Personal Loan Rates 20185471 views
- Apply for Bajaj Finserv Personal Loan at the Lowest Interest Rate of 10.99% - 16.00%
- Get a Loan of Up to ₹25 Lakh within 24 hours
Table of Contents
- 1 About Bajaj Finserv Personal Loan
- 1.1 Why Choose Bajaj Finserv Personal Loan?
- 1.2 Bajaj Finserv Personal Loan Interest Rate October 2018
- 1.3 Bajaj Finserv Personal Loan Eligibility
- 1.4 List of Documents Required
- 1.5 Apply Bajaj Finserv Personal Loan Online
- 1.6 Bajaj Finserv Personal Loan EMI Calculator
- 1.7 Bajaj Finserv Personal Loan Status
- 1.8 Bajaj Finserv Personal Loan Customer Care Number
- 1.9 Bajaj Finserv Personal Loan Login
- 1.10 Bajaj Finserv Personal Loan for your Special Needs
- 2 What is Bajaj Finserv Flexi Personal Loan?
About Bajaj Finserv Personal Loan
In India, there are many banks and NBFCs that provide PL and Bajaj Finserv is one of the leading Non-Banking Financial Company (NBFC) that provides a higher loan amount facility at an attractive rate of interest. Bajaj Finserv Personal Loan takes care of everything without digging a hole in the applicant’s pocket. This finance company provides customized funds for multiple purposes like Wedding, Travel, Home Improvement, Medical Emergency and Higher Education, etc. Bajaj offers this loan at the starting rate of 10.99% and goes up to 16% per annum with the tenure up to 5 years. In addition to this, there is an additional scheme named Flexi Personal Loan which is beneficial for the smoother repayment. This 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.
Bajaj Finance Personal Loan is a multi-purpose loan and can be taken for any legitimate purpose. So, have a look at some of the main purposes for which you can take money:
- Home Improvement
- Medical Emergency
- Higher Education
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
Why Choose Bajaj Finserv Personal Loan?
Here are some of the main features of Bajaj Finserv that make it different from others.
- Online Loan Applications: The candidates can apply from the comfort of home or office through the online service by visiting the official website. Hence, it is convenient.
- Get Instant Online Approval: Now that the world is becoming digital in all aspects, the online process is, of course time-saving. The applicant can get instant online approval within a few minutes with the privilege to apply online.
- Get Money in 72 hours: To fulfill the sudden need of money of the applicant, the company disburses the money into the applicant’s bank account within 72 hours.
- Loan Amount up to ₹ 25 lakh: Bajaj Finance gives one of the highest funds with up to ₹25 lakhs with the flexible repayment option and tenure ranging from 12 months to 60 months.
- Online Account Access: After all the formalities related to approval is completed, a person can access all the information related to the payment schedule, EMI payable, interest certificate, and other related information.
- Attractive Rate of Interest: The interest rates at Bajaj are one of the lowest interest rates with the starting rate of 10.99% per annum.
- Attractive Offers for Existing Customers: The existing customers of Bajaj Finance has the privilege to get exclusive pre-approved offers.
- Part Prepayment Facility: There is a facility to do part prepayment as well with the help of which you can make the payment as per your convenience.
- Zero Foreclosure Charges: The company does not charge anything on the foreclosure and hence you are able to save more.
- 24X7 Customer Support: The 24X7 customer support helpline including a toll-free number, email and SMS is available for the convenience of the customers.
Bajaj Finserv Personal Loan Interest Rate October 2018
Bajaj Finserv is one of the leading NBFCs that gives one of the lowest personal loan interest rates in India. Having said that, the interest rates are available with the starting rate of 10.99% and goes up to 16% per annum. Let’s just know more about the same below.
|Interest Rate||10.99% - 16.00%|
|Loan Amount||Up to ₹ 25 lakhs|
|Processing Fee||Up to 3% of the loan amount|
|Prepayment Charges||Upto 4% post 1st EMI clearance|
|Part prepayment Charges||2% on part-payment amount paid+GST|
Bajaj Finserv Personal Loan Eligibility
At Bajaj, both salaried as well as self-employed individuals are eligible to apply and get the funds. However, there is a certain eligibility criterion for the applicants according to which their applications are accepted. Having said that, this criterion is subject to change from one person to another. So, have a look at the below-given eligibility criteria and see if you are eligible or not:
- An applicant should be salaried
- He/She must be a residing citizen of India
- The minimum age of the applicant must be 25 years
- The maximum age of the applicant must be 58 years
- The minimum Net Monthly Income of a salaried applicant should be ₹27,000/₹30,000/₹32,000/₹37,000 (salary requirement are different from city to city
A person can also check his/her eligibility with the help of a Personal Loan Eligibility Calculator online that works on the basis of the profile of the customer. Yes, the device takes into account-Income, Loan Amount, Monthly Expenses and so on, hence lets you know how much exact loan amount you can actually avail from a lender to meet your varied needs.
List of Documents Required
The Applicant must carry all the documents listed below so as to avail this unsecured loan:
- Signed loan application form with photos
- Employee ID Card
- Identity Proof- PAN Card/Passport/Driver’s License/Voter ID
- Address Proof- Passport/Driver’s License/Ration Card/Mobile Bill/Letter from employer
- Signature Proof- Passport/PAN Card/Driver’s License/Photo Credit Card/Letter from the bank verifying signature
- Work experience documents- Appointment letter, Form 16, 1-year-old salary slip, for the previous employment also
- Business IT returns for at least past 1 year
- Previous year’s turnover duly audited by a CA
Apply Bajaj Finserv Personal Loan Online
At Bajaj Finserv, the application process is very simple with easy documentation. There is no collateral required so the documentation is hassle free and quick. With the advantage of online application, a person can apply as per his/her convenience and get instant approval as well. In addition to this, an applicant can also check the eligibility in advance on the website and then apply for it. However, an applicant can also choose an offline medium, i.e. visit the bank branch in person to apply for this loan.
