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Get a personal loan of up to Rs. 55 lakh
00:39
What is a Personal Loan Interest Rate
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What is EMI and How Does it Work
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Understanding a Personal Loan Offer
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When Should You Consider a Personal Loan
00:34
How to Choose the Right Loan Amount
Calculate your personal loan EMI
Key Features
Quick approval in just a few steps, No long waiting or complex process
Flexible repayment options for your needs, Choose tenure between 12 and 108 months
Apply easily without using any assets, as no security is required.
Over 5 crore people across India trust Bajaj Finance for their financial needs.
Personal Loan EMI Calculator
How to apply for a Personal Loan
How to apply for a Bajaj Finance Personal Loan
Apply for a Bajaj Finance Personal Loan online in five simple steps, without visiting a branch.
- Check loan eligibility: Enter the loan amount you need and select the repayment period. Then click on "CHECK LOAN OFFER"
- Enter personal details: Enter your personal, financial, and employment details to receive a personalised offer.
- Loan offer: Review your offer details and adjust the amount or tenure to suit your needs.
- KYC verification: Complete your KYC and verify your bank details for disbursal.
- Talk to loan specialist: Your application will be submitted. An executive will contact you for the next steps in the process.
Types of personal loan
Personal loan for travel
Planning a family vacation, honeymoon or international trip can be exciting but expenses such as flights, accommodation, visa fees and sightseeing can add up quickly. Instead of using your savings a travel loan may help manage these costs more conveniently. It allows you to convert the total expense into manageable monthly EMIs, helping you focus on your travel experience rather than immediate financial pressure.
Personal loan for wedding
A personal loan for a wedding can help you cover major expenses, such as booking the venue, paying caterers, photographers, decorators, and other wedding vendors.
Personal loan for higher education
Pursuing higher education can take a toll on expenses, despite an education loan. You can use a personal loan for higher education to cover the costs of travel, tuition, extra courses, accommodation, and so on.
Personal loan for medical emergencies
With hassle-free application and quick disbursal, a personal loan for medical emergency can help you focus on the situation at hand without worrying about managing the expenses.
Personal loan for home renovation
A personal loan for home renovation can help cover expenses such as repairs, painting, flooring, kitchen upgrades, and bathroom improvements. It allows you to spread renovation costs across monthly EMIs instead of using your savings to pay for the entire project at once.
Features and benefits of instant personal loan
Explore the key features and benefits of Bajaj Finance Personal Loan including flexible repayment options, quick approval, minimal documentation and high loan amounts.
Features and Benefits of Bajaj Finance Personal Loan
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- Three loan variants
Choose from three loan variants — Term Loan, Flexi Dropline Loan, and Flexi Hybrid Loan.
- Three loan variants
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- High loan amount
Borrow from Rs. 40,000 to Rs. 55 lakh to meet small or large expenses.
- High loan amount
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- Money in your account in 24 hours*
Receive your approved loan amount in your bank account within 24 hours*, subject to document verification and approval.
- Money in your account in 24 hours*
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Quick approval
Complete your entire application online from the comfort of your home or wherever you are and get an instant personal loan with fast approval.
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- No guarantor or collateral needed
You do not need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.
- No guarantor or collateral needed
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- No hidden charges
All the personal loan interest rate and charges are mentioned clearly on this page itself and also on our loan documents. We advise you to read these in detail before applying.
- No hidden charges
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No part-prepayment charge on Flexi Loans
Repay a part of your loan in advance at no extra cost. You can make part-prepayments as many times as you want.
Read about Flexi Loans
*Terms and conditions apply
Personal loan eligibility and documentation
Anyone can apply for our personal loan online, as long as you meet five basic criteria mentioned below. If you meet all the eligibility criteria of our online personal loan, you will need a set of personal loan documents to complete your application process. With the Bajaj Finance Personal Loan, you can get instant approval of amount ranging from Rs. 40,000 to Rs. 55 lakh.
Meet the easy personal loan eligibility parameters and complete your basic documentation to avail the money you need within 24 hours* of approval.
Eligibility Criteria and Documents Required for Bajaj Finance Personal Loan
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Personal loan eligibility criteria
Nationality
Indian
Age
21 years to 80 years.
Employed with
Public, private, or MNC.
CIBIL Score
650 or higher.
Customer profile
Self-employed or Salaried
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Documents required for a personal loan
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Piped gas bill
- Pension order
- Letter of Allotment of Accommodation Issued by Employer
- Property / Municipal tax receipt
- Utility bill
- Phone bill
- Real-time image / photograph
*You should be 80 years or younger, at the end of the loan tenure.
