on loan products. I appreciate the Bajaj Finserv loan process, they gave me part payment and zero foreclosure option. I took the loan of Rs.3 Lakhs and I have closed during the second year without any charges.
      Was this review helpful? 1
      , pune
      Reviewed on May 03, 2017
    • Bajaj Finserv Personal Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      BAJAJ FINSERV took around one week of time to disburse my personal loan. Because the day when I submitted my documents, within 3 days of time I got the loan credited to my account. I have just submitted the ID, address proof and salary slips and my photo copies . It was very smooth with the documentation process as well. I got personal loan based on my Bajaj card. The interest rate are high when compared with others.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 03, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv offered me a personal loan. They have easy options in payment and it is very easy to finance with Bajaj. But the rate of interest is too high for my personal loan than other financial institutions. Customer service is fine and approachable.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 03, 2017
    • Bajaj Finserv Personal Loan
      "Rate of interest & other charges can be decreased in future"
      0.5 3.0/5 "Satisfactory"
      Availed Personal loan from Bajaj finserve around 6 months ago. They had offered me a personal loan for an interest of 28 % . The rate of interest . fees and charges needs to be reduced. The customer support needs to improve a lot with bajaj finance. I pay the loan amount through the ECS option, which is very easy, they dont have foreclosure option through on line, they are asking me to visit there branch to close the loan, which needs to be changed.
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      , bangalore
      Reviewed on Apr 25, 2017
    • Bajaj Finserv Personal Loan
      "Quick in reponse"
      0.5 5.0/5 "Blown Away!"
      Approached Bajaj Finserv for my personal loan, I got a quick response, and there process is very fast. The rate of interest and the other charges very low with bajaj finserv. They just took around 3 days to disburse my loan, which is very helpful.
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      , coimbatore
      Reviewed on Apr 23, 2017
    • Bajaj Finserv Personal Loan
      "Fast Service"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv approached me for a personal loan. They quoted the interest rate of 16% but I had not accepted the interest rate, so they had reduced it as 12.5%. But the processing fee was 9000 along with the health insurance for 24000. Also they put some charges around 7000 for some policy. Other charges are very high so I did not take loan from Bajaj. But their way of approaching was very speed.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 21, 2017
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    Bajaj Finserv Personal Loan Interest Rates is Rated as "Great!" by 1419 Users

    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

    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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