Documents Required for Bajaj Finserv Personal Loan

The company will definitely ask for documents to support all your claims of income and eligibility. These documents are to be submitted along with the application for the Personal loan.


Personal Loan by Bajaj Finserv Bank

Personal loans are financial service products suited for individuals who wish to avail a high amount of funds for any purpose. Personal loans provide the borrower with the required amount under certain conditions and the amount is then supposed to be repaid in the form of EMI's. The repayment is done with a little added interest. This makes the product helpful for both the lender and borrower.

Bajaj Finserv provides Personal loan products for individuals who may need urgent funds for purposes like medical emergency, wedding expenses, business expenses etc. Bajaj Finserv offers easy documentation and application process with minimal turnaround time. Bajaj Finserv offers a high amount of Personal loan at competitive Interest rates.

Also Check: CIBIL Score Required for Personal Loan

Features and Eligibility of Bajaj Finserv Personal loan

The first step to get your application approved to make sure that you satisfy the eligibility criteria mentioned by the bank. The bank specified the eligibility criteria based on age, income, tenure etc. Along with the eligibility, it is important to verify that the loan product you are applying for is as per your requirements. For this, it is prudent to go through all the features of the Personal loan product. Below mentioned are the features and eligibility of the Personal loan by Bajaj Finserv.

NationalityLoan is available for Indian Citizens
EmploymentLoan available for salaried employees working in either government offices, private institutions, MNC's etc.
Minimum income requiredThe minimum income of the applicant should be as per the income specified by Bajaj Finserv, depending on the city of residence.
AgeThe age of the applicant should be between 23-55 years of age.
Credit scoreThe credit score of the applicant should be 750 or above to be eligible for the Personal loan.
PurposePersonal loans can be availed for any kind of fund requirement of the applicant. The amount can be utilised for debt consolidation, higher education, medical emergencies etc.
Maximum amountBajaj Finserv provides a high amount of Personal loan so that the borrowers are able to avail as much funding as they need. Up to 25 lakhs can be availed as Personal loan.
Processing feesBajaj Finserv charges a processing fee of up to 4.13% on loan amount for Personal loan.
Interest rateThe rate of Interest for Bajaj Finserv Personal loan starts from 12.99%.
Loan tenureBajaj Finserv offers a high amount of Personal loan. To make it convenient for individuals to pay off this large amount of loan, the company also offers a high tenure of up to 60 months.
SecurityBajaj Finserv does not require any collateral or guarantor to avail the Personal loan.
Pre-paymentBajaj Finserv allows up to 6 part pre-payments at any interval of your choice. Up to 4% on remaining loan amount can be charged for pre-payment.
Lowest EMILowest EMI that can be availed is INR 2,275 per lakh.
Flexi PayFlexi Loan scheme available where a pre-approved loan credit is provided to the applicant. The applicant is then free to avail as much as they want repeatedly from the loan amount. The repayment can also be done as their convenience.

Documents required for Bajaj Finserv Personal Loan

The company will definitely ask for documents to support all your claims of income and eligibility. These documents are to be submitted along with the application for the Personal loan. Most of the documents are mandatory and there are chances that your loan will not be approved if you are unable to provide them. Different set of documents can be required for different kind of applicants. Although there are several documents which are mandatory for all. Please find them all listed below.

Must have document categories

1. Documents concerning the applicant:

These are the general documents required from every kind of applicant as a proof of their identity and residence.

  • Filled application form with photographs attached.
  • Proof of Identity(Any of the following):

PAN card, Aadhaar Card, Passport, Driver's License, Voter ID Card

  • Proof of Residence (Any of the following): Passport, Driving License, Aadhaar, Utility Bill (e.g. Telephone Bill, Electricity Bill, Water Bill Gas Bill)

2. Account Statement:

The account statement is required by the bank as proof of your income and your spending habits. It will be used to determine how much do you spend and save on an average monthly.