Personal loan interest rate, fees and charges
Do's and don'ts of taking a personal loan
Compare personal loan offers carefully to understand the repayment commitment, total borrowing cost and eligibility requirements before applying.
Do's | Don'ts |
Compare EMIs: Calculate your monthly EMI and ensure it fits comfortably within your budget after essential expenses. | Don't overlook affordability: Avoid choosing a loan with an EMI that strains your monthly finances. |
Choose a suitable tenure: Compare repayment periods to balance affordable EMIs against the total interest payable. | Don't focus only on low EMIs: Longer tenures may reduce monthly payments but increase the overall interest cost. |
Review fees and charges: Check processing fees, applicable taxes, foreclosure charges and other costs before accepting an offer. | Don't ignore additional costs: Avoid comparing loans using interest rates alone without considering applicable fees and charges. |
Check eligibility: Review income, credit score, employment and documentation requirements before submitting your application. | Don't assume approval: Meeting basic eligibility criteria does not guarantee loan approval or a specific interest rate. |
Use digital tools: Compare offers online and review the repayment schedule, loan terms and disclosures before proceeding. | Don't rush online applications: Avoid submitting incomplete details or accepting an offer without reading the terms and conditions. |
Things to know before applying for a personal loan
Before applying for a personal loan, review the eligibility criteria, interest rates, repayment tenure and applicable charges to understand the borrowing costs and choose a repayment plan that suits your budget.
- Eligibility requirements: Before applying for a personal loan, check the minimum age, income, credit score and employment criteria. Meeting the eligibility requirements helps you understand whether you may qualify, although final approval depends on verification and the applicable terms and conditions.
- Interest rate: Compare personal loan interest rates before choosing an offer. Your rate may depend on your credit profile, income and other assessment factors. Even a small difference in the interest rate can affect your monthly EMI and total repayment amount.
- Repayment tenure: Choose a repayment tenure that fits your monthly budget and financial commitments. A longer tenure generally reduces your EMI but may increase the total interest payable. A shorter tenure can reduce interest costs but requires higher monthly repayments.
- Fees and charges: Review the processing fee, applicable taxes and other charges before accepting a personal loan offer. These costs affect the total borrowing expense beyond the interest rate. Read the fee schedule and loan agreement to understand the charges applicable to your loan.
- Prepayment and foreclosure: Check the terms for part-prepayment and foreclosure before taking a personal loan. Charges and conditions vary by loan type and agreement. Understanding these rules helps you assess whether early repayment is suitable for your finances and could reduce future interest costs.
Comparing these factors beforehand can help you make an informed borrowing decision and manage your personal loan repayments more effectively.
Tips for using an instant personal loan smartly
Using an instant personal loan wisely starts with borrowing only what you need, planning repayments around your income and understanding the loan terms. These practical tips can help you manage borrowing costs and maintain repayment discipline.
- Borrow only what you need
Estimate your expenses before choosing an instant personal loan amount. Borrowing only what you require can keep your EMI manageable and reduce the total interest payable over the repayment tenure. - Plan your EMI around income
Calculate your monthly EMI against your take-home income and essential expenses. Keeping repayments within your budget helps you meet instalment deadlines without compromising routine financial commitments or savings. - Compare interest rates and charges
Review interest rates, processing fees and applicable charges across suitable personal loan offers. Comparing the total borrowing cost helps you understand your repayment obligation and choose an option that fits your finances. - Choose a suitable repayment tenure
Select a repayment tenure based on your monthly budget and financial goals. A longer tenure may lower your EMI but increase total interest, while a shorter tenure usually requires higher monthly payments. - Keep funds for emergencies
Maintain a separate emergency reserve from your regular savings wherever possible. Having funds available for unexpected expenses can help you manage financial setbacks without relying on additional borrowing while repaying your personal loan. - Pay your EMIs on time
Set reminders or use an appropriate payment facility to avoid missing EMI due dates. Timely repayments help you maintain a positive repayment history and reduce the risk of late-payment charges, subject to your loan terms.
Compare loan variants
Find the right loan variant for you
Apply for a personal loan based on loan amount
Instant personal loan available online in cities
Apply for a personal loan based on your salary
Frequently asked questions
Overview
Application
Repayment
Eligibility
Fees and charges
What is a personal loan?
A personal loan is an unsecured loan that can be used for various personal financial needs, such as medical emergencies, weddings, home renovations, travel, or education.
What are the uses of personal loan?
A personal loan can help you manage a wide range of expenses such as planning a home renovation, funding higher education, covering medical bills or arranging a holiday. Since it is an unsecured loan, you have the flexibility to use the funds for most personal financial needs without providing collateral.
