Bajaj Finserv Personal Loan

Please Select Your Gender
Please Select your Residence Type
Please Enter City of Residence
Please Enter Office City
Please select your maritial status
Please Enter Your Highest Education Qualification

Please accept terms of use and privacy policy

About Bajaj Finserv

Bajaj Finserv Limited is the financial services business arm of the Bajaj Group.

Bajaj Finserv caters to Lending, Insurance, and Wealth Advisory services through its subsidiaries-Bajaj Finance Limited (BFL), Bajaj Finserv Direct Ltd, Bajaj Allianz Life Insurance Company Limited (BALIC) and Bajaj Allianz General Insurance Company Limited (BALIC).

BFL is listed on the Bombay Stock Exchange(BSE) and the National Stock Exchange (NSE) as a key financial business entity. BFL's subsidiary Bajaj Housing Finance Limited (BHFL) is registered with National Housing Bank as a Housing Finance Company and serves mortgage business. Both BFL and BHFL cater to retail and commercial lending business.

BAGIC and BALIC are joint ventures with Allianz SE which is a leading insurer in the world. Undoubtedly, Bajaj Finserv is one of the leading non-banking institutions in the country. The company is committed to offer affordable and sustainable product lines across consumer, commercial and SME finance.

Interest Rates   13% 
Loan Amount Upto 25 Lakhs
Tenure 1 Year to 5 Years
Loan Processing Fee Up to 4.13%% of the Loan amount
EMI Bounce Charges  600+ GST
Prepayment Charges 2% on principal outstanding + GST
EMI  2275 Per Lakh

Why Bajaj Finserv Personal Loan?

If you are looking for fast credit with minimum hassles and easy repayment facility, Bajaj Finserv Personal Loan is the one you need. Bajaj Finserv boasts of instant loan approval with guaranteed disbursal within 24 hours of approval. Whether you need quick cash for family, health, education, travel, business or more, Bajaj has a bouquet of unsecured personal loans up to 25 Lakhs for salaried individuals and up to 30 Lakhs for self-employed individuals. Besides, one can expect minimal documentation and flexible repayment tenor for 1 to 5 years.

The product line designed by Bajaj Finserv is well-diversified to serve people from all walks of life. Bajaj Finserv extends Personal Loans exclusively for Government Employees, Teachers, Women, Home Improvement, and Debt Consolidation. You must thus carefully choose the best loan for yourself and tap the maximum benefits offered by the lender.

Both salaried, as well as self-employed professionals between 25 to 58 years of age can find bespoke funding solutions with Bajaj Finserv. The rates of interest are attractive as loans are extended to people with minimum 27000 - 37000 salary per month, depending on the location of work.

Features and Benefits of Bajaj Finserv Personal Loan

Personal Loans are multi-purpose loans used by different people for different reasons such as a wedding, education, health, and investment planning. These are often used to finance urgent cash lapses in life and are readily available to people with good to moderate credit score at varied interest rates.

Bajaj Finserv Personal Loans are one of the fastest Unsecured Loans available from Non-Banking Institution in the country. Here are some of the peculiar features and benefits of utilizing Bajaj Finserv Personal Loans:

Flexi Interest Only Loan:
Bajaj Finserv Personal Loan can be borrowed as Flexi Interest Only Loan. Herein, your EMIs can be 45% lower every month as compared to Term Loan. You can choose to pay only interest component for EMIs and get 4 years moratorium to pay the principal amount. This exclusive feature of Bajaj Finserv makes Flexi Loan, one of the popular products among the borrowers.

Instant loans up to 25 - 30 lakhs

Those who have a stable income source can apply online and avail instant approval for loans up to 25 - 30 lakhs. Bajaj Finserv boasts of approving online loan applications within 5 minutes.

Disbursal within 24 hours

Bajaj Finserv offers India's fastest Personal Loan. They promise to ensure fastest disbursal in just 24 hours of loan approval.

Minimal documentation

Bajaj Finservactively offers pre-approved loans to borrowers with a good credit score of 750 points or above. You can apply for a loan and submit documents online in a few easy steps. You would require basic documents such as Aadhar for KYC, Income proof, identity proof, and employment proof for the verification.

