EMI Calculator
Plan your instalments better.
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 insta loan process.
-
If you don’t see an offer
In the above cases, if you do not see an insta loan 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.
-
How does it work
Consider that Amit takes an Insta Personal Loan of Rs. 2 lakh, for a tenure of 3 years, and at an interest rate of 14% p.a. He will have to pay an EMI of Rs. 6,836, excluding other fees and charges. This EMI will consist of both, the principal as well as the interest.
How to get an Insta Personal Loan
00:49
Features and benefits of our Insta Personal Loan
00:35
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
No need to complete the entire application process to know how much loan you will get.
-
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
Our Insta Loans work like a green channel with no documentation required* and money in your account in just 30 minutes*.
-
Flexible loan tenures
Manage your loan repayment with options ranging from 6 months to 63 months.
-
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.
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 |
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: 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. |
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. |
| 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: 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. |
*Part-prepayment should be more than one EMI.
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.
Frequently asked questions
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 Finance Limited 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.
*Terms and conditions apply.
Bajaj Finance Limited 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 63 months.
- Minimal documentation: Insta Personal Loans require minimal documentation for loan processing.
*Terms and conditions apply.
You can check your offer using the following steps:
- Click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Once verified successfully, your pre-approved personal loan offer details will be displayed on your screen.
Getting an Insta Personal Loan from Bajaj Finance is simple. You only need to follow the three steps below to get an offer.
- Click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Go with the pre-assigned limit or choose a different loan amount.
- Choose a repayment tenure that suits you best.
- 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.
*Terms and conditions apply.
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 Finance Limited. Share a few basic details on the link below and get your credit score – for free.
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
We provide a tenure ranging from 12 months to 63 months for you to choose from for Insta Personal Loans. You can pick a suitable tenure according to your needs.
