How to Apply for Personal Loan

How to Apply for Personal Loan

Check your pre-approved offer → Apply online in 5 minutes → Get funds in 24 hours*

Loan Types

Loan Types

FAQs

FAQs

Video

Video

Rs. 40000 - Rs. 55 lakh

Find out the loan amount you can get before applying

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Enter phone and OTP | Check loan amount you can get | Apply online

Steps to apply for a personal loan

Follow the simple steps to find out exactly how much you can borrow and complete your application online in just 5 minutes.


  1. Simply check your pre-approved offer by entering your mobile number and OTP.
  2. Go ahead with your pre-approved offer or enter the amount you need to