Insta Personal Loan for higher education

Pursuing a higher education is a big financial commitment. There will always be unforeseen expenses – be it for tuition, travel, extra courses, living expenses, or accommodation.

Our Insta Personal Loan takes care of such expenses. Existing customers can get a pre-approved offer, while new customers can generate a pre-assigned limit from which they can borrow.

Read more about our Insta Personal Loan.

Visa and Flights

VISA AND FLIGHTS

Application fees are a large part of the expenses associated with higher education. More so when you factor in the cost of flights, visas, and other paperwork needed for an international course.

Course Fees

COURSE FEES

Education loans will likely cover the cost of the tuition, but an Insta Personal Loan with a high amount and flexible repayment options gives you the freedom to cover unforeseen expenses.

Living Expenses

LIVING EXPENSES

Rent is only the beginning of your living expenses. Your overall expenses also include costs for groceries, transport, mobile, internet, and other items. These may set you back by an enormous amount.

Course materials

COURSE MATERIALS

You may need books, devices, special software, and other related items during your course. These expenses usually are unforeseen and can come as an ad-hoc expense at any point.

Emergency Fund

EMERGENCY FUND

It is important to set aside money for unforeseen events like accidents or illnesses. Although insurance can be helpful in certain cases, it cannot always cover every expense.

Features and benefits of our Insta Personal Loan

All you need to know about our Insta Personal Loan

Watch this video to know everything about our Insta Personal Loan - features and benefits, fees & charges, etc.

  • Pre-assigned limits

    Pre-assigned limits

    No need to complete the entire application process to know how much loan you will get.

  • All you need is a valid mobile number

    All you need is a valid mobile number

    You can check your Insta Personal Loan offer by entering your mobile number and OTP.

  • Immediate processing

    Immediate processing

    Our Insta Loans work like a green channel with no documentation required* and money in your account in just 30 minutes*.

  • Flexible loan tenures

    Flexible loan tenures

    Manage your loan repayment with options ranging from 12 months to 60 months.

  • No hidden charges

    No hidden charges

    You can read our fees and charges on this page and on our loan documents. There are no hidden charges.

    *Applicable for select customers.

  • Still haven’t found what you’re looking for? Click on any of the links at the top of this page.

Show More Show Less

Many more options for our customers

You may not need a loan right now or you may not have a pre-approved offer. You can still choose from a variety of products:

  • Get your Insta EMI Card

    Get your Insta EMI Card

    Shop for your favourite products on No Cost EMIs at any of our 1 lakh+ offline partners or multiple online partners.

    Click here to get Insta EMI Card

  • Set up your Bajaj Pay wallet

    Set up your Bajaj Pay wallet

    The only 4 in 1 wallet in India that gives you the option to transfer money or pay using UPI, EMI Network Card, credit card, and your digital wallet.

    Download Bajaj Pay

  • Check your credit health

    Check your credit health

    Your CIBIL Score and credit health are some of the most critical factors for you. Get our Credit Pass and stay in the pink of health always.

    Click here to get your Credit Pass

  • Pocket Insurance to cover all your life events

    Pocket Insurance to cover all your life events

    We have 400+ Pocket Insurance covers starting from Rs. 19 to cover all your life events - trekking, monsoon-related diseases, car key loss/ damage, and more.

    Discover Insurance Mall

  • Set up an SIP for as little as Rs. 500 per month

    Set up an SIP for as little as Rs. 500 per month

    Pick from over 900 mutual funds across 40 mutual fund companies like Aditya Birla, SBI, HDFC, ICICI Prudential Mutual Fund, and more.

    Discover Investment Mall

EMI Calculator

EMI Calculator

Plan your instalments better.

Eligibility criteria and documents required

Anyone can opt for our instant personal loan. Your eligibility and documentation requirement depends on whether you are a new customer or have an existing relationship with us.

