Personal Loan
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What is a Personal Loan Interest Rate
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What is EMI and How Does it Work
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What is a Pre-approved Personal Loan
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When Should You Consider a Personal Loan
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How to Choose the Right Loan Amount
Calculate your personal loan EMI
Key Features
Quick approval in just a few steps, No long waiting or complex process
Flexible repayment options for your needs, Choose tenure between 12 and 108 months
Apply easily without using any assets, as no security is required.
Over 5 crore people across India trust Bajaj Finance for their financial needs.
Personal Loan EMI Calculator
How to apply for a Personal Loan
How to apply for a Bajaj Finance Personal Loan
Apply for a Bajaj Finance Personal Loan online in five simple steps, without visiting a branch.
- Check loan eligibility: Enter the loan amount you need and select the repayment period. Then click on "CHECK LOAN OFFER"
- Enter personal details: Enter your personal, financial, and employment details to receive a personalised offer.
- Loan offer: Review your offer details and adjust the amount or tenure to suit your needs.
- KYC verification: Complete your KYC and verify your bank details for disbursal.
- Talk to loan specialist: Your application will be submitted. An executive will contact you for the next steps in the process.
Types of personal loan
Personal loan for travel
Planning a family vacation, honeymoon or international trip can be exciting but expenses such as flights, accommodation, visa fees and sightseeing can add up quickly. Instead of using your savings a travel loan may help manage these costs more conveniently. It allows you to convert the total expense into manageable monthly EMIs, helping you focus on your travel experience rather than immediate financial pressure.
Personal loan for wedding
A personal loan for a wedding can help you cover major expenses, such as booking the venue, paying caterers, photographers, decorators, and other wedding vendors.
Personal loan for higher education
Pursuing higher education can take a toll on expenses, despite an education loan. You can use a personal loan for higher education to cover the costs of travel, tuition, extra courses, accommodation, and so on.
Personal loan for medical emergencies
With hassle-free application and quick disbursal, a personal loan for medical emergency can help you focus on the situation at hand without worrying about managing the expenses.
Features and benefits of instant personal loan
Explore the key features and benefits of Bajaj Finance Personal Loan including flexible repayment options, quick approval, minimal documentation and high loan amounts.
Features and Benefits of Bajaj Finance Personal Loan
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Three loan variants
Choose from three loan variants — Term Loan, Flexi Dropline Loan, and Flexi Hybrid Loan.
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- No part-prepayment charge on Flexi Loans
Repay a part of your loan in advance at no extra cost. You can make part-prepayments as many times as you want.
Read about Flexi Loans
- No part-prepayment charge on Flexi Loans
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- High loan amount
Borrow from Rs. 40,000 to Rs. 55 lakh to meet small or large expenses.
- High loan amount
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Quick approval
Complete your entire application online from the comfort of your home or wherever you are and get an instant personal loan with fast approval.
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- Money in your account in 24 hours*
Your bank account will be credited with your loan amount within 24 hours* or, in some cases, on the same day of approval.
- Money in your account in 24 hours*
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- No hidden charges
All the personal loan interest rate and charges are mentioned clearly on this page itself and also on our loan documents. We advise you to read these in detail before applying.
- No hidden charges
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- No guarantor or collateral needed
You do not need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.
*Terms and conditions apply
- No guarantor or collateral needed
Personal loan eligibility and documentation
Anyone can apply for our personal loan online, as long as you meet five basic criteria mentioned below. If you meet all the eligibility criteria of our online personal loan, you will need a set of personal loan documents to complete your application process. With the Bajaj Finance Personal Loan, you can get instant approval of amount ranging from Rs. 40,000 to Rs. 55 lakh.
Meet the easy personal loan eligibility parameters and complete your basic documentation to avail the money you need within 24 hours* of approval.
Eligibility Criteria and Documents Required for Bajaj Finance Personal Loan
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Personal loan eligibility criteria
Nationality
Indian
Age
21 years to 80 years.
Employed with
Public, private, or MNC.
CIBIL Score
650 or higher.
Customer profile
Self-employed or Salaried
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Documents required for a personal loan
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Piped gas bill
- Pension order
- Letter of Allotment of Accommodation Issued by Employer
- Property / Municipal tax receipt
- Utility bill
- Phone bill
- Real-time image / photograph
*You should be 80 years or younger, at the end of the loan tenure.
Personal loan interest rate, fees and charges
Compare loan variants
Compare Loan Variants
Apply for a personal loan based on loan amount
Instant personal loan available online in cities
Apply for a personal loan based on your salary
Frequently asked questions
Overview
Application
Repayment
Eligibility
Fees and charges
What is a personal loan?
A personal loan is an unsecured loan that can be used for various personal financial needs, such as medical emergencies, weddings, home renovations, travel, or education.
What are the uses of personal loan?
A personal loan can help you manage a wide range of expenses such as planning a home renovation, funding higher education, covering medical bills or arranging a holiday. Since it is an unsecured loan, you have the flexibility to use the funds for most personal financial needs without providing collateral.
- Personal Loan For Higher Education
- Personal Loan For Medical Emergency
- Personal Loan For Wedding
- Personal Loan For Home Expenses
- Personal Loan For Travel
- Personal Loan For Teachers
- Personal Loan For Government Employees
- Personal Loan For Salaried Employees
- Short term personal loan
- Personal Loan Balance Transfer
- Top Up Personal Loan
- Personal Loan For Debt Consolidation
How is personal loan interest calculated?
You can calculate personal loan interest and the monthly EMI using the standard formula:
EMI = P × R × (1 + R)ⁿ / [(1 + R)ⁿ – 1]
Here, P represents the principal loan amount, R is the monthly interest rate, and N is the repayment tenure in months. You can also use the personal loan EMI calculator to quickly calculate the estimated EMI and total interest payable.
Why should you choose a Bajaj Finance Personal Loan?
You should choose a Bajaj Finance Personal Loan for following reasons:
- Loan amount ranging from Rs. 40,000 -to Rs. 55 lakh
- Flexible tenures ranging from 12 months to 108 months
- Quick disbursal within 24 hours* of approval
- Unsecured loan which means you do not need a guarantor or collateral
- No hidden charges
*Terms and conditions apply.
How does personal loan balance transfer work?
A personal loan balance transfer allows you to move your existing outstanding loan to another lender, usually to access better terms or a more suitable interest rate. The new lender settles the outstanding amount with your existing lender, after which you repay the transferred loan under the new agreement.
Before choosing a balance transfer, compare the new interest rate, processing fees, foreclosure or other applicable charges, repayment tenure and overall cost. A lower interest rate does not always mean lower total borrowing costs. Check the terms carefully and assess whether the transfer suits your repayment needs.
What is a Flexi Personal Loan?
A Flexi Personal Loan consists of two variants—Flexi Dropline Loan and Flexi Hybrid Loan.
The Bajaj Finance Flexi Term (Dropline) Loan gives salaried borrowers a dropline limit from which they can withdraw funds in multiple tranches. You pay interest only on the amount withdrawn, not on the total sanctioned limit. On the other hand, the Flexi Hybrid Term Loan allows you to pay interest-only EMIs initially, followed by principal plus interest EMIs for the remaining tenure, helping manage early-stage cash flow better.
Does a personal loan offer any tax benefits?
No. A personal loan does not offer tax benefits on the principal or interest paid. The repayment amount, including the interest component, is not eligible for a tax deduction.
Why was my personal loan application rejected and what should I do?
A few common reasons for personal loan rejection include:
CIBIL Score below 650
High FOIR (as per lender criteria)
Being on probation at a new job
Document mismatched
Multiple recent loan applications
Past loan settlements or write-offs
Rejection does not affect your CIBIL Score but repeated enquiries can. Identify the issue, fix it and then reapply.
How do I contact Bajaj Finance for any personal loan queries or service requests?
You can contact Bajaj Finance for queries related to personal loan through the official website, customer care helpline number or mobile app. You can also raise service requests online for quick assistance. For more details, visit personal loan customer care.
What are the tips to use your personal loan?
Use these simple tips to manage your personal loan responsibly and keep your borrowing aligned with your financial needs:
Borrow only the amount you need and can comfortably repay.
Compare the interest rate, processing fees and other applicable charges before applying.
Choose a suitable repayment tenure based on your monthly budget.
Keep sufficient funds available for timely EMI payments.
Use the loan for planned expenses and avoid unnecessary borrowing.
What are the do's and don'ts about personal loan?
Do’s:
Check the loan terms, interest rate and applicable charges before applying.
Choose an EMI that fits your monthly budget.
Pay your EMIs on time to maintain a healthy credit profile.
Read the loan agreement carefully before accepting the offer.
Don’ts:
Do not borrow more than you can comfortably repay.
Do not miss or delay EMI payments.
Do not apply for multiple loans without assessing your repayment capacity.
Do not ignore the applicable fees, charges and loan terms.
Do I need to provide a security or collateral to apply for a personal loan from Bajaj Finance?
No, to apply for personal loan you do not need to give any collateral or assets.
Can I apply for a personal loan if I already have an ongoing loan?
Yes, you can apply for another personal loan if you meet the applicable eligibility criteria. Your income, existing obligations, credit history and repayment capacity may be considered.
How can I track my personal loan application?
You can track your personal loan application through My Cart > Track Application. You can also resume your logged-in application journey, contact Sales Personnel, or visit a branch to check your application status.
What is a Flexi day-wise interest calculator?
A Flexi day-wise interest calculator helps you estimate the interest charged each day on the amount you have used from a Bajaj Finance Flexi Loan. It considers the utilised amount, applicable interest rate and repayments made. Since interest is calculated on the amount withdrawn, the calculator helps you understand your estimated daily interest cost and how repayments can affect it.
Can I prepay or foreclose my Bajaj Finance Personal Loan before the tenure ends?
You can easily prepay or foreclose your Bajaj Finance Personal Loan before the end of the tenure.
This loan comes in Term loan variant, and Flexi Loan variants.
For Flexi Personal Loans, there are no part-prepayment charges, and you can part-prepay any time. However, there are foreclosure charges applicable on a Flexi Personal Loan. Please check our fees and charges page or your loan agreement for more details.
For the Term Loan variants, you can part-prepay or foreclose your loan after a lock-in period - please refer to your loan agreement. Also note that part-prepayment and foreclosure charges are applicable on this loan product.
What are the eligibility criteria for a personal loan?
You can easily get our personal loan with the below eligibility criteria:
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 650 or higher.
- Customer profile: Self-employed or Salaried
*You should be 80 years* or younger, at the end of the loan tenure.
*Terms and conditions apply
Can a self-employed person get a personal loan?
Yes. Self-employed individuals can apply for a Bajaj Finance Personal Loan if they meet applicable eligibility criteria, including age, income, nationality and CIBIL Score requirements.
What is the interest rate on Bajaj Finance Personal Loan?
The Bajaj Finance Personal Loan interest rate ranges from 10% to 30.5% p.a., subject to applicable terms and conditions. The rate offered to you may vary based on factors such as your CIBIL Score, income, employment profile, loan amount and repayment tenure. Review the applicable interest rate, fees and other loan terms before accepting the offer.
How is the personal loan processing fee calculated?
Processing fees is a small percentage of your sanctioned loan amount. It is a one -time fee charged to cover administrative and verification expenses. Bajaj Finance charges up to 4.13% of the loan amount (inclusive of applicable taxes).
What factors affect my personal loan interest rate?
The following factors determine the interest rate offered on your personal loan:
(1) CIBIL score — a score of 650 or above typically qualifies for the lowest rates.
(2) Monthly income — higher income signals lower repayment risk.
(3) Employer profile — employees of listed companies or government employees may be eligible for interest rate offers based on the lender’s assessment.
(4) Loan amount and tenure — larger amounts or longer tenures may influence the interest rate offered, depending on the lender’s policy.
(5) Existing relationship — existing Bajaj Finance customers may receive interest rate offers based on the lender’s assessment and prevailing policies.
(6) Debt‑to‑income ratio — a lower existing obligation profile improves your rate eligibility.
Is the Bajaj Finance Personal Loan interest rate fixed or reducing balance?
The Bajaj Finance Personal Loan is offered at a fixed interest rate, starting from 10% per annum. As you repay the principal and interest through EMIs, the outstanding balance decreases, reducing the interest component over time.
What our customers say about us
Customers say
Customers appreciate the easy online process for applying for a Personal Loan. They value the choice of loan amount and repayment tenure based on their needs. Many customers also mention the simple application process, quick processing, and helpful support during the loan journey. The option to access funds without pledging an asset is another feature customers appreciate.
Aasif Sheikh
Reviewed on 05 Aug 2026
Kaafi time se trip plan kar rahe the, bas paise ek saath arrange nahi ho pa rahe the. Bajaj ke through apply kiya aur process kaafi simple laga. Approval jaldi mil gaya, toh bina aur wait kiye bookings kar di. Overall experience kaafi convenient raha.
Bishwajit Yadav
Reviewed on 05 Aug 2026
Emergency mein sabse bura part hota hai paiso ka wait krna, Bajaj Finance mein wo wait nahi karna pada. Apply kiya, approval same din aa gaya, funds bhi turant aagye the bank account me. Process kafi easy tha, Itne jaldi funds mil jayenge socha nahi tha. That is all that mattered, it was available when I needed it.
Aakash
Reviewed on 05 Aug 2026
Business mein ek urgent payment aa gayi thi aur us waqt branch jaane ka bilkul time nahi tha. Isliye Bajaj Finance ke through online apply kiya. Approval jaldi mil gaya aur funds bhi account mein aa gaye. Isse business ka kaam bina kisi interruption ke.
Rupesh Raj
Reviewed on 05 Aug 2026
Kaafi time se ek certification course karna tha, lekin fees ek saath arrange karna thoda mushkil ho raha tha. Isliye Bajaj se apply kiya. Process online tha aur kaafi convenient laga. Approval milte hi funds seedha bank account mein aa gaye, bina kisi unnecessary delay ke. Admission bhi time par ho gayi aur ab main apna course continue kar raha hoon.
Rohan Kumar
Reviewed on 05 Aug 2026
Renovation shuru toh ho gaya tha, lekin beech mein hi budget ka hisaab bigad gaya. Kaam rokna nahi tha, isliye Bajaj Finance se loan liya. Process kaafi simple tha aur funds bhi time par mil gaye. Isse renovation bina delay ke complete ho gaya.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.