Submitting the form starts the lender's checks, and this is where most of the time goes. For an online application, the lender verifies your identity, reads your credit report and compares your stated income with your bank records. If more papers are needed, such as recent salary slips or bank statements, you are told what to upload.
Once the checks are complete and the loan is approved, you see the final offer. You accept it along with the Key Fact Statement, which sets out the rate, fees and repayment schedule, and you sign the agreement electronically. Then you set up the repayment mandate, and the money is sent to your bank account. The online application itself is the shortest part of this. What decides the overall time is how cleanly your records match.
Imran's application
Imran, 29, tracks stock for a pharmacy chain in Indore as a salaried analyst. His monthly pay is Rs. 42,000 and his CIBIL score is 731. Eye surgery for his mother, plus dental work, called for Rs. 1.15 lakh. He kept his salary slip, PAN and bank details ready, completed the online application in one sitting at an illustrative 15.25% per annum, and weighed 2 tenures for the equated monthly instalment (EMI).
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. Here P = Rs. 1,15,000, R = 15.25 ÷ 1,200 and N = months.
| Tenure | Monthly EMI (Rs.) | Total interest (Rs.) | EMI as share of salary (%) |
|---|
| 12 months (1 year) | 10,393 | 9,719 | 24.7 |
| 18 months (1.5 years) | 7,188 | 14,380 | 17.1 |
Last updated: 26th October, 2026
Moving to 18 months frees Rs. 3,205 each month, against Rs. 4,661 in added interest. Processing would take no more than Rs. 4,750. Imran chose 18 months to keep a margin for follow-up visits.
What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.
Starting an online application? With a Bajaj Finance Personal Loan, you can borrow Rs. 40,000 to Rs. 75 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.
