A direct loan keeps one point of contact, from the offer to your last repayment. That brings 3 practical advantages:
- You see the offer yourself: The amount, rate, fees and Key Fact Statement appear on your screen, not relayed by someone else.
- Questions reach the lender: Service requests, statements and complaints go straight to the people who manage the loan.
- Fewer people hold your data: Your documents and details are shared with one company, not with an agent as well.
Hemant's house repair
Hemant is 31, a salaried sugar mill quality chemist in Bareilly, on Rs. 50,000 a month, with 722 as his CIBIL score. He was offered help by an agent but chose a direct loan, applying on the lender's website for Rs. 1 lakh to repair his house after the monsoon. At an illustrative 16.5% per annum, the equated monthly instalment (EMI) came out as below for 2 and 3 years.
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. Here P = Rs. 1,00,000, R = 16.5 ÷ 1,200 and N = months.
| Tenure | Monthly EMI (Rs.) | Total interest (Rs.) | EMI as share of salary (%) |
|---|
| 24 months (2 years) | 4,920 | 18,086 | 9.8 |
| 36 months (3 years) | 3,540 | 27,456 | 7.1 |
Last updated: 26th October, 2026
On 36 months, each payment would be Rs. 1,380 lower; total interest would climb by Rs. 9,370. Up to Rs. 4,130 covers processing. Hemant chose 24 months and kept every loan document in one place.
What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.
Want a direct loan? With a Bajaj Finance Personal Loan, you can borrow Rs. Rs. 40,000 to Rs. Rs. 75 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.
