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.
|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|
|Schedule of charges|
|Bounce charges||Rs.600 to Rs.1,200 for each bounce|
|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|
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:
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.
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:
|Age||23 years to 55 years|
|Employment Status||Salaried individual|
|Citizenship||Resident citizen of India|
|Minimum Net Salary||
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.)|
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.
|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|
A: Yes, Bajaj Finserv offers the online application option on their website through which you can easily apply for a 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.
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.
A: You can find the following details in your welcome kit:
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.
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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