Insta Personal Loan Interest Rates and Charges

Read our interest rates, processing fees, and bounce charges in detail before getting our Insta Personal Loan.

Fees and charges on Insta Personal Loan

Type of fee Applicable charges

Rate of interest

13% to 38% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes)

Documentation charges Not applicable

Bounce charges

In case of default of the repayment instrument, Rs. 700/- per bounce will be levied.

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:
Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.

Part prepayment:
Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such 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.

Instalment Default Charge
Rs. 450/- per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered

Broken period interest / Pre monthly instalment interest

It is defined as the amount of interest on the loan for the number of days which are:

Scenario 1 - Over and above 30 days from the date of loan disbursement:

Broken period interest is deducted from the disbursement itself.

Scenario 2 - Less than 30 days from the date of loan disbursement:

Interest on the first instalment will be charged for the actual number of days.

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.
PG Facility Charges
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%, 38%, and 36.79% per annum respectively. Part-prepayment and foreclosure charges are NIL.

How to get an Insta Personal Loan

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Step-by-step guide to get an Insta Personal Loan

  1. Click on ‘CHECK OFFER’ at the top of this page to open our online form.
  2. Enter your 10-digit mobile number and verify your profile with the OTP sent to your phone.
  3. You will see an offer with a pre-assigned loan limit for you. You can either go with it or choose a lower amount.
  4. Select a repayment tenure that suits you best.
  5. Click on ‘PROCEED’ to complete the online process.

The online process may differ depending on whether you are a new customer or have an existing relationship with us.

Note: Some customers may need to submit additional documents to complete their Insta Personal Loan application process.

Frequently asked questions

What is the processing fee for an Insta Personal Loan?

The processing fee for a Bajaj Finserv Insta Personal Loan may go up to 3.93% of the loan amount (Inclusive of applicable taxes).

Is there a charge applicable on part-prepayments?

When making a part-prepayment, you must account for a fee of 4.72% (inclusive of applicable taxes) on the part-prepayment amount made.

What are the EMI bounce charges on Insta Personal Loan?

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.

What is the interest rate for an Insta Personal Loan?

You can avail of a Bajaj Finserv Insta Personal Loan at a competitive interest rate starting at 13% to 38% p.a.

What is the foreclosure charge for Insta Personal Loans?

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.

What are the factors that affect Insta Personal Loan interest rates?

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.

What is the maximum and minimum repayment tenure?

You can repay your loan over a tenure from 6 months to 63 months.

What is the repo rate, and how does it affect Insta Personal Loans?

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.

Do I have to pay any additional charges for an Insta Personal Loan?

All the fees and charges will be mentioned in your loan documents. There are no hidden charges.

How do you calculate Insta Loan fees?

All the charges related to Insta Loan will be mentioned in your loan documents.

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