  • Last 6 months' Bank Account Statements for all accounts.
  • Loan account statement of last 1 year (in case of existence of prior loan).

Documents required by salaried individuals

Salaried individuals will have to provide proof of salary credited to them every month as claimed and will also have to provide their tax filings and papers. Below are the documents usually asked for.

  • Last 3 months' Salary Slip.
  • Copy of IT returns of the last 2 years or copy of Form-16 for last 2 years.
  • Last 6 months account statement showing salary deposited into account.

Importance of a bank statement/passbook for a home loan

The company usually asks for at least 6 months worth of bank account statement. The bank statement will showcase the salary you receive monthly. The company will need your statement to ascertain if you are truthful about your income and expenditure. Moreover, the bank can use your statement to analyse your spending habits and how much amount of money you are able to save on an average. This will help them verify if you will be able to handle the EMI's or not. Your statement might also contain other income sources which will have to be declared with the company as well. This why the company will ask for a bank account statement for Personal loan approval.

Factors affecting Bajaj Finserv Personal loan eligibility

The first step to availing the Personal loan is to make sure that you satisfy the eligibility criteria mentioned by the bank. The bank specifies the eligibility based on age, loan amount, income, tenure etc. However, there are a lot more factors that can also impact your eligibility for the Personal loan. Please find some factors down below.

Credit score:

Your credit  score is an important measure of your creditworthiness. A credit score is calculated by taking into account all your prior credits and your behaviour towards them. This denotes how timely your credit payments were, how many unpaid bills you have, how much income you are left with to satisfy the credits etc. A credit score is important to the lender so they can determine if you are a creditworthy individual or not. That is why having a high credit score is very important when you apply for a Personal loan. Bajaj Finserv facilitates loan from many different vendors and hence, their requirement of credit score may vary between different applications. Bajaj Finserv requires a CIBIL score of 750 or above to be eligible for the Personal loan.


Along with the loan application, you will need to provide the company with a certain set of documents that can validate the claims you make in your application. The company requires documentation such as identity proof, residential proof, income proof etc to make sure that your eligibility is correct as per the details filled out in your application. The above-stated documents are mandatory and the company will simply be unable to approve your Personal loan if you don?t provide them. Bajaj Finserv asks for the documents to be uploaded to the website along with the application form. This saves on a lot of hassles for the applicant.


A lot of your eligibility is dependent on your income. When you apply for a loan with Bajaj Finserv through their website, the website provides you with an option of entering how much EMI you are comfortable with providing and also the tenure. The website will then showcase the amount of loan you can avail. The EMI amount will depend on your monthly income. Moreover, the EMI has to be covered within your disposable income, I.e, the income that will be remaining once you satisfy your liabilities. The higher your income, the higher your possible disposable income and the higher your eligibility and ability to repay the loan.

How to apply for a Personal loan with Bajaj Finserv through MyMoneyMantra

MyMoneyMantra makes it easy to apply for a Personal loan by providing professional guidance as to the company's features and eligibility. MyMoneyMantra guides you through each step of the application process by simplifying it. To apply for the Personal loan through MyMoneyMantra, follow the below steps.

  • Visit the MyMoneyMantra website and search for the Personal loan option under the Menu.
  • Once you click on Personal loan, the tab opens up containing details and features of a Personal loan below.
  • The page will have certain input fields where you need to mention your personal details such as name, email address, address, phone number etc.
  • Then, mention your occupation, employment details, monthly income etc.
  • Now, enter the loan amount you wish to apply for along with the some meow details such as purpose, tenure you would like to again etc.
  • Once MyMoneyMantra has these details, we will send you a list of product packages that we find most suitable for your needs.
  • MyMoneyMantra provides a comparison between the features of all and helps you to decide between the products.
  • Once you finalize the product, MyMoneyMantra will ask you to keep the documents handy for a quick verification.
  • Once this is done, the application can be submitted to the company.

Benefits of applying for a home loan through MyMoneyMantra

It is natural to be confused while deciding which Personal loan product to go for. With the amount of banks, NBFC's and financial institutions offering the loan services, it can be daunting to determine the ideal one for your needs. Fortunately, MyMoneyMantra helps you through this confusion and ensures that you only get the best product. Below are the benefits of applying for a Personal loan through MyMoneyMantra.

  • Get support from a team of expert financial advisors as to the benefits of the different kinds of loan products.
  • Get a better understanding of each step of the application process as the process is broken down to simplify it.
  • Avail the support of MyMoneyMantra right up to the disbursal process at no extra charge.
  • Avail 24x7 support for any queries you might have during the application process.
  • Get an accurate comparison between the charges and Interest rates of different institutions so you can choose the best one for your needs.
  • Avail all these services through the comfort of your own house.

Additional Reading: CIBIL Score Required for Home Loan

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Documents required for Bajaj Finserv Personal Loan FAQs

What documents can I provide as a self-employed applicant for the Personal loan by Bajaj Finserv?


Bajaj Finserv offers its Personal loan only to salaried employees working in private companies, MNC's, government offices etc. As a self-employed individual, you might not be eligible for the Personal loan. However, if you wish to avail the loan from Bajaj Finserv, consider applying with an applicant who is a salaried employee. This will make your application eligible.

Why do I need to provide a bank statement while applying for a Personal loan?


Personal loans by Bajaj Finserv are collateral-free. So, most of the eligibility relies on your income and credit score. To ensure that you are capable of paying off the loan, the company will need to thoroughly validate your income and expenses. Your bank account statement is the best indicator of this. The statement will contain the salary deposited into your account regularly. It will also showcase your expenses and liabilities. The company will utilise the statement to check how much of an income you are able to save on an average. Based on these, the company can figure your capability to pay off the EMI amount.

What are the types of Personal loan provided by Bajaj Finserv?


Bajaj Finserv provides both term loans and Flexi loan schemes for its customers. A term loan is where the entire loan amount is provided to the customer and the repayment is done in the form of EMI's until the end of the loan tenure. Flexi loans are where the applicant is provided with a pre-approved loan limit. The applicant is then free to avail as much credit as they want from the limit. The repayment for the same can be done as per their convenience.

How can I apply for the Personal loan through MyMoneyMantra?


MyMoneyMantra is a third party vendor that helps you to pick out the perfect loam product as per your requirement. Applying for a Personal loan through MyMoneyMantra is very simple. All you need to is to visit the MyMoneyMantra website and search for  Personal loan under the menu section. The Personal loan tab opens up. You can enter your personal details like name, phone number, email, income details such as salary, employer etc and the loan amount and type you wish to avail. MyMoneyMantra will provide you with a list of products suitable for your requirement. You can then choose the product that you feel is ideal as per your needs. MyMoneyMantra will also provide document verification support and will clear any queries right until the loan dismissal at no extra cost.

How is the Interest rate on my application calculated?


The Interest rate on your application depends on a variety of factors. The type of loan you apply for, your loan amount, income, eligibility, liabilities, credit score etc all have an impact on the Interest rate applicable on your loan. A high credit score means a lower rate of Interest, so ensure that you maintain a good credit score. Similarly, the higher your eligibility, the lower your Interest rate. Your tenure will also impact the Interest rate applicable on your Personal loan. A high tenure can increase the rate of Interest applicable on your loan as well.

How long does it take for a Personal loan to be disbursed through Bajaj Finserv?


Bajaj Finserv offers quick and hassle-free application process. Bajaj Finserv specialises in providing a quick documentation and verification process too. The loan approval can be provided in as less as 5 minutes. The loan is disbursed within 24 hours of the approval, provided the application and documentation are error-free and the company is assured of your eligibility.

How much Personal loan can I avail from Bajaj Finserv?


The loan amount you can avail from Bajaj Finserv depends on your income, eligibility, tenure and other criteria. The max amount of loan that can be availed from Bajaj Finserv is INR 25 lakh.