Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Personal Loan Reviews

    • Bajaj Finserv Personal Loan
      "Services are good & high on charges"
      0.5 5.0/5 "Blown Away!"
      I am an existing customer of Bajaj Finserv and they have given me a personal loan. The customer services are good. They collected my papers on time and the process was also smooth. The interest rate and processing charges was high when compared with other banks.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Jun 24, 2017
    • Bajaj Finserv Personal Loan
      "Horrible Customer Service - Bajaj Finserv"
      0.5 0.5/5 "Unacceptable"
      I took a Personal loan June, 2015 whereas, I was promised that there will be no pre-closure charges post I pay my first EMI. After 2 years when I went to foreclose my loan they have put in a foreclosure charge and saying their policy has changed. Policy change cannot impact your earlier customers. You can apply it to your new customers. This is pure case of cheating wherein you sell something with all jazzy offers and then apply a charge to it. This is ridiculous. I have reached out to their team but of no use. I am lodging a complaint to the Consumer Forum.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • Bajaj Finserv Personal Loan
      "Proper Process"
      0.5 5.0/5 "Blown Away!"
      I availed the personal loan from Bajaj. The loan amount was 1.5 lakhs and the interest rate is very normal. I do not remember the rate but it is nominal. I directly approached them and they provided the loan. I just submitted the required documents in order to get the loan and Bajaj disbursed the loan without any hassles.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate should be flexible"
      0.5 5.0/5 "Blown Away!"
      I am an existing customer of Bajaj finserv, their interest rate is very high but I like their service is good. I am paying 20% of interest more than principal amount, I am fine with that, because all about the service. I have taken only the amount of Rs.35,000 for the tenure of 30 months.
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      , nagpur
      Reviewed on Jun 22, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      The process with BAJAJ FINSERV personal loan was good. The executives came to my place at times to my office to collect the required documents to proceed with the personal loan. I am happy about the loan amount. The required loan amount was disbursed . Within 4 to 5 days they have disbursed my loan. The rate of interest is high, when compared with others. I am satisfied with Bajaj Finserv.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 21, 2017
    • Bajaj Finserv Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I got a personal loan for an amount of 50k from Bajaj Finserv personal loan. Their executives were really helpful in explaining about the product, in detail This loan was taken a year ago. I am very much happy with the loan amount, however I was in need of more loan amount, but on the other hand the bank was able to sanction only 50k. Coming to the rates even that is high when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 21, 2017
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finance offered the personal loan recently. Initially I approached SCB for the loan but when I found that there is a location constrain to get the loan, I switched over to Bajaj where I got the loan. The interest rate for the loan is 14.9%. Their customer service and responsiveness are excellent.
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      , navi mumbai
      Reviewed on Jun 21, 2017
    • Bajaj Finserv Personal Loan
      "Fast Process"
      0.5 4.0/5 "Great!"
      About 13 months ago, I had taken the personal loan from Bajaj Finserv. They provided good service and everything went good with them for the loan. In fact, they disbursed the loan in a week time. But the interest rate and other charges are very high with Bajaj. Once I missed one EMI for that they charged me a lot.
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      , karnal
      Reviewed on Jun 20, 2017
    • Bajaj Finserv Personal Loan
      "Charges has to be reduced"
      0.5 4.0/5 "Great!"
      Bajaj Finserv offered good interest rate on my personal loan . I have taken amount of Rs.9 lakhs with the interest rate of 12% for the tenure of five years. I have taken the amount of 8.80 lakhs, in that Bajaj have taken Rs.20,000 as processing fee including the insurance.
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      , hyderabad
      Reviewed on Jun 19, 2017
    • Bajaj Finserv Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      The Bajaj Finserv gave very bad experience in concern to my personal loan . They took around 1 week to disburse my personal loan. I would like to say the loan amount can be increased in future, because I am not happy about their loan amount. The rate of interest is high when compared with others.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Jun 15, 2017
    • Bajaj Finserv Personal Loan
      "Fast Service"
      0.5 4.5/5 "Excellent!"
      Bajaj finserv is very prompt for my personal loan. They had delivered very fast service. Their agents are very fast in all the formalities and they visited my place and helped me to get the address proof which I do not have. Since I am new to the place I do not know how to get the proof but Bajaj people helped me a lot and done with the process without any hassles.
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      , visakhapatnam
      Reviewed on Jun 15, 2017
    • Bajaj Finserv Personal Loan
