Insta Personal Loan Interest Rates and Charges

Insta Personal Loan Interest Rates and Charges

A pre-approved loan offer with the best interest rates may be ready for you. Check in just 2 steps.

FAQs

FAQs

Video

Video

Rs. 40,000 - Rs. 15,50,000

Find out your pre-approved loan amount

Check now

Enter mobile and OTP | Check offer | Know your rates and charges

Insta Personal Loan interest rate and applicable charges

Find out the interest rates and related charges for our Insta Personal Loan. Check your offer in just 2 steps to know the exact interest rate applicable for you and plan your repayment easily.

Type of fee

Applicable charges

Rate of interest per annum

16% to 30% p.a.

Processing fees

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

Bounce charges

Rs. 700/- per bounce.

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum 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 of 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.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal fee

Up to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.


*Renewal Fee to be collected only for 3 subsequent financial years.


**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

Show More Show Less

How to apply for Insta Personal Loan

Check your pre-approved offer and complete the application online in just 5 minutes.


  • Simply check your pre-approved offer by entering your mobile number and OTP.

  • You will see an offer with a pre-assigned loan limit for you. You can either go with it or choose a lower amount.

  • Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.

  • Choose the repayment tenure and click on ‘PROCEED’.

  • Complete your KYC and submit your application.

Our representative will call you for the next steps. The loan amount will be transferred to your bank account after successful verification of your documents.

Need assistance with any step? Dial 7757 000 000

Show More Show Less

Frequently asked questions

Overview

Fees and charges

What are the factors that affect Insta Personal Loan interest rates?
  • CIBIL score: 650 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.
  • 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.

Check your offer in just 2 steps to know the loan amount you can borrow and the applicable interest rate and terms.

What are the factors that affect Insta Personal Loan interest rates?
  • CIBIL score: 650 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.
  • 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.

Check your offer in just 2 steps to know the loan amount you can borrow and the applicable interest rate and terms.

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.

How does bounce of an EMI affect my credit score?

A bounced EMI can negatively impact your credit score, signalling delayed repayment and affecting your eligibility for future loans or credit.

How can I contact you if I have questions?

You can dial 7757 000 000 to reach our 24×7 IVR for personal loan support.

What is the processing fee for an Insta Personal Loan?

The processing fee for a Bajaj Finserv Insta Personal Loan goes 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 up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.

What are the EMI bounce charges on Insta Personal Loan?

A bounce charge is the penalty incurred when you miss an EMI payment. Bajaj Finance charges Rs. 700/- per bounce, for every EMI missed.
Additionally Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum 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 ranging from 16% to 30% 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 out-standing loan amount as of the date of full pre-payment.*Foreclosure will be processed post clearance of first EMI

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.

Can I foreclose the Insta Personal Loan anytime?

Borrowers, can foreclose their Insta Personal Loan, subject to prepayment charges as specified in the loan agreement.

Show more Show Less

Related articles

Article 1

Read more

 How to check your Instant Personal Loan offer 2

All about Insta Personal Loan

Sep 28, 2022

Read more

 Article 3

Read more

 What is Instant Personal Loan NOC. How to get one 4

What is Insta Personal Loan NOC

Sep 28, 2022

Read more

You are here

Related links

Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000