- Personal Loan For Higher Education
- Personal Loan For Medical Emergency
- Personal Loan For Wedding
- Personal Loan For Home Expenses
- Personal Loan For Travel
- Personal Loan For Teachers
- Personal Loan For Government Employees
- Personal Loan For Salaried Employees
- Short term personal loan
- Personal Loan Balance Transfer
- Top Up Personal Loan
- Personal Loan For Debt Consolidation
How is personal loan interest calculated?
You can calculate personal loan interest and the monthly EMI using the standard formula:
EMI = P × R × (1 + R)ⁿ / [(1 + R)ⁿ – 1]
Here, P represents the principal loan amount, R is the monthly interest rate, and N is the repayment tenure in months. You can also use the personal loan EMI calculator to quickly calculate the estimated EMI and total interest payable.
Why should you choose a Bajaj Finance Personal Loan?
You should choose a Bajaj Finance Personal Loan for following reasons:
- Loan amount ranging from Rs. 40,000 -to Rs. 55 lakh
- Flexible tenures ranging from 12 months to 108 months
- Quick disbursal within 24 hours* of approval
- Unsecured loan which means you do not need a guarantor or collateral
- No hidden charges
*Terms and conditions apply.
How does personal loan balance transfer work?
A personal loan balance transfer allows you to move your existing outstanding loan to another lender, usually to access better terms or a more suitable interest rate. The new lender settles the outstanding amount with your existing lender, after which you repay the transferred loan under the new agreement.
Before choosing a balance transfer, compare the new interest rate, processing fees, foreclosure or other applicable charges, repayment tenure and overall cost. A lower interest rate does not always mean lower total borrowing costs. Check the terms carefully and assess whether the transfer suits your repayment needs.
Does a personal loan offer any tax benefits?
A personal loan does not automatically qualify for tax benefits. Interest may be deductible when the borrowed funds are used for eligible business expenses or qualifying house-property purposes, subject to applicable tax laws and conditions.
Why was my personal loan application rejected and what should I do?
A few common reasons for personal loan rejection include:
CIBIL Score below 650
High FOIR (as per lender criteria)
Being on probation at a new job
Document mismatched
Multiple recent loan applications
Past loan settlements or write-offs
Rejection does not affect your CIBIL Score but repeated enquiries can. Identify the issue, fix it and then reapply.
How do I contact Bajaj Finance for any personal loan queries or service requests?
You can contact Bajaj Finance through the official website, mobile app or customer care helpline. For assistance with loan-related queries and service requests, check the personal loan customer care page for the latest contact number and support options.
Do I need to provide a security or collateral to apply for a personal loan from Bajaj Finance?
No, to apply for personal loan you do not need to give any collateral or assets.
Can I apply for a personal loan if I already have an ongoing loan?
Yes, you can apply for another personal loan if you meet the applicable eligibility criteria. Your income, existing obligations, credit history and repayment capacity may be considered.
How can I track my personal loan application?
You can track your personal loan application through My Cart > Track Application. You can also resume your logged-in application journey, contact Sales Personnel, or visit a branch to check your application status.
Does checking my loan offer affect my credit score?
Checking whether you have a pre-approved offer does not necessarily affect your credit score. However, if the application involves a credit bureau enquiry, it may be recorded. New customers may need to undergo a CIBIL check, depending on the application process.
Can I prepay or foreclose my Bajaj Finance Personal Loan before the tenure ends?
You can easily prepay or foreclose your Bajaj Finance Personal Loan before the end of the tenure.
This loan comes in Term loan variant, and Flexi Loan variants.
For Flexi Personal Loans, there are no part-prepayment charges, and you can part-prepay any time. However, there are foreclosure charges applicable on a Flexi Personal Loan. Please check our fees and charges page or your loan agreement for more details.
For the Term Loan variants, you can part-prepay or foreclose your loan after a lock-in period - please refer to your loan agreement. Also note that part-prepayment and foreclosure charges are applicable on this loan product.
What are the eligibility criteria for a personal loan?
You can easily get our personal loan with the below eligibility criteria:
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 650 or higher.
- Customer profile: Self-employed or Salaried
*You should be 80 years* or younger, at the end of the loan tenure.
*Terms and conditions apply
Can a self-employed person get a personal loan?
Yes. Self-employed individuals can apply for a Bajaj Finance Personal Loan if they meet applicable eligibility criteria, including age, income, nationality and CIBIL Score requirements.
What is the interest rate on Bajaj Finance Personal Loan?
The Bajaj Finance Personal Loan interest rate ranges from 10% to 30.5% p.a., subject to applicable terms and conditions. The rate offered to you may vary based on factors such as your CIBIL Score, income, employment profile, loan amount and repayment tenure. Review the applicable interest rate, fees and other loan terms before accepting the offer.
