Bajaj Finserv Personal Loan Interest Rates
Interest Rate

Starting @ 12.50%

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Processing Fee

Upto 2%

Loan Tenure

1-5 years

Lowest EMI Per Lakh

₹ 2,250 for 5 years

Prepayment Charges

Nil charges for floating rates loans

check your eligibility

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Bajaj Finserv Personal Loan Interest Rates

Get the funds to meet your urgent requirements with the help of Bajaj Finserv. They provide funds to borrowers at attractive interest rates. The rate of interest on Personal Loan up to 25 Lakhs (for salaried) and 35 Lakhs (for self-employed) is minimal and attractive as well. Hence, it is possible to meet your financial requirements with ease. Bajaj Finserv offers collateral-free loans for flexible tenures along with minimum documentation within 24 hours after the approval.

Bajaj Finserv does not levy any hidden charges or extra fees. The entire process of a Personal Loan at Bajaj Finserv is hassle-free and systematic. Here are the details on its Personal Loans interest rates and charges:

Benefits of taking a Personal Loan from Bajaj Finserv

  • You can get your loan approved instantly
  • You get a free EMI Network Card
  • Enjoy their loan servicing facility online
  • Free payment along with overdraft or OD facility
  • Get special schemes and discounts if you are an employee of a large reputed company.

Bajaj EMI Network Card

By opting for a Personal Loan from Bajaj Finserv, you are eligible for a free EMI network Card. This card enables pre-existing Personal Loan customers to buy the desired products on easy EMIs. This card is a pre-approved loan offer. The EMI Network Card is extremely easy to use all you need to do is just swipe the card at the partner stores and complete your purchase instantly with easy EMIs.

Bajaj Finserv Personal Loan Interest Rates and Other Charges

Fees Charges Applicable

Interest Rates

12.99% onwards

Processing Fees

Up to 3.99% of the sanctioned loan amount

Bounce Charges

600 - 1,200 Per bounce (taxes included)

Penal Interest

2% per month + applicable taxes

Overdue Charges

200 + applicable taxes

Secure Fee for Online Approvals

4,499

Charges for Outstation Collection

65 + applicable taxes

Charges for Loan Statement

50

Part-prepayment Charges (after payment of at least 1 EMI)

2% + applicable taxes

Foreclosure Charges (after payment of at least 1 EMI)

4% of principal outstanding + applicable taxes

Annual Maintenance Charges

Hybrid Flexi Loan

Flexi Term Loan

0.25% on the sanctioned loan amount + taxes for 2 years

0.25% on reduced assigned limit + taxes for remaining loan

0.25% on reduced assigned limit + applicable taxes

Purpose of Loan: Bajaj Finserv offers a loan to meet any kind of personal and urgent requirements such as medical emergency, vacation, education, ravel or any other personal meet. The speculative use of the Personal Loan is not allowed.

Key Features:

  • The age group of borrowers ranges from 23 years to 58 years.

  • The loan is offered to a salaried person as well as the self-employed individual.

  • The loan amount that can be availed is minimum 1 Lakh to 25 Lakhs (for salaried) and 35 Lakhs (for self-employed).

  • The Loan tenure is 24 months to 60 months.
  • The lowest EMI offered is of 2,275 per Lakh.
  • The rate of interest at Bajaj Finserv ranges from 12.99% to 15.50%.

Special Schemes: Bajaj Finserv offers customised interest rates on Personal Loan especially for the borrowers working with reputed companies, government employees, banks and any other organization.

Some of the special Personal Loan schemes of Bajaj Finance are:

  • Flexi Loan
  • Medical Emergency Loan
  • Lifestyle Finance Personal Loan
  • Durable Finance Personal Loan
  • Finance Loan For Digital Products
  • PLOC Loan

Bajaj Finance Personal Loan Top Up

Top up loans on Personal Loan enable ones to get an additional loan from the existing bank on the current loan or during the bank transfer of the loan to the new bank. You can also get a top up on the Personal Loan from Bajaj Finserv.

If you have a good track record with regular payment on the existing Personal Loan then the interest rates are generally similar on the existing Personal Loan and top up loans.

Factors Affecting Bajaj Finserv Personal Loan Interest Rate

Bajaj Finserv offers the best personal interest rates subject to the assessment and analysis of your loan amount, company you work with, salary and loan tenure.

