Loan Types
Calculator
FAQs
Video
Rs. 40,000 - Rs. 55 lakh
You may be eligible for a pre-approved offer
Enter mobile and OTP | Check offer | No branch visit needed
A personal loan can help manage planned and unexpected expenses without requiring collateral. However, lenders assess several factors before approving an application. These may include income, existing financial obligations, credit history and repayment behaviour.
A strong financial profile can help you present a more favourable application. The following habits can help you manage your finances and prepare for a personal loan application.
With a Bajaj Finance Personal Loan, you can get funds from Rs. 40,000 to Rs. 55 lakh. Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
Tips to improve your chances of getting a personal loan
1. Pay EMIs and bills on time
Timely repayment of existing EMIs and bills can help maintain a healthy credit history. Missed or delayed payments may negatively affect your CIBIL Score and can indicate a higher credit risk to lenders.
Set up payment reminders or automatic payment instructions to reduce the risk of missing due dates. Before taking a personal loan, use a personal loan EMI calculator to estimate the monthly repayment and assess whether the EMI fits your budget.
2. Use credit cards responsibly
Using multiple credit cards is not necessarily harmful, but carrying high outstanding balances or frequently using a large portion of the available credit can affect your credit profile.
Keep track of spending across all cards and pay the dues on time. Avoid taking on new credit unless it is necessary. Maintaining manageable credit card balances can also help you keep your overall debt under control.
3. Manage discretionary spending
Review your monthly expenses and separate essential costs from discretionary spending. Frequent dining out, expensive purchases and other non-essential expenses can reduce the amount available for savings and loan repayments.
Creating a monthly budget can help identify areas where spending can be reduced. The money saved can then be used to build an emergency fund or meet future financial commitments.
4. Manage existing liabilities
Existing loans and other financial commitments form part of your overall debt burden. Before applying for another loan, review your current EMIs and outstanding balances to understand how a new repayment would affect your monthly budget.
Avoid taking on more debt than you can comfortably repay. If you are considering a new personal loan, compare the loan amount, interest rate, tenure and applicable charges before making a decision.
5. Check your CIBIL Score and credit report
Checking your CIBIL Score and credit report before applying for a personal loan can help you understand your current credit profile. Review the report for incorrect personal details, unfamiliar accounts or payment information that may need correction.
If you identify an error, raise it with the relevant credit institution before making a loan application.
6. Choose a suitable loan amount and tenure
Borrow only the amount required for your financial need. A higher loan amount may result in a higher EMI and greater overall interest costs.
Choosing an appropriate tenure can also help you manage repayments. A longer tenure may reduce the monthly EMI but can increase the total interest paid over the loan period. Use a personal loan EMI calculator to compare different combinations before applying.
7. Keep your documents and information updated
Providing accurate information and the required documents can help make the application process smoother. Depending on the lender and applicant profile, documents may include identity, address, income and bank-related details.
Check that the information provided in the application matches the supporting documents to avoid unnecessary delays.
A personal loan application is assessed based on the lender's eligibility criteria and the applicant's financial profile. Maintaining timely repayments, managing existing debt and choosing a suitable loan amount can help you prepare for the application.
Bajaj Finance Personal Loan offers loan amounts ranging from Rs. 40,000 to Rs. 55 lakh, with a tenure of 12 months to 108 months. Interest rates range from 10% and 30.5% p.a., subject to applicable terms and the borrower's profile. No collateral is required, and minimal documentation may be needed. Disbursal can be completed within 24 hours*, subject to applicable conditions.
You can check your pre-approved offer to view the offer available to you. A pre-approved offer is subject to applicable eligibility criteria and terms.
Key offerings: 3 loan types
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) |
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:
Part Pre-payment
|
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.
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 fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up 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. |
Not your nearest branch?
Frequently asked questions
Overview
Maintain a healthy CIBIL Score, repay existing EMIs on time, manage your debt, provide accurate documents, and choose a loan amount suited to your repayment capacity. Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
Good financial habits include paying EMIs and bills on time, maintaining a budget, saving regularly, managing debt responsibly, monitoring your CIBIL Score, and avoiding unnecessary borrowing.
Related articles
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