Bajaj Finserv Personal Loan Apply Online

Bajaj Finserv offers personal loans to salaried and self-employed applicants at 11% per annum onwards for loan amounts of up to Rs.35 lakh and for tenures of up to 7 years. It provides instant personal loan approval and disbursement with minimal documentation. Bajaj Finserv also offers pre-approved personal loans offer to selected existing customers as well as new customers.

Bajaj Finserv Personal Loan Overview
Occupation	Salaried or Self-employed
Loan Amount	Up to Rs.35 Lakhs
Repayment Tenure	1 to 7 years
Interest Rate	11% p.a. onwards
Processing Fees	Up to 4% of the loan amount (including GST)
Age Limit	21 years to 70 years
Minimum Income	Rs.22,000 per month

Bajaj Finserv provides personal loans to cover all your immediate goals like education expenses, medical needs, home expenditures, and wedding costs. They grant personal loans to Doctors and Chartered Accountants.

Key Features or Benefits: Bajaj Finserv Personal Loan

• 3 unique variants- You can pick a suitable loan variant for you as per your requirement. Like: - Term loans, Flexi term loans, and Flexi hybrid loans.
• Higher loan amount- You can easily manage various expenses (small or big) with personal loans ranging from 1 lakh to 35 lakh.
• Convenient loan tenure- You can manage your loan easily by choosing a flexible loan tenure option of your choice ranging between 12 months to 84 months.
• No guarantor/collateral required- No guarantor or collateral is required to avail personal loan from Bajaj Finserv.
• No hidden charges- They provides personal loan at zero hidden charges, Bajaj Finserv discloses all charges on their terms and conditions.
• Offers for new customers- Bajaj Finserv provides various offers to new customers also, but those new customers need to meet the pre-defined parameters.
• Fast loan approval- You can easily avail personal loan from Bajaj Finserv in less time. They provide speedy approval for your online loan application and make disbursement immediately.
• No-part prepayment charge on Flexi term loan- You can easily repay part of your loan in advance, without any extra charge. You can make a part payment many times as per your choice.

Bajaj Finserv Personal Loan Eligibility Criteria

Bajaj Finserv personal loan eligibility criteria are fixed on the basis of age, occupation, monthly income, CIBIL score, and nationality of its applicants. Mentioned below are the loan eligibility criteria set by them.

1. Salaried and Self-employed applicants (Professional/Non-professional)

• Applicants must be an Indian resident.
• Age limit may vary between 21years to 70 years for salaried. For self-employed professionals, the age limit is 24 to 70 years.
• Occupation- Employed with the public, private, or MNC.
• Business vintage of at least 3 years or more.
• Minimum required CIBIL score is 750.
• Minimum monthly salary required in Rs.22,000 (monthly salary is based on the city you live in).

City-Wise Minimum Salary Requirement

The city in which you’re living and your current salary are the two important criteria to avail loan from Bajaj Finserv. They offer personal loans across more than 3,000 cities in India.

Check the below information to get an idea about their salary eligibility.

1. The personal loan applicants from cities like Bangalore, Pune, Noida, Mumbai, Thane, Delhi, Coimbatore, Chennai, and Hyderabad, the minimum required monthly income is Rs.35,000
2. Ahmedabad, Kolkata- Minimum monthly income is Rs.30,000
3. In the case of personal loan applicants from Jaipur, Nagpur, Cochin, Chandigarh, and Surat, the minimum  monthly income should be Rs.28,000
4. Rs.25,000 per month for cities like Lucknow, Goa, Baroda, Vizag, Bhubaneshwar, Nasik, Aurangabad, Bhopal, Madurai, Mysore, Indore, Kolhapur, Jamnagar, Trichy, Jodhpur, Calicut, Raipur, and Rajkot.
5. Loan applicants from Junagarh, Hassan, Balangir, Gandhidham, and Godhra should have a minimum monthly income of Rs.22,000 per month.

2. Eligibility Criteria for Doctors

• Super specialist, postgraduate, specialized diploma, and other PG diploma- Must have MBBS degree needs to be registered with the relevant medical council.
• MBBS- Immediately after registration with the appropriate medical council.
• Dentists/MDS having at least 5 years of experience from the date of medical registration can avail of personal loans.
• BAMS/BHMS- Ayurvedic and Homeopathic doctors have an experience of at least 2 years from the date of medical registration.

3. Eligibility Criteria for Chartered Accountants

• The applicant must have a certificate of participate (COP) that is active for at least 4 years.
• The Chartered Accountant owns a house, office, and rental property at a location where Bajaj Finserv operates.

Mandatory Documents Required for Bajaj Finserv Personal Loan

Here is the list of required documents while applying for a personal loan with Bajaj Finserv.

