2 min read
25 May 2021

An immediate need for funds can crop up at any time. You may need money to take care of a medical emergency, for instance, or to consolidate your credit card debt. Bajaj Finance, one of India’s leading Non-Banking Financial Companies, brings you a digital personal loan that can be availed right from your home.

What is a digital personal loan

An instant digital loan is a credit form you can apply for online, and get funds disbursed to your account in a short span of time. Our Insta Personal Loan works exactly like this.

No queues, no processing delays, no documentation, and no collateral – just money kept ready for you, available whenever you need it. All you have to do is check your pre-approved offer from Bajaj Finance and select the amount you wish to borrow. The funds will be transferred to your account instantaneously – in just 24 hours.

Key features and benefits of a digital personal loan

Here is how this instant digital personal loan gives you an easy and affordable way to meet sudden expenses.

1. You can get the money you need instantly

Existing customers of Bajaj Finance can avail of their exclusive pre-approved offer to get money with just two clicks. With a quick personal loan disbursal process in India, Bajaj Finance then deposits the funds in your bank account immediately, so you can get money right when you need it.

2. Minimal paperwork means no processing delays

This personal loan offering by Bajaj Finance can be availed online. Having a pre-approved offer also means that your details have been verified, and you do not need to submit any paperwork, income proof, or other documentation to avail of funds.

Additional read: Benefits of Bajaj Finserv Personal Loan

The smooth online process also means that you can get funds anytime you want, whether late on a Sunday night or a Wednesday afternoon. That too, without even leaving your couch.

3. A high loan sanction helps you meet expenses easily

When you choose a personal loan, you do not just get your money quickly – you also get ample funds for your needs, based on how well you meet the personal loan eligibility criteria. You can then use these funds for any purpose without any restriction.

The loan can be used to deal with the cost of home renovation, higher education, medical care, travel, and weddings, and even to consolidate your debts and make them easier to repay.

4. You can get a loan without collateral

There is no requirement for collateral from your end to make the digital loan even more convenient and easy to avail of. With no extra paperwork involved in verifying your assets as security against the loan, you can get money quickly without adding to your financial burden.

5. No hidden fees or charges

Digital personal loans from Bajaj Finserv come with clearly stated fees and charges and attractive interest rates on personal loans that make them easy to repay. However, you must read the loan agreement carefully and go through all the charges listed in it to be aware of every aspect of your borrowing.

Additional read: How to lower your EMIs by 45%?

Some of the charges you should pay attention to include the secure fee, processing fee, EMI bounce charges, fees for part-prepayment and foreclosing the loan, and penal interest.

6. Flexible repayment plans

You get tenure that ranges up to 96 months when you take a personal loan. You also get the option to pay just the interest on the loan as your EMIs, for the initial part of the tenure, when you choose the Flexi facility. This reduces your personal loan EMIs by up to 45%*, thus making it even easier for you to manage your finances.

Eligibility criteria for digital loans

Since our Insta Personal Loan provides pre-approved offers, you do not have to check specific eligibility criteria. We extend pre-approved offers to our customers only after assessing several parameters to determine their creditworthiness.

Documents required to apply for an instant digital personal loan

You require the below documents to apply for our personal loan:

  • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • PAN card
  • Employee ID card
  • Salary slips of the last 3 months
  • Bank account statements of the previous 3 months

What are the most common uses of instant digital loan?

One of the advantages of an instant digital loan is the flexibility in end-use. Some of the common uses include:

  • Medical emergency
  • Wedding
  • Higher education
  • Home renovation and repair

How to apply for a digital personal loan online

To check your Insta Personal Loan offer, you simply need to enter the mobile number and OTP. Once you see the offer, you just have to complete the online digital loan process by filling out an application form. Once done, the loan amount will be disbursed within a short time.

You can also use the EMI Calculator available on the website to find your exact EMI, tenure, and interest rate before you opt for a personal loan.

With these benefits, Bajaj Finserv Personal Loans are the ideal choice for when you need funds in an instant. Avail of your pre-approved offer now and get a deal that is customised to your needs instantly.

While care is taken to update the information, products, and services included in or available on our website and related platforms/websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/service document and applicable terms and conditions. In case any inconsistencies observed, please click on reach us.

*Terms and conditions apply

Frequently asked questions

Can I get a digital personal loan if my salary is Rs. 15,000?

The minimum salary requirement for a digital loan varies from lender to lender. In case your salary does not meet the lender’s requirement, you can choose to include a co-applicant to boost the chances of approval. You can also check if you have a Bajaj Finance Insta Personal Loan offer.

What is the minimum salary to get a digital personal loan?

The eligibility criteria vary based on the lender. The minimum salary required to get a Bajaj Finance Personal Loan is Rs. 25,001.

Who can apply for a digital personal loan?

Digital personal loans work just like regular loans. Both existing and new customers can check their Insta Personal Loan offer by entering their mobile number and OTP.

How quickly can I get a digital personal loan?

Since the process is online, digital personal loans are disbursed quickly. You can get our Insta Personal Loan within just 30 minutes* to 4 hours.

*Applicable for select customers

Can I get a digital personal loan without salary?

Both salaried and self-employed individuals can opt for our Insta Personal Loan.

What is the interest rate of digital loan?

Our Insta Personal Loan comes with competitive interest rates ranging from 13% to 35% p.a.

How quickly can I get the instant digital loan?

You can get our personal loan within 24 hours*.

*Terms and conditions apply

How much processing fees is charged on instant digital loan?

The processing fee for our personal loan is up to 3.93% of the loan amount (inclusive of applicable taxes). Please read all the fees and charges carefully before applying for our personal loan.

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