What factors affect my personal loan interest rate?
The following factors determine the interest rate offered on your personal loan:
(1) CIBIL score — a score of 650 or above typically qualifies for the lowest rates.
(2) Monthly income — higher income signals lower repayment risk.
(3) Employer profile — employees of listed companies or government employees may be eligible for interest rate offers based on the lender’s assessment.
(4) Loan amount and tenure — larger amounts or longer tenures may influence the interest rate offered, depending on the lender’s policy.
(5) Existing relationship — existing Bajaj Finance customers may receive interest rate offers based on the lender’s assessment and prevailing policies.
(6) Debt‑to‑income ratio — a lower existing obligation profile improves your rate eligibility.
Is the Bajaj Finance Personal Loan interest rate fixed or reducing balance?
The Bajaj Finance Personal Loan is offered at a fixed interest rate, starting from 10% per annum. As you repay the principal and interest through EMIs, the outstanding balance decreases, reducing the interest component over time.
What is the minimum salary required for a personal loan?
The minimum salary required for a Bajaj Finance Personal Loan depends on your city of residence and other eligibility criteria. Your income, employment details and repayment capacity may affect eligibility. Check the current requirements before applying, as meeting the criteria does not guarantee approval.
What is the minimum CIBIL Score for a personal loan? Can I get one with a low score?
Bajaj Finance generally requires a minimum CIBIL Score of 650 for a personal loan. A lower score may affect your eligibility or the offer available to you. You can check the applicable criteria, but approval depends on the overall assessment of your application.
What is the regular interest rate and Annualised Percentage Rate (APR) on the loan?
Bajaj Finance Personal Loan interest rates range from 10% to 30.5% per annum, depending on your profile and loan terms. APR reflects the annual borrowing cost, including applicable charges. Check your personalised offer and Key Facts Statement (KFS) for the applicable APR and fees.
Is insurance mandatory with the loan?
No, personal loan insurance is generally optional and is not legally mandatory. You can review the coverage, premium, exclusions and policy conditions before deciding whether to purchase it. Check your loan documents to confirm whether any insurance product has been included in your offer.
Are GST and stamp duty charged?
Yes, applicable taxes and stamp duty may apply to a Bajaj Finance Personal Loan. The processing fee is up to 4.13%, inclusive of applicable taxes, while stamp duty varies by state. Check your loan agreement and fee schedule for the charges applicable to your loan
What our customers say about us
Customers say
Customers consistently praise Bajaj Finance for its quick and easy application process, receiving same-day approvals and funds directly in their bank accounts. Whether for travel, emergencies, business payments, education, or home renovations, users appreciate the reliability and convenience, enabling them to proceed without delays or interruptions.
Aasif Sheikh
Reviewed on 05 Aug 2026
Kaafi time se trip plan kar rahe the, bas paise ek saath arrange nahi ho pa rahe the. Bajaj ke through apply kiya aur process kaafi simple laga. Approval jaldi mil gaya, toh bina aur wait kiye bookings kar di. Overall experience kaafi convenient raha.
Bishwajit Yadav
Reviewed on 05 Aug 2026
Emergency mein sabse bura part hota hai paiso ka wait krna, Bajaj Finance mein wo wait nahi karna pada. Apply kiya, approval same din aa gaya, funds bhi turant aagye the bank account me. Process kafi easy tha, Itne jaldi funds mil jayenge socha nahi tha. That is all that mattered, it was available when I needed it.
Aakash
Reviewed on 05 Aug 2026
Business mein ek urgent payment aa gayi thi aur us waqt branch jaane ka bilkul time nahi tha. Isliye Bajaj Finance ke through online apply kiya. Approval jaldi mil gaya aur funds bhi account mein aa gaye. Isse business ka kaam bina kisi interruption ke.
Rupesh Raj
Reviewed on 05 Aug 2026
Kaafi time se ek certification course karna tha, lekin fees ek saath arrange karna thoda mushkil ho raha tha. Isliye Bajaj se apply kiya. Process online tha aur kaafi convenient laga. Approval milte hi funds seedha bank account mein aa gaye, bina kisi unnecessary delay ke. Admission bhi time par ho gayi aur ab main apna course continue kar raha hoon.
Rohan Kumar
Reviewed on 05 Aug 2026
Renovation shuru toh ho gaya tha, lekin beech mein hi budget ka hisaab bigad gaya. Kaam rokna nahi tha, isliye Bajaj Finance se loan liya. Process kaafi simple tha aur funds bhi time par mil gaye. Isse renovation bina delay ke complete ho gaya.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.