How to Apply for Personal Loan

How to Apply for Personal Loan

Check your pre-approved offer online and complete the application in just 5 minutes. With quick approval and minimal documentation, eligible borrowers may receive funds in 24 hours*
Loan Types

Loan Types

Calculator

Calculator

FAQs

FAQs

Video

Video

Rs. 40,000 - Rs. 55 lakh

Calculate your EMIs

You may be eligible for a pre-approved personal loan offer

Check now

Enter mobile and OTP | Quick online approval | Get money in a day*

Steps to apply for a personal loan

Follow the simple steps to find out exactly how much you can borrow and complete your application online in just 5 minutes.


  1. Simply check your pre-approved offer by entering your mobile number and OTP.
  2. Go ahead with your pre-approved offer or enter the amount you need to borrow.
  3. Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. Enter the loan amount that you need. Choose from our personal loan variants.
  5. Choose the repayment tenure - you can select tenure options of 12 months to 108 months and click on ‘PROCEED’.
  6. Complete your KYC and submit your application.


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

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Benefits of choosing Bajaj Finance Personal Loan

Choosing the right lender plays an important role in managing your finances effectively. Bajaj Finance offers a personal loan solution designed for convenience, flexibility, and transparency, helping borrowers meet their financial needs with ease.


  • Quick and hassle-free process: Bajaj Finance provides a smooth application journey with fast approvals and minimal documentation, reducing delays and paperwork.
  • Flexible repayment tenures: Borrowers can select repayment tenures that align with their income and budget, making EMIs easier to manage.
  • Easy EMI planning: The personal loan EMI calculator helps estimate monthly instalments in advance for better financial planning.
  • Simple eligibility assessment: Applicants can check eligibility quickly using the personal loan eligibility criteria to improve approval confidence.
  • Competitive interest rates: Transparent pricing allows borrowers to review personal loan interest rates and choose affordable repayment options.

With flexible terms, quick processing, and flexible repayment tenure Bajaj Finance Personal Loan provides a reliable and convenient borrowing option to meet diverse financial needs confidently.

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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term (Dropline) Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30% p.a.

Processing fees

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

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 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.

Part-prepayment charges

Full Pre-payment:

  • 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 (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, 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 (Dropline) Loan 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 (Dropline) Loan:

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 0.472% (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

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000