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  • Bajaj Finserv Personal Loan Eligibility Calculator is Rated as "Great!" by 1559 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
      "Quick and Fast Service"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with Bajaj Finance as a complimentary they offered me health insurance. ROI was little high when i apply for it since am not aware unable to compare with other bank and get the loan. The duration period is 3 years and I have completed almost 1 year. I pay EMI of Rs.2500 through ECS. They offered me a EMI card which is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 17, 2017
    • Bajaj Finserv Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      The bajaj loan was good in regards to my personal loan application. I got the personal loan with bajaj around a year ago. They have disbursed my loan amount within 3 to 4 working days. The rate of interest is high with BAJAJ when compared with others banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2017
    • Bajaj Finserv Personal Loan
      "Its an alternative option"
      0.5 3.0/5 "Satisfactory"
      Bajaj Finserv interest part is very high for the personal loan which it compared with other financial institute, it is the main reason to close the loan through foreclsoure. But they are charging addition fee around 7% on the principal amount.
      Was this review helpful? 0
      , indore
      Reviewed on Oct 17, 2017
    • Bajaj Finserv Personal Loan
      "average service"
      0.5 3.5/5 "Pretty good"
      I had a personal loan with BAJAJ the service was decent their communication was good in a decent manner but their customer service is not much I expected from BAJAJ but the rate of interest is better but they asked for lot of documents still the service of BAJAJ is average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Bajaj Finserv Personal Loan
      "Dissatisfied Service"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserv approved the loan amount of Rs. 6lakhs, but I need the loan of Rs. 2 lakhs but they told me it was flexi loan. But they charged me 1.5% of processing fee for whole Rs.6 lakhs including insurance fee. Without my confirmation they charged all the amount. It was really bad and I couldn't reach their customer service for any queries.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 14, 2017
    • Bajaj Finserv Personal Loan
      "Interest rate and charges should be reduced"
      0.5 1.0/5 "Really Bad"
      I am not satisfied with Bajaj Finserv personal loan interest, they offered me 15% for the amount 1.25 lakh and also they taken huge processing fee. Finally Rs.1.08 lakh only credited in my account. Initially they gave basic information about the personal loan but they not disclosed about the rates and charges it should be transparent.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2017
    • Bajaj Finserv Personal Loan
      "execellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with BAJAJ finance month back .The loan amount was 20,000 and the rate of interest was 8-9% which was satisfactory.The EMI period was 15 months. They have provided door step service for the documentation collection and they have sanctioned the loan with in 3 days so I would like to recommend and rate 5 out of 5 overall.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2017
    • Bajaj Finserv Personal Loan
      "Helpful"
      0.5 5.0/5 "Blown Away!"
      I applied for a Personal loan with Bajaj Finserv in a time when I need it the most. And I got the loan instantly the procedure were simple and were not time consuming.I applied for a Rs.40000 loan which i got instantly. Thank you so much Bajaj Finserv.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 11, 2017
    • Bajaj Finserv Personal Loan
      "Friendly"
      0.5 5.0/5 "Blown Away!"
      They let me know were my credit score was lagging. The person who got the loan put his neck out for me. Interest rate is little high though. I really like the friendliness of this bank, and has a very high recommendations for them. They really did impress me.
      Was this review helpful? 0
      , ponda
      Reviewed on Oct 10, 2017
    • Bajaj Finserv Personal Loan
      "Pre-approved personal loan"
      0.5 5.0/5 "Blown Away!"
      I got a pre approved personal loan from BAJAJ FINSERV.So there wasn't any documentation needed.The disbursed loan amount was 1 lakh 19 thousand.The rate of interest was 16.5% with monthly EMI 5200 for 28 months. I can suggest BAJAJ FINSERV for personal loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 09, 2017
    • Bajaj Finserv Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      Bajaj Finserv is very good and they providing a good customer service. Executive is very kind and clarified all my doubts. I make my payment through ECS. They asked me to keep the documents ready, executive will come and collect it. Rate of interest is better with Bajaj Finserve.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 09, 2017
    • Bajaj Finserv Personal Loan
      "Rate of Interest is very high"
      0.5 1.0/5 "Really Bad"
      Bajaj Finserve promised me they would disburse the personal loan amount within one day but it took almost a week. They are not responding me properly. The rate of interest in Bajaj Finserve is 13% which I felt is lot more that what others offer.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 09, 2017
    • Bajaj Finserv Personal Loan
      "Approachable bank"
      0.5 4.0/5 "Great!"
      BAJAJ FINSERV approved my personal loan.And it took 10 working days for the approval. The disbursed loan amount was 580000 with a rate of interest of 14 %. The monthly EMI is 20000 with 36 of tenure.The most disappointing thing about the BAJAJ FINSERV was there is no proper customer service.For the status of my application i used to sent mail and after 48 hours the reverted me with the status.And the processing fees came around 30000 which is still i am confused with.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 08, 2017
    • Bajaj Finserv Personal Loan
      "average service"
      0.5 3.5/5 "Pretty good"
      Service is good from BAJAJ as I got my personal loan from BAJAJ ,documentation part was fine and easy and customer service and other representatives are very helpful ,I can say the overall service is average from BAJAJ . No issue till now from BAJAJ.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Personal Loan
      "Dissatisfied service"
      0.5 2.0/5 "Expected more"
      I had applied for a personal loan with Bajaj fin serv. customer service is not satisfactory they promised to give 13% initially ,it was processed they gave it for 26% is really high however, am panning to close the Emi,foreclosure is 4%.Totally not convinced with the service.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The Bajaj finserv has approved and disbursed my loan amount within 3days of time. The customer service is pretty good with Bajaj finserv. The rate of interest is average with Bajaj finserv., rather it is high when compared with other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I got the loan amount within 2days of time. I have visited the BAJAJ Fisnerv branch and submitted my required documents to process for the personal loan. The rate of interest is nominal with Bajaj finserv. I am satisfied with the loan amount.
      Was this review helpful? 0
      , nelamangala
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Had a loan experience with BAJAJ FINSERV around 6 years ago. The service was excellent with Bajaj, they have disbursed my loan amount with in 72hours of time. They had a verification in documentation process and they have verified it in a day and the amount was credited on the next day.
      Was this review helpful? 0
      , howrah
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Personal Loan
      "Looking for better interst rate"
      0.5 5.0/5 "Blown Away!"
      Morning I placed a request in Bajaj Finserv for the personal loan in the evening loan amount got credited around 1.50 lakh for the tenure of three years. Bajaj Finserv gave me 21% of interest it was very higher side but still I appreciate the fast service.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Oct 06, 2017
    • Bajaj Finserv Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have taken my personal loan with BAJAJ. The loan amount was 2.25 lakhs and the rate of interest was 15%their customer service and responses was very bad because they have given fake promises and cheated . I have requested to reduce my EMI period many times but they forced me to pay for 3 years. My overall experience was not satisfactory and i would not recommend also.
      Was this review helpful? 0
      , jaipur
      Reviewed on Oct 06, 2017
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