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Bajaj Finserv and they have been excellent in the services and process. Without checking my papers they provided me a loan without any fuss. The interest rate and processing charges are also normal and most of all I am happy that they valued me as a customer and they provided the loan.
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      , nasik
      Reviewed on Jun 14, 2017
    • Bajaj Finserv Personal Loan
      "Bajaj finserve"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserve is a big cheat. At the time of loan sanctioning the loan, they told me its a nil force closing charges as per 2015 agreement .Now at the time of closing they are charging 4.6 % as the fore-closing charges Tomorrow they might introduce another clause after disbursement. So please don't go to Bajaj personal loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 12, 2017
    • Bajaj Finserv Personal Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      Once I applied for the personal loan with Bajaj Finserv. The loan amount was 4.5 lakhs. They were ready to provide the loan. They approved the loan as well but they did not disburse it. When I checked with them they said that because of the internal policy they could not process the loan. But bajaj is good for consumer loans.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 12, 2017
    • Bajaj Finserv Personal Loan
      "Process is smooth and high on ROI"
      0.5 4.0/5 "Great!"
      I had taken the personal loan from Bajaj Finserv and the process in getting the loan was quick. The documentation was easy and the disbursement happened on time as well. The interest rate and processing charges were high, but I am happy with the process as I can also close my loan at any time because there is a part payment feature availiable.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 10, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate and charges has to be reduced"
      0.5 2.0/5 "Expected more"
      Bajaj Finserv had charged me 18% of interest on the personal loan, it was a fixed rate for the tenure of three years. Interest rate was on the higher side when compared to other competitor. I had applied the loan of Rs.3 lakhs, Bajaj Finserve sanctioned it for Rs.1.3 lakh in that I received the amount it was around 1.14 lakh. They took lot of charges like processing fee and their customer service is not clear on their documentation process.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jun 08, 2017
    • Bajaj Finserv Personal Loan
      "Bajaj Finserv - NIL foreclosure charges offer is a fraud "
      0.5 0.5/5 "Unacceptable"
      I have taken a PL from Bajaj Finserv and while processing the loan every time is is communicated that Foreclosure charges are NIL. Loan team has communicated me while taking the loan that there will be foreclosure charges if my loan dispersed after May 2016, to avail the NIL foreclosure offer i have applied earlier and agree to take the dispersed amount before June 2016 and pay the interest for the difference. I have also conveyed to the loan manager that if there is any foreclosure charges then cancel my loan application and he assure me that there will not be any foreclosure charges because on the acceptance email, Nil foreclosure charges mentioned in Bold and it is an offer if it dispersed before June, 2016. I have also checked with customer care to confirm it and they also convey the same to me. While foreclose my loan, they provide a statement "BFL has implemented the foreclosure charges effective March 2016 for all its customers.", in every response you will see a new statement.
      Was this review helpful? 3
      , gurgaon
      Reviewed on Jun 08, 2017
    • Bajaj Finserv Personal Loan
      "Below average servcie"
      0.5 2.0/5 "Expected more"
      I had received a call from the sales team they explained to me about the product. I was initially promised the features of foreclosure and part payment options. However when I saw the welcome letter I was shocked to find that there was no such offer available like foreclosure and part payment they have to stick on to their promises. Even their rate of interest is very high and I would conclude saying that their service is below average service.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 07, 2017
    • Bajaj Finserv Personal Loan
      "Not Recommendable"
      0.5 3.0/5 "Satisfactory"
      I had taken personal loan from Bajaj finserv during the year of 2014. The loan process went smooth with them without any hassles. But interest rate is little higher with them but due to emergencies I had to get the loan from Bajaj. I would not recommend Bajaj for the personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2017
    • Bajaj Finserv Personal Loan
      "Easy to approach"
      0.5 4.0/5 "Great!"
      I took personal loan from Bajaj Finserv, for an interest rate of 14.5% it is normal and it is as per the market rate. They had taken only five days to process my loan. My loan amount was Rs. 6 lakhs for the tenure of five years and its floating rate it would be reversible too.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 03, 2017
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    Bajaj Finserv Personal Loan Eligibility Calculator is Rated as "Great!" by 1446 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    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.

    Perfect Personal Loan Deals for you

    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.

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