1. Salaried and Self-employed applicants (Professional/Non-professional)

• KYC Documents- Aadhar card/ PAN Card/ Passport/ Voter IDs, or Driving License
• Employee identification card
• Salary slips of the previous 2 months in the salary account
• Bank account statement for 3 previous months
• Proof of business ownership is required for self-employed applicants
• Other necessary financial documents

2. Documents required for doctors

• Mandatory KYC documents
• Applicant’s certificate of medical registration

3. Documents required for Chartered Accountant

• Mandatory KYC documents such as (Aadhar card, voter ID, driving license, PAN card, etc.)
• Address Proof- The electricity bill, passport, rent agreement, etc.
• Certificate of practice
• Ownership proof of at least one property

Steps-by-Step Guide to Apply for a Bajaj Finserv Personal Loan

Step1. Click on the apply button (www.bajajfinserv.in/personal-loan) at the top of the Bajaj Finserv official website to open their online application form.

Step2. Enter your mobile number and verify the OTP sent to your phone.

Step3. Fill in the application form with all your basic details like your name, income, occupation, date of birth, PAN details, address, etc.

Step4. Next, click on the ‘PROCEED’ button to visit the loan selection page.

Step5. Enter the required loan amount and choose from their three personal loan variants- term, Flexi term, and Flexi hybrid.

Step6. Choose the loan repayment tenure; you can select the tenure options varying between 1 year to 7 years and click on the ‘PROCEED’ button.

Step7. Complete all your KYC and submit your loan application.

Bajaj Finserv representative will guide you on the further steps. The applied loan amount will be transferred to your bank account upon the successful verification of your details and documents.

Bajaj Finserv Personal Loan: Interest Rate, Processing Fees, and Other Fees and Charges

Bajaj Finserv chargeable interest rates would depend on various criteria such as credit score, age, employment, present income, and debt-to-income ratio. The existing customers may offer more favourable interest rates.

1. Fees and Charges for Salaried and Self-employed Applicants

Interest Rate	11% Onwards
Processing fees	Up to 4% of the loan amount + GST
Penal Interest	3.50% p.m. on the outstanding EMI
Part pre-payment Charges	2% + taxes
Bounce Charges	Rs.600-Rs.1,200 per bounce + applicable taxes
Flexi Fee	Term loan- not applicable
	Flexi variant (as applicable below) Rs.1999+taxes for loan amount up to Rs.1,99,999/- Rs.3999+taxes for loan amount>=2 Lakhs & <4 Lakhs Rs.5999+taxes for loan amount>=4 Lakhs & <6 Lakhs Rs.6999+taxes for loan amount>=6 Lakhs & <10 Lakhs Rs.7999+taxes for loan amount>=10 Lakhs It will be deducted upfront from the loan amount
Stamp Duty	At actuals (as per state)
Mandate Rejection Charges	Rs.450 p.m. + applicable taxes
Annual Maintenance Charges	Flexi term- 0.295% (including applicable taxes)
	Flexi Hybrid Loan- 0.295% (including applicable taxes)
Foreclosure Charges	Term Loan- 4.72%+taxes (on the principal outstanding amount).
	Flexi term and Flexi hybrid loan- 4.72%+taxes (on total withdrawable amount)
Part Prepayment Charges	4.72% (including applicable taxes)
Rs.50 is charged for Documents/Statement Charges/Account Statement/Repayment Schedule/Foreclosure Letter/Interest Certificate/No dues certificates or, Documents list

2. Fees and Charges for Doctors and Chartered Accountants

Interest Rate	13% to 18% per annum
Processing Fee	Up to 2.95% (including applicable taxes)
Late Payment Penalty	3.50% per month
Bounce Charges	Rs.1500 + Taxes

For Example- Riddhi avails a personal loan for Rs.10 Lakhs, the interest rate is 11% and the repayment period is 24 months. Calculate EMIs, total interest payable, and the total personal loan amount.

• Monthly EMIs of Rs.46,608, the total interest payable will be Rs.1,18,588 and the total amount repayable in 2 years will be Rs.11,18,588 (principal + interest).

Types of Bajaj Finserv Personal Loan

Various types of personal loans are provided by Bajaj Finserv to their customers. To know more details read below.

1. Three unique variants of personal loan

They are providing 3 different kinds of personal loan schemes. These are- Term loans, Flexi term loans, and Flexi hybrid loans.

• Flexi Term Loan- This credit facility is similar to a personal loan overdraft facility where the applicant can withdraw funds from a pre-approved limit offered on the basis of their present credit profile. You need to pay interest on the outstanding amount only. You don’t need to pay any penalty for repayment or withdrawal. This variant is more appropriate for today’s lifestyle.
• Flexi Hybrid Loan- This is another kind of personal loan variant that works exactly like a flexi term loan. But the main difference is that the initial period of the loan could vary depending on the loan tenure. Your EMI will consist of only applicable interest. And for the remaining period, the EMI will consist of interest and principal.
• Term Loan- It is like a regular personal loan. You borrow a definite amount of money, which is divided into EMIs that consist of both principal and the applicable interest.

2. Other Personal Loans

• Personal Loan for Higher Education- Individuals planning to finance their child’s higher education, especially those who cannot avail of education loans can avail of loans for higher education. There would be unforeseen education expenses like- tuition, travel, extra course fees, accommodation, emergency funds, etc.
• Loan for Medical Emergencies- Bajaj Finserv offers a Finance facility to meet planned and unplanned medical emergencies. Eligible applicants can avail of a personal loan or pre-approved personal loan for medical emergencies.
• Home Renovation Loan- Setting up of new house or renovating an existing house could be expensive. They provide a collateral-free loan facility for meeting the expenses related to home expenses.
• Wedding Loan – Individuals can meet all the wedding-related expenses to make it memorable and have a grand celebration.

3. Personal Loans for Doctors

Purpose- Personal loan for doctors is provided for financing the essential needs of doctors including the enhancement of their medical practice.

• Loan Tenure- Up to 8 years

• Loan Amount- Up to Rs.55 lakhs

4. Personal Loans for Chartered Accountants

Purpose- Bajaj Finserv provides personal Loans for meeting the planned or unplanned needs of chartered accountants. The need can be of any kind whether it is personal or professional.

• Loan Amount- Up to Rs.55 lakhs
• Loan Tenure- Up to 8 years

Pros and Cons of Bajaj Finserv Personal Loan

Following are the pros and cons of availing of a personal loan from Bajaj Finserv including a review of the users.

PROS	CONS
3 unique personal loan variants are available	Difficulty in exploring and using the app
Single platform for various financial needs	Customers are not happy with services
No hidden charges	Technical problems in using the app
They provide offers for new customers as well
No prepayment charge on a flexi-term loan

Bajaj Finserv Personal Loan Comparison with Other Lenders

Here is the comparison chart of Bajaj finserv with the top lenders based on the interest rate, loan amount, processing fees, and all other applicable charges. To meet your urgencies you need to compare with various personal loan lenders.

Lenders	Loan Amount	Interest Rates	Loan Tenure
Bajaj Finserv	Up to Rs.35 Lakhs	11% Onwards	1 to 7 years
Tata Capital	Rs.75,000 to Rs.35 Lakhs	10.99% p.a. onwards	Up to 6 years
Kotak Mahindra	Rs.50,000 to Rs.25 Lakhs	Starts at 10.99% p.a.	1 to 5 years
HDB Financial Services	Up to Rs.20 Lakhs	Up to 36% p.a.	1 to 5 years
ICICI Bank	Rs.50,000 to Rs.50 Lakhs	Starts at 10.75% p.a.	1 to 6 years
Punjab National Bank	Up to 20 Lakhs	9.80%-16.35% p.a.	Up to 7 years
Paysense	Up to 5 Lakhs	1.4% - 2.3% p.m.	3 to 60 months
MoneyView	Rs.5000 to Rs.5 Lakh	Starts at 16% p.a.	Up to 5 years
IndusInd Bank	Rs.30,000 - 50 Lakhs	10.49% to 29.5% p.a.	1 to 5 years

Bajaj Finserv Ratings & Review

The rating given by the customers on the Bajaj Finserv app is great on google playstore, More than 5 Crore users downloaded their app, and customers are happy with their product you can see the app review and ratings below.

Google Playstore Rating	4.6/5*
Number of App Downloads	5 Crore+
Number of Users Review	5,47,440
Content rating	3+
App Size	17 MB

Bajaj Finserv Customer Care Details

• Bajaj Finserv helpline number- +91-8698010101 (available for 24 hours, Monday-Sunday)
• Existing customers can login to their customer portal.
• Corporate Office Address- 6th floor Bajaj Finserv Corporate Office, Off Pune- Ahmednagar Road, Viman Nagar, Pune- 411014

Conclusion- Bajaj Finserv offers loan amounts of up to 35 Lakhs to salaried, self-employed (professionals/Non-professionals), Doctors, and Chartered Accountants. Users are satisfied with their large number of financial products. Their interest rates are affordable and they don’t have any hidden charges. You can check all reviews on google playstore for better assessment.

Users are facing some technical issues in using the app and are not highly happy with their customer service. The number of users is high. To get a personal loan as per the need you must read about various personal loan lenders.