Insta Personal Loan fees and charges

Read our fees and charges in detail before getting our Insta Personal Loan.

Fees and charges on Insta Personal Loan

Type of fee Applicable charges

Rate of interest

11% onwards

Processing fees

Up to 3.84% of the loan amount (inclusive of GST)

Bounce charges

Rs. 600 - Rs. 1,200 per bounce (inclusive of taxes)

Penal interest

Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 3.50% per month on the monthly instalment/ EMI outstanding from the date of default until the receipt of the monthly instalment/ EMI.

Prepayment charges*

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

Part-prepayment:
4.72% (inclusive of applicable taxes) of principal outstanding.

Stamp duty

At actuals (as per state)

Mandate rejection charges

Rs. 450 (inclusive of applicable taxes) per month from the first month of the due date for the mandate rejected by the customer's bank until the new mandate is registered.

Broken period interest/ pre-EMI 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.

*Part-prepayment should be more than one EMI.

How to get an Insta Personal Loan

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 3.84% of the loan amount plus taxes.

Is there a charge applicable on part-prepayments?

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

What does bounce charge mean?

A bounce charge is the penalty incurred when you miss an EMI payment. Bajaj Finserv charges between Rs. 600 - Rs. 1,200 per bounce (inclusive of applicable taxes), for every EMI missed. Also, in case of late payment or EMI(s) default, penal interest will be levied at a rate of 3.50% - 3.50%.

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 11%.

What is the foreclosure charge for Insta Personal Loans?

When foreclosing your loan, you must account for a charge of 4.72% plus 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: 750 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 of up to 84 months. That is, you can space out your EMIs over a maximum of 7 years.

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.

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