When it comes to quick and hassle-free personal loans in India, Bajaj Finserv is one of the leading names. With flexible loan amounts, minimal documentation, and fast disbursal, it has become a preferred choice for salaried as well as self-employed individuals. If you are planning to apply for a Bajaj Finserv Personal Loan, here’s everything you need to know about how much loan you can get and the CIBIL score required.
How Much Personal Loan Can You Get from Bajaj Finserv?
The loan amount you can avail of depends on multiple factors such as income, employment type, repayment capacity, and credit profile. Generally, Bajaj Finserv offers:
Loan Amount: Up to ₹40 lakh (subject to eligibility)
Tenure: Flexible repayment between 12 months to 96 months
Interest Rate: Starting from around 11% per annum (may vary based on profile)
Processing Fee: Usually around 2–3% of the loan amount
Factors that Decide Your Loan Eligibility:
- Monthly Income – Higher income increases your eligibility.
- Employment Type – Salaried employees with stable jobs get higher amounts.
- CIBIL Score – A higher score ensures better approval chances and lower interest rates.
- Existing Liabilities – Fewer ongoing EMIs improve your eligibility.
- Age – Typically between 21 to 60 years.
Minimum CIBIL Score Required for Bajaj Finserv Personal Loan
Your CIBIL score plays the most important role in personal loan approval.
Minimum CIBIL Score Required: 685–700 or above
Ideal Score: 750+ for better chances of approval and lower interest rates
If your score is below 685, the chances of rejection increase, or you may be offered a lower loan amount at a higher interest rate.
Why Choose Bajaj Finserv Personal Loan?
Instant approval with minimal documentation
Loan amount up to ₹40 lakh
Flexible tenure up to 8 years
No collateral required
Quick disbursal directly to your bank account
Online application with doorstep document collection in some cities
20 Frequently Asked Questions (FAQs)
Q1. What is the maximum personal loan amount I can get from Bajaj Finserv?
You can get up to ₹40 lakh depending on eligibility.
Q2. What is the minimum loan amount?
The minimum loan amount usually starts from ₹1 lakh.
Q3. What is the minimum CIBIL score required?
At least 685–700, but 750+ is ideal.
Q4. Can I get a loan if my CIBIL score is below 685?
Approval chances are low, but you may still get a loan at a higher interest rate.
Q5. What is the tenure for repayment?
Between 12 months and 96 months.
Q6. What are the interest rates?
Starts from around 11% per annum (subject to profile).
Q7. Is collateral required?
No, Bajaj Finserv personal loans are unsecured.
Q8. Can self-employed individuals apply?
Yes, both salaried and self-employed individuals are eligible.
Q9. How long does it take to get the loan?
Approval is instant, and disbursal can happen within 24–48 hours.
Q10. Is foreclosure allowed?
Yes, foreclosure is allowed after paying a certain number of EMIs (usually 6 months).
Q11. What are the foreclosure charges?
Typically around 4% of the outstanding amount.
Q12. Can I part-prepay the loan?
Yes, part-prepayment is allowed with nominal charges.
Q13. What documents are required?
KYC documents (Aadhaar, PAN), salary slips or bank statements, and proof of income.
Q14. What is the age limit for applying?
Usually 21 to 60 years for salaried, and up to 65 years for self-employed.
Q15. Does Bajaj Finserv check income before giving a loan?
Yes, your monthly income and repayment ability are key factors.
Q16. Can I apply online?
Yes, you can apply online through the official Bajaj Finserv portal or app.
Q17. Can I improve my chances if my CIBIL score is low?
Yes, by paying off existing EMIs on time, reducing debts, and improving your score before applying.
Q18. Does Bajaj Finserv offer pre-approved personal loans?
Yes, pre-approved offers are given to eligible existing customers.
Q19. Can I apply for a joint personal loan?
Personal loans are usually individual, but adding a co-applicant with a strong profile may improve approval chances.
Q20. How can I check my eligibility?
You can use the online eligibility calculator on Bajaj Finserv’s official website or app.
Final Thoughts
A Bajaj Finserv Personal Loan is a great option if you need funds for medical emergencies, weddings, travel, home renovation, or debt consolidation. To increase your chances of approval, maintain a CIBIL score of 750 or above, ensure a steady income, and keep your credit utilization ratio low. With the right financial discipline, you can make the most of Bajaj Finserv’s flexible and customer-friendly loan services.