Bajaj Finserv Personal Loan EMI Calculator
A personal loan EMI calculator is the tool that is used to calculate the EMI you have to pay. A borrower can calculate the monthly installments he is liable to pay and decide your affordability. With the knowledge of the EMIs in advance, a person gets the chance to manage his monthly finances accordingly. In the EMI calculator, the mandatory fields to be filled in are:
- Loan Amount
- Interest Rate
Let’s just have a better clarity on the same with the help of an example below:
Suppose that a person is planning to take a loan of ₹ 2 lakhs and has been offered the interest rate of 10.99% 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 Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 2,00,000 10.99% 1 ₹ 17,675 ₹ 12,105 ₹ 2,12,105 ₹ 2,00,000 10.99% 2 ₹ 9321 ₹ 23,695 ₹ 2,23,695 ₹ 2,00,000 10.99% 3 ₹ 6547 ₹ 35,685 ₹ 2,35,685 ₹ 2,00,000 10.99% 4 ₹ 5168 ₹ 48,070 ₹ 2,48,070 ₹ 2,00,000 10.99% 5 ₹ 4347 ₹ 60,849 ₹ 2,60,849 Year Principal Interest Balance Amount 1 ₹ 31,757 ₹ 20,412 ₹ 1,68,242 2 ₹ 35,429 ₹ 16,740 ₹ 1,32,812 3 ₹ 39,525 ₹ 12,645 ₹ 93,287 4 ₹ 44,094 ₹ 8075 ₹ 49,192 5 ₹ 49,231 ₹ 2977 ₹ 0
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Bajaj Finserv Personal Loan Status
The loan applicant can track his/her personal loan status after submitting the application. He/she can check the loan application status by visiting the website and entering the Case ID/ File ID/ Loan ID. A person is also supposed to enter the mobile number. Soon, after doing the same, the loan application status will be displayed on the screen. Thus, it is absolutely easy and a quick process to know the real-time status of your loan. With the help of this online facility, it is easy for you to know whether your loan application has been accepted, rejected or pending. It is that simple and quick.
Bajaj Finserv Personal Loan Customer Care Number
Bajaj Finserv has made it convenient for the customers to ask any queries related to loans. A loan seeker can contact the company at the toll-free number.: 020 3957 4151. The executives are always there to listen and solve all your queries and complaints and try to give you the best solution always. These experts with their friendly nature and expertise help you in the best way and are always ready to guide and support you. They are always ready to guide the customers and ensure that you have a hassle-free journey ahead.
Bajaj Finserv Personal Loan Login
With the online access to your personal loan account, you can anytime from anywhere login. With the help of the credentials such as by having a login ID and password, it is just so simple and quick to log in to your account and get the details of your personal loan in a hassle-free manner. It is absolutely easy to go through this process and know your account details without any hassle. With the help of this online facility, everything is now at your fingertips as you can easily manage things on the go. That’s amazing, isn’t it?
Bajaj Finserv Personal Loan for your Special Needs
Bajaj Finserv offers customized personal loans to meet the unique needs of the varied people. The lender offers a loan to the following:
- Government Employees: Individuals employed by the government and various PSUs can avail the customized loan offers by availing the personal loan for government employees.
- Teachers: The educators can easily meet their financial goals with ease by availing the personal loan for teachers, which comes with instant approval and disbursal.
- Women: This instant financing option is for the strong, independent woman of today and in order to avail the same, you need to apply for personal loan for women.
- Debt Consolidation: Consolidate all your existing loans into one and manage your installments effectively with a debt consolidation loan.
What is Bajaj Finserv Flexi Personal Loan?
The Flexi loan account is the facility extended by Bajaj Finserv wherein a borrower gets the facility to prepay and draw-down money within the drop-line facility. A borrower can also opt for a self-service process to save time. This flexi loan allows you to borrow the funds anytime you need it and pre-pay when you can from a single pre-approved loan limit. And, that too, instantly.
Benefits of Bajaj Finserv Flexi Loans
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:
- Flexibility to pre-pay the loan with idle funds without any extra cost involved
- Re-avail the pre-paid amount within the drop-line facility at any time during the loan tenure with no additional documentation needed
- Interest paid only on the utilized loan amount.
- Easy and hassle-free online transactions with self-service account access tool for drawdown and RTGS (Real-time Gross Settlement Systems) that allows pre-payment through net banking facility
- Facility to make prepayments for up to 6 times in a year
How to Apply
Step 1: Fill the application form with all the required details and submit the same
Step 2: For an instant approval, select the required loan amount and tenure.
Step 3: The executives will get in touch with you to get the required documents.
Step 4: Soon after the verification, the loan amount will be credited to your account
In order to apply for Flexi Loan, an applicant needs to fulfill the below eligibility criteria:
|An applicant should be an Indian Citizen||An applicant should be an Indian Citizen|
|He/She should work either in the MNC, public or private company||The business of an individual should have a vintage of at least 3 years|
|An individual should be aged between 25 to 55 years||Income Tax returns filed for at least the past 2 years|
|Have previous year’s turnover duly audited by a CA|
|Self-employed professionals (SEP), self-employed non-professional (SENP), an entity such as a partnership, a limited liability partnership, a private limited or closely held limited company.|