Flexi loan interest rate & charges

Bajaj Finserv provides you personal and business loan at attractive interest rate and minimal fees & charges. The loan comes with no hidden charges and 100% transparency. The charges which are applicable for loan processing are mentioned below:

Types of Fees

Charges Applicable

Rate of Interest

Personal Loan 14% to 17% p.a.

Business Loan 17% p.a. and onwards

Processing Fee

Up to 2% of the loan amount (plus applicable taxes)

Penal Interest

Any delay in payment of monthly instalment/EMI shall attract penal interest at the rate of 2% per month on the monthly instalment/EMI outstanding, from the date of default until the receipt of monthly instalment/ EMI.

Document Processing Charges

Rs. 2,000 (plus applicable taxes)

Bounce Charges

Up to Rs. 3,000 (inclusive of applicable taxes)

Stamp Duty

At actuals. (as per State)

Flexi Loan Annual/ Additional Maintenance Charges (AMC)

Annual Maintenance charge is a nominal charge which is charged every year basis your anniversary date. This is charged for the exclusive services which we provide you (like part payment, drawdown and account maintenance.)

You need to pay the Annual Maintenance Charge every year as per your loan disbursement month. This amount automatically gets debited from your bank account.

Loan Variant

AMC Charges

Flexi Term loan

0.25% of the total withdrawable amount, as per the repayment schedule (plus applicable taxes), on the date of levy of such charges

Flexi Hybrid loan

Personal Loan:   

●        For Initial Tenors: 0.25% to 0.50% of the total withdrawable amount (plus applicable taxes)

●        For Subsequent Tenors: 0.25% of the total withdrawable amount (plus applicable taxes

Business Loan:

●        For Initial Tenors: 1% of the total withdrawable amount (plus applicable taxes)

●        For Subsequent Tenors: 0.25% of the total withdrawable amount (plus applicable taxes)

Foreclosure Charges

Loan Variant

Foreclosure Charges

Flexi Term loan

4% of the total withdrawable amount as per the repayment schedule (plus applicable taxes), on the date of such full prepayment.

Flexi Hybrid loan

4% of the total withdrawable amount as per the repayment schedule (plus applicable taxes), on the date of such full prepayment.


IMPORTANT:

Part-prepayment charges: Part-payment charges are not applicable if the borrower is an individual with a variant of Flexi loan.
Mandate rejection service charge*: Rs. 450 (inclusive of applicable taxes)
*Charges will be levied if the new mandate form is not registered within 30 days from the date of rejection of the previous mandate form by the customer’s bank for any reasons whatsoever.

Bajaj Finserv flexi Loans come up with attractive interest rates which start from 14% onwards and changes basis the type of loan once has chosen. This nominal rate of interest and a transparent list of charges ensure that you can plan your repayment effectively before you avail of the loan.
Access your loan-related document for free at any time via Bajaj finserv APP & customer portal -Experia, where you can view your loan details whenever and wherever you want. You can also download your monthly account statement and many more.

Frequently asked questions

What is the processing fee for a Flexi loan?

The processing fee for Bajaj Finserv Flexi loan may go up to 4% of the loan amount plus taxes. This fee depends on the loan amount and factors such as your eligibility.

Is there a charge applicable on Partpayment?

For any flexi loan facility, there is no charge applicable for making any partpayment. You can make partpayment whenever you have surplus fund at no additional charge.