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  • Bajaj Finserv Personal Loan Eligibility Calculator is Rated as "Great!" by 1627 Users

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    Bajaj Finserv Personal Loan Eligibility Calculator

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    About Bajaj Finserv Personal Loan

    Bajaj Finserv offers personal loan to finance a wedding, a vacation and for medical emergencies. It provides personal loan up to Rs.25 lakhs depending on the eligibility, income and repayment capacity. The applicant can apply for the Personal Loan online and expect a quick approval and enjoy low rate of interest. The borrower is given the option of part prepayment facility and no foreclosure charges will be charged. The borrower does not have to provide any collateral for the personal loan as it is an unsecured loan.

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    Bajaj Finserv Personal Loan Eligibility

    The basic eligibility for a salaried individual to avail a Bajaj Finserv personal loan are as follows:

    • Profile: Applicant must be a resident and a salaried individual.
    • Age:Applicant must be at least 25 years old but not more than 58 years of age.
    • Income: The minimum monthly net salary requirement for the various cities are as follows:
    Rs.40,000 or more Delhi, Mumbai, Hyderabad, Bangalore, Chennai and Thane.
    Rs.35,000 or more Ahmedabad, Pune, Kolkata, Aurangabad, Baroda, Chandigarh, Cochin, Coimbatore, Gandhinagar, Ludhiana, Madurai, Mandi Gobindgarh, Indore, Jaipur, Jalandhar, Mysore, Nagpur, Nasik, Panchkula, Panipat, Patna, Rajkot, Ranchi, Trichi, Trivandrum, Vijayawada, Yamunanagar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Khanna, Kolhapur, Kota, Madurai, Mangalore and Mohali.

    Factors affecting Bajaj Finserv Personal Loan Eligibility

    There are many factors that affect the applicant's’ eligibility. Banks give loans to those who are capable of repaying it and who do not default on making the payments. Some factors that affect an applicant’s eligibility are:

    • Residence:Individuals living in metro cities are given personal loans easily. Bajaj Finserv gives preference to those who have their own home. That is because those who have their own home will not have an additional financial burden of paying the rent and will have a higher disposable income.
    • Income:The level of income indicates how much EMI you can afford to pay. This affects the total loan amount that will be sanctioned to you. If your income is higher, the higher are your chances of getting a bigger loan amount sanctioned to you.
    • Age:If you are too young, the chances of you shifting jobs are higher and the banks do not prefer to offer younger salaried individuals loans. The banks prefer those who have stability in their work life.
    • Employment status:An applicant who has stayed in a company for a longer period will get higher preference. It shows stability in his income and the bank can be assured that the applicant has constant cash flow to pay the EMIs.
    • Other loans taken:If the applicant already has other EMIs to pay, then the chances of him getting a personal loan from Bajaj Finserv is lower unless he has a higher range of income. The bank will not provide another loan as the applicant will be burdened with having to pay multiple EMIs.

    How CIBIL score affects your Bajaj Finserv Personal Loan Eligibility?

    When an applicant applies for a loan with Bajaj Finserv, the bank immediately runs a credit check. If the applicants CIBIL Score is above the ideal range, the bank will further consider your application and go through your credit report.

    The banks take into consideration the loans that you have taken previously and closed. It will check the credit payment history to check how efficiently you have repaid the loan and if you have defaulted in making payments. It also considers the types of loans (secured and unsecured loans) you have taken.

    The credit report records the loan settlement information (if you have settled any loan) in the report, the bank considers it as a negative remark and may not provide you a loan.

    How to increase Bajaj Finserv Personal Loan Eligibility?