The following factors affect the Personal Loan rate of interest offered by Bajaj Finserv:

Loan Amount: A Loan amount is the amount borrowed from the bank. Most of the times banks offer lower interest rates for the higher loan amount. Bajaj Finserv offers loan of the amount ranging from 1 Lakh and 25 Lakhs (for salaried) and 35 Lakhs (for self-employed).

Salary: The interest rate of the bank depends on the net monthly income of the borrower. The income of an individual defines one's capacity to repay the loan. The high salaried individuals are generally offered loan on lower interest rates.

Relationship with the Bank: Individuals those who manage their account well and have a good track record of paying EMI regularly without any delays get the benefits of lower interest rates on loans from Bajaj Finserv. They offer good rates and low charges to the individuals who already have an existing and active account with the bank.

Loan Tenure: The tenure of the Personal Loan is short as this loan is to meet the urgent requirement of finance. The tenure generally ranges from 24 months to 60 months.

Employer Category: Bajaj Finserv ranks company from a high to low categories depending upon their reputation, existing relationship with the bank, size, market goodwill etc. Base on these categories we have made an internal list of companies. Employees belonging to the higher company category get attractive discounts and other interest rate benefits on loans.

Repayment Capacity: A thorough check of the borrower's capacity to repay the loan is done from the team of Bajaj Finserv before approving the loan. Verification of the capacity of the borrower is done by gauging information of the credit score. If a previous loan is taken, CIBIL will be taken into account while considering the loan application.

Government employees, defence, and armed forces are also offered loan from Bajaj Finserv. The rate of interest on Personal Loan varies for government employees, salaried individuals, and defense personnel.

Bajaj Finance Personal Loan Charges

Before coming to a decision to borrow a loan from a particular bank one should always do a detailed and analytical comparison of interest rates as well as other charges levied by the bank. This includes:

  • Part-prepayment Charges: Bajaj Finance allows part prepayment on the loan after 1 month at the rate of 2% plus applicable taxes.

  • Pre-closure Charges:The pre-closure of the Personal Loan is allowed after 1st EMI at the rate of 4% of the outstanding loan amount plus applicable taxes.

  • Processing Fee:The processing fees at Bajaj Finserv can go up to 3.99% of the sanctioned loan amount plus applicable taxes. The processing fee is non-refundable.

  • Other Charges: After the loan application is sanctioned Bajaj Finserv will give you the comprehensive list of other charges applicable on the Personal Loan account. Some of these charges are interest charged on late payment of EMI, cheque bounce charges, loan cancellation charges after sanction, and so on.

Bajaj Finserv Personal Loan Products

Bajaj Finserv offers special products for our esteemed customer segments meant to meet their loan requirements with ease.

Some of the prevalent products with the basic features are as follows:

Flexi Loan

Flexi Loan facility is similar to an OD. In this, the customers can withdraw, deposit, and pre-pay their loan as per the convenience.

  • Bajaj Flexi Personal Loan is available to all existing customers.

  • This loan does not have any kind of charges on part pre-payment.

  • This loan allows the borrower to pay interest only on the amount used. It is similar to an OD with flexible withdraw and deposit options.

  • Any salaried applicant with a minimum age of 23 years, working with a MNC, public, or private company can apply for this loan. 

Personal Loan for Higher Education

This Personal Loan helps you to fund Higher Education of your loved ones.

  • You can avail the facility of a Flexi Interest-only Loan for up to 25 Lakhs (for salaried) and 35 Lakhs (for self-employed) and pay up to 45% lower EMI.

  • Get instant loan approval
  • Get funds disbursed into your account within 24 hours after verification.

 Personal Loan for Home Renovation

Renovate your home with Home Renovation Loan from Bajaj Finserv.

  • Get loan approval within 5 minutes after submitting your loan application.

  • Borrow when you feel the need, and prepay when you can with Flexi Personal Loan facility.

  • The loan can be availed with just a few documents with your loan application.

Personal Loan for Wedding

Get loan amount of up to 25 Lakhs to plan your dream wedding with Bajaj Finsev Marriage Loan.

  • Get loan approval within 5 minutes after application submission.

  • Choose flexible loan tenure from 24 to 60 months and repay your loan conveniently.

  • Manage all the costs of your wedding like venue booking, catering, photography, shopping, and so on.

Personal Loan for Travel

Get Bajaj Finserv Travel Loan and plan an exotic vacation to anywhere in the world with your family loved ones.

  • Get a Personal Loan for up to 25 Lakhs.
  • Manage all your travel expenses including ticket booking, hotel accommodation and so on.

