Bajaj Finserv Personal Loan

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About Bajaj Finserv

Bajaj Finserv, the most diversified non-banking institution in the country financing the widest set of products is a part of Bajaj Holdings and Investments Limited. It is a financial services company which has an expertise in providing loans, asset and wealth management and insurance. 
Bajaj Finance Limited, a subsidiary of Bajaj Finserv Limited is a Non-Banking Finance Company (NBFC) engaged in consumer and SME finance, commercial lending and wealth management.

Bajaj Finserv Personal Loan

About Bajaj Finserv Personal Loan

Bajaj Finserv provides Personal Loan to manage the finances and therefore, it acts as an impetus in putting one's plans into actions. The product comes handy when one plans a-

  • Dream Wedding
  • Travel
  • Home Improvement
  • Medical Emergency
  • Higher Education

Bajaj Finserv Personal Loan Features & Benefits

  • Quick loan approvals online & offline
  • Funds available in bank within 72 hours
  • Loans up to 25 Lakhs
  • Part prepayment facility up to 6 times in one financial year at no extra cost (available only after clearance of the first loan EMI)
  • Zero foreclosure charges
  • Complete online account access anytime from any location to keep a track of loan details, repayment history, interest certificates, payment schedules etc.
  • Loan tenures ranging from 24 months to 60 months.

Apply for a Personal Loan

Bajaj Finserv Flexi Personal Loan

Key Features of Flexi Personal Loan

  • Loan Sanction Amount: As per Flexi Loan scheme, the sanctioned loan amount is assigned as a limit. The borrower can borrow as much amount as required.
  • Rate of Interest Charged: The interest is charged on the current utilized amount. The borrower is required to pay the interest only on the amount utilized.
  • Loan Repayment: The borrower is facilitated with an option of paying only interest amount in EMIs and the principal amount can be paid at the end of the loan tenure.
  • Multiple Withdrawals: The borrower has a convenience of withdrawing the amount from the pre-approved credit limit multiple times. He can withdraw the amount as and when required.
  • NIL Pre-payment Charges: The borrower can pre-pay the loan amount at NIL fees.
  • Convenient Pre-payment: The borrower has the flexibility of pre-paying loan. He can pre-pay the loan amount anytime.


Eligibility Criteria For Flexi Personal Loan

  • Age: The borrower should be at least 25 years and above in the age at the time of applying for a flexi loan. The maximum age go up to 55 years at the time of loan maturity.
  • Eligible Candidates: Any employee working in Multi National Company, a private organization, and a public company can apply for a flexi personal loan.


Documents Required for Flexi Personal Loan

  • KYC Documents: The borrower has to submit the KYC documents including identity proof, address proof and, age proof along with the filled application form.
  • Salary Slips: The applicant has to furnish his salary slips of last 2 months.
  • Bank Statement: The applicant has to submit the bank statement of last 3 months along with the employee identity card.


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 Fees & Charges

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

  • Processing fee (2.25% - 3% of the loan amount)
  • EMI bounce charges (1,000/- for each bounce)
  • Penal interest (2.00% per month)
  • Secure fee only for online applications (1999/-)
  • Foreclosure charges (4% + applicable taxes on principal outstanding)
  • Prepayment charges (2% + applicable taxes on part payment amount)


Bajaj Finserv Personal Loan Eligibility Criteria

  • Age between 25 to 55 years.
  • Salaried employee (of an MNC or public or private company).
  • An Indian citizen residing in one of the 30 cities mentioned below.
 Indian cities Minimum net salary/month 
Bangalore, Chennai, Coimbatore, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Mumbai,      Noida, Pune, Thane, Surat40,000/-
Ahmedabad, Chandigarh, Cochin, Jaipur, Kolkata, Nagpur35,000/-
 Aurangabad, Baroda, Bhubaneswar,Indore, Madurai, Mysore, Nasik,Trivandrum, Vijayawada, Vizag,Bhopal30,000/-

  • Interest Rate 11.99% - 14.75%
  • Loan Amount 1L - 30L
  • Processing Fee 2% - 2.5%
  • Tenure5 Years

  • Quick Apply

Documents Required for Bajaj Finserv Personal Loan

 Category Documents Required
FinancialsLast 2 months salary slips 
Bank statementsLast 3 months bank statements (Salary account)
Employment ProofEmployee ID card
KYC Documents
  • Identity proof (Passport / Voters ID card / Driving license / PAN card)
  • Address proof(Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR / Admin signature)

Other Available products from Bajaj Finserv


EMI Calculator

EMI Calculator

Loan EMI

Total Interest Payable

Total of Payments
(Principal + Interest)

Bajaj Finserv reduces Personal Loan interest rate to 11.99%

September 25,2017

India’s popular financial services company Bajaj Finserv has reduced Personal Loan interest rate to 11.99% bringing joy to borrowers this festive season. The new interest rate is applicable on the loan amount of Rs. 12 lacs and above. The festive offer is valid until 25th September 2017.

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