    You can do the following to increase Bajaj Finserv personal loan eligibility:

    • Maintain a good credit history: Pay all your EMIs on time. Find ways to increase your CIBIL score and never agree for a settlement, find other ways to pay back the loan or refinance it for a longer tenure.
    • Get lower EMIs on existing loans: If you are able to, refinance your existing loan for a lower interest rate or extend the tenure of the existing loan. This reduces the EMIs and ensures that you meet all the payments.
    • Prepayment: If you have lesser EMIs left on any loan, then prepay them and close the loan. You will then have a higher disposable income. You will also stand a chance of getting a higher amount loan.
    • Have both secured and unsecured loans: Have a mix of both the secured and unsecured loans. Build equal credit and asset. Secured loans are looked at favourably and it increases your eligibility.
    • Don’t apply for too many loans at a time: If you are in need of a loan, then don’t apply at all the banks at one time. All the banks will run a credit check together and it gets recorded in your credit report. This will also look bad on your report and also affects your credit score.
    • Don’t have too many credit cards: Having too many credit cards is also unfavourable. Though you may not have used up all the credit on the cards, it will however considerably lower your overall credit limit.

    FAQs on Bajaj Finserv Personal Loan Eligibility

    Q. What are the age limits required for a salaried individual to take a Bajaj Finserv personal loan?

    A.Applicant must be at least 25 years old but not more than 58 years of age.

    Q. What is the minimum income requirement for a salaried applicant?

    A.The minimum monthly net salary requirement for the various cities are as follows:

    • Rs.40,000 or more for salaried individuals of Delhi, Mumbai, Hyderabad, Bangalore, Chennai and Thane.
    • Rs.35,000 or more for salaried individuals of Ahmedabad, Pune, Kolkata, Aurangabad, Baroda, Chandigarh, Cochin, Coimbatore, Gandhinagar, Ludhiana, Madurai, Mandi Gobindgarh, Indore, Jaipur, Jalandhar, Mysore, Nagpur, Nasik, Panchkula, Panipat, Patna, Rajkot, Ranchi, Trichi, Trivandrum, Vijayawada, Yamunanagar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Khanna, Kolhapur, Kota, Madurai, Mangalore and Mohali.

    Q. What is the maximum amount sanctioned towards personal loan by Bajaj Finserv?

    A. The maximum amount sanctioned towards personal loan is Rs.25 lakhs.

    Q. What is the tenure for personal loan offered by Bajaj Finserv?

    A.Bajaj Finserv offers personal loan for a tenure ranging from 12 months to 60 months.

