to apply for Bajaj Finserv Ltd. personal Loan
Bajaj Finserv Bank Personal Loan
- Free doorstep service
- Dedicated Relationship Manager
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Overview - Bajaj Finserv Personal Loan
Bajaj Finserv, a part of Bajaj Holdings and Investments limited, was formed in April 2007, following its demerger from Bajaj Auto Limited to expand its financial services. This helped the company to run an independent business of lending, insurance and wealth advisory further making it India’s leading non-banking financial company. The company employs over 20,000 employees across over 1400 locations nationwide. The company offers ample of services which includes, home loan, personal loan, credit cards, Mutual funds, fixed deposits and various insurance schemes. Along with financial services, Bajaj Finserv is also active in wind-generation. In the year 2014, Bajaj Finserv was ranked as number 119 among The Economic Times 500.
About Bajaj Finserv Personal Loan
Bajaj Finserv personal loan comes with higher loan amount at an affordable interest rate. The company offers customised funds several purposes like wedding, travelling, home improvement or renovation, medical emergency and higher education. Personal loan with Bajaj Finserv provides its customers with speedy approval, minimal documentation and easy disbursement of loans. It also offers a scheme named Flexi Personal Loan. In this scheme a borrower can pre pay and drawdown money with a drop-line facility. This process is a self service process without any hassle. This also does not require any collateral unlike home loans .
Why Choose Bajaj Finserv Personal Loan
There are many reasons why an applicant should choose Bajaj Finserv over other companies or banks.
- The NBFC offers loan amount up to Rs 25 lakhs to fulfil all your immediate needs of funds.
- Borrower can choose up to 6 times part prepayment.
- Another exciting reason to choose Bajaj Finserv is that it does not levy any foreclosure charges or pre payment penalty.
- The company also offer multiple products to help the customers in reducing interest burden.
- It also provides schemes and discounts for employees of reputed companies
Features of Bajaj Finserv Personal Loan
The several features of Bajaj Finserv Personal Loan which makes its one of the favourite NBFCs are as follows:
- It is a multipurpose loan for it can be used to fund various purposes like wedding, vacation, medical emergency etc.
- The loan is sanctioned to all the salaried applicants.
- The loan amount ranges from 1 lakh to 25 lakhs depending upon the income and the internal criteria.
- The company also provides instant online approval of loans. Sometimes loan gets approved within 5 minutes.
- Bajaj Finserv personal loan benefits its customers by provides customized offer for corporate employees and women professionals.
- It also provides insurance options for your personal loan at attractive premium.
- It offers flexible and special interest rates for women borrowers.
- Bajaj Finserv also allow its customers to access all the loan related information like EMI payable, interest certificate via online account access.
- Customers can avail attractive interest rates starting from as low as 12% per annum.
- Funds get disbursed in the account within 24 hours of the loan approval.
- Existing customers of the company gets the benefit of pre-approved offers on personal loan.
Eligibility Criteria of Bajaj Finserv Personal Loan
Bajaj Finserv personal loan eligibility depends on some factors like age, income etc. An applicant need to fulfil the below mentioned criteria to be eligible for a personal loan with Bajaj Finserv:
- An applicant must be salaried employee working with a reputed public or private company.
- Minimum age to apply for the loan is 25 years.
- Maximum age to apply is 55 years.
- Applicant should be a citizen of India.
- Minimum net monthly income of an applicant to be eligible for the loan is between Rs. 30,000 to Rs. 40,000.
Documentation Required for Bajaj Finserv Personal Loan
Bajaj Finserv will ask for a handful of documents at the time of loan processing. These documents are stated below:
- Application form duly signed with colour passport size photographs.
- Identity proof : Passport/Voters ID card/Driving License/PAN Card
- Address proof : Passport/Driving License/Ration card/Latest Mobile Bill/Letter from Employer.
- Age proof : Passport/PAN card/Driving license/Birth certificate.
- Employment proof : Employee ID card.
- Bank statements : last 3 months salary account bank statement
- Salary slips of last 2 months and Form 16.
Interest Rates of Bajaj Finserv Personal Loan
Bajaj Finserv Personal loan interest rates depends on applicants profile, however they charge an interest rates starting from 12%.
2.25%-3% of the loan amount
Fees and Service Charges
Not only the interest rates but customer will have to pay certain other charges. Bajaj Finserv personal loan charges applicable are as follows:
2.25%-3% of the loan amount
EMI bounce charges
Rs. 1000 per bounce
2% per month
Secure fee (for online application only)
4% on the outstanding principal including taxes
Part prepayment charges
2% including applicable taxes
EMI Calculator of Bajaj Finserv Personal Loan
EMI calculator helps you in calculating your monthly installments and let you plan your repayment accordingly. Bajaj Finserv personal loan EMI calculator works on three factors which include loan amount, loan tenure, and the rate of interest. An applicant only needs to fill in the required fields asking the loan amount, interest rate and tenure. The calculator will tell you an estimated loan EMI per month, total interest payable on your entire loan and total of payments (Interest+principle). It will also show a break-up of total payment via a pie chart.
Why MyMudra Financial ?There are many reasons why one should choose MyMudra financial to apply for a Bajaj Finserv personal loan:
- All the financial requirements and services provided by MyMudra financial are available free of cost for the customers and one can avail them without any hesitation.
- More than 50+ banks and NBFCs are available on the customer screen from which one can choose according to their convenience.
- We provide you with the most dedicated personnel to take care of all your requirements and provide you with appropriate advice.
- There are about 1000 products that we offer along with the right mix of finance.
- We offer the best rate of interest, gift vouchers and all the other benefits and cash backs for their inter interest.
- We offer financial services both online and offline and also offer offline counselling.
- We provide end to end services i.e. we assist you right from the time you apply to the time the deal is finally done and delivered.
- We offer services all across the country.
FAQ Bajaj Finserv Personal Loan
- Does Bajaj Finserv levy any foreclosure and prepayment charges?
Yes, the company charges 4% foreclosure fees and 2% part prepayment charges.
- What is the minimum and maximum loan amount?
Customer can choose any loan amount ranging from Rs 1 lakh to Rs 25 lakh. However the sanctioned amount will depend on your income and other criteria.
- How can you repay the loan?
One can repay the loan in EMIs through post-dated cheques or ECS facility.
- How can apply for the loan?
A salaried employee working with a reputed company and earning minimum income of Rs 30,000 to 40,000 per month can apply for a loan with Bajaj Finserv.
- How secure is my information?
Your information is completely secure with us. The process is a completely secured one with high-end security systems.
- Are there any pre-approved offers on personal loans for existing customers
Yes, all existing customer of Bajaj Finserv are eligible for pre-approved offers on personal loans.
- Can I make part prepayment before 1ST EMI?
No, part prepayments cannot be made before 1st EMI.
- How much time does it takes to get the funds disbursed?
The funds are generally disbursed within 72 hours after the loan has been approved.
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