If you need extra money for your personal needs – whether it’s for a wedding, home renovation, travel, education, or medical emergency – a Bajaj Finserv Personal Loan can be a good option. It’s an unsecured loan, which means you don’t need to give any property or asset as security. The loan process is simple, and the approval is quick, making it suitable for people who need funds urgently.
In this article, we will explain everything you should know about Bajaj Finserv Personal Loan – eligibility, features, benefits, documents required, interest rates, and the application process.
- Key Features of Bajaj Finserv Personal Loan
Bajaj Finserv offers flexible and customer-friendly personal loans. Here are the main features:
Loan amount: You can borrow from ₹1 lakh to ₹40 lakh, depending on your eligibility.
Tenure: Repayment period ranges from 12 months to 96 months (1 year to 8 years).
No collateral: No need to pledge any property or asset.
Quick approval: Instant approval for eligible customers, often within minutes.
Fast disbursal: Money is credited to your account in 24 hours or less after approval.
Flexible repayment: You can choose EMIs according to your budget.
Pre-approved offers: Existing Bajaj Finserv customers may get pre-approved personal loan offers with minimal documentation.
- Benefits of Bajaj Finserv Personal Loan
- Instant Funds – Ideal for emergencies, where you need money without delay.
- No Hidden Charges – All fees are clearly mentioned in the loan agreement.
- Online Process – Apply from your home using the Bajaj Finserv website or app.
- Flexi Loan Option – Borrow as much as you need from the approved limit and pay interest only on the amount you use.
- High Loan Amount – Up to ₹40 lakh is available, which can cover major expenses.
- Long Repayment Period – Up to 8 years, so EMIs can be kept small and manageable.
- Eligibility Criteria
To get a Bajaj Finserv Personal Loan, you need to meet some basic conditions:
Age: Between 21 and 80 years (at the time of loan maturity).
Employment: Salaried employee in a private company, public sector, or MNC.
Income: Minimum monthly salary requirement depends on the city you live in (generally around ₹25,000 for metro cities, lower for smaller cities).
Credit Score: A CIBIL score of 685 or above is preferred.
Work Experience: At least 1 year of total work experience, with a minimum of 3 months in your current job.
- Documents Required
Bajaj Finserv keeps the documentation simple. You usually need:
KYC documents (Aadhaar card, PAN card, passport, voter ID, or driving licence)
Employee ID card
Last 2 salary slips
Last 3 months’ bank statements (salary account)
Passport-size photograph
If you are an existing Bajaj Finserv customer, you may not need to submit all documents again.
- Interest Rates and Charges
The interest rate for a Bajaj Finserv Personal Loan generally starts from around 11% per annum and may go up depending on your credit profile, income, and city.
Other charges to note:
Processing fee: Up to 3.93% of the loan amount (including GST)
Part-prepayment charges: 2% plus taxes (if applicable)
Foreclosure charges: 4% plus taxes (for closing the loan early)
Penal interest: 3.50% per month on overdue EMIs
It is important to read the terms carefully before signing.
- How to Apply for Bajaj Finserv Personal Loan
You can apply in two ways – online or by visiting the nearest Bajaj Finserv branch.
Online Application Steps
- Visit the official Bajaj Finserv website or download the app.
- Select “Personal Loan” and click on “Apply Now.”
- Fill in your basic details – name, mobile number, employment type, monthly income, and city.
- Upload your documents.
- Get instant approval if you are eligible.
- Loan amount is credited to your account within 24 hours.
Offline Application
Visit a Bajaj Finserv branch with your documents.
Fill in the application form.
Wait for approval and disbursal.
- Tips to Get Your Loan Approved Quickly
Maintain a good credit score – Pay your credit card bills and EMIs on time.
Keep documents ready – This speeds up the verification process.
Apply for a realistic amount – Ask for a loan amount that matches your repayment capacity.
Have stable employment – Lenders prefer people with steady jobs.
- Why Choose Bajaj Finserv?
Bajaj Finserv is one of the most trusted NBFCs (Non-Banking Financial Companies) in India, with a strong record in providing personal loans. They are known for:
Fast loan approvals and quick disbursals
Transparent charges with no hidden costs
Customer-friendly repayment options
A large network across India
- Final Thoughts
A Bajaj Finserv Personal Loan can be a reliable choice when you need money urgently without pledging any security. With high loan amounts, flexible tenures, and a simple application process, it suits both planned and unplanned expenses.
However, remember that a personal loan is a financial responsibility. Borrow only what you need and can repay comfortably. Compare interest rates, check all charges, and read the loan agreement carefully before accepting the offer.
If used wisely, a Bajaj Finserv Personal Loan can help you meet your goals without putting pressure on your savings.
