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  • Bajaj Finserv Personal Loan

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  • Bajaj Finserv offers hassle-free and quick personal loans at very reasonable interest rates. Avail personal loans from Bajaj Finserv to meet your unexpected personal expenses.

    • Loan amount of up to Rs.25 lakh 
    • Quick approval and disbursal of loan
    • Repayment tenure of up to 60 months
    • Minimal documentation process
    More
    Interest Rate Loan Amount Processing Fee
    Starts at 12.99% p.a.  Up to Rs.25 lakh  Up to 3.99% of the loan amount 

    Fees and Charges applicable

    Schedule of charges
    Bounce charges  Rs.600 to Rs.1,200 for each bounce 
    Secure fee  Rs.4,499 
    Penal interest  2% of the monthly EMI plus applicable taxes 
    Outstation collection charges  Rs.65 plus applicable taxes 
    Foreclosure charges  4% of the outstanding principal plus applicable taxes 
    Part prepayment charges  2% of the part-paid amount plus applicable taxes 

    Documents Required

    As mentioned earlier, the documentation process for Bajaj Finserv Personal Loan is minimal. The documents that are required to apply for a Bajaj Finserv personal loan are listed below: 

    • Documents for Know Your Customer or KYC. 
    • Salary slips of the applicant for the last 2 months. 
    • Employee identity card of the applicant which is issued by the employer. 
    • Bank statements of the salary account of the applicant for the last 3 months. 

    Note: These are the basic documents required for applying. However, some other documents might be required for the processing of the loan. These documents have to be produced as per the requirement of Bajaj Finserv. 

    Why should I choose Bajaj Finserv Personal Loan? 

    There are a number of benefits which can be enjoyed by an applicant if he or she chooses a Bajaj Finserv Personal Loan. These advantages can be summed up as follows: 

    • Minimal documentation process 
    • Quick approval of the loan 
    • Fastest disbursal of loan in India (within 24 hours of approval of loan application) 
    • Flexible loan repayment tenure of up to 12 months to 60 months 
    • No hidden charges 
    • Manage everything online through an online loan account 
    • Easy pre-approved offers on loan for all existing customers 

    What are the eligibility criteria?

    Age  23 years to 55 years 
    Employment Status  Salaried individual 
    Citizenship  Resident citizen of India 
    Minimum Net Salary 
    • Bengaluru, Mumbai, Pune, Delhi, Chennai, Noida, Thane, etc. - Rs.35,000 p.m. 
    • Ahmedabad and Kolkata – Rs.30,000 p.m. 
    • Chandigarh, Cochin, Jaipur, Nagpur, and Surat – Rs.28,000 p.m. 
    • Aurangabad, Baroda, Bhubaneshwar, Calicut, Goa, Indore, Kolhapur, Raipur, Trivandrum, and so on – Rs.25,000 p.m. 

    How the EMI calculation on Bajaj Finserv Personal Loan work? 

    The best way to understand the working of a Bajaj Finserv Personal Loan can be explained through this example. Let us assume that an individual, say Mr. Tribbiani, residing in Bengaluru has a monthly net salary of Rs.40,000. He takes a personal loan of Rs.1 lakh from Bajaj Finserv where the interest charged is 14% p.a. and the processing fee charged on the loan amount is 2%. Let us assume that Mr. Tribbiani has opted for a loan repayment period of 12 months. On the basis of these factors, his loan repayment schedule will look like this: 

    Month  Principal Paid (A)  (in Rs.)  Interest Paid (B)  (in Rs.)  Total Amount Paid (A+B)  (in Rs.)  Outstanding Loan Amount  (in Rs.) 
    7,812  1,167  8,979  92,188 
    7,903  1,076  8,979  84,285 
    7,995  983  8,978  76,289 
    8,089  890  8,979  68,201 
    8,183  796  8,979  60,018 
    8,279  700  8,979  51,739 
    8,375  604  8,979  43,364 
    8,473  506  8,979  34,891 
    8,572  407  8,979  26,320 
    10  8,672  307  8,979  17,648 
    11  8,773  206  8,979  8,875 
    12  8,875  104  8,979 

    As per the details mentioned above, Mr. Tribbiani will be paying a total of Rs.1,09,745* wherein the total interest amount is Rs.7,745 and the processing fee for the loan is Rs.2,000. His monthly EMI amount for the loan will be Rs.8,979 for 12 months. 

    *The figures quoted here are for the purpose of understanding only. The applicable taxes (if any) have not been taken into consideration. 

    Compare Bajaj Finserv personal loan with loans from other lenders

    Particulars  Bajaj Finserv Personal Loan  HSBC Bank Personal Loan  Citibank Personal Loan  SBI Personal Loan 
    Interest rate  12.99% p.a. onwards  10.99% p.a. to 17.84% p.a.  10.99% p.a. to 18.00% p.a.  12.00% p.a. onwards 
    Processing fee  Up to 3.99% of the loan amount  Up to 1% of the loan amount  2.00% to 3.00% of the loan amount  1% of the loan amount + applicable GST 
    Foreclosure charges  4% + applicable taxes on the outstanding principal amount  Up to 3.75% of the outstanding principal amount  As per the terms and conditions of the bank  3% of the outstanding loan amount 

    FAQs on Bajaj Finserv Personal Loan 

    Can I apply for a Bajaj Finserv Personal Loan online? 

    A: Yes, Bajaj Finserv offers the online application option on their website through which you can easily apply for a personal loan. 

    How do I check the status of my Bajaj Finserv Personal Loan? 

    A: You can check the status of your Bajaj Finserv Personal Loan by calling the customer care call centre at 1800 103 3535. You will be required to provide a few details such as the unique reference number, name, and date of birth. Once the details are verified, you will get the information pertaining to the status of your loan. 

    How do I get complete loan details of my Bajaj Finserv Personal Loan? 

    A: You can get to know the complete details of your Bajaj Finserv Personal Loan through the welcome kit that will be sent to your email ID which is registered at the time of making the loan application. 

    What all details can I find in my Bajaj Finserv Personal Loan welcome kit? 

    A: You can find the following details in your welcome kit: 

    • A reference service guide which will help you use the self-service tool and have a better understanding of the product. 
    • Your user ID and password for Experia 
    • A unique virtual account number 
    • The account details of the registered bank account which will be used for drawdown transactions 
    • The registered mobile phone number 
    What is a secure fee?

    A: If you are applying for a personal loan online, you will be required to pay a charge which is known as secure fee. This fee is charged for the submission and processing of the online loan application form. 

    How can I make a part-prepayment of my Bajaj Finserv Personal Loan? 

    A: A unique account number will be generated and provided to you by Bajaj Finserv when your personal loan is approved. You will be required to make all payments and part-payments for your loan to this unique account through internet banking. The payments you make to this account will be credited towards your loan account as per the stipulated time period according to the banking guidelines. 

        

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    Bajaj Finserv Personal Loan Reviews

