Bajaj Finserv Loans - A detailed guide

A loan is a financial resource that you can use it for emergencies, home renovation, family weddings, higher education or even to fund an overseas vacation. Bajaj Finserv offers a plethora of loan options that help you meet your various monetary needs affordably. Here’s a rundown on the Bajaj Finserv loan variants that you can avail as and when you need them.

Types of Loans

Secured and Unsecured

Loans are broadly classified as secured loans and unsecured loans, based on whether or not you need to offer an asset as security to avail the loan. Secured loans, like home loan, loan against property, and offer a large loan amount at competitive rates. Conversely, unsecured loans like personal loan, business loan etc. are collateral-free offering and you can apply for these loans easily, by qualifying basis simple eligibility terms.

Here’s a look at 4 Bajaj Finance Loans you can apply for.

Bajaj Finserv Home Loan

Bajaj Finserv offers home loan up to Rs. 15 crore* based on your eligibility of Rs. 5 crore* or higher based on your eligibility, to purchase your dream house, construct a new one or renovate your existing premise without pinching pennies. The interest rate for this loan is competitive, and you can opt for the easy balance transfer facility to refinance an existing home loan that has a high interest rate. Moreover, this loan also entitles you to a top-up loan of up to Rs. 1 Cr* that you can use to meet ancillary housing expenses or other expenses that require funding over the course of the tenor.

This Bajaj Finserv loan is designed to suit various financial profiles and you can make repayment easy by opting for a tenor of up to 240 months once you determine your EMIs with the EMI calculator. When you use this home loan, you can claim tax exemptions under Sections 80C and 24B of the Income Tax Act. What’s more, by applying for the home loan under the Pradhan Mantri Awas Yojana, you can claim a subsidy of up to Rs. 2.67 lakh on the home loan interest rate.

Bajaj Finserv Loan Against Property

A Bajaj Finserv Loan Against Property is a secured loan that you can avail by mortgaging residential or commercial property that you own. You can use the loan to fund umpteen high-value needs without any restrictions. You can use it to grow your business, fund medical emergencies, pay for home renovation, or use it to finance your children’s education and wedding.

With Bajaj Finserv, you get to borrow a loan on terms suited to your financial profile. Here you can select a customised loan for salaried or self-employed, depending on your employment status. While you can access funding of up to Rs. 15 crore* as a salaried individual and up to Rs. 15 crore* as self-employed personnel in just 4 days, the final amount of the loan will depend on the property’s market value and the loan-to-value ratio. Pledging a high value property will allow you to secure a loan amounting to 70% to 80% of your property’s worth.

Similar to a home loan, you can repay this Bajaj loan over a tenor of up to 40 years, carry out a balance transfer and obtain a top-up loan to meet additional expenses. Further, you can opt for the Flexi Dropline feature to borrow from your sanction on the go, while paying interest only on the amount utilised. You also have the option to pay interest-only EMIs to manage cash flow better.

Bajaj Finserv Personal Loan

The Personal Loan from Bajaj Finserv is a collateral-free financing option that gives you access to up to Rs. 40 lakh on competitive terms, almost instantly. Once you get approval, you can get money in your bank within 24 hours and enjoy the Flexi facility too. To obtain this loan, all you need to do is meet the simple eligibility criteria, submit basic documents, and then choose a flexible tenor of 12 to 60 months for repayment.

Bajaj Finserv Business Loan

You can get financial assistance of up to Rs. 80 lakh on flexible terms with the Bajaj Finserv Business Loan and thereby address your professional needs and goals effectively. The offering does not require security and you can apply for it using just 2 documents. Further, the loan is approved within 24 hours and gives you access to the Flexi facility too.

Bajaj Finserv Loans - Features and Benefits

When you avail any loan from Bajaj Finserv, you can get quick approval and access the finance easily, by completing a short online application procedure. Apart from the easy eligibility criteria and documentation requirements, Bajaj Finserv offers value-added benefits with its Home Loan and Loan Against Property.

In case of a Bajaj Finserv Home Loan, you can avail benefits such as customised insurance schemes to protect your family from the burden of loan repayment in case of any unavoidable circumstances. You can also make use of the property dossier, which is a document that helps you navigate the legal and financial aspects associated with home-buying. On the other hand, if you opt for a Bajaj Finserv Loan Against Property on a floating interest rate, you can enjoy part-prepayment or foreclosure facility with no processing charges. Moreover, both loans allow online account management through the Bajaj customer portal login. This customer portal allows you to track your loan status and view pertinent loan-related details, all at one place at anytime, anywhere.

To make loans even more accessible to you, Bajaj Finserv extends pre-approved offers that help you obtain financing on customised terms. For instance, you can check your pre-approved Home Loan offer to get access to a housing loan that’s tailored to your financial capabilities. Should you choose to apply using your pre-approved offer, you can get financing in just a few clicks.