Bajaj Flexi Personal Loan

Apply for Bajaj Flexi Personal Loan online and pay the interest amount alone as the EMI for the first year. Get up to Rs. 25 Lakhs as loan amount at interest rate starting from 13% p.a. and flexible repayment tenure of up to 60 months. You have to pay the interest only on the amount withdrawn from the borrowed amount.


Bajaj Flexi Personal Loan Details

Loan amountUp to Rs. 25 Lakhs
Rate of interest13% p.a. onwards
Processing feeUp to 4% + applicable taxes
Tenure12 to 60 months
Part prepayment chargesNil
Foreclosure chargesUp to 4% of the principal outstanding + applicable taxes
Age20 to 60 years

Features of Bajaj Flexi Personal Loan

  • Both salaried persons and self-employed individuals can apply for Personal Loan.
  • It is like an overdraft account where you can withdraw and deposit multiple times within the approved limit.
  • Depending on your personal loan eligibility and credit rating, Bajaj Finserv Flexi Loans are available up to Rs. 25 Lakhs.
  • Bajaj Flexi Loan comes with a flexible repayment tenure ranging between 12 and 60 months.
  • Bajaj Flexi Loan offers the facility to withdraw money from the loan limit and transfer it directly to your bank account.
  • Bajaj Flexi Loan is unique as it allows you to pay the interest amount alone as EMI. Under such circumstances, you pay the principal amount as a lump sum payment at the end of the tenor. It enables you to reduce the EMI amount by nearly 45%.
  • Bajaj Finserv offers the services of an online portal, Experia, to enable hassle-free withdrawal and part-payment of funds.
  • Bajaj Finserv charges interest on a daily reducing balance basis, thereby ensuring that you pay interest for the amount you use.

Tip: Check cibil score for personal loan before applying.

Why Apply for Bajaj Flexi Personal Loan?

  • Bajaj Finserv provides one of the fastest loans in the Indian financial industry. Generally, the disbursal is within 24 hours of the loan approval.
  • Applying for a Bajaj Flexi Loan is an entirely online process that requires minimal documentation.
  • Additional documents are not necessary whenever you withdraw your funds multiple times. There are no charges for the same.
  • Enjoy the benefit of making part prepayments of the loan using your surplus funds on hand. You do not incur any additional charges for the same.
  • The processing of the Bajaj Flexi Loan is transparent and does not include any hidden charges.
  • Customers satisfying all eligibility criteria receive paperless approval within five minutes.
  • Pre-approved loan offers are also available to shorten the processing times. Existing customers can check out their pre-approved offers by sharing their contact details and OTP.

Additional Reading: Apply for Bajaj RBL Credit Card.

Bajaj Flexi Personal Loan EMI Calculation

Using the Personal Loan EMI Calculator available online on our website, you can easily calculate Bajaj Flexi Personal Loan EMI for free. The tool requires you to enter the loan amount, interest rate, and tenure to get instant results.

Apart from calculating the monthly EMI, the Calculator also shows the amortization schedule for loan repayment.

Here’s an illustration:

Personal loan amount required: Rs. 10 Lakhs

Applicable rate of interest: 13% p.a.

Tenure: 5 years

EMI to be paid each month till the tenure ends: Rs. 22,753

Total interest to be paid: Rs. 3,65,184

Total amount to be paid to the lender: Rs. 13,65,184

Amortization schedule of the above example:

YearOpening BalanceAmount Paid by Customer (EMI*12)Interest Paid During the YearPrincipal Paid During the YearClosing Balance
1Rs. 10,00,000Rs. 68,259Rs. 32,111Rs. 36,148Rs. 9,63,852
2Rs. 9,63,852Rs. 2,73,037Rs. 1,16,172Rs. 1,56,864Rs. 8,06,988
3Rs. 8,06,988Rs. 2,73,037Rs. 94,520Rs. 1,78,517Rs. 6,28,471
4Rs. 6,28,471Rs. 2,73,037Rs. 69,879Rs. 2,03,158Rs. 4,25,313
5Rs. 4,25,313Rs. 2,73,037Rs. 41,836Rs. 2,31,200Rs. 1,94,112
6Rs. 1,94,112Rs. 2,04,778Rs. 10,665Rs. 1,94,112Rs. 0

Comparison of Bajaj Flexi Personal Loan with Other Lenders

Name of LenderRate of Interest (per annum)Processing FeeMaximum Loan Limit
Bajaj Flexi13% onwardsUp to 4% + taxesRs. 25 Lakhs
Axis Bank10.25% - 21%Minimum Rs. 3,999Rs. 15 Lakhs
HDFC Bank10.25% - 21%Up to 2.50%Rs. 40 Lakhs
IDFC FIRST Bank10.49% - 18%Up to 3.5% + GSTRs. 40 Lakhs
Kotak Mahindra Bank10.25% - 24%Up to 2.5% + GSTRs. 20 Lakhs
ICICI Bank10.25% - 19%Up to 2.25%Rs. 25 Lakhs

Documents Required for Bajaj Flexi Personal Loan

The Personal Loan Documents that is mandatory to submit are:

  • KYC Documents for ID and address proof such as Aadhar Card, Voter's ID Card, Driving Licence, and so on.
  • PAN Card is mandatory. 
  • Employee ID Card is necessary for salaried individuals.
  • Payslips for the previous 2months.
  • Latest Form 16 provided by the employer.
  • Bank account statement for a minimum of last 3months evidencing the credit of salary into the account.

