Bajaj Finserv personal loan is an ideal loan option for those who need a small amount of loan for daily expenses. It is provided by Bajaj Finserv, one of the largest personal loan companies in India.
Bajaj Finserv personal loan interest rate is competitive and depends on the repayment tenure. Besides, it comes with a number of benefits such as cashback, repayment flexibility, and credit transfer facility. Without further ado, let’s dive into the details of this personal loan.
Benefits of Bajaj Finserv Personal Loan
Bajaj Finserv is a personal loan provider that has been around for more than a decade now. The bank has offered loan tenure of up to 5 years with interest rate starting from 13% and loan amount of Rs.25 lakhs. Additionally, customers are offered pre-approved loan offers of minimal documentation. These loan offers are available to existing customers with minimal documentation thus making the loan disbursal process hassle-free. Besides, the bank has tie-ups with hundreds of banks across the country, which provides easy access to loans. This personal loan can be availed by people of all age groups as it is affordable and flexible.
Eligibility Requirements for a Bajaj Finserv Personal Loan
-To be eligible for a Bajaj Finserv Personal Loan, applicants must be Indian residents aged between 23 to 58 years old. – To be eligible, applicants must have a CIBIL score of above 750
– Salaried applicants must have a minimum salary limit of INR 20 lakhs depending on their place of residence. – For instance, for an individual residing in Mumbai, the eligibility criteria is loan amount of INR 30 lakhs and repayment tenure of 25 years. – Self-employed applicants must have a minimum work experience of 1-3 years and proof of fixed monthly/annual income. -Bajaj Finserv personal loan eligibility criteria also includes age limit of 27 years and a CIBIL score of 750 or higher
The eligibility criteria vary from lender to lender. However, it’s essential to understand the loan repayment tenure, interest rate and loan amount before applying for a personal loan.
How to Apply for a Bajaj Finserv Personal Loan
– Bajaj Finserv Personal Loans can be borrowed as regular Term Loans with repayment in equated monthly installments of interest rate of 13%.
– Loan amount up to Rs.25 lakhs can be availed for a tenure of up to 5 years
– Interest rates start from 6.9% for loan tenure of 1 year and go up to 16% for loan tenure of 10 years
Bajaj Finserv personal loans are available for those with a good credit score of above 750 on personal loan application. The loan amount and tenure depends upon the credit score and repayment ability of the borrower.
The interest rate is fixed during loan tenure. The interest rate is compounded annually after every six months.
Bajaj Finserv personal loan interest rate is higher when compared to bank loan interest rates. However, you should find out if it’s a cheaper option or not, based on your credit score and repayment ability.
You can avail personal loan of Bajaj Finserv if your annual income is above Rs 25 lakhs.
Low-Interest Rates and Processing Fees on Bajaj Finserv Personal Loan
– Bajaj Finserv Personal loan interest rates start at 13%
– A personal loan from Bajaj Finserv enables customers to finance their expenses, such as education loan repayment, mortgage loan, credit card debt etc.
– There is no need for a guarantor or collateral when applying for a personal loan from Bajaj Finserv. The bank assesses the customer’s credit score and financial status before offering a personal loan of any amount.
– Processing fees are charged on the total loan amount at 3.93% inclusive of applicable taxes. These fees include interest rate charges, processing charges and other miscellaneous charges.
– Existing customers may be offered a pre-approved offer with instant disbursal into their account depending on their risk profile.
Get a personal loan from Bajaj Finserv and enjoy low interest rate on personal loans as well as other financial services.
What is Bajaj Finserv Personal Loan?
Bajaj Finserv Personal Loan is a financial loan offered by Bajaj Finserv, a financial services company based in India. The loan scheme is available to salaried and self-employed individuals in India between the ages of 23 and 55. Eligibility criteria for the loan are set by the lender and can be calculated using a personal loan eligibility calculator online.
The loan offers a number of benefits that include minimal documentation and a flexible tenure of up to 5 years. Additionally, special offers are currently available for Bajaj Finserv Personal Loan that include gifts worth up to Rs. 18,490 on disbursal of the loan.
How does Bajaj Finserv Personal Loan work?
Bajaj Finserv Personal Loan is a loan that is available to salaried individuals. Eligibility criteria for the loan includes having an active bank account, a valid credit score of not less than 620, and proof of income. The loan offers come with pre-approved offers for existing customers and documentation is necessary for the loan amount to be sanctioned. The loan tenure is up to 5 years with flexible loan repayment options like monthly installments or flexi interest installment plan only for a limited time. The loan amount is disbursed in full after approval and interest is charged on the full amount of the loan.
What are the benefits of Bajaj Finserv Personal Loan?
Bajaj Finserv Personal Loan offers pre-approved offers and flexible repayment options with a loan tenure of up to 5 years and minimum documentation. The loan amount up to Rs.25 lakhs is available with an interest rate starting from 13% depending on your credit score. Borrowers can avail Term Loan with repayment in equated monthly installments and Flexi-Interest only installments. Loan processing fees of up to 4.13% of loan amount + GST are applicable. Features and benefits such as minimum documentation, pre-approved offers, flexible repayment options, and more are available when you opt for a personal loan from Bajaj Finserv.
Bajaj Finserv Personal loan has various eligibility criteria. Besides, personal documentation of the applicants, loan amount, and tenure of repayment, personal data like gender, age, occupation, and residential address is also required. A personal loan application consists of bank statements and personal documents. After processing your eligibility, loan amount, and tenure of repayment, you will get the loan amount within a few hours of approval. If you have any other questions or want to know more about Bajaj Finserv personal loan eligibility criteria or other loan options, feel free to contact us.
Tags: Bajaj Finserv personal loan
