How to Get a Personal Loan Without Security

How to Get a Personal Loan Without Security

You can get a personal loan without security by applying for an unsecured loan that does not require you to pledge property, gold or other assets as collateral. Your eligibility is assessed using factors such as income, CIBIL Score, employment and repayment capacity.
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Rs. 40,000 - Rs. 55 lakh

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Last reviewed: September 2026


In Summary

A Bajaj Finance Personal Loan gives you funds from Rs. 40,000 to Rs. 55 lakh through a 100% online process. 


  • Repayment tenure: 12 months to 108 months
  • Interest rate: 10% and 30.5% per annum.
  • CIBIL Score: 650 or higher 
  • Disbursal: Within 24 hours*  of document verification
  • Collateral: Not required — fully unsecured loan
  • Eligibility: Salaried or self-employed Indians aged 21 years to 80 years*

You should compare the EMI, total repayment, interest rate and applicable charges before accepting an unsecured personal loan. You can check your eligibility using only your mobile number and OTP, without visiting a branch.

What is a personal loan without security?

A personal loan without security is an unsecured loan that does not require you to pledge an asset as collateral. Your application is assessed based on your financial and credit profile rather than the value of a pledged asset.


For example, you do not need to provide property papers or gold as security for a Bajaj Finance Personal Loan.


The absence of collateral does not remove your repayment obligation. You must repay the loan through the agreed EMIs and comply with the applicable loan terms.


✅  Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within 24 hours*.

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How can you get a personal loan without security?

You can get a personal loan without security by meeting the applicable eligibility criteria, submitting the required documents and completing the online application process.


Follow these steps:


  1. Check your loan eligibility – Visit the personal loan section on the Bajaj Finance website, enter your required loan amount, select the repayment period, and click "CHECK LOAN OFFER" to check your eligibility. 
  2. Enter your personal details – Provide your personal, financial and employment details to receive a personalised loan offer. 
  3. Review your loan offer – Check your offer details and adjust the loan amount or repayment tenure, if required. 
  4. Complete your KYC verification – Verify your identity and bank details to proceed with your application. 
  5. Speak to a loan specialist – After you submit your loan application, a representative will contact you regarding the next steps.
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What eligibility criteria do you need to meet?

You need to meet the applicable age, employment and credit criteria to apply for a Bajaj Finance Personal Loan.


NationalityIndian
Age21 years to 80 years
Employed withPublic, private, or MNC.
CIBIL Score650 or higher.
Customer profileSelf-employed or Salaried

You should be 80 years or younger at the end of the loan tenure. Meeting the stated criteria does not by itself guarantee approval or a specific loan amount.

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How much can you borrow without security?

You can apply for a Bajaj Finance Personal Loan from Rs. 40,000 to Rs. 55 lakh without pledging collateral, subject to eligibility and applicable terms.


The amount you should borrow depends on your financial requirement and ability to repay the EMI.


For example, if your requirement is Rs. 2 lakh, taking Rs. 5 lakh would increase your monthly repayment and total interest even if you are eligible for the higher amount.


With a Bajaj Finance Personal Loan, you can get the funds within 24 hours* of approval. Check your offer in just 2 steps and apply online to get our loan.

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What documents do you need for an unsecured personal loan?

Documentation requirements for a Bajaj Finance Personal Loan are minimal. Five document categories are required at the time of application:


Document CategoryAccepted Options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt


 

Know more about the personal loan documents required during application.

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Does your CIBIL Score matter without security?

Yes, your CIBIL Score can form part of the eligibility assessment for an unsecured personal loan, even when you are not pledging an asset as security. Since the lender does not have collateral to rely on, your credit profile can be one of the factors considered when assessing the application.


A CIBIL Score of 650 or higher is part of the stated eligibility criteria for a Bajaj Finance Personal Loan. However, meeting this score requirement alone does not determine eligibility. The lender may also consider factors such as income, employment details, existing financial obligations, repayment history and other applicable criteria.


Your CIBIL Score can also affect the terms offered to you, including the applicable interest rate, subject to the lender's assessment and terms.


It is important to note that a higher CIBIL Score does not guarantee loan approval or a particular interest rate. Applicants should review the complete eligibility criteria and applicable loan terms before applying.

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What interest rate applies to an unsecured personal loan?

The interest rate for a Bajaj Finance Personal Loan ranges from 10% and 30.5% per annum, subject to the applicable offer and terms.


You should check the applicable interest rate before accepting the loan because it affects both your EMI and total repayment.


For example, if you borrow Rs. 5 lakh at an interest rate of 15% per annum for a tenure of 36 months, the approximate monthly EMI would be Rs. 17,333. Over the full tenure, you would make 36 EMI payments, taking the total repayment to approximately Rs. 6.24 lakh.


This means the approximate interest component over the loan tenure would be Rs. 1.24 lakh. The actual repayment may vary based on the final interest rate, loan terms and applicable fees. Processing fees and other applicable charges are not included in this calculation.

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How does the EMI work for a personal loan without security?

our EMI depends on the loan amount, interest rate and repayment tenure.


You can use this formula:


EMI = P × r × (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1]

Where:

  • P = principal loan amount
  • r = monthly interest rate
  • n = number of monthly instalments

For a Rs. 5 lakh loan at 15% per annum for 36 months:

ParticularApproximate value
Loan amountRs. 5 lakh
Interest rate15% per annum
Tenure36 months
EMIRs. 17,333
Total repaymentRs. 6.24 lakh
Total interestRs. 1.24 lakh

The calculation excludes applicable fees and charges.

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How can you apply for a personal loan without security?

You can apply online by completing the following steps:


  1. Check your loan eligibility – Visit the personal loan section on the Bajaj Finance website, enter your required loan amount, select the repayment period, and click "CHECK LOAN OFFER" to check your eligibility. 
  2. Enter your personal details – Provide your personal, financial and employment details to receive a personalised loan offer. 
  3. Review your loan offer – Check your offer details and adjust the loan amount or repayment tenure, if required. 
  4. Complete your KYC verification – Verify your identity and bank details to proceed with your application. 
  5. Speak to a loan specialist – After you submit your loan application, a representative will contact you regarding the next steps.

Bajaj Finance provides an online application process, so you can check your eligibility without pledging an asset as security.

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi 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 30.5% p.a.

Processing fees

Up to 4.13% 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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Frequently asked questions

Overview

Which loan has no security?

An unsecured personal loan does not require you to pledge an asset as security. Approval depends on factors such as income, credit profile, repayment history and eligibility.

Yes, personal loans are generally unsecured and do not require collateral. Lenders assess your income, credit history, existing obligations and other eligibility factors before making a decision. You can check your eligibility using only your mobile number and OTP, without visiting a branch.

To get an unsecured loan, meet the lender's eligibility criteria, submit the required documents, provide income and employment details, and complete the lender's verification process.

You can consider an unsecured personal loan, which does not require collateral. The lender may assess your income, CIBIL Score, repayment history and existing financial obligations.

An unsecured personal loan generally does not require collateral or a guarantor. However, requirements can vary by lender and applicant profile, so applicable loan terms should be checked. You can check your eligibility using only your mobile number and OTP, without visiting a branch.

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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