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Personal Loan

For salaried & self-employed individuals | No collateral required | Simple process
4.8
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Features and benefits of Bajaj Finserv Personal Loan
 
 
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Trusted by 3 lakh+ customers

Personal Loan
For salaried & self-employed individuals | No collateral required | Simple process
4.8
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Disbursal in 24 hours*

Your loan amount will be credited to your account within 24 hours* of application approval.

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Flexible tenures

Plan your loan repayment and choose tenure that suits you best.

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No collateral

You do not need any collateral or guarantor to get your loan.

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Disbursal in 24 hours*

Your loan amount will be credited to your account within 24 hours* of application approval.

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Flexible tenures

Plan your loan repayment and choose tenure that suits you best.

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No collateral

You do not need any collateral or guarantor to get your loan.

Personal loan EMI calculator

Personal Loan EMI Calculator

Plan your EMI outflow with ease. Use our personal loan EMI calculator to calculate your personal loan EMI and interest payable.

Features and benefits of our personal loan

  • 3 unique variants

    Pick the loan variant that suits you best: Term loan, Flexi Flexi Term Loan (Flexi Dropline), and Flexi Hybrid Term Loan.

  • No part-prepayment charge on Flexi Loans

    Repay a part of your loan in advance, at no extra cost. You can part-pay as many times as you want.

    Read about Flexi Loans

  • Loan of up to Rs. 55 lakh

    Manage your small or large expenses with loans ranging from Rs. 40,000 to Rs. 55 lakh.

  • Approval in just 5 minutes

    Complete your entire application online from the comfort of your home or wherever you are and get an instant personal loan with fast approval.

  • Money in your account in 24 hours*

    Your bank account will be credited with your loan amount within 24 hours* or, in some cases, on the same day of approval.

  • No hidden charges

    All the personal loan interest rate and charges are mentioned clearly on this page itself and also on our loan documents. We advise you to read these in detail before applying.

  • No guarantor or collateral needed

    You do not need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.

*Terms and conditions apply


 

Multi-purpose personal loan from Bajaj Finance


An instant personal loan online comes with freedom of usage, and you can utilise these personal loans to manage a wide range of expenses, such as:

 

  • Personal loan for higher education: Pursuing higher education can take a toll on expenses, despite an education loan. Use a personal loan for higher education to cover the costs of travel, tuition, extra courses, accommodation, and so on.

  • Personal loan for medical emergency: With hassle-free application and quick disbursal, a personal loan for medical emergency can help you focus on the situation at hand without worrying about managing the expenses.

  • Personal loan for wedding: A personal loan for wedding can come in handy when you need funds in bulk for expenses such as booking the venue, and making other vendor payments.

  • Personal loan for home expenses: Fixing a leaky roof or redoing your kitchen can be big expenses. Using our personal loan for home expenses, you can make your house functional and comfortable without emptying your savings fund.

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Eligibility criteria and documents required

Anyone can apply for our personal loan online, as long as you meet five basic criteria mentioned below. If you meet all the eligibility criteria of our online personal loan, you will need a set of personal loan documents to complete your application process. With our online personal loan, you can get an instant approval for up to Rs. 55 lakh. Meet the easy personal loan eligibility parameters and complete your basic documentation to avail the money you need within 24 hours* of approval.

Eligibility criteria

  • Nationality: Indian
  • Age: 21 years to 80 years*.
  • Employed with: Public, private, or MNC.
  • CIBIL Score: 685 or higher.
  • Customer profile: Self-employed or Salaried

Documents required

  • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
  • PAN card
  • Employee ID card
  • Salary slips of the last 3 months
  • Bank account statements of the previous 3 months
  • Piped gas bill
  • Pension order
  • Letter of Allotment of Accommodation Issued by Employer
  • Property / Municipal tax receipt
  • Utility bill
  • Real-time image / photograph
  • Ration card

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

How to apply for a personal loan online?

  • Step-by-step guide to apply for a personal loan

    1. Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
    2. Enter your 10-digit mobile number and the OTP sent to your phone.
    3. Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
    4. Now, click on ‘PROCEED’ to visit the loan selection page.
    5. Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid Term Loan.
    6. Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
    7. Complete your KYC and submit your application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents

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Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of Interest per annum

10% to 31% p.a.

Processing fees

Up to 3.93% (Inclusive of applicable taxes) of the loan amount.

