How To Avail Of Bajaj Finserv Personal Loan At A Low-Interest Rate?

If you are applying for personal loan then, the basic thing is that personal loan is an unsecured loan. It can be used with a large variety of end uses such as medical treatment, home renovation, travel, wedding, and other urgent financial requirements. Bajaj Finserv is one that offers personal loan interest rate at 11.49% p.a. For more details, you need to read the article and get the details you required for availing of the loan.  

Bajaj Finserv Personal Loan Highlights  

Interest rate  11.49% per annum onwards 
Loan Amount  Maximum of Rs. 25 Lakh 
Eligible Applicants Categories 
  • Salaried Individuals 
  • Self-employed individuals 
  • Doctors 
  • Chartered Accountants 
Eligibility Age  From 23 years to 55 years at loan maturity 
Loan Tenure  Maximum of 60 months 
Types of Personal Loans 
  • Flexi Loan 
  • Personal Loan for Wedding 
  • Personal Loan for Travel 
  • Personal Loan for Medical Emergency 
  • Personal Loan for Doctors 
  • Personal Loan for CA 
  • Personal Loan for Self-Employed 

Bajaj Finserv Personal Loan EMI Calculator  

  • Personal Loan EMI (or equated monthly installment) is a set sum of money charged to Bajaj Finserv on a monthly basis to repay your loan and pay interest to the bank. It is due on a set date per month before your loan is fully paid off. 
  • With loan EMIs as low as 2,275 per lakh for a 60-month term and the lowest rate of interest at 12.99 percent, Bajaj Finserv provides affordable and easy personal loans. 
  • The Bajaj Finserv Personal Loan EMI Calculator is a useful and dependable method for determining the loan repayment schedule. Furthermore, the Bajaj Finserv personal loan EMI calculator assists first-time loan borrowers in determining whether or not they can take out a loan. 

Bajaj Finserv Bank personal Loan Eligibility Criteria  

The eligibility for a personal loan varies slightly depending on the type of loan you have chosen. However, the following are some of the most common unsecured loan eligibility criteria: 

  • You must be a citizen of India. 
  • You must be at least 23 years old to apply. 
  • The highest age you should be is 55 years old. 
  • The applicant must live in one of the cities mentioned below:  

For salaried applicants 

  • The applicant must be a salaried employee of an MNC (Multinational Corporation), whether private or public. 
  • The monthly minimum wage should be as follows: 
City  Minimum Salary Per Month 
Bengaluru, Delhi, Pune, Mumbai Hyderabad, Chennai, Coimbatore, Ghaziabad, Noida, and Thane  Rs. 35,000 
Goa, Lucknow, Baroda, Indore, BhubaneshwarVizag, Nasik, Aurangabad, Madurai, Mysore, Bhopal, Jamnagar, Kolhapur, Raipur, Trichy, Trivandrum, Vapi, Vijayawada, Jodhpur, Calicut, and Rajkot  Rs. 25,000 
Ahmedabad, Kolkata  Rs. 30,000 
Jaipur, Chandigarh, Nagpur, Surat, Cochin  Rs. 28,000 

 For Self-employed individuals  

  • At least three years should have passed since you started your company. 
  • In the previous year, your company should have filed an ITR return. 

 For Doctors  

Type of Applicant  Doctor Loan must have Qualifying Criteria 
Super-specialist doctors (MS/MD/DM)  No minimum post-qualification experience required for the loan 
Graduate Doctors (MBBS)  At least 2 years of post-qualification experience required for the loan  
Dentists (BDS/MDS)  At least 5 years of post-qualification experience required for the loan 
Ayurvedic and Homeopathic Doctors:  

BHMS/BAMS 

At least 6 years of post-qualification experience required and must own a house or clinic for the loan approval 
Homeopathic Doctors: DHMS  At least 15 years of post-qualification experience required and must own a house or clinic for the loan approval.  

For Chartered Accountants   

  • Get a current COP (Certificate of Practice) for at least 4 years. 
  • Do you own a home or a business? (The location where Bajaj Finance Ltd operates) 

Documents required for Bajaj Finserv Personal loan application  

The following are some important documents that must be submitted when applying for a personal loan with Bajaj Finserv: 

  • KYC Documents for– Aadhaar, Driver’s License, Voter ID Card, etc. 
  • Recent photograph 
  • PAN Card
  • Additional documents required for salaried applicants 
  • Form 16 or the most recent pay stubs 
  • Statements from the previous six months’ bank accounts  
  •  Additional documents required for self-employed individuals  
  • Proof of Concept (Certificate of business existence) 
  • Financial records that are important to the business (if annual turnover exceeds Rs. 1 crore) 
  • Statements of bank accounts 
  • A certified copy of the previous year’s tax return is needed (ITR)
  • Additional documents required for self-employed individuals  
  • A certificate of Practice (COP) is required  
  • A Bank Statement is required 
  • Additional documents required for Doctors  
  • Medical Registration Certificate  

Fees and other charges  

Here are some fees and other charges offered by Bajaj Finserv Personal Loan to the applicants:  

Processing fees  Up to 3.99% of the loan amount 
Bounce Charges  Rs. 600  to Rs. 1200 per instance (Inclusive of applicable taxes) 
Penal interest  2% of EMI amount per month + applicable taxes or Rs. 200 per month (including taxes), whichever is higher 
Secure fee (only for online approvals)  Rs. 4,499 
Outstation cheque collection charges  Rs. 65 + applicable taxes per repayment instrument 
Part-payment charges  2% of amount prepaid (minimum 2 EMI)+ taxes as applicable 
Foreclosure charges  4% on the principal amount outstanding as of date or foreclosure.  

How to apply for Bajaj Finserv Personal Loan with Afinoz 

Here is the step-by-step process to apply for Bajaj Finserv Personal Loan through Afinoz 

  • Afinoz.com has an online loan application form. 
  • Examine proposals from a variety of potential lenders, sorted by likelihood of acceptance. 
  • If available, select the loan offers from Bajaj Finserv or contact Afinoz for assistance. 
  • Fill out an online form with a few more specifics about yourself so that the personal loan application can be forwarded to the lender of your choice. 

In the bottom line   

In the above information of the article, you may get entire details and guidelines before applying for BajaFinserv Personal LoanYou just need to check the interest rate charged by the bank, Bajaj FInserv personal loan EMI Calculator, and repayment tenure. For further details, you can avail of the loan for flexible repayment tenure at AfinozApart from this, you can also visit the official site of Bajaj Finserv