    • Bajaj Finserv Personal Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      For my marriage purpose, I took Rs. 1 lakh personal loan from the Bajaj Finserv for the loan period around three years. The documentation process was very easy for getting this loan but the rate of interest was around 18% its huge per annum hence its difficult to repay. I suggest them to reduce the rate of interest.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2019
    • Bajaj Finserv
      Bajaj Finserv Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I have foreclosed the personal loan with Bajaj Finserv by doing a balance transfer from HDFC BANK. I am not happy with the customer service because initially they told me zero foreclosure but now they have charged it. I tried reaching the executive to whom I have discussed and he is not available.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 06, 2019
    • Bajaj Finserv Personal Loan
      "Need improvement on the mobile app"
      0.5 4.0/5 "Great!"
      Bajaj Finserv did the personal loan process very quickly, I availed Rs. 10 lakhs of loan for the duration of five years.I felt rate of interest is huge compared to other bank I got it for 16% but its a reducing one. Their mobile app is average to check the loan history , they need to improve on it.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Sep 06, 2019
    • Bajaj Finserv Personal Loan
      "Interest rate should be variable according to EMI"
      0.5 5.0/5 "Blown Away!"
      My personal loan is ongoing with Bajaj Finserv, I have paid 14months of EMI and yet to pay another 10months. The customer service is superb. They are charging Rs.500 for cheque bounce. They have quoted me fixed rate of interest and loan was credited in one day.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 03, 2019
    • Bajaj Finserv Personal Loan
      "Not recommended at ALL"
      0.5 1.0/5 "Really Bad"
      Never ever use the services of Bajaj Finserv, they themselves could not explain about the charges, when I went to the office and they failed to do it. I would suggest them to maintain transparency. I have foreclosed the personal loan before 4 years back. The rate of interest is not reasonable and I will be never happy with any bank charges because myself as a UI and I know how it works. The processing fee and fore closure penalty is included.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 01, 2019
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am very satisfied with Bajaj Finserv and am oldest customer. I took the personal loan in 2018 and it will be getting over by 2021. I can do partial payment and foreclosure without any charges which is the best part of Bajaj. The interest rate is 12 to 13% and no processing fee for me.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 31, 2019
    • Bajaj Finserv Personal Loan
      "Quick Loan but interest rate are high"
      0.5 3.0/5 "Satisfactory"
      Because of the Quick loan process, i have chosen the personal loan from Bajaj Finsev. They have offered me a loan amount of Rs. 1.5 lakhs. They took 1 week to sanctioned the loan. But the interest rates are high. I am paying the EMI amount of Rs. 5223 for the tenure period for 3 years.
      Was this review helpful? 5
      , coimbatore
      Reviewed on Aug 27, 2019
    • Bajaj Finserv Personal Loan
      "Processing charges should be avoided"
      0.5 4.0/5 "Great!"
      I availed personal loan in Bajaj Finserv, the rate of interest was reasonable around 13% for the loan amount of Rs. 1 lakh, they took some time to complete the documentation work. Even they charged 2% of processing fee from the disbursement. I suggest them to avoid the processing fee or else it would minor one.
      Was this review helpful? 7
      , bangalore
      Reviewed on Aug 27, 2019
    • Bajaj Finserv Personal Loan
      "Good Loan service"
      0.5 3.0/5 "Satisfactory"
      Took my personal loan from Bajaj Finserv 1.5 years ago. They have provided me a offer for personal loan hence i have chosen them. I am paying the EMI amount of Rs. 3395. I got the loan amount of Rs. 75000 for the tenure period of 3 years. They have sanctioned the loan in 7 working days.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Aug 26, 2019
    • Bajaj Finserv Personal Loan
      "Process charges should be avoided"
      0.5 4.5/5 "Excellent!"
      I have one personal loan with Bajaj Finserv, they offered the interest around 13%its nominal for the loan amount of Rs.2.75 lakhs for the duration of four years. They taken some processing fee around Rs.7000 from the total amount. They should avoid such fee for the loan process.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Aug 26, 2019
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have a personal loan with Bajaj Finserv which is ongoing. The loan process was very smooth and got the loan amount on the specified time. Their customer service is good. The rate of interest was okay also they have charged me a processing fee.
      Was this review helpful? 1
      , kolkata
      Reviewed on Aug 20, 2019
    • Bajaj Finserv Personal Loan
      "Not recommendable loan"
      0.5 4.0/5 "Great!"
      It was a flexible loan hence i have chosen from Bajaj Finserv after that i found that the charges are very high hence i have fore-close the loan. They have provided me a interest rate of 14% and for me, there was no for-closure charges for me. When i got the offer executive said, there is no charges but in the documents, they have mentioned that there is a 4% charge. I contact the concern person to sent an email regarding this. When i approached them for fore closure, they asked me to 4% then my mail was helped for me.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 20, 2019
    • Bajaj Finserv Personal Loan
      "Not Satisfactory"
      0.5 1.0/5 "Really Bad"
      I have applied for Bajaj Finserv Personal Loan directly ,I have got the loan amount on time as well .The rate of interest and the processing fee was very high .I have applied for 1.6 lakhs for the tenure of 48months .There was a deduction of Rs. 9000 .I am not satisfied with the service .
      Was this review helpful? 1
      , mumbai
      Reviewed on Aug 17, 2019
    • Bajaj Finserv Personal Loan
      "Research about the loan before taking. "
      0.5 2.0/5 "Expected more"
      The bajaj Finance personal loan is not fine for me because their interest rate is very high and they have a policy of taking a LIC life insurance policy with them and the amount is not refundable. Taking a personal loan from Bajaj Finance is not a good idea and they won't transfer the amount to beneficiary account. They transfer the amount of deducting some amount because the processing fee 4% from the total amount. Before purchasing the loan, the interest rate is different because they promised to provide the rate of interest is 12% and after i received it was 19% hence i have closed the loan in 7 months. They took the pre-closure charges also.
      Was this review helpful? 2
      , kolkata
      Reviewed on Aug 16, 2019
    • Bajaj Finserv Personal Loan
      "Good Loan"
      0.5 5.0/5 "Blown Away!"
      Taken my personal loan from Bajaj Finserv because my friend have recommended to me. Its overall smooth process and they have sanctioned the loan in 1 week. The executive came to my place to collect the documents. EMI is getting deduction through auto debit.
      Was this review helpful? 1
      , wardha
      Reviewed on Aug 13, 2019
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had a loan with Bajaj Finserv and its a best one. I have not faced any issues and even the rate of interest was good. There was a processing fee which is minimal. The loan tenure is 5 years. I have foreclosed by balance transfer. There were charges but it was not done as per my request.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 11, 2019
    • Bajaj Finserv Personal Loan
      "It could be better"
      0.5 3.0/5 "Satisfactory"
      Bajaj Finserv were selling additional life insurance policy with my personal loan which am not satisfied because I hold several policy. They told me its a mandatory orelse I can pay it while processing the loan then it will be refunded but it was not happened and the number was not provided to contact the person. Still am running a personal loan with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 09, 2019
    • Bajaj Finserv Personal Loan
      "Need to decrease charges"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with BAJAJ FINSERV on 1 year before which applied directly to them. The loan amount was sufficient for the tenure period of 3 years. The process was good but to sanctioned it a bit late. For this loan the interest rate and processing fee are slightly high.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Aug 07, 2019
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have selected bajaj finserv personal loan amount 3.51 lakhs no need insurance they waiver off , one time processing fee is applicable . Rate interested 10.25 percentage , perclouser charger is 4 percentage applicable part payment is 2 percentage is applicable .while documents submitted through on line there is no delay disbursal loan amount.Customer service is good and responsive .
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 06, 2019
    • Bajaj Finserv Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have selected bajaji finserve loan amount 1 lakhs , Tenure 3 rs ,EMI Rs 3200 and Rate of interested less , one time processing fee is applicable.while document submitted executive through on line there is no delay disbursal loan. Customer service is good and responsive.He given clear information about loan process.
      Was this review helpful? 0
      , kochi
      Reviewed on Aug 04, 2019
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