Personal loans are the best option when it comes to sudden financial needs. With the facility to get huge loan amount for low-interest rates without any collateral, a personal loan has all that a loan seeker wants. Be it any financial need like the business extension, abroad travelling, foreign education, family function, home renovation, etc. Bajaj Finance Personal Loan takes care of everything without digging a hole in the loan applicant's pocket.
Bajaj Finance is the leading Non-Banking Financial Companies (NBFC) that offers Personal Loan for Wedding, Personal Loan for Travel, Personal Loan for Home Improvement, Personal Loan for Medical Emergency and Personal Loan for Higher Education also. Bajaj Finance provides personal loans with the interest rate starting from 11.99% p.a. onwards with the loan tenure up to 5 years. Bajaj Finance Flexi Personal Loan is the facility wherein a borrower can pre-pay and drawdown money within the drop-line facility using a self-service process without any hassle. Read this article to know more in detail about the personal loan facility of Bajaj Finserv.
|Interest Rate||11.99%p.a. onwards|
|Loan Amount||Up to ₹ 25 lakhs|
|Processing Fees||2.25%-3% of the loan amount|
Here are some of the main reasons that make Bajaj Finance one of the best personal loan providers.
Like any other personal loan, Bajaj Finserv Personal Loan is also a multi-purpose loan. So, some of the main purposes for which this personal loan scheme can be availed are as follows:
The personal loan product of Bajaj Finance is designed for salaried class individual wherein the company has set certain eligibility criterion for the applicants. So, people who are looking for a personal loan from Bajaj Finserv must come under the below eligibility criteria:
A loan seeker can also check his/her eligibility for Bajaj personal loan online with the help of the Bajaj Finserv Personal Loan Eligibility Calculator that works on the basis of the profile of the customer.
To get a personal loan from Bajaj Finance, a loan applicant must carry all the documents listed below:
The process to apply for a personal loan at Bajaj Finserv is very simple with easy documentation. Since, there is no collateral required to take a personal loan, the documentation involved in the loan approval process is quick. With the privilege to apply online, a person can get instant loan approval. Also, a loan seeker can check the eligibility in advance on the website and then apply for it.
Personal Loan EMI calculator is the tool that is used to calculate the EMI you have to pay for the loan. A borrower can calculate the monthly installments he is liable to pay to Bajaj Finance and decide the affordability of the loan. With the knowledge of the EMIs in advance, a person gets the chance to manage his monthly finances accordingly. In a personal loan EMI calculator, the mandatory fields to be filled in are:
For eg., let us suppose that a person is planning to take a loan from Bajaj Finance for the loan amount ₹ 2 lakhs and has been offered the interest rate of 11.99% per annum. Now, the borrower has chosen the loan tenure of 5 years. The monthly installments that he will have to pay can be seen here:
Table for EMI per month, Total Interest Outgo and Total Amount
|Loan Amount (in ₹ )||Interest Rate (p.a)||Tenure (in Years)||EMI (in ₹ )||Total Interest Outgo (in ₹ )||Total Amount (Principal + Interest) (in ₹ )|
|Year||Principal (in ₹)||Interest Outgo (in ₹)||Balance Amount (in ₹)|
Flexi loan account is the facility extended by Bajaj Finance wherein a borrower gets the facility to prepay and drawdown money within the drop-line facility. A borrower can also opt for a self-service process to save time.
If a person chooses the flexi loan facility, he can save interest cost by pre-paying any additional or idle funds (if any) without paying any charges on the part-paid amount. Here are some of the benefits of flexi loans over an existing term loan that will help you in taking a decision henceforth:
On a personal loan, Bajaj Finance is the leading NBFC that gives one of the lowest personal loan interest rates in India. The personal loan interest rates are available with the starting rate of 11.99% per annum onwards.
Some of the main features of personal loan scheme of Bajaj Finserv are as follows:
Bajaj Finance has made it convenient for the customers to ask any queries related to a personal loan. A loan seeker can contact the company on the toll-free no.: 020 3957 4151