Frequently Asked Questions
- Q1. 1) What is the maximum amount that I can avail?
- Q2. How can I repay my loan?
- Q3. What is the range of tenure for engineer loans?
- Q4. How should I begin?
- Q5. How to convert my existing loan into a line of credit?
- Q6. Is the rate of interest fixed or floating?
Q1. What is the maximum amount that I can avail?
With Bajaj Finserv, you can avail an Engineer loan ranging from Rs. 3 lakh to Rs. 15 lakh.
Q2. How can I repay my loan?
You can repay your loan with ECS.
You can also use Electronic Clearing Service (ECS) to repay. Through the ECS, the EMI amount will get transferred electronically from your bank account to your loan account.
For making such payments, you need authorize your bank to allow debits or credits from Bajaj Finserv.
Q3. What is the range of tenure for engineer loans?
Bajaj Finserv offers a flexible loan repayment tenure up to 60 months.
Q4. How should I begin?
You can avail a loan by applying on www.bajajfinserv.in
Simply fill in a short form here or SMS ER to o 9773633633, and our representative will get back to you at earliest.’’
The process is simple and will be completed in 4 easy steps.
We also provide a doorstep service. Give us a call on 1800 209 4151.. We will get back to you as soon as possible.
Q5. How to convert my existing loan into a line of credit?
You can easily convert your existing loan into a Line of credit.
Read the revised terms and conditions carefully. When you agree to the clauses, provide us with your mobile number and your bank account number.
You will receive a welcome kit with all the relevant information.
You can then make a part payment through your bank account.
To reduce the amount of your credit, you can make a request on your Customer Portal.
After the loan amount is given to you, you will receive a series of acknowledgements from us.
Q6. Is the rate of interest fixed or floating?
There are two kinds of interest rates – fixed interest rate and flexible interest rate.
Fixed rates do not change during the tenure.
Flexible rates change with a change in the base rate.
Bajaj Finserv offers Engineer Loan with a fixed rate of interest.