Bajaj Finance Loan offers personal loans, which fall under the category of unsecured loans, meaning you don’t need to provide any collateral or guarantee to secure the loan. To be eligible for a Bajaj Finance Loan, having a strong credit history is crucial, as the loan approval is primarily based on your CIBIL Score. With an excellent credit score, you can secure a personal loan at an attractive interest rate.
The Equated Monthly Installments (EMI) for Bajaj Finserv Personal Loan start from Rs. 1,104 per lakh. If you meet all the eligibility criteria, you can complete the loan application process in just 5 minutes. Bajaj Finance Loan interest rates begin at 11% per annum, making it a competitive option. You have the opportunity to secure a loan of up to 40 lakh rupees through this offering, and you can apply for a Bajaj Finance Loan through both online and offline channels. It’s important to review the specific terms and conditions and consult with Bajaj Finance for the most accurate and up-to-date information regarding their loans.
A personal loan is a type of loan that you can use for various personal expenses, such as covering the costs of a wedding, dealing with medical emergencies, funding education, traveling, or renovating your home. In this article, we will provide detailed information about Bajaj Finance Personal Loan in Hindi, including details on interest rates, eligibility criteria, required documents, and the application process. Please read this article in its entirety to get a comprehensive understanding of this loan.
In this article, you will find information about Bajaj Finance Instant Personal Loan. Similar to other banks and financial institutions, Bajaj Finance provides personal loans to customers at competitive interest rates. Before applying for a personal loan, it’s essential to understand what a personal loan is. This article will provide insights into this financial product.
Bajaj Finance Personal Loan Interest Rate
The interest rate for Bajaj Personal Loan begins at 11-40% per annum Approx. To be eligible for this loan, it’s important to have a strong CIBIL score. A good CIBIL score enables you to secure this loan with favorable interest rates.
Prior to applying for a personal loan from any lender, it’s crucial to have a clear understanding of the loan’s interest rate. You should compare the interest rates of various personal loans to ensure you can secure a cost-effective option. This will help you choose a personal loan that suits your financial needs.
Bajaj Finserv Personal Loan Benefits and Features
Bajaj Finance Personal Loan offers a range of attractive features and benefits, making it a convenient choice for various financial needs:
1. Flexibility: This loan is versatile and can be used for a wide range of personal expenses.
2. Loan Amount: Bajaj Finance provides an instant personal loan of up to ₹40 lakh, allowing you to meet your financial requirements.
3. Loan Tenure: You can choose a loan tenure of up to 96 months, giving you flexibility in repaying the loan.
4. Affordable EMI: The EMI for this personal loan starts at just ₹1,104 per lakh, making it accessible to many borrowers.
5. Quick Approval: Meeting all the eligibility conditions ensures that your loan gets approved in just 5 minutes.
6. Fast Disbursal: After approval, the loan amount is transferred to your bank account within 24 hours.
7. Flexi Personal Loan: Enjoy the benefit of reducing EMI payments by up to 45% with the Flexi Personal Loan feature.
8. Transparent Terms: Bajaj Finance Personal Loan is free from hidden charges, ensuring transparency in the loan process.
9. No Collateral: There’s no requirement to provide collateral or security when applying for this loan.
10. Pre-Approved Customers: Pre-approved customers can access the loan without the need for additional paperwork, receiving funds in just 20 minutes.
11. Customer Support: If you encounter any issues during the application process, you can contact Bajaj Finance Personal Loan customer support.
12. Online and Offline Application: You have the flexibility to apply for Bajaj Finance Personal Loan both online and offline, making it convenient for a wide range of customers.
Purpose of Bajaj Finance Personal Loan
Bajaj Finance Instant Personal Loan provides you with the flexibility to meet various personal objectives. Here are some common purposes for which you can use this loan:
1. Marriage: If you’re planning your own wedding or helping a friend or family member with their wedding expenses, a personal loan can provide the necessary financial support.
2. Travel: Whether you’re planning a vacation or need funds for a travel expedition, a personal loan can cover your travel expenses.
3. Home Renovation: You don’t have to opt for a substantial home loan to renovate your house. Use a personal loan to realize your dream of renovating your home.
4. Education: Finance your children’s higher education expenses, including tuition fees and related costs, with a Bajaj Finserv Personal Loan.
5. Medical Emergency: In case of unexpected medical expenses, a personal loan can help you manage the financial burden and access the required medical treatment.
6. Loan Consolidation: Merge various types of loans into a single personal loan to streamline your monthly installments, making it more manageable and convenient.
Bajaj Finance Personal Loan offers you the flexibility to address a wide range of personal financial needs.
Bajaj Finance Personal Loan Eligibility
To apply for a Bajaj Finance Personal Loan, you need to meet certain eligibility criteria. Here are the eligibility requirements:
1. Loan Purpose: You can apply for this loan to meet various personal expenses.
2. Residency: Applicants must be permanent residents of India.
3. Employment: Individuals working in MNCs, public and private companies are eligible to apply.
4. Age: The age of the applicant should be between 21 to 67 years.
5. CIBIL Score: A good credit score is essential for approval. Your CIBIL score should be 750 or above.
6. Monthly Income: The applicant’s minimum monthly income should be at least ₹22,000.
Meeting these eligibility criteria is crucial to qualify for a Bajaj Finance Personal Loan. It’s essential to ensure you fulfill these requirements before applying for the loan to enhance your chances of approval.
Bajaj Finserv Personal Loan Documents Required
When applying for a Bajaj Finance Personal Loan, you will need to provide certain documents to complete the application process. Here are the required documents:
1. KYC Document: You will need to submit one of the following for identity and address proof: Aadhaar Card, PAN Card, Driving License, Voter ID Card, or Passport.
2. Passport Size Photograph: A recent passport-sized photograph of the applicant.
3. Bank Account Statement: You should provide your bank account statement for the last 3 months as proof of your financial transactions.
4. Salary Slip: You will need to submit your salary slips for the last two months to show your income.
Having these documents ready will make the application process smoother and increase the chances of approval for your personal loan.
How to Apply for Bajaj Finserv Personal Loan?
If you meet the eligibility criteria and have all the necessary documents, you can apply for a Bajaj Finance Personal Loan through both online and offline methods. Here’s how to apply using both options:
Apply Online For Bajaj Finance Personal Loan
To apply for a Bajaj Finance Personal Loan online, follow these steps:
Step-1: Visit the official website of Bajaj Finance.
Step-2: Click on the “Personal Loan” option under the “Loan” section on the homepage.
Step-3: You will find information related to the personal loan on the next page.
Step-4: Click on the “Apply Online” option to start your application.
Step-5: The loan application form will open.
Step-6: Enter all the requested information accurately in the form.
Step-7: After completing the form, submit it.
Step-8: Bajaj Finance’s staff will contact you to further process your loan application.
Ofline Application For Bajaj Finance Personal Loan
To apply for a Bajaj Finance Personal Loan offline, follow these steps:
Step-1: Visit your nearest Bajaj Finance branch.
Step-2: Get in touch with a bank representative who will guide you through the loan application process.
Step-3: Your documents will be verified as part of the application process.
Step-4: You will need to fill out a loan application form along with providing the required documents.
Step-5: Once your application is submitted, the bank will review it.
Step-6: If your loan application is approved, the loan amount will be transferred to your bank account.
How to Check Bajaj Finance Personal Loan Status?
To track the status of your Bajaj Finance Loan application that you’ve applied for online, you can follow these steps:
Step-1: Visit Bajaj Finance’s official website.
Step-2: Click on the “My Account” option.
Step-3: You’ll be directed to the Customer Portal.
Step-4: Log in with your username and password.
Step-5: Once logged in, find and click on the “Track Application” option.
Step-6: Your loan application status will be displayed on the screen.
Note – You can also use the Bajaj Finance Loan App to track the status of your application for added convenience and accessibility.
How to Check Bajaj Finance Personal Loan Statement?
Financial companies typically provide monthly loan account statements to customers, which include details such as the payment due date, loan EMIs, outstanding balance, and other relevant information. Monitoring your personal loan statement is essential for staying informed and making timely payments and repayments.
You can access your personal loan statement both online and offline. To check your Bajaj Finance Personal Loan Statement, follow these steps:
1. Online Method:
To check your Bajaj Finance Personal Loan Statement online, follow these steps:
Step-1: Visit the customer portal of Bajaj Finance.
Step-2: Log in using your Customer ID.
Step-3: You will receive an OTP on your registered mobile number. Enter this OTP to complete the login.
Step-4: After logging in, click on the “Services” option.
Step-5: Select “View Details” to access your loan account details.
Step-6: Click on the “e-Statement” option to view your personal loan statement online.
Step-7: Your complete loan account details, including the statement, will be displayed, and you can also download it for your records.
2. Check from Mobile App:
To check your Bajaj Finance Personal Loan Statement through the mobile app, follow these steps:
Step-1: Download the Bajaj Finance app from the Google Play Store.
Step-2: Log in to the app using your customer ID, registered mobile number, or email ID and password.
Step-3: Navigate to the personal loan section within the app.
Step-4: You can check your personal loan statement and other account details from there.
3. By Visiting Branch:
To check your Bajaj Finance Personal Loan Statement by visiting a branch, follow these steps:
Step-1: Visit your nearest Bajaj Finance branch.
Step-2: Contact the bank representative and inform them about your intention to check your personal loan statement.
Step-3: The bank staff will guide you through the process.
Step-4: They will verify your identity and pull up your personal loan account information.
Step-5: You may need to fill out a request form or provide specific details to access your loan statement.
Step-6: Once your details are verified, the bank representative will provide you with a printed copy of your personal loan statement.
Personal Loan Fees and Charges
|Processing fee||3.93% of Loan Amount|
|Penal interest||At the Rate of 2% to 4% per month|
|Bounce charges||600 to 1200 rupees per bounce|
|Part pre-payment charge||2%+tax applicable on part payment paid|
|Stamp Duty||As Per State|
|Mandate Rejection Fee||Upto Rs.450|
Personal Loan Foreclosure Charges
|Term Loan||4% of the principal outstanding on the date of full pre-payment of such term loan, plus applicable tax|
|Flexi Term & Hybrid Loans||4% + applicable tax on total withdrawal amount|
Bajaj Finance Personal Loan EMI Calculator
Calculating your Bajaj Personal Loan EMI is a useful step before applying for the loan. To calculate your EMI, you can use the Bajaj Finserv Personal Loan EMI Calculator, available on their official website. The EMI amount depends on factors like the loan amount, interest rate, and loan tenure. A higher interest rate will result in a higher EMI.
Here are the steps to calculate your Bajaj Personal Loan EMI:
Step-1: Visit the official website of Bajaj Finserv.
Step-2: Find the Personal Loan EMI Calculator.
Step-3: Enter the loan amount you wish to borrow.
Step-4: Input the applicable interest rate.
Step-5: Choose the loan tenure, i.e., the duration for which you want the loan.
Step-6: Once you’ve entered these details, the EMI calculator will display your estimated EMI amount.
This tool is very helpful in planning your finances as it gives you an idea of how much you’ll need to allocate towards your loan repayment every month.
Bajaj Finance Personal Loan Customer Care Number
- Toll Free Number – 1800-103-3535/ 869-801-0101
- Compliance Contact Number – 020-7407393
Conclusion – This article provides comprehensive information about Bajaj Finance Personal Loan in Hindi. It’s a versatile loan that can be used to cover various expenses. If you encounter any difficulties while applying for the loan, you can reach out to Bajaj Finance Customer Care for assistance.
For individuals with a strong repayment capacity and a high CIBIL score, there’s an option to get the loan without extensive documentation, commonly referred to as “Bajaj Finance Personal Loan without documents.” If you have any further questions or need guidance on how to avail a loan from Bajaj Finance, feel free to ask in the comments section.