What is a Personal Loan?

The working class in any society often finds itself in situations where they need a lump sum of funds for personal or family-related expenditures. For example, if you require a large sum of money, it is not ideal to dip into your life savings. The right way to go about it would be to avail yourself of a personal loan of Rs. 25 lakh at a low personal loan interest rate. However, getting that Rs. 25 lakh loan depends largely on your personal loan eligibility. Although the facility of a personal loan of up to Rs. 25 lakh is available with most banks, financial institutions are likely to subject you to lesser scrutiny before approving such a significant amount.

A Rs. 25 lakh personal loan can come to your rescue in emergencies. Depending on your personal loan eligibility, you can get a personal loan up to Rs. 25 lakh without securing any assets as collateral with the lender. A personal loan offers you the flexibility of spending the loan amount however you want. This makes a Rs. 25 lakh loan the right borrowing instrument for many financial needs like house remodelling, renovations, vacations and more.

Bajaj Finserv Personal Loan

Bajaj Finserv is a well-known and trusted financial institution in India and we offer personal loans for various reasons. We have a vast customer base due to our affiliation with many e-commerce and offline partners that sell different consumer goods and products. You can easily avail yourself of a Bajaj Finserv Personal Loan of Rs. 25 lakh if you meet the personal loan eligibility criteria.

On the other hand, we also offer a standard personal loan facility up to Rs. 40 lakh.

Here is everything you need to know if you want to avail yourself of a personal loan from Bajaj Finserv.

Bajaj Finserv Personal Loan eligibility criteria

  • Customers applying for a Bajaj Finserv Personal Loan must be Indian nationals and fall between From 21 years to 80 years** of age.
  • Customers working in a government institution or private company are eligible for a personal loan.
  • Customers must meet the minimum monthly income bracket based on their city of residence to avail themselves of a personal loan.
  • Customers must have a minimum credit score of 750 to apply for a personal loan.

How to apply for a Bajaj Finserv Personal Loan?

Applying for a Rs. 25 lakh personal loan from Bajaj Finserv on a low personal loan interest rate is easy. Borrowers only have to follow these steps:

  1. 1 Visit the Bajaj Finserv Personal Loan online portal, click on Apply online and fill up the online application form
  2. 2 Enter your mobile number and verify it through OTP
  3. 3 Share your personal information such as name, address, bank details, income, credit score, etc.
  4. 4 Candidates who are registered with Bajaj Finserv will find these details pre-filled
  5. 5 Select the loan amount and submit your application
  6. 6 You will receive a call from a Bajaj Finserv executive for documentation and further processing
  7. 7 Provide documents such as passport-sized photographs, KYC documents, salary slips for the last two months, and bank statements for the previous three months

Bajaj Finserv Personal Loan features

We offer easy personal loan approvals at a low personal loan interest rate. Let’s have a look at the personal loan features in detail:

  • If you meet the personal loan eligibility criteria, your Rs. 25 lakh personal loan can be approved in less than five minutes. However, the standard approval procedure takes around 24 hours*.
  • Bajaj Finserv offers a ‘Flexi Personal Loan’ with lower EMIs for easy repayment. Borrowers also have the freedom to reduce or increase the number of EMIs/ tenors according to their repayment capability.
  • Bajaj Finserv Personal Loan offers a wide range of tenor options as borrowers can choose from a loan Tenure of 6 months to 96 months. This is a massive relief as it allows you to take your time while paying EMIs for a Rs. 25 lakh loan.
  • A Bajaj Finserv Personal Loan doesn’t include any hidden charges. The details, such as prepayment penalty/ fee, loan processing fee, and EMIs, are clearly stated in the loan document. Thus, when you take a Rs. 25 lakh personal loan, you can be sure of no hidden charges lurking beneath the fine print.

Summary: Opting for a Rs. 25 lakh personal loan from Bajaj Finserv is the soundest financial decision you can take in times of need. Bajaj Finserv Personal Loans are flexible, have a higher maximum loan amount, and are easy to apply for. If you meet the personal loan eligibility criteria, your loan might be approved the same day as you apply for it. You can even easily pre-pay the loan amount to avoid the extra interest rate.