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Double the Joy of Celebration with Bajaj Finserv Wedding Loan

Wedding Loan625 views

So, you are all set to tie the knot and having pleasant feeling of spending life with your soon to be better half, right! It really is a moment to savour and cherish. While it's good to be soaking in the pre-marriage experience, you should also focus on the tool by which you can make the wedding a grand affair. Yes, you heard it right. It's the personal loan which you can avail to fulfill the expenses that your D-Day would vouch for. Talking about the lender from where you can get the loan quickly with improved service quality and faster disbursement, it's Bajaj Finserv that can disburse you a loan within 72 hours from making the application. The non-banking finance company (NBFC) runs wedding loan business via personal loan. So, without wasting any time, here's the wedding loan details offered by Bajaj Finserv.

Bajaj Finserv Wedding Loan Details:

Interest Rates16% p.a.
Loan AmountUp to Rs. 25 lakh
Repayment24 months-60 months
Processing Fees2.25% - 3% of the loan amount
Foreclosure Charges4% of Outstanding Balance +Taxes as Applicable
Part-payment charges2% on Part-payment Amount+Taxes as Applicable
Secure FeeRs. 999 (only for online)

Features and Benefits of Bajaj Finserv Wedding Loan :

  • Quickest approvals
  • Fastest disbursals
  • Lowest interest rate
  • Complete process available online
  • Simple documentation
  • Affordable Financing
  • Easy monthly repayment options
  • High loan amounts

Eligibility Criteria for Bajaj Finserv Wedding Loan:

To avail the travel loan in Bajaj Finserv, you need to fit into the below eligibility criteria.

CriteriaSalaried ProfessionalsDocumentation
Age23-58 years Identity Proof- Driving License/ Passport/ Voters ID / PAN Card (any one)
Net Salary Minimum salary of Rs 17,500 per month, 25,000 for applicants residing in Delhi, Mumbai, Kolkata and Chennai. Rs 20,000 for people living in Chennai, Hyderabad, Bangalore, Pune & Kolkata Residence Proof:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one)
Total years in job/profession Minimum 2 years Last 3 months Bank Statement (where salary/income is credited)
Years in current residence 1 year Salary slips for last 3 months
2 Passport Size photographs
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Documents Required for Bajaj Finserv Wedding Loan:

Next, thing on which you need to pay attention is the documentation required to get the travel loan from this NBFC.

ParticularsSalary slips of last 2 months
Bank StatementsLatest 3 months salary account bank statement
Employment ProofEmployee ID card and visiting card
Current employment:Appointment letter / form 16 / 1 year old salary slip
Work Experience DocumentPrevious employment:Appointment letter / form 16 / promotion letters/ transfer / confirmation letters / previous salary slip
KYCIdentity proof:Passport / voters ID card / driving license / pan card
Address proof:Passport / driving license / ration card / latest mobile bill / letter from employer (with hr /admin sign)
Signature proof:Passport / pan card / driving license / photo credit card (front only) / banker verification letter (online only)
Age proof: Passport/ pan card / driving license / birth certificate

Bajaj Finserv Wedding Loan Eligibility Calculator

Above, you must have gone through the basic eligibility criteria to access wedding loan from Bajaj Finserv. Now, the time has come to know the loan amount that you can hope to get from the lending institution. You must be wondering about the methodology that can be used to calculate the loan amount, right! So, what is that one tool on which your marriage plan depends greatly upon? To end the suspense, let me mention 'Bajaj Finserv Wedding Loan Eligibility Calculator' that will do the same. The calculator will initially focus on the computation of per lakh EMI, which can be calculated based on the existing interest rate and the maximum loan tenure. So why to wait? Start computing per lakh EMI for your wedding loan by glancing through the example below.

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Loan Amount- Rs. 1,00,000
Interest Rate-16% p.a.
Tenure-5 Years
Per Lakh EMI-Rs. 2,432

Now comes the role of your income and savings to step in and dictate the loan amount calculation. Suppose you are bagging away a net take home income of Rs. 40,000 per month and save upto Rs. 22,000 after the deduction of expenses. With all these figures on your side, the expected loan amount calculation can be suitably made by the formula below.

Expected loan amount- Rs. 1,00,000 x savings/per lakh EMI
                                    – Rs. 1,00,000 x 22,000/2,432= Rs. 9.04 lakhs (Approx.)

So, an amount of Rs. 9.04 lakhs is waiting at your doorstep as a wedding loan from Bajaj Finserv.

Bajaj Finserv Wedding Loan EMI Calculator

It gets easier to calculate the EMIs, the abbreviated form of Equated Monthly Installments, the moment you know the loan amount you can expect to receive from the lender, isn't it. To know the EMIs payable, you need to glance through Wedding Loan EMI Calculator. With a mere entry of loan amount, interest rate and tenure, the calculator will flash the EMIs. In addition, you can check out the overall interest outgo and total payment over the course of your wedding loan journey.

Example- You are in need of Rs. 7 lacs for your marriage. If you want to apply for wedding loan at Bajaj Finserv and look to know the EMIs and other payments, see the table below.

Loan Amount (In Rs.) Tenure (In Years)Interest Rate (In % p.a.)EMI (In Rs.)Total Interest (In Rs.)Total Payment (Principal+Interest) (In Rs.)
Rs. 7,00,0001166351262139762139
Rs. 7,00,00021634274122580822580
Rs. 7,00,00031624610185957885957
Rs. 7,00,00041619838252233952233
Rs. 7,00,000516170233213581021358
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(Updated on:6th December,2016)

Free CIBIL Score
Personal Loan Interest Rates January 2020
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank10.75% - 21.45%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank11.50% - 18.00%
Tata Capital10.99% - 18.00%

Home Loan Interest Rates January 2020
State Bank of India/SBI7.90% - 8.55%
HDFC8.00% - 8.95%
LIC Housing8.10% - 8.95%
PNB Housing Finance9.25% - 12.00%
Piramal Capital & Housing Finance9.00% - 9.10%
Tata Capital9.20% - 9.35%
ICICI Bank8.25% - 9.35%
Bank of Baroda8.40% - 9.40%
Axis Bank8.90% - 9.15%
Citibank9.00% - 9.85%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.90% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 14.00%