Flexible Tenor

The loans are available for flexible tenors ranging from 12 months to 60 months. The borrowers are free to choose the duration on the pre-approved offers.

Unsecured Loan/No Collateral Required

Bajaj Finserv Personal Loans are unsecured loans, and you do not need any guarantor or collateral to obtain the approval.

Online Account Management

Bajaj Finserv provides online access to all account holders. You can log in to your account on its consumer portal Experia and enjoy the flexibility to use your account-- repay or withdraw, on the go and transfer it to your bank.

Free Part-Prepayment

There is no part-prepayment charge on your Flexi PersonalLoan. You can pay out whenever you have surplus funds and reduce your loan burden according to your financial health, and without any additional cost.

Bajaj Finserv Personal Loan - Interest Rates and Charges

Bajaj Finserv caters to fast, convenient and hasslefree loans for a variety of consumers. The products are diversified to serve different segments strategically. Make sure you go through current rates of interest and other loan charges so that you could avail transparent and stress-free loans.

Type of Fee, Charge Rate

Loan Interest Rate

13% onwards

Processing Fee

2.25% - 3.99% of amount

EMI Bounce Charge

600 to 1,200 per bounce

Penal/ Default Interest

2.38 % including taxes per month

Overdue Charge

200 + taxes

SecurityDeposit (for online approvals)


Outstation Collection Charge

65 + taxes

Foreclosure Charge

4% + taxes on principal outstanding


2% + taxes on amount paid

Annual Maintenance Charges

0.25% (for flexi interest loan)


Bajaj Finserv Personal Loan Processing Fees and Other Charges

For instant online loan approvals of up to 25 Lakhs, applicable charges are:

Types of Fees Charges Applicable

Interest Rates

13% on wards

Processing fees

2.25% - 3.99% of the principal loan amount

EMI bounce charges

600 to 1,200 per bounce

Penal interest

2.38 % default interest (+ taxes)every month

Overdue charges

200 (+ taxes)

Secure fee (for online approvals)


Outstation collection charges

65 (+ taxes)

Foreclosure Charges: A) Term Loan

4% on principal outstanding

B)Flexi Loans

*Within 1 month of loan disbursal- 4% + taxes on the sanctioned amount

*Subsequently, 4% + taxes on reduced assigned limit


Part Prepayment Charges

*2% + applicable taxes on part-payment (after 1 month)

*No charge for Flexi facility

Annual Maintenance Charges

*Flexi Interest-only Loan: 0.25% on sanctioned amount + taxes

*Flexi Term Loan: 0.25% on Flexi Term Loan + taxes


Types of Personal Loans Offered by Bajaj Finserv

Bajaj Finserv is a customer-centric Non-Banking institution. The entire financial products line by BFL is designed to extend fast credit at the most affordable cost to maximum borrowers in the country. Right from Pure Term to Flexi Repayment Facility, the ease and comfort offered by the BFL to its consumers are world-class.

Subject to basic loan eligibility, one can borrow loans up to 25-30 lakhs within 24 hours. The loan can be acquired as a Term Loan or Flexi Loan. Flexi loan is an innovative and first-of-its-kind product in the industry. It brings along ultimate ease of loan repayment.

Bajaj Personal Term Loan

A Bajaj Finserv Personal Loan can be borrowed as a Term Loan or a Flexi-interest loan. While the Term Loan is a regular Personal Loan, Flexi Loan offers a high degree of repayment flexibility.

The sanctioned loan amount for Term Loan is disbursed in full after the loan approval. So you become accountable for the whole amount from the very beginning, which is a typical feature of any loan.

So, interest is also charged on the full amount. The EMI of Personal Term Loan is calculated as:

Term Loan EMI = Interest + Principal

Bajaj Flexi Personal Loan

Bajaj Finserv Flexi Term Loan facility is flexi loan repayment facility offered by Bajaj Finserv. It is an add-on benefit for the premium BFL customers and can be blocked for non-adherence to the repayment discipline.

How Flexi Loan Works?

  • After the approval, you will get online access on Bajaj Finserv Portal- Experia.
  • Essentially a hybrid product, Flexi Term Personal Loan combines regular Term Loan and Written Down Value-Based Model for loan limit. This feature makes BFL Personal Loan extremely easy and hassle-free for the borrowers.
  • Interest is charged only on the amount drawn. You can save smartly on interest cost.

  • You can borrow just as much as you need directly from the portal. There is no charge or restriction placed.

  • Here, the sanctioned loan amount is assigned as a credit limit to your loan account.

  • The loan becomes zero at the end of the tenor as the Drawing Capacity reduces on a monthly basis.


  • Flexibility to pre-pay idle funds without any charge.

  • Access to drop line facility which makes you eligible to withdraw money any time during the tenor.

  • Save as much as 45 % on interest costs. Pay interest on the utilized amount.

  • Get access to exclusive online transaction platform "Experia" on Bajaj Finserv'sofficial portal. It enables drawdown and RTGS, i.e., you can pre-pay on the go through netbanking.

A borrower can choose the plan according to the eligibility.

Further, the personal loan categories are specifically designed to match the diverse professions and lifestyle of customers. Here is a quick rundown on different types of personal loans offered by Bajaj Finserv.

Personal Loans for Government Employees

As the name suggests, Personal Loans for Government Employees are tailored to meet the financial needs of people employed by the government as well as various Public Sector Units. The approval for loan up to 25 lakhs is instant for those working in government departments with basic personal loan eligibility criteria. The documentation is also minimal. So whether you are a Railway Employee or a PSU employee, expect quick loan disbursal within 24 hours of the approval.

Personal Loans for Teachers

Teaching is a noble profession, and by extending customized loans for Teachers, Bajaj Finserv has moved a step ahead of its competition. All educators can avail instant approval and fast disbursal of Bajaj Finserv Personal Loan for Teachers up to 25 lakh.

Personal Loans for Women

Bajaj has always endorsed equal opportunities for both the genders. Bajaj Finserv Personal Loans for Women is a significant step in the direction. This Personal Loan category is designed to serve women folks specifically. A woman with basic eligibility for Personal Loan can be assured of getting approved for a loan up to 25 lakh.

Personal Loans for Debt Consolidation

Loans are meant for financial freedom, and you must only borrow when you need the amount. Bajaj Finserv Personal Loans for Debt Consolidation is designed to relieve the borrowers of their financial limitations. Here, you can borrow a Personal Loan as a Consolidation Loan and manage the repayment by consolidating existing loans into one.

Personal Loans for Wedding

Bajaj Finserv Personal Loan for weddings are designed to fund the wedding expenses with ease. You can finance all marriage-related expenses with Bajaj FinservPersonal Loan up to 25 lakh. The approval is instant, and disbursal is assured within 24 hours of documentation verification. One can opt for Flexi Loan facility and choose flexible repayment and tenor ranging from 24 months to 60 months.

Personal Loans for Home Improvement

Likewise, one can apply for Personal Loans for Home Improvement and spruce up the décor and outlook of their abode with the help of unsecured personal loan up to 25 lakh from Bajaj Finserv. The approval of amount, however, is subject to eligibility for Personal Loan.

Personal Loan for Travel

As Personal Loans from Bajaj Finserv are almost instant, you can plan an exotic vacation without worrying about the cash gap. Depending on your eligibility and repayment capacity, you can apply for Bajaj Finserv Personal Loan up to 25 lakh for Travel online.

Personal Loan for Medical Emergency

Most of our financial decisions and investments revolve around the emergency. However one can never fully plan for unexpected situations. Herein, a Personal Loan from Bajaj Finserv can help you stay afloat and meet the prevailing shortfall of cash for medical treatment without any delay. You can apply for instant Personal Loan for Medical Emergency up to 25 lakh and avail fast credit according to your repayment capacity.

In all, you name it, and they have it. There is no restriction on the purpose of the loan. Both salaried and self-employed professionals can equally benefit from a pool of Bajaj Finserv's financial products.

Bajaj Finserv Flexi Personal Loan

Difference between Flexi Loan and Term Loan

Basis of Difference> Flexi Loan Term Loan

Loan Disbursement

The sanctioned loan is assigned as a credit limit. You can borrow only as much amount as you require.

The loan amount is disbursed directly to your loan account.

Fees and Charges

Interest is only chargeable on the utilized loan amount.

