All About Personal Loans for Manufacturing Sector Employees

Gain access to high-value funding, flexible terms with competitive rates and meet your financial needs today.
All About Personal Loans for Manufacturing Sector Employees
5 min read
11 July 2023

The manufacturing sector contributes significantly to economic growth and employment and finance possibilities to millions of people.

For those working in this sector, a personal loan for manufacturing sector employees could be useful in this situation. A personal loan can be used to cover a variety of expenses, such as costs relating to medical emergencies, weddings, home renovations, college fees, or any other major expenditures.

Personal loans for manufacturing sector employees

Numerous financial institutions, including NBFCs (Non-Banking Financial Companies), offer personal loans to employees working in the manufacturing sector. Loan terms such as the loan amount, interest rates, and repayment period, can vary from lender-to-lender.

Bajaj Finance Personal Loan is a great option for manufacturing sector employees who are looking for a loan with a simple application process that can be completed from the comfort of their homes. With Bajaj Finance Limited, any working professional can borrow up to Rs. 40 lakh and pay for a variety of expenses.

Bajaj Finance Limited offers personal loans to employees working at manufacturing companies like TATA Steel Limited, Ultra Tech Cement Limited, Steel Authority of India Limited, and more. Click here to get a comprehensive list of manufacturing businesses whose employees can apply for a Bajaj Finance Personal Loan.

Features of Bajaj Finance Personal Loan

Personal loan offers a variety of features that are specifically intended to meet your financial needs. Learning more about these will help you make informed decisions and gain access to the necessary finance.

Let us look at some of the features of a Bajaj Finance Personal Loan:

  • Loan amount of up to Rs. 40 lakh

Bajaj Finance Limited offers funds of up to Rs. 40 lakh. These funds can be used for a variety of purposes, including home renovations, paying for further education, buying a car, and paying for medical bills.

  • Quick disbursal of funds

Bajaj Finance Personal Loans are disbursed within 24 hours* of approval. The quick access to funds makes it an ideal option for any kind of emergency.

  • Convenient repayment tenure

With Bajaj Finance Personal Loan, you can opt for a longer tenure to make your loan repayment more affordable. Our repayment terms range from 6 months to 96 months. You can select a tenure based on your available funds and requirements.

  • Flexi benefits

Bajaj Finance Limited offers two unique variants of Flexi Personal Loans: Flexi Term Loan and Flexi Hybrid Loan. These loans enable you to borrow funds from your sanctioned loan limit and part-prepay in accordance with your capability without paying any additional fees. Interest will be charged only on the amount that is withdrawn. Additionally, you can reduce your monthly payments by opting for a Flexi Hybrid Loan, in which you pay interest-only EMIs for the initial portion of the loan's tenure.

Eligibility criteria for personal loan for manufacturing sector employees

The following are the criteria that determine your eligibility for a personal loan:

  • Nationality: Indian.
  • Age: 21 years to 80 years**.
  • Employed with: Public, private, or MNC.
  • CIBIL Score: 685 or higher.
  • Monthly salary: Starting at Rs. 25,001, based on the city you live in.

*You should be 80 years* or younger, at the end of the loan tenure.

Steps to apply for a personal loan if you are a manufacturing company employee

Here is a step-by-step guide to applying for our personal loan:

  • Click "APPLY" at the top of this page to open our online application form.
  • Enter your 10-digit mobile phone number and the OTP sent to your phone.
  • Fill out the application form with basic information, such as your full name, PAN, date of birth, and PIN code.
  • Now, click 'PROCEED' to proceed to the loan selection page.
  • Enter the loan amount you require. Choose between our three variants of personal loans: Term, Flexi Term, and Flexi Hybrid.
  • Choose a repayment term ranging from 6 months to 96 months, and then click 'PROCEED'.
  • Complete your KYC requirements and submit your loan application.

The next few stages will be guided to you by our representative. And the loan amount will be credited to your bank account once your documents are verified and approved.

You may find a personal loan to be a useful for meeting your immediate financial needs. You can also utilise the personal loan EMI calculator to rapidly determine your monthly repayments. The loan amount and tenure can be changed according to your ability to pay monthly EMIs.

Disclaimer

While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply