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Bajaj Finance Personal Loan

Last Updated 05th Aug 2017

Bajaj Finserv Personal Loans

Salaried Self Employed
Rate of Interest 11.99% - 15.50% 14.00% - 20.00%
Maximum Loan Tenure From 24 months to 60 months From 12 months to 48 months
Loan Amount Between Rs. 100,000 to Rs. 2,500,000 Between Rs. 500,000 to Rs. 3,000,000
Lowest EMI per lakh Rs. 2,224 per lakh Rs. 2,733 per lakh
Age Between 27 years to 58 years Between 25 years to 65 years
Processing Fee 2.25% - 3% 2%
Apply Personal Loan @ 10.99%*

Bajaj Finance Personal Loan Details

Bajaj Finance Personal Loan Document List

Documents Salaried Self Employed
Signed Application Form Yes Yes
Passport Size Photo Yes Yes
Copy of Income Tax PAN Yes Yes
Identity Proof Passport/ Driving License/ Voter ID/ PAN Passport/ Driving License/ Voter ID/ PAN
Address Proof Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Income Proof months pay slip, years Form 16, months bank statement showing salary credit and any EMI debit 3 months bank statement
Business Proof VAT/ service tax registration, incorporation details in case of companies, business address proof

Bajaj Finance Personal Loan Apply

Bajaj Finserv gives the facility of personal loan to the people who want money to meet their urgent requirements. There are some features and benefits of taking personal loan from Bajaj Finserv:

  • Products with OD facility, part payment flexibility
  • Multiple products to help reduce interest burden
  • Online loan servicing facility
  • Bajaj Finserv offers special schemes and discounts for employees of large companies

Personal Loan Bajaj Finserv

Bajaj Finserv Personal Loan Calculator

Interest Rate Calculator - This helps you in identifying the interest rate charged on applied Bajaj Finance loan amount for effective tenure.

Interest rate on Bajaj Finance personal loan depends upon

  • Loan Amount - Higher the loan amount, lesser will be the interest rate
  • Salary - Bajaj Finance interest rate varies with your net monthly income. Higher income leads to low interest rate
  • Company where you work - Your Company listed in Bajaj Finance can avail you personal loan with best interest rates.

Eligibility Calculator - This calculator calculates your personal loan eligibility depending upon your monthly income, company profile and existing obligations (if any). Apply for only that much loan amount, what you are eligible for. This calculator calculates eligibility based on salary. You can also calculate your home loan eligibility online and based on that apply for loan. Eligibility depends on:

  • NTH - Higher monthly income increases your eligibility to get Bajaj Finance personal loan. Bajaj Finserv requires a minimum income of at least Rs. 27,000 to avail you loan.
  • Area of residence - Your personal loan eligibility also depends on the area where you stay. Bajaj Finserv has a list of areas to which they avail personal loan
  • Obligations - Your existing obligations can reduce your chances of getting personal loan from Bajaj Finserv. So, complete your existing obligations first and then apply for loan.

There are various methods of calculating eligibility

  • Multiplier method - This method calculates your loan amount based on your income and company profile.
  • FOIR (Fixed Obligation Income Ratio) - Your loan amount eligibility is calculated on the basis of your maximum EMI or monthly installments in respect to your income.

EMI Calculator - Personal Loan EMI calculator helps you in calculating your monthly EMI based on the loan amount, interest rate and tenure you have applied for.

Topup, Balance Transfer, Preclosure

Personal Loan Topup of Bajaj Finserv

A top up loan is an additional finance that can be availed on top of your existing loan with the same bank in order to meet your personal or professional needs. You can avail personal loan top-up from Bajaj Finserv, subject to your eligibility

Personal Loan Preclosure of Bajaj Finserv

These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Bajaj Finserv allows prepayment of personal loan after paying 12 EMI’s with Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%

Personal Loan Balance Transfer of Bajaj Finserv

Bajaj Finserv offers personal loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Bajaj Finserv.

FAQs on Personal Loan from Bajaj Finance

How Bajaj Finance does calculate NTH for personal loan?

NTH in Bajaj Finance is calculated as the average of last 2 to 3 months net income as per your salary slip and same replicating in bank statement.

Can I prepay my personal loan in Bajaj Finance?

Yes, you can prepay your personal loan in Bajaj Finance after 1 months.

How much fee is charged by Bajaj Finserv for personal loan?

Processing fee charged on Bajaj Finance personal loan is 2.25% - 3% with applicable service tax.

Is Bajaj Finance BT a better option?

Bajaj Finserv offers minimum rate of 11.99% with lowest EMI of Rs. 2,224 per lakh. If you are paying higher EMI than Bajaj Finserv, then balance transfer is the right option.

Can I check my loan account statement online?

You can login into your Bajaj Finserv online net banking account to get your loan details, track your loan history and make the payment online.

Easy comparison of Bajaj Finance personal loan with other banks

Bajaj Finserv Personal Loan
Lowest EMI
Personal Loan Eligibility
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