Fees and charges on Insta Personal Loan
| Type of fee | Applicable charges |
Rate of interest |
13% to 36% |
Processing fees |
Processing fee up to 3.85% of the loan amount (Inclusive of applicable taxes) |
Bounce charges |
Rs. 700/- per bounce |
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: Part-prepayment: |
Stamp duty |
Payable as per state laws and deducted upfront from loan amount. |
Mandate rejection charges |
Rs. 450/- per month from the first month of due date for mandate rejected by 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: 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 |
*Part-prepayment should be more than one EMI.
Frequently asked questions
The processing fee for a Bajaj Finserv Insta Personal Loan may go up to 3.85% of the loan amount (Inclusive of applicable taxes).
When making a part-prepayment, you must account for a fee of 4.72% plus taxes on the part-prepayment amount made.
A bounce charge is the penalty incurred when you miss an EMI payment. Bajaj Finserv charges Rs. 700/- per bounce, 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%.
You can avail of a Bajaj Finserv Insta Personal Loan at a competitive interest rate starting at 13% to 36%
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.
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.
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.
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.