Flexi Facility Charge

Term Loan – Not applicable

Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)

  • Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
  • Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
  • Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
  • Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
  • Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
  • Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
  • Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
  • Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
  • Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*All the Flexi facility charges above are inclusive of applicable taxes

*Loan amount includes approved loan amount, insurance premium, and VAS charges.
Principal Holiday Facility Fees
  • Up to Rs.1999/- for loan amount less than Rs.2,00,000
  • Up to Rs.3999/- for loan amount from Rs. 200000 to Rs.399999
  • Up to Rs.5999/- for loan amount from Rs. 400000 to Rs.599999
  • Up to Rs.7,999/- for loan amount from Rs. 600000 to Rs.999999
  • Up to Rs.8,999/- for loan amount from Rs.10,00,000 to Rs. 1499999
  • Up to Rs. 9999/- for loan amount from Rs. 15,00,000 to Rs.19,99999
  • Up to Rs.10,999/- for loan amount from RS. 20,00,000 to RS.2499999
  • Up to Rs.11,999/- for loan amount from RS.25,00,000 to RS. 29,99999
  • Up to Rs. 12,999/- for loan amount of Rs.30,00,000 and above

Above charges are inclusive of applicable taxes & will be deducted upfront from loan amount

*(Loan amount includes approved loan amount, Insurance Premium & VAS Charges)

Bounce charges

Up to Rs. 1,200/- per bounce
“Bounce charges” shall mean charges for (i) Dishonor of any payment instrument; or (ii) Non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Pre-payment charges

Full Pre-payment:

Foreclosure can be processed post clearance of first EMIs.

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
  • Flexi Term Loan (Flexi Dropline): Up 4.72% (Inclusive of applicable taxes) of the Dropline limit as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) of the Dropline limit as per the repayment schedule as on the date of full prepayment.

Part Pre-payment:

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Term Loan.

Penal charge

 Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not Applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges

Flexi Hybrid Term Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit during Initial Tenure. Up to 0.295% (Inclusive of applicable taxes) of Dropline limit during Subsequent Tenure

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

Our Flexi loan variants

Loan variant

What is it

Flexibility

Withdrawals

EMIs

Part-prepayment Charges

Flexi Facility Charges

Flexi Hybrid Term Loan

Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged during the initial tenure, only on the amount utilised.

Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant.

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

No part-prepayment charges.

Nominal Flexi facility charges applicable.

Flexi Term Loan (Flexi Dropline)

Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration.

Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan. 

Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Fixed EMIs only on the withdrawn amount.

No part-prepayment charges.

Nominal Flexi facility charges applicable.

Term Loan

There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. Repayments are made through Fixed monthly repayments including interest and principal for a fixed loan tenor and / or Interest only payment in initial tenure and Fixed monthly repayments including interest and principal for subsequent tenure.

Fixed loan structure and repayment schedule. Less flexible than our Flexi Term Loan (Flexi Dropline) or flexi hybrid Term loans.

Single disbursement of the loan amount.

Fixed EMIs on the disbursed amount.

Nominal part-prepayment charges applicable.

No Flexi facility charges.

Frequently asked questions

What is the minimum and maximum loan that I can get?

You can get a personal loan ranging from Rs. 40,000 to Rs. 55 lakh Inclusive of insurance premium, VAS charges, Flexi facility charges, and processing fees without pledging any collateral.

What are the uses of personal loan?

You can take a Bajaj Finserv Personal Loan for several scenarios such as:

Our instant personal loan comes with no end-use restrictions, allowing you to meet a wide variety of expenses comfortably. Getting an emergency loan online can help you manage difficult situations without worrying about finances.

What are the eligibility criteria for a personal loan?

To get a quick personal loan, you only need to meet a few basic personal loan eligibility criteria:

 

  • You must be between 21 years and 80 years* of age
  • You must be a salaried individual employed with an MNC, public or private company
  • You must be a residing citizen of India
  • If you meet the salary requirement based on your city of residence, you can qualify for the loan.

 

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

You will be asked to submit the following documents to get a personal loan from Bajaj Finserv:

 

  • passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
  • PAN card
  • Employee ID card
  • Salary slips of the last 3 months
  • Bank account statements of the previous 3 months
  • Piped gas bill
  • Pension order
  • Letter of Allotment of Accommodation Issued by Employer
  • Property / Municipal tax receipt
  • Utility bill
  • Real-time image / photograph
  • Ration card

 

Here is why you should choose a Bajaj Finserv Personal Loan

*Terms and conditions apply

What is the rate of interest per annum and repayment tenure of personal loan offered by Bajaj Finance Limited?