Interest is charged on the total amount disbursed.


In flexi loan, only interest amount can be paid as EMI and the principal amount can be paid at the end of the loan tenure.

The EMI is comprised of interest as well as the principal amount.


Bajaj Finserv Personal Loan Eligibility Criteria

To tap maximum benefits of Bajaj Finserv Personal Loan it is essential to learn about eligibility criteria and terms & conditions beforehand. Knowing about eligibility helps you avoid common reasons for rejections. MyMoneyMantra can help you understand the eligibility criteria for each product and prevent errors in filling the loan application. You can further use our Loan Eligibility Calculator to find out your repayment capacity for free.

Eligibility criteria for BFL Personal Loan are:

  • Only residing Indian citizens can apply.
  • The borrowers must be between 23 to 58 years of age.
  • They must be salaried, employed with an MNC, public or private company. A self-employed applicant must have proof of business continuity.
  • The minimum net salary criteria vary from state to state. Here is a quick rundown of the salary requirement for a personal loan:
Min Salary Per Month City of Work


Bangalore, Delhi, Pune, Mumbai, Hyderabad, Chennai, Coimbatore, Ghaziabad, Noida, Thane


Ahmedabad, Kolkata, Cochin, Jaipur, Nagpur


Jaipur, Chandigarh, Nagpur, Surat, Cochin


Goa, Bhubaneswar, Vizag, Nasik, Aurangabad, Jamnagar, Kolhapur, Raipur, Madurai, Mysore, Bhopal, Trichy, Trivandrum, Vapi, Vijayawada, Jodhpur, Calicut, Rajkot, Lucknow, Baroda, Indore


Documents Required for Bajaj Finserv Personal Loan

The documentation for BFL loans is minimal. Here is a list of 5 basic documents you would require to apply for Bajaj Finserv Loan:



Aadhar Card, PAN Card and DoBCertificate.

Address Proof

Passport, Driving License, Ration Card, latest mobile bill.

Employment Proof


Employee ID Card;

Proof of continuity of business.

Financial documents

Salary slips of the last two months;

ITR in case of self-employed

Salary Statements


Salary account statements for previous 3 months.


Other Products by Bajaj Finserv

Pre Approved Personal Loans

A pre-approved personal loan is the loan deal where the lender offers a loan to a credit-worthy individual. Most lenders offer such deals to their existing customers with a clean track record of repaying their dues.

You could be eligible for a pre-approved Personal Loan if:

  • You have a good credit score, say up to 750 CIBIL points.

  • You have been diligent in repayment of EMIs and credit card bills.

  • There is no bounce on EMI payments.

  • You have a steady source of monthly income.

  • You have maintained steady funds above the average monthly balance.

All these factors help pre-approve you for a personal loan. The bank would send the email to inform you about the offer. However, you would still need to let the lender verify the documents like Bank Statement, Pan Card, Salary Slip, and AadharCard.

Benefits of Pre Approved Loans:

  • When you are preapproved for a loan, you have better negotiation power on the amount, tenor and rate of interest.

  • The loan processing is fast.

  • The rate of interest on pre-approved offers is generally attractive.

Watch Out:

  • The offers are time-bound and would not be available round the year.

  • The offer can be revoked on failure to submit the necessary documents.

  • You must read the terms and conditions carefully. Know about all fees and/or charges associated with the offer before signing the dotted lines.

Why Apply for Bajaj Finserv Personal Loan on MyMoneyMantra?

MyMoneyMantra is India's leading financial products distributor with three decades of unmatchable experience in helping customers locate the best retail and commercial loans. We have built a step by step online platform to help customers search the most affordable loans for their needs.

We are committed to spread financial awareness and promote sustainable and responsible borrowing in the shortest turnaround time. We do not charge any fee from the borrowers and extend both online as well as offline customer support to each applicant irrespective of their ticket-size.

Apply for Bajaj Finserv Personal Loan on MyMoneyMantra to avail the fastest loan approval and the best rate of interest. We guide borrowers about their credit scores and ensure the best match loan. We do not charge any fees, i.e., our services come 100 % free to the customers.

The advice is obligation-free; you can take an informed decision according to your repayment capacity.

We assess your credit report and help you know about your loan eligibility.

