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    Bajaj Finserv Personal Loan is Rated as "Great!" by 1343 Users

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    Bajaj Finance Limited is a leading Non-Banking Financial Company in India, offering Personal Loans up to Rs. 25 lakhs for salaried individuals and is one of the largest consumer durables financiers in India. A Loan from the company provides a host of unique features and benefits such as speedy approval and minimal documentation. Details regarding the documentation and the eligibility requirements are provided below.

    Documentation Required while Applying Bajaj Finserv Pearsonal Loan:

    Generally, the following supporting paperwork will be required to process your loan:

    • Signed application with photograph
    • Proof of identity, employment and income
    • Cheque for processing fee

    Bajaj Finserv Personal Loan Eligibility

    You’re probably eligible for this bajaj finserv personal loan if you’re a major who is able to adequately service loan payments. This goes to your creditworthiness which is a direct reflection of your stability, scalability and nature of employment and income which correlates to your age. The higher you rate on these criteria the better your chances for approval.

    Why choose Bajaj Finance Personal Loan?

    Attractive Rate of Interest:

    Starts from as low as 16% interest rate for salaried individuals.

    Special Offers for Existing Customers:

    It provides special pre-approved offers for their existing customers as per their financial history.

    Active Customer Support:

    The Company offers a 24/7 customer support helpline including toll free number, emails and SMS allowing users to get in touch with the company to resolve their grievances at the earliest.

    Features of the Loan

    Quick Loan Approval:

    The Company is known for their quick loan as well as disbursal mechanism ensuring that all loan applications are approved quickly.

    Online Loan Applications:

    Loan applicants do not need to visit the Company local office in person in order to apply for a loan. The online application facility is helpful for people to apply at their own convenience.

    Part Prepayment facility:

    Borrowers are allowed to prepay their loans at no extra cost. They have the option to prepay their loan up to 6 times in one financial year. The prepayment facility is available after clearance of the first loan EMI.

    Zero Foreclosure Charges:

    Borrowers are also allowed to close their loan at any time with zero foreclosure charges.

    Complete Online Account Access:

    The Company offers complete online account access to users with their loan details, repayment history, interest certificates, payment schedules etc. Users can also access their loan account from any location at any point of time.

    Bajaj Finserv Personal Loan FAQs

    • Am I eligible for this loan?

      The Company offers these loans only for salaried individuals earning at least Rs. 35,000 per month.

    • How do I repay the loan?

      The loan can be repaid using the ECS facility or through post-dated cheques.

    • What is the tenure for the loan?

      Loans can have a tenure varying from 12 to 60 months.

    • What is the maximum loan amount that can be taken from Bajaj Finserv personal loan?

      The maximum amount that can be borrowed for a personal loan from this NBFC is Rs. 25,00,00/-. For salaried individuals, else it is Rs. 18,00,000/-.

    • What is the minimum loan amount that can be borrowed through Bajaj Finserv personal finance?

      The minimum loan amount for a personal loan from this lender should be an at least Rs. 1 lakh.

    • When can I expect the funds from the personal loan once it has been approved?

      This NBFC ensures that the funds are made available to you within 72 hours, equivalent to three days after the loan has been approved. This is said to be one of the quickest turnaround time by any NBFc in the country.

    • Why type of personal loan from Bajaj Finserv will allow me to enjoy prepayment advantages for personal loan?

      The Flexi-loans from Bajaj Finserv gives the liberty and advantage of the prepayment option.

    • Can I make any withdrawals from any pre-payments that I make in the personal loan payments?

      In the case of Flexi loans from Bajaj Finserv, you can withdraw as much and as many times as you wish from the prepayment amount. This is also available to the borrower with no extra documentation to be submitted for withdrawal.

    • What is the advantage of making pre-payments, in terms of the interest rates?

      Interest rates are applicable on the utilized amount of loan only meaning that no interest is levied on the prepaid amount.

    • During the course of loan tenure, if I wish to foreclose the loan, will I have to pay any extra charges?

      Bajaj Finserv does not require their customers to pay any sort of foreclosure charges or fees if it is done during the loan tenure.

    • Are there any pre-approved offers on personal loans for existing customers of this financial institution?

      Yes, if you are already a customer of Bajaj Finserv, you are eligible for pre-approved offers on personal loans.

    • Why am I being asked to pay a secure fee for my personal loan application online?

      This fee is taken from you for the purpose of submission of your online application form. The bank is said to charge this amount to its online applicants.

    • What if I have paid the secure fee already for the online application however am having second thoughts about availing the loan? Will I be refunded the secure fee amount?

      If you have not availed the funds from your approved personal loan within 30 days you will be refunded the secure fee. Likewise, if your loan has been rejected, you will also get back the secure fee.

    • What is the loan tenure for a personal finance option from Bajaj Finserv?

      You can take between 12 to 60 months to pay back your loan amount. However, this depends also on the banks policies and their approval for the loan. But regardless, it will be within the bracket mentioned earlier.

    • What are the benefits that I can get when availing the prepayment option for Bajaj Finserv Flexi personal loans?

      There are four basic advantages of availing the prepayment option for Bajaj Finserv Flexi personal loans:

      1. You can make prepayments for up to 6 times in a calendar year.
      2. No maximum limits or charges levied on prepayments.
      3. No interest calculated on the prepaid amount.
      4. You can withdraw the amount whenever you wish.
    • As a salaried person taking a personal loan, will I need a guarantor, security or collateral?

      No, Bajaj Finserv does not require any of the above to sanction your personal loan but is the approval is based, generally on your financial history.

    *This article is provided only for consumer information on an as is where is basis and BankBazaar does not claim or represent to be connected with Bajaj Finance Limited.

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