If you are an existing customer

Since you are an existing customer with a pre-approved offer, there are no additional eligibility criteria that apply to you. Some of our existing customers may be asked to submit additional documents, such as your income proof, KYC documents, and bank statement.

If you are a new customer

Customers with an instant personal loan offer may need to go through a CIBIL check and provide additional documents.

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.

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.

Understanding Insta Personal Loans

  • If you are an existing customer

    Our existing customers enjoy the benefits of pre-approved loan offers. These offers come with pre-assigned limits. You don’t need to complete an application to know how much loan you are going to get. You can get this information by entering your mobile number and OTP.

  • If you are a new customer

    We have created a service wherein anyone with a valid mobile number can check for an Insta Personal Loan offer. These offers come with pre-assigned limits. However, we may need additional documents to complete the loan process.

  • If you don’t see an offer

    In the above cases, if you do not see an offer or need a higher loan amount than the pre-assigned limit, you have the option to go through our regular online application process that takes less than 5 minutes.

Show More Show Less

Frequently asked questions

What is an Insta Personal Loan?

An Insta Personal Loan is a pre-sanctioned offer; wherein the lender has already evaluated your credit history to check your creditworthiness. Since the initial approval process is already done, Insta Personal Loans are processed faster. With a Bajaj Finserv Insta Personal Loan, you can expect the money in your account within 30 minutes*. Since you are already approved for the loan, you do not need to complete additional paperwork or face long processing time.

Read more about Insta Personal Loans and how to get one.

*Terms and conditions apply.

What are the advantages of an Insta Personal Loan over a regular loan?

Bajaj Finserv offers Insta Personal Loans to its existing as well as new customers. The benefits of choosing an Insta Personal Loan include:

  • Faster processing: You do not need to go through a lengthy approval process associated with regular loans.
  • Instant funding: Since you are screened for your creditworthiness beforehand, the loan disbursal process is significantly shortened. You can get the funds you need in as little as 30 minutes*.
  • Flexible tenures: With Insta loans, you can pick a convenient repayment tenure ranging from 12 months to 60 months.
  • Minimal documentation: Insta Personal Loans require minimal documentation for loan processing.

Click here to know all about our Insta Personal Loan.

*Terms and conditions apply.

How can I check my Insta Personal Loan offer?

You can check your offer using the following steps:

  1. Click on ‘CHECK OFFER’.
  2. Enter your 10-digit mobile number and OTP.
  3. Once verified successfully, your pre-approved personal loan offer details will be displayed on your screen.

Read more on how your Insta Personal Loan offer amount is decided.

How can I get an Insta Personal Loan from Bajaj Finserv?

Getting an Insta Personal Loan from Bajaj Finserv is simple. You only need to follow the three steps below to get an offer.

  1. Click on ‘CHECK OFFER’.
  2. Enter your 10-digit mobile number and OTP.
  3. Go with the pre-assigned limit or choose a different loan amount.
  4. Choose 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.

Check your insta personal loan offer.

*Terms and conditions apply.

Do I need to check my credit score before obtaining an Insta Personal Loan?

We look at several parameters before preparing your Insta Personal Loan offer, including your credit score, financial history, income details and more. Since we verify your credit score, you do not need to be aware of your score before checking your pre-approved loan offer.

However, keeping a tab on your credit health every few months is good practice. One of the easiest ways to do this is to use the Credit Pass offered by Bajaj Finserv. Share a few basic details on the link below and get your credit score – for free.

Check your credit score for free.

Do I need any documents to get an Insta Personal Loan?

Minimal documentation is one of the most significant advantages of Insta Personal Loans, and in some cases, you might not even need to provide any documents. In case you are asked for documents, you will only need the following:

  • KYC documents
  • Cancelled cheque
  • Bank account details

Read more on eligibility criteria and documentation.

What are the tenure options available for an Insta Personal Loan?

We provide a tenure ranging from 12 months to 60 months for you to choose from for Insta Personal Loans. You can pick a suitable tenure according to your needs.

Click here to know check your offer.

Show More Show Less