We compare different loans for your individual query and shortlist the most affordable products. You can conveniently compare features like processing fee and charges and make a wise decision.

Owing to our healthy relations with 70+ lenders pan India, we ensure hassle-free documentation and quick turnaround time in loan approval.

How to Apply for Bajaj Finserv Personal Loan on MyMoneyMantra?

Applying for Bajaj Personal Loan on MyMoneyMantra is a cakewalk. It doesn't take more than 60 seconds to raise a loan query on MyMoneyMantra. All you need to do is visit the homepage and begin sharing your loan requirement.

Step 1: Fill data: Loan Category, Loan Amount, Name, Address, Phone Number, Loan Duration, Employment Type and Annual Income.

Step 2: One Time Password is created and sent to a mobile number shared in Step 1.

Step 3: Use the OTP and gain access to the loans according to your choice.

Step 4: We will shortlist best offers from 100+ banks and NBFCs (Non-Banking Financial Companies) according to your credit profile.

Step 5: Our Loan Executive will contact you and guide you about the eligibility and documents for the chosen Bank/NBFC.

Step 6: We will take your query further and connect the chosen lender with you. The lender would contact you for document verification.

Step 7: You can submit the documents and avail a transparent and hassle-free loan processing.

Bajaj Finserv Personal Loan Customer Care

There are multiple ways to access your account details and make a request to BFL.

Directly through Portal:

Bajaj Finserv has a unique customer portal called Experia wherein each beneficiary gains personal access to their account. They can view loan details, Statement of Accounts, interest certificates, no objection certificate, and welcome letter. Right from loan repayment to information update, each request can be processed conveniently on the portal.

Mobile App:

You can view loan account details and carry out transactions with Bajaj Finserv mobile app. SMS APP to +91 92275 64444 to download it.

Digital Wallet:

Bajaj Finserv Wallet works as a one-stop payment destination. It is your digital EMI card that offers exclusive offers and services.

Bajaj Finserv Experia App:

Using Experia App, you can access your account on the go. It lets you make repayments without any delay.


For queries or requests, directly write an email at Do not forget to share your loan account number/customer ID or registered mobile number along. It is suggested that you write emails from your registered email id to receive faster response.

All emails are responded within 2 working days.

  1. You can also make a direct query on 020 3957 5152.

  2. Toll-Free customer care number is: 1800-103-3535

  • Grievance Redressal: If you do not receive response or are not happy with the resolution to your query within ten working days, write to Bajaj Finserv Grievance Redressal at can also call on 020-71177266. Working Hours are 9:30 am to 5:30 pm, Monday to Friday.

  • Customer Experience Head: In case you do not hear from Bajaj Grievance Redressal Team within 3 working days, write to National Head Customer Experience at

For unattended complaints/disputes even after one month, customers can appeal to the officer-in-charge of the Regional Office of DNBS at RBI, at the following address:

Reserve Bank of India,
Regional Office, DNBS, fourth floor,
Opp. Mumbai Central Station,
Byculla, Mumbai - 400 008

Latest News

COVID19 Relief Moratorium: Bajaj Finserv Shares Easy Guidelines for Deferring EMIs

Extending Moratorium relief to its customers during COVID 19 outbreak, Bajaj Finserv Limited has also allowed its customers to opt for deferment of instalments for the months of March, April, and May 2020. Read More

Convert Cash Limit to Personal Loan with Bajaj Finserv-RBL SuperCard

Bajaj Finance and RBL Bank have collaborated to offer multi-feature credit cards to customers. These are supercards as they allow customers to convert "cash limit" into an interest-free Personal Loan for up to 90 days with a flat processing fee of 2.5%.

The facility which is available to the customers once in a financial year also allows the card bearer to choose repayments into 3 easy EMIs. Customers of all variants of Bajaj Finserv - RBL Bank SuperCards can avail this benefit. Other attractive features of the card include cash withdrawal from ATMs, interest-free credit for up to 50 days and flexibility to convert purchases over 3,000/- into EMIs.

Bajaj Finserv Ties up with Wochit

Bajaj Finserv has collaborated with Wochitto make video as the primary format of stimulation across its stakeholders. Wochin is a US-Israel based predictive video creation platform. The collaboration aims at bringing stories to life, at scale and speed, cutting down video turn-around time to less than 30 minutes and at 1/10th the cost.