    Personal Loan Reviews

    • 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? 0
      , 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
    • Bajaj Finserv Personal Loan
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      I have Bajaj EMI card based on that, they have provided personal loan. My principal amount was Rs. 1 lakh for the tenure of three years, interest rate was quite okay. I am fine with the service they helped to get the disbursement amount within five working days.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 22, 2017
    • Bajaj Finserv Personal Loan
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv is very good when it comes to customer services. They were very quick in contacting me and check about my requirement. The response was overall good. I have taken a personal loan and the rate of interest was of 13% and the processing charges were also very much normal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 21, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I previously applied for the personal loan from Bajaj Finserv, it was a good loan experience overall. The loan amount was for Rs 25000 with the rate of interest of 13% which is high when compared to other sources. Customer service was good, they provided door step service to collect the documents. The process was very smooth and easy, my loan was approved within 2-3 days.
      Was this review helpful? 0
      , ranchi
      Reviewed on Nov 21, 2017
    • Bajaj Finserv Personal Loan
      "Recommedable"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan from BAJAJ FINSERV and the disbursed loan amount was 7000. The rate of interest was 14%. The monthly EMI comes around 3000 for 3 years. The processing fee was 2% of the principal amount. Documentation process done well and i can recommend this service to others.
      Was this review helpful? 0
      , anuppur
      Reviewed on Nov 20, 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 is around 10% as flat. I would like to say that the customer service is good one with them, also there are no issues on it. I am happy with the Bajaj Finserv.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Bajaj Finserv Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a good experience with BAJAJ for my personal loan service but the interest rate they offered me was high compare to others in the market the documents will be collected from my door step also the customer service of BAJAJ was very good and the payments where generally through online it was totally a good experience with BAJAJ for my personal loan service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 17, 2017
    • Bajaj Finserv Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Bajaj Finserv and the interest rate is around 18%. The loan amount got disbursed within one to two days of time, also am really happy with the Bajaj Finserv and its really a better one to go ahead with the financial products.
      Was this review helpful? 0
      , hubli
      Reviewed on Nov 16, 2017
    • Bajaj Finserv Personal Loan
      "Looking for better Service"
      0.5 2.0/5 "Expected more"
      I have taken personal loan from Bajaj Finserv, they offered me an EMI card, their executive have called me and offered loan based on profile. I got the loan amount of Rs.49,000 for the tenure of three years. But the interest rate which they offered me it was high. The service is not good, they never contacted me.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 16, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The service is average with BAJAJ FINSERV personal loan . They have a disbursed my loan amount within 4 to 5 days of time. The customer support is average with bajaj finserv. The rate of interest and the charges are very high with bajaj finserv personal loan .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 15, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have previously taken personal loan with Bajaj Finance, the loan amount was for Rs 20000 with no rate of interest as the loan amount is very less. The process was very smooth and easy, my loan amount was approved within one hour. I submitted my documents online. Customer service was good and they responded on time.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 15, 2017
    • Bajaj Finserv Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      Being an existing customer of Bajaj, they offered best interest rate on personal loan. They gave me flexible loan option with unlimited part payment and preclosure. I took the amount of Rs. 2.5 laks for the tenure of 36 months, I am very satisfied with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 14, 2017
    • Bajaj Finserv Personal Loan
      "Frauds"
      0.5 0.5/5 "Unacceptable"
      They gave fake commitments saying 0% pre-closure and part payment but just changed it before the first emi. Again they come back with topup offers stating that we are giving the same offer if u top up. Just dont take loans from Bajaj finserve.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 12, 2017
    • Bajaj Finserv Personal Loan
      "Charges should be waived off"
      0.5 3.0/5 "Satisfactory"
      Some agent called me behalf of Bajaj Finserv, they informed about the personal loan offers. Then I taken loan from them, they have charged me high and taken lot of hidden charges. I took the loan amount of Rs. 5 lakhs, but my amount credit card around Rs. 4.8 lakhs.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 11, 2017
    • Bajaj Finserv Personal Loan
      "Best service"
      0.5 4.0/5 "Great!"
      I had taken a personal loan with Bajaj finserv.The loam amount is 50,000.Rate of interest is 17% high as co pared to others.Net banking is convenient to use and options are easy to understand.They had deducted processing fees from my principal.
      Was this review helpful? 0
      , amalner
      Reviewed on Nov 11, 2017
    • Bajaj Finserv Personal Loan
      "Not a fair deal to avail flexi loans"
      0.5 2.0/5 "Expected more"
      While the loan processing and response of the customer services is good while availing the loan. But the response after the loan disbursement is worst. I have taken flexi loan and it was said only interest only charged and principle amount can be paid at your convenient. But it was shock to me EMI was charged to my account including Principle amount. Voice services to reach the customer center is worst and there is no option to speak to customer executive quickly. Also unable to transfer the loan amount my virtual amount. I tried multiple times as per guidelines shared by Bajaj Flexi team. Over all it was a worst experience for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I got a experience with the BAJAJ FINSERV personal loan around 3 years ago, The rate of interest was very high with BAJAJ FINSERV when compared with others. The customer support is average with BAJAJ FINSERV. We can't expect immediate response from BAJAJ finserv.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "Bad experience"
      0.5 1.0/5 "Really Bad"
      I have closed my personal loan with Bajaj by last month. It is a duration of 1 year. It was a worst experience on my personal loan. The rate of interest is very high, they charged 32%. The processing fee is very bad. Overall it was not satisfied.
      Was this review helpful? 0
      , nagercoil
      Reviewed on Nov 10, 2017
    • Bajaj Finserv Personal Loan
      "They are the good and very efficient"
      0.5 4.5/5 "Excellent!"
      I was looking out for a lower interest rate , plus I was in need of a top up loan and this loan was actually needed for an emergency purpose. Bajaj agreed to provide the loan however the rate of interest rate, fees and insurance was very high . When it comes to bajaj finserve, it is a good company i would say they are using technology to the core when it comes to loan approval thereby the loan disbursement happened in a short period of time. Further they are very good at Cross selling the by -product they always retain the customers by providing exciting offers. Online it is very easy for one to get these kind of offers also via SMS too. Further more, we can call , verify and confirm the offer details with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 10, 2017
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