2 min read
25 May 2021

When an unexpected expense crops up, a personal loan can seem like the ideal way to manage your financial crunch. From a higher insurance premium to unexpected medical costs, travel, a wedding, urgent home repairs or anything else, an online personal loan can come to your rescue at a moment’s notice.

Here are the four simple steps you need to follow to avail of a Bajaj Finserv Personal Loan:

1. Fill up our simple online application form

If you are an existing customer of Bajaj Finserv, you only need to verify your details and avail of your pre-approved offer.

If you are new to Bajaj Finserv, you can apply for a personal loan online by completing our simple online form. Just fill in your personal, financial, and employment details. Minimum net salary as per the city of residence and age are a few of the criteria for personal loan eligibility.

2. Select your loan amount and tenor

The next step is to fill the desired loan amount and tenor to get instant online approval. If you are unsure which tenor to choose or what EMIs you need to pay, you can use the personal loan EMI calculator and manage accordingly.

Bajaj Finserv also offers Flexi term loans and Flexi interest-only loans. Each of them has its calculators to help you understand your EMI payments. Depending on your payment capability, you can choose one of these loan facilities. In a Flexi term loan, the EMIs consists of both the interest and the principal. However, if you want lower EMIs, you can repay the principal at the end of the loan tenor with a Flexi interest-only loan. In this facility, the EMIs comprise only the interest component.

The personal loan eligibility calculator will give you an idea of the maximum loan amount you can borrow based on specific criteria such as:

  • Your salary
  • Combined monthly loan EMIs
  • Combined outstanding on credit card

3. Submit your documents

Bajaj Finserv provides doorstep service, where the representatives visit your premises and collect the documents. Since the Personal Loan is collateral-free, you only need to submit your basic paperwork.

Some of these documents include:

  • KYC documents
  • Employee ID card
  • Salary slips of the previous 12 months
  • Bank account statements of your salary account for the previous 3 months

Some customers may be asked to submit additional documents at the time of loan processing.

Additional Read: What are the fees and charges involved in a personal loan

4. Quick loan disbursal

Once the documents are submitted, you receive the money in your bank account within 24 hours. That’s all it takes. Now that you know how easy it is to avail of funds, apply for an unsecured personal loan from Bajaj Finserv. All it takes is four simple steps.

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