Bajaj Finserv Rolls Out Exciting Offers and Lowest EMIs on All Products

Bajaj Finance Ltd has rolled out exciting offers on purchase of electronic products, fitness equipment, apparels and home appliances using Bajaj Finserv EMI network. Under the current offer, the customers can buy products at no cost EMI and with zero down-payment. All existing Bajaj Finserv EMI Card users are eligible for the offer.

Say Goodbye to Heavy EMIs with Flexi Hybrid Home Loan

Despite hike in repo rate by the RBI, your EMIs would not spike with Bajaj Finserv Hybrid Home Loan. Bajaj Finserv allows customers to pay only interest as EMI along with a 4 years Principal holiday. Also, after 4 years, you pay interest only on the amount utilized by you. This reduces EMIs considerably and helps you better manage finances at the same time.


What are the benefits of applying for a Bajaj Finserv personal loan online?

Bajaj Finserv is a customer-friendly finance company. You can apply for loans online from the convenience of your home or office. You need not visit the bank branch at any stage of the loan approval. The approval is instant within 5 minutes for eligible individuals. Right from verification of documents to loan disbursal, each step closes online. The process is entirely hassle-free.

How do I check the status of my loan application online?

To check the loan application status, call customer care on 1800-103-3535 and share your unique reference number (URN). You receive URN by email or SMS after submitting the loan application. After authentication, customer care executive will update you about the status of your loan application.

What to expect after my loan is approved? How do I get loan details?

After the approval of the loan, you will receive a welcome kit on your registered E-mail id and on Experia portal. The welcome kit includes Loan details; user id and password for logging in to the exclusive space on Experia portal; registered bank account details; unique virtual account number; mobile number; reference service guide. All the updates are recorded on your online account.

What are the benefits of having access to Experia?

Experia is the self-service account access tool exclusively proposed by Bajaj Finserv to its existing customers. It provides swift and hassle-free online transactions like drawdown and RTGS facility on the portal. So you can pre-pay your BFL loans through net banking without any hassle.

What is the difference between Flexi Personal loan and Term Loan?

Under Flexi Personal Loan, the amount is credited to your Experia account, and you can use the principal as per the requirement. You have complete flexibility to borrow, pre-pay or re-borrow the loan. There is a drop-line facility within the loan tenor without any additional documentation. You save highly on interest costs as interest is paid for utilised loan amount only. You can also enjoy 4 years moratorium on principal repayment.

On the other hand, the complete loan amount is disbursed to your bank account in the Term Loan. Here the EMIs constitute both interest and principal component and thus monthly installments are more expensive than Flexi loans.

Can I convert Flexi Term Loan to a Term Loan?

All you need to do is write an email to the customer care to convert your loan type. Your consent will be raised, and your flexi personal loan will become a term loan for 60 months. Afterwards, your EMIs will be regular ones with the principal amount.

Can Flexi Personal Loan facility be ever blocked?

In case of EMI bounce, plunge in credit score, employment change or inability to update contact details can lead to Flexi Loan Calcination or blockage.

Can I view my EMI status online?

Yes, you can conveniently view your loan EMI status by checking statement of account on the customer portal.

Can I Prepay a Personal Loan?

You can prepay your Bajaj Finserv personal loan6 times in a year. The minimum prepayment amount should be at least 3 EMIs. You can make the repayments as per your convenience as there is no clause to limit the gap between the two prepayments. Again there is no limitation on the repayment amount.

As such, there are no prepayment charges. However, if you part pay before the first EMI clearance, a 2% part prepayment charge is levied on the amount paid.

What is the standard CIBIL score required for Bajaj Finservpersonal loan?

The minimum CIBIL score required for approval of personal loan is 750 points. However, if you have a lower CIBIL score, you must speak to Loan Experts at MyMoneyMantra. If all other criteria are met, you may still be eligible to apply for Personal Loan with the lower score. We are experts in locating best deals for our customers.

OTP is sent to your mobile number

Enter OTP

OTP can't be left blank

Please enter valid OTP!

Resend OTP