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 1643 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
      "Dissatisfactory"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserv sanctioned Rs.1.80 lakh, in that 15,000 got deducted for processing fee and insurance. Bajaj Finserv charged me 29.54% of interest for the tenure of 36 months. It was very high compared to other bank hence I am going to do balance transfer.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 09, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The response was not up to the mark with the bajaj finserv , I have applied a personal loan with the Bajaj ,but there was no follow up even though I have submitted the required documents to the bajaj finserv. The response part need to be improved with the Bajaj finserv
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 08, 2017
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Bajaj Finserv and the interest rate was around 19%. Customer service is okay one with them. They have given the loan amount within a week of time and everything is good one for me with the Bajaj Finserv.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a Bajaj personal loan for a period of 36 months.The loan amount is 65,000.Net banking is user friendly and easy to navigate.I make loan payments through ECS.The rate of interest is high as compared others.I completed 7 months of EMI.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 06, 2017
    • Bajaj Finserv Personal Loan
      "Looking for better interest rate"
      0.5 4.0/5 "Great!"
      I took personal loan from Bajaj Finserv, their service is not good. They don't have proper customer care at all. I took the loan amount of Rs. 50,000 for the tenure of three years, they gave me high interest rate, compared to other competitor.
      Was this review helpful? 4
      , bangalore
      Reviewed on Dec 02, 2017
    • Bajaj Finserv Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Bajaj Finserv was good, the loan amount was for Rs 1 lakh with the best interest rate in the market. The loan period was 3 years and my loan amount was transfered directly to the account after 24 hours, The process was very smooth and easy. Documents were collected on time and the customer service was good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 02, 2017
    • Bajaj Finserv Personal Loan
      "Good plan"
      0.5 5.0/5 "Blown Away!"
      Recently I took Bajaj personal loan, they gave me flexi pay option. When ever I make any principal amount automatically, the interest gets reduced based on tenure period. I am an existing customer of the Bajaj, hence they gave me flexi pay. Interest is good and they negotiated from 17 to 12% of interest.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 02, 2017
    • Bajaj Finserv Personal Loan
      "Decent Personal Loan"
      0.5 3.0/5 "Satisfactory"
      I took a Personal Loan with Bajaj of Rs.4.23 lakhs and felt the overall experience with it to be good. Their Rate of Interest 16% is a little higher compared to other Banks. Process of getting the Loan was short and didn't require much documentation.
      Was this review helpful? 7
      , bangalore
      Reviewed on Dec 01, 2017
    • Bajaj Finserv Personal Loan
      "OK OK EXPERIENCE"
      0.5 1.5/5 "Bad"
      I am not happy with the experience i had with BAJAJ FINSERV . the money got disbursed in 4 working days and i got a Full approval on the amount i asked for . What they communicated on call and on paper it was different . i took for 10 Lakh . They told there are no for closure charges they told me and after i got the amount there was charges they told . the customer service was good . Roi was 14% they charged on the amount . I was not happy with the for closure charges .
      Was this review helpful? 5
      , hyderabad
      Reviewed on Dec 01, 2017
    • Bajaj Finserv Personal Loan
      "Needs to improve on Customer Service"
      0.5 2.0/5 "Expected more"
      I have applied for the personal loan from Bajaj Finserv, my loan application was approved and the requested amount was disbursed. The loan amount was for Rs 6.5 lakhs with the rate of interest of 17.00% which is very high when compared to other sources. Initially they quoted the rate of interest for 12% and later they changed to 17%. Customer service was not up to the mark, they misguided and their response was not on time. The processing fees is also very high.
      Was this review helpful? 4
      , vadodara
      Reviewed on Nov 30, 2017
    • Bajaj Finserv Personal Loan
      "Easy Loan option"
      0.5 4.0/5 "Great!"
      I felt Bajaj Finserv rate of interest was huge, they offered 13.65% for the loan amount of Rs. 1.37 lakh it has the tenure of four years. Their approached me very good, initially the have called and approved the loan without any hassle, I am fine with their service.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 28, 2017
    • Bajaj Finserv Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Rate of interest offered from bajaj for my personal loan service was good compare to others in the market they provide me with 13.65 interest rate they documents have been collected from my door step it was been four months I closed the loan service it was a good experience with bajaj personal loan service.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 28, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Had the personal loan with Bajaj finserv around 2 years ago. The customer support is good with Bajaj finserv, within the promised time I have got the loan amount. The rate of interest and the charges are average with bajaj finserv. I am satisfied with the loan amount.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 28, 2017
    • Bajaj Finserv Personal Loan
      "Interest is high"
      0.5 5.0/5 "Blown Away!"
      Owing to my continuous relationship with the Bank for over Ten years, they gave me this pre-approved Personal Loan. They were ready to give me how much ever I want. I decided to take RS.70000 loan from them. But I felt the Interest Rate offered by them is pretty high, I ended up paying Rs.25000.
      Was this review helpful? 1
      , pune
      Reviewed on Nov 28, 2017
    • Bajaj Finserv Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      My personal loan was taken with Bajaj by this year. I am paying 1700 rupees per month through ECS. The rate of interest and charges are average. Whenever I call the customer care they don't respond properly. They blocked my card for no reason. The documentation process is simple and provided a doorstep service.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 28, 2017
    • Bajaj Finserv Personal Loan
      "Wonderful Service of bajaj Finserv, Very quick and best"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from bajaj finserv and the service I got was very quick and I got good rate of interest. They promised me for amazon vouchers worth rupees 4k, but due to some issues they could not provide me vouchers, so they transferred the amount to my account as work around. I recommend this bank to all ppl.
      Was this review helpful? 5
      , pune
      Reviewed on Nov 27, 2017
    • Bajaj Finserv Personal Loan
      "Trapped in flexi loan"
      0.5 0.5/5 "Unacceptable"
      I got message from bajaj, that 579862 Rs loan amount was section and after 2 days 546137 Rs is disbursal in my saving account, when i ask them why this amount is deducted, then they replied me its insurance amount. but before taking loan no one told about that deduction. Now day without any used of money 33725 Rs as processing fee and insurance was charged for all loan amount and deducted from the maximum possible amount sanctioned to me. Even i don't want this money, i only take this bkz they said if you are not used this all money then nothing charge to you, that's why i take this.... now i feel its by biggest mistake to take this flexi loan
      Was this review helpful? 2
      , vapi
      Reviewed on Nov 25, 2017
    • Bajaj Finserv Personal Loan
      "Quick and easy process"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Bajaj Finserv and the experience with them during that time has been good. They provide very good services and also have a quick completion of the process. The interest rate for my personal loan is around 11.5% and i find it to be nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 25, 2017
    • Bajaj Finserv Personal Loan
      "Good service but high rate of interest"
      0.5 4.0/5 "Great!"
      I had taken a personal loan from Bajaj Finserv. I appreciate the quick response and process of the loan from them as it was a critical situation and i had an urgent requirement for the amount. They were fast with their approval however the rate of interest was 14% which was a little too high for me.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 24, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Bajaj Finserv was quite good, the loan amount was for 1.24 lakhs with the rate of interest of 21% which is way high when compared to others in the market. The process was very smooth and the loan was approved very quickly. Customer service was good, they offered me a loan for Rs 2.48 lakhs but it was not required as of now. It was a very good response from them.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 23, 2017
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