The rate of Interest per annum (% p.a.) is the cost that the borrower must pay for money borrowed from the lender. The interest is payable on principal loan amount basis the loan tenure opted. Bajaj Finance Limited offers personal loans with a rate of interest per annum ranging from 10% to 31% p.a. which can be repaid over tenures between 12 months to 96 months.

For instance, Priya took a personal loan of ₹1 lakh at a rate of interest per annum of 15% p.a. for a tenure of 12 months. In this scenario, Priya’s annual interest payable will be around ₹8,310 and her monthly EMI shall be around ₹9,026. Here, she will be repaying around ₹1,08,310 in total during the loan tenure towards principal and interest component, apart from other charges applicable, if any.

*Terms and conditions apply.

How is personal loan interest calculated?

Lenders provide an interest rate when you opt for a personal loan. The personal loan interest rate depends on several factors including CIBIL Score, income, debt-to-income ratio, employment stability etc. Once you know the interest rate, you can use the interest calculator to know your EMI outflow.

How long does it take to get approved for a personal loan?

With Bajaj Finance Limited, you can expect instant approval on your personal loan application.

How can I repay my personal loan?

You can repay your personal loan in the form of EMIs (equated monthly instalments). Here, a fixed amount is automatically deducted from your bank account every month. You can set up a NACH mandate with your bank to pay the EMIs.

Why should you choose a Bajaj Finance Personal Loan?

Here are some reasons to choose the Bajaj Finserv Personal Loan:

  • Loan amount of up to Rs. 55 lakh
  • Flexible tenures of up to 96 months
  • Money in your account within 24 hours* of approval
  • No guarantor or collateral needed
  • No hidden charges

*Terms and conditions apply.

How to choose the best online personal loan in India?

To choose the best personal loan in India, compare interest rates, processing fees, and tenure across multiple lenders. Assess your credit score and eligibility. Consider hidden charges, repayment flexibility, and customer reviews. There are many personal loan finance companies, but you should opt for a reputable lender with favourable terms and transparent policies that align with your financial needs and capabilities.

How does personal loan balance transfer work?

A personal loan balance transfer involves transferring your existing personal loan to another lender offering lower interest rates or better terms, reducing your overall interest burden and monthly EMI. This helps in saving money and improving loan manageability.

How do I qualify for a personal loan without security?

Since our personal loan is unsecured, it is a loan without security. You do not have to pledge collateral such as property or gold to get our personal loan.

What is a personal loan?

A personal loan is an unsecured loan you can use for various needs like travel, weddings, or emergencies, repaid through fixed monthly instalments.

Do I need to provide a security or collateral to apply for a personal loan from Bajaj Finance?

No, Bajaj Finserv Personal Loans are unsecured, so you don’t need to provide any security or collateral to apply.

Does a personal loan offer tax benefits?

Generally, personal loans don’t offer tax benefits.

How does a personal loan work?

You borrow a fixed amount and repay it in EMIs over a chosen tenure. Interest is charged on the principal, and no collateral is required.

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What our customers say about us

32 million+ Customers
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4.3 million+ Reviews
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Aditi Chaturvedi

Reviewed on 09 May 2025

Great service! I used the Bajaj Finance app to apply for a personal loan for a vacation abroad. The entire process was digital and took just a few minutes. The money was in my account within time.

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Panic786 Prem

Reviewed on 09 May 2025

Super impressed with Bajaj Finance! I applied for a personal loan to manage some unexpected business expenses, and the instant approval saved me a lot of time. Very reliable service.

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Prerna Roy

Reviewed on 09 May 2025

Applied for a personal loan from Bajaj Finance was a smooth experience. I needed funds urgently for a medical emergency, and their quick approval and disbursal helped me manage everything on time.

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Aadya Jaiswal

Reviewed on 09 May 2025

I chose Bajaj Finance for a personal loan to take up online courses for upskilling. The process was quick, the terms were clear, and the flexible EMIs made it easy to repay without stress.

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Shubham Kumar

Reviewed on 09 May 2025

I’ve taken loans from other lenders before, but Bajaj Finance stood out with its fast processing and responsive customer care. I got the funds I needed for urgent home repairs without any trouble.

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Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.