Bajaj Flexi Personal Loan Eligibility Criteria

  • Age of the applicant should be between 20 and 60 years.
  • The applicant must be employed with an MNC, public or private company.
  • The applicant must be an Indian citizen residing in specific cities.
  • Minimum monthly income should be Rs. 36,000 for Delhi, Mumbai, Pune and Bangalore.

Additional Info: Check all Details regarding Personal Loan for Women also.

Bajaj Flexi Personal Loan Charges

Type of ChargesAmount 
Processing FeesUp to 4% of the loan amount + GST
Instalment Bounce ChargesRs. 600 to Rs. 1,200 per instance
Penal Interest2% to 4% per month + taxes
Document or Statement ChargesE-statements, Letters, and Certificates available free of cost at the Customer Portal - Experia
If obtained from the branchRs. 50 per statement plus taxes
Foreclosure Charges4% + taxes on the principal outstanding amount on the date of the foreclosure
Part Prepayment ChargesNil
Annual Maintenance Charges0.25% of the total withdrawable amount irrespective of utilisation + taxes 
Mandate Rejection Service Charges Rs. 450

How to Apply for Bajaj Flexi Personal Loan?

  • Visit MyMoneyMantra and access the online application form under the Personal Loan tab.
  • Fill in the details and submit it accordingly.
  • Applicants should specify the loan amount and tenure to get instant approval.
  • Our loan representative will contact the applicant to collect the necessary documents.
  • The money will be credited to the loan account after approval.
  • The customer can withdraw the funds depending on his/her requirements and transfer it to the bank account.
  • Alternatively, applicants can SMS "SOL" to 9773633633 or drop a missed call to 9211175555.

Additional Info: Check Bajaj Finance Overdraft Loan facility.

Bajaj Flexi Personal Loan Customer Care

You can contact Bajaj Finserv customer care regarding any queries or complaints regarding Bajaj Flexi Loan through any of the following ways:

  • SMS “SOL” to 9773633633.
  • Give a missed call on 9211175555.
  • Visit any of the Bajaj Finserv branches using the branch locator. 
  • Existing customers can send SMS to +91 9227564444.

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Bajaj Flexi Personal Loan FAQs

What is the USP of Bajaj Flexi Loan?


The USP of Bajaj Flexi Loan is that it allows the borrower to withdraw funds depending on the requirements. It also allows you to prepay surplus funds into the account, thereby saving considerably on the interest factor. You also get the benefit of paying the interest amount as EMI and a lump sum payment of the principal amount at the end of the tenure.

How does Bajaj Finserv decide the drawing power on the Bajaj Flexi Loan?


Bajaj Finserv draws the usual repayment schedule as it does for any personal loan facility. Drawing power reduces by the amount of EMI every month. The objective is to ensure that the loan gets liquidated at the end of the loan tenure.

How do you withdraw the amount from the Bajaj Finserv Flexi Loan?


Customers can use the Bajaj Finserv online portal Experia to withdraw funds whenever required. They can use the same platform to deposit surplus funds.

How do you save on the interest component in the Bajaj Flexi Loan?


In a Bajaj Flexi Loan, the borrower withdraws according to his/her requirements. The borrower can also deposit surplus funds into the account at any time. Bajaj Finserv calculates interest on the daily balance method. Therefore, the interest component will be low when compared to the regular personal loan. Hence, you save on the overall interest payment. You pay interest for the amount you use.

Is there any CIBIL score requirement for this facility?


Yes, the Bajaj Flexi Loan is a personal loan. Hence, the conditions that affect the eligibility for a personal loan will do so for this facility, as well. Bajaj Finserv Personal Loan stipulates that the applicants should have an excellent CIBIL score. Any score of 750 and above is excellent.

Is there any provision of offering collateral for the Bajaj Finserv Flexi Loan?


The Bajaj Flexi Loan is an unsecured facility. There is no necessity to provide any collateral. Bajaj Finserv offers personal loans up to Rs. 25 Lakhs without collateral, depending on the income and credit rating of the borrower.

Do I have to pay any charges for depositing the surplus funds into the account and withdrawing them when necessary?


No, the Bajaj Flexi Loan offers this advantage of allowing customers to withdraw funds whenever they need it. Hence, the company does not charge anything for providing this service. The customers have to pay the annual maintenance charges on loan.

Can you check the status of the Bajaj Flexi loan application?


Bajaj Finserv offers the facility of checking the status of the loan application online.

  • Visit the Bajaj Finserv website and proceed to "Check Your Loan Application Status."
  • Enter your Case ID or Loan ID as available on your loan application form.
  • Click on the "Submit" option.
  • You will get the loan status immediately.

What is the difference between a term loan and a flexi loan?


A Term Loan is a fixed loan amount approved by Bajaj Finserv at a fixed rate of interest. You avail the loan amount in lump sum that is repayable over a specific tenure.

A Flexi Loan is a loan limit sanctioned by Bajaj Finserv based on your eligibility and credit rating. You do not use the entire amount in a lump sum. You are free to withdraw the loan amount in instalments as and when you require the same. You can also deposit the surplus funds as a part-prepayment without incurring any charges. Thus, you end up saving on the interest component.