  • Get funds into your account with 24 hours of the verification process.

Bajaj Finance Personal Loan: How to Apply

It is very easy to get a Personal Loan from Bajaj Finserv. You can contact them online. They have partnered with some of the leading and most renowned banks in India such as HDFC, Axis Bank, SBI, Citi Bank, and so on to make sure your loan application is processed online at the earliest.

Alternatively, you can apply through MyMoneyMantra and our representative will get in touch with you to take the loan procedure forward. You can also take the benefit of free loan assistance services of MyMoneyMantra loan and make sure your loan process is instant and easy.

A direct comparison of Bajaj Finserv interest rates, processing fees, and other charges using MyMoneyMantra's comparison tool will help you determine the best loan option. Once you apply for the loan online you can easily check the status of your loan application under the customer account section at MyMoneyMantra.

Documents Required

For salaried employees

  • KYC documents
  • Employee Identity Card
  • Last 2 months salary slips
  • Last 3 months bank account statement of your salary account

  • Filled up the loan application form

Bajaj Finserv Personal Loan FAQs

Q1. How much time does it take for Bajaj Finserv to process approval of my Personal Loan?

Ans. It takes banks almost 15 days to reach a conclusion regarding loan application and convey the same to the applicants. However, if everything is fine, you can get instant approval from Bajaj Finserv for your Personal Loan in as little as 5 minutes after successful submission of your loan application and documents.

Q2. Why should I choose Bajaj Finserv to take Personal Loan?

Ans. At Bajaj Finserv you get a loan at a rate of interest of 12.99%. If you are getting a higher rate than this, it is best to opt for Bajaj Finserv.

Q3. What is the interest on Personal Loan charged by Bajaj Finserv?

Ans. At Bajaj Finserv Personal Loan is given at an interest rate starting from 12.99% and can go up to 15.50%. However, the same is low for customers having their salary account with Bajaj Finserv as compared to other customers.

Q4. What are the minimum and maximum tenure of Personal Loan in Bajaj Finserv?

Ans. The minimum tenure to repay the Personal Loan at Bajaj Finserv is 24 months and the maximum tenure to repay the Personal Loan at Bajaj Finserv is 60 months.

Q5. What is the amount of Personal Loan that one can borrow from Bajaj Finserv?

Ans. Bajaj Finserv offers a minimum loan of 1 Lakh to a maximum loan of 25 Lakhs.

Q6. What is the processing fee for a Personal Loan at Bajaj Finserv?

Ans. Bajaj Finserv charges a Personal Loan processing fee can go up to 3.99% of the sanctioned loan amount.

Q7. Does my age matter as an eligibility factor for getting a Personal Loan at Bajaj Finserv?

Ans. Yes, age is an important eligibility factor to get a Personal Loan. Your age should be between 23 to 58 years to get a Personal Loan from Bajaj Finserv.

Q8. Are there any pre-payment charges on a Personal Loan from Bajaj Finserv?

Ans. Yes, Bajaj Finserv charges 2% + applicable taxes on part-prepayment and 2% + applicable taxes on full-prepayment of the loan. The prepayment is allowed only after the payment of 1 EMI.

Q9. Is it possible to get a Personal Loan on the combined income of my spouse and me?

Ans. You can combine your income with the income of your spouse by applying together for a loan. This will help you to combine your income and increase your loan eligibility and loan amount as well. 

Bajaj Finserv Personal Loan News

2018-07-20:Bajaj Finserv Profit rises to 41% in Q1

Bajaj Finserv Limited (BFL) reported a 41% rise in profits to 826 Crores as compared to Q1 last year. Healthy loan growth and stable asset quality are where the profits were credited to in the quarter ended June. The total income rose to 16% to 8771 Crores in Q1 from 7536 crore last year.

2018-06-20: Bajaj Finserv offers a pre-approved Personal Loan to customers

Bajaj Finserv offers a pre-approved Personal Loan to its existing customer without much documentation. The existing customer of Bajaj Finserv can log on to the website, enter their personal details and check their pre-approved loan. The eligible customer can get a Personal Loan of up to 25 Lakhs.

2018-05-17: Bajaj Finance sees a rise in profit

The profits at Bajaj Finance Ltd. rose 61 percent to soar at 721 Crores when compared to the same quarter last year. There was an increase in the net interest income as well, which rose by 40% to stand at 2,365 Crores. The profits were used to boost healthy loan growth as well as to maintain the company's stable asset quality in the quarter ending March.

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