Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Bajaj Finserv Personal Loan Eligibility Calculator is Rated as "Great!" by 1670 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"
      0.5 5.0/5 "Blown Away!"
      Bajaj finserv has offered me a personal loan and they have disbursed the loan amount of Rs,2,15,000. This loan has the tenure of 5years. The rate of interest and the charges are high with the Bajaj finserv personal loan services, when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with Bajaj Finserv before 6 months. It was a good experience on the loan process. The rate of interest was high when compared to others but they provide a good option for foreclosing and repayment. The documentation process was very quick.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 11, 2018
    • Bajaj Finserv Personal Loan
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I have taken the personal loan with the Bajaj Finserv and their customer service is not really responsiveness at any medium. Rate of interest was around 17% for the personal loan with them. Everything is good one with the Bajaj Finserv.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 10, 2018
    • Bajaj Finserv Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have my personal loan with BAJAJ for about 3 years.The customer service and responses was up to the mark. The loan amount was 1.10 lakhs and the Interest rate was very high when comparing to other banks in the market.The tenure period was 3 years and I had a very smooth loan process here.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Jan 09, 2018
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My Personal loan experience with Bajaj was quite good, the loan amount was for Rs 2.37 lakhs with the high rate of interest when compared to other sources. When it comes to customer service, it was good, they responded on time and collected documents through door step. The tenure of the loan is 5 years and it was overall a good service from bajaj.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 09, 2018
    • Bajaj Finserv Personal Loan
      "Need to give proper status to the customers"
      0.5 1.0/5 "Really Bad"
      Initially the Bajaj finserv executives told that they can approve the personal loan application , but they have rejected my personal loan application saying that my pin code is falling on the negative area. The customer support need to give complete information about the product.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 08, 2018
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Bajaj Finserv and it was a very good loan experience. The loan amount was for Rs 90000 with the rate of interest which is high when compared to other sources. The process was very smooth and i received my loan amount within 3 days. Customer service was good and they collected documents on time. The tenure of the loan is 3 years and it was overall a good service from Bajaj.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 08, 2018
    • Bajaj Finserv Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with Bajaj Finserv was very good, they provided very good services when compared to all other sources. The loan amount was for Rs 1.3 lakhs with the rate of interest of 11.13% which is better rate. There was no processing fees charged and the response from the customer service was very good. The tenure of the loan is 3 years and it was overall a good service from Bajaj.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 05, 2018
    • Bajaj Finserv Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with Bajaj Finserv by last year. The services are very good. Earlier I had taken a personal loan and it was closed with them again I took a new loan. The rate of interest was little bit average. They offer a part payment option.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 03, 2018
    • Bajaj Finserv Personal Loan
      "Approchable bank"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from BAJAJ FINSERV. The approved loan amount is 47000. The monthly EMI comers around 2072 for 3 years. The rate of interest is minimal. The documents are minimal, i just gave my pan card, Adhara card and voter ID.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 02, 2018
    • Bajaj Finserv Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have got the personal loan with the bajaj fisnerv around 2years ago. They have disbursed the loan amount within 20days of time. The customer support is average with the bajaj finserv. The rate of interest and the charges are very high when compared with the banks.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Dec 28, 2017
    • Bajaj Finserv Personal Loan
      "Personal loan with Bajaj"
      0.5 5.0/5 "Blown Away!"
      From BAJAJ FINSERV i have taken a personal loan and the experience was good. the approved loan amount was 1 lakhs. the monthly EMI is 4350. the tenure which they have given me was for 2 years. The documentation was a normal one. the rate of interest was 9% and i got the approval within 2 days.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Dec 27, 2017
    • Bajaj Finserv Personal Loan
      "Better Service"
      0.5 5.0/5 "Blown Away!"
      The bajaj Finserv has approved my personal loan without any documents and I have submitted the documents through online. They have disbursed the loan amount within 48hours of time. The customer support and the response is good with the bajaj finserv.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Dec 26, 2017
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The service is very good with Bajaj Finserv. I got a personal loan with Bajaj before 9 months. The loan process was simple and very faster. The rate of interest was average and they charge minimal processing fee. The documents are collected by the executive. There was no delay and they disbursed my loan within 3 days.
      Was this review helpful? 4
      , mumbai
      Reviewed on Dec 26, 2017
    • Bajaj Finserv Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan with Bajaj Finance. They charging very high compared to the other banks. I am paying around 19.5% interest rate for the personal loan. I never get connected with the customer support always its not approachable. Now they developed and charging interest rate around 8.5%.
      Was this review helpful? 10
      , kolkata
      Reviewed on Dec 23, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The interest rate was very high with Bajaj personal loan service,documents process easy and very smooth they collected from my door step which was a smooth process also the loan divorcement was on time it was a good experience with Bajaj personal loan department.
      Was this review helpful? 7
      , chennai
      Reviewed on Dec 22, 2017
    • Bajaj Finserv Personal Loan
      "Worst very worst "
      0.5 0.5/5 "Unacceptable"
      Hi All, Please dont go to bajaj finserv for any loan purpose they will collect all documents and keep quit, there is no contact numbers too, if you call the sales person they will not pick the phone, so its toally waste, I should have received my disbursal 2 weeks back but still waiting !!!!!!
      Was this review helpful? 11
      , chennai
      Reviewed on Dec 21, 2017
    • Bajaj Finserv Personal Loan
      "Rate of Interest is High"
      0.5 3.0/5 "Satisfactory"
      I took this Loan some three years back and the experience with the loan has been pretty good. They gave me the Loan pretty easily and the overall process with them has been also nice. Their Rate of Interest is a little high comparing to other Banks.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 20, 2017
    • Bajaj Finserv Personal Loan
      "Decent Loan"
      0.5 3.0/5 "Satisfactory"
      I got a Personal Loan of Rs.45000 with this Financiers and they were pretty efficient while processing the Loan. I felt the rate of Interest given by them was quite high. I pre-closed the Loan, the process for that was done pretty smoothly too.
      Was this review helpful? 7
      , new delhi
      Reviewed on Dec 20, 2017
    • Bajaj Finserv Personal Loan
      "Attractive Offer in the Market"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv interest rate is low for the personal loan, they gave me 8.5% of lower interest based on the customer's profile. Because I am an existing of Bajaj Finserv, I already availed durable loan with them. Their customer service is also good they done fast disbursement.
      Was this review helpful? 4
      , chennai
      Reviewed on Dec 19, 2017
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