Personal Loan from Bajaj Finance – Interest Rates, Eligibility Criteria, Apply Online

Do you need funds for a personal project or an emergency? You may try applying for the Bajaj Finserv Personal Loan Online. These unsecured personal loans are ideal for a range of scenarios. However, there are some crucial aspects that you need to know before applying. Here at Loan Sumo, we aim at providing borrowers like you with ample information about loan products and lenders so that you can make a well-informed decision.

Bajaj Finserv is a financial services company based in India. A part of the well-established company Bajaj Holdings & Investments Limited, Bajaj Finserv specializes in insurance, wealth management, asset management, and lending. With more than 1400 branches all over the country, Bajaj Finserv stands as one of the most well-known names in the retail banking sector. The company’s personal loans are one of the best with attractive interest rates and flexible repayment terms.

Bajaj Finance – Types of Personal Loans Online

Bajaj Finserv personal loans are truly unique in that there are multiple options to choose from. The company offers customized loans to the different categories of borrowers that meet their qualifying criteria. If you are seriously considering applying for the Bajaj Finserv personal loan online, make sure to check out the most popular personal loan products that the company is currently offering.

Bajaj Finserv Flexi Loans:

The Flexi Loan is perfect for those looking to repay the loan fast. When you opt for a Flexi personal loan account, you get the drop-line facility, which enables you to draw funds and even prepay your loan without needing to pay any extra charges. It works like an overdraft facility wherein borrowers can deposit, withdraw and prepay their loan accounts with ease. Here are a few key features of the Flexi personal loans:

  • Just like you have the liberty to withdraw and deposit money as and when you need, you can also pay interest only for the amount that you have used.
  • You do not need to bear any prepayment charges for making an extra payment when you have money to spare.
  • To apply for the Flexi Bajaj Finserv personal loan online, you need to be at least 27 years old and you must be employed in a reputed company.
  • If you already have a Bajaj personal loan account, you are eligible for the Flexi loan too.
  • The Flexi personal loan allows you to borrow anywhere from Rs. 25,000 to Rs. 2,00,000
  • The loan term may last up to 84 months.

Durable Finance Personal Loan:

Do you need a loan to purchase some lifestyle products such as electronic appliances? Well, instead of taking out a regular personal loan, you should go for the Durable Finance personal loan from Bajaj Finserv. This loan allows you to purchase a range of items with easy monthly instalments. Here are some of the key features of this personal loan:

  • You can foreclose the loan after paying just one EMI. You would not need to pay any additional charges or fines for that.
  • The Durable Finance Bajaj Finserv personal loan online schemes are also available for smaller purchases such as small kitchen appliances, music systems, computer accessories, and phones.
  • This loan has one of the highest and fastest approval rates. The Bajaj Finserv representatives are present in more than 7000 electronic stores to approve applications on the spot!
  • The loan is available to borrowers between the ages of 27 and 58 years.
  • You can borrow anywhere from Rs. 25,000 to Rs. 2,500,000. The highest amount approved for consumer goods purchase is Rs. 5,00,000.
  • You need to have a minimum income of Rs. 40,000 to be eligible.
  • The loan term can last up to 84 months.

Lifestyle Finance personal loans:

Do you want to give your home a makeover? Well, now you can! One of the Bajaj Finserv personal loan online schemes is the Lifestyle Finance personal loan. This loan is specifically designed for home remodelling projects. You can borrow enough money to renovate your home, get the latest interiors and install a modular kitchen! Some of the features of this loan are:

  • You can reduce the EMIs and pay off the loan quickly with part-payment.
  • The company offers top-up and pre-approved schemes to existing customers.
  • You can purchase any consumer durable item of up to Rs. 3,00,000 with this loan.
  • You get to make a total of 6 prepayments in a year.
  • To obtain the loan, you need to from 27 to 58 years old.

Medical Emergency Loan:

Health scares and sudden medical emergencies are stressful enough, but it is worse when you have to worry about money too! Thanks to Bajaj Finserv personal loan online schemes, you can now find a quick loan that is perfectly suitable for this purpose. If you or a loved one requires urgent medical care, the Medical Emergency Loan from Bajaj Finserv will provide you with the money. Here are some of the features of the loan:

  • If you are an existing customer of Bajaj Finserv, you can enjoy pre-approved customer-exclusive offers.
  • You can borrow up to Rs. 25 lakhs.
  • The loan requires minimal documentation and has a fast processing time. Your application will get approved instantly or within 72 hours.
  • To obtain this loan, you need to be a salaried employee between the ages of 25 and 58.

Bajaj Finserve personal loan online – Check Eligibility & Interest Rates Online

The Bajaj Finserv personal loans are perfect for a range of situations. Unlike regular online cash loans, these personal loans provide you with enough money to tide over any financial emergency. However, before applying, you should always consider the cost and whether you can afford it. Here’s a quick look at the interest rates and charges that should help you do a rough calculation.

 

For salaried

For self-employed

Loan amount Rs. 1 Lakh to Rs. 25 Lakh Rs. 5 Lakh to Rs. 30 Lakh
Tenure 24 months to 60 months 12 months to 48 months
Interest rates 11.99% 14.00%
Processing fee Up to 3% Up to 2%
Part prepayment charges Up to 2% Up to 2%
Pre-closure charges Up to 4% Up to 4%