Fees and charges on Insta Personal Loan
| Type of fee | Applicable charges |
Rate of interest |
13% to 32% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes) |
| Documentation charges | Not applicable |
Bounce charges |
Rs. 700/- per bounce. |
Penal charge |
Penal Charge - Delay in payment of instalment(s) shall attract Penal Charge of Rs. 8 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Prepayment charges* |
Full prepayment: Part prepayment: *Foreclosure will be processed post clearance of first EMI |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount. |
Broken period interest / Pre monthly instalment interest |
Broken Period Interest/Pre-monthly Instalment interest" shall mean the amount of interest on Loan for the number of day(s) which is(are): |
| Annual Maintenance Charges | Not applicable |
| Cash Collection Handling Charges |
Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs. |
| Cash Deposit Charges |
Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices. |
| Platform Fees |
Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties. |
For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 32%, and 35.40% per annum respectively. Part-prepayment and foreclosure charges are NIL. {Average interest rate is higher than max interest rate, because maximum interest rates was reduced effective 02 May 2024 however average interest rate is computed on a volume weighted basis for last quarter (Apr'24 - Jun'24)}
How to get an Insta Personal Loan
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Frequently asked questions
The processing fee for a Bajaj Finserv Insta Personal Loan may go up to 3.93% of the loan amount (Inclusive of applicable taxes).
When making a part-prepayment, you must account for a fee up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment.
A bounce charge is the penalty incurred when you miss an EMI payment. Bajaj Finserv charges Rs. 700/- per bounce, for every EMI missed. Additionally, delay in payment of instalment(s) shall attract Penal Charge of Rs. 8 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
You can avail of a Bajaj Finserv Insta Personal Loan at a competitive interest rate starting at 13% to 32% p.a.
When foreclosing your loan, you must account for a charge of up to 4.72% inclusive of applicable taxes on the outstanding principal if you have taken a term loan.
CIBIL score: 685 or higher is the minimum CIBIL score required for a personal loan. High CIBIL scores indicate a clean financial track record and help you secure a lower interest rate. Click here to check your CIBIL score for free.
Occupation: Salaried and self-employed individuals may be offered different interest rates because of their income. Often, salaried persons are treated as less risky.
Income: Higher-income helps you get a lower interest rate as lenders can be assured of repayment.
Debt-to-income ratio: Keeping this ratio low helps reduce the risk of default as you will have more funds to pay your EMIs. The interest rate may be lower accordingly.
Age: Younger applicants, with many earning years remaining, may receive more affordable rates than those nearing retirement.
Employment: Being employed at a renowned organisation can help you get a better rate as there is more job and income stability.
Association with the lender: Existing customers may get more favourable interest rates.
You can repay your loan over a tenure from 6 months to 63 months.
The Repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks. A cut in repo rate usually translates to lower borrowing costs such as interest rates and EMIs for individuals and banks.
Repo rate affects the interest rate on loans only if you opt for a floating interest rate. Loans offered at fixed interest rates aren’t affected by a repo rate cut.
All the fees and charges will be mentioned in your loan documents. There are no hidden charges.
All the charges related to Insta Loan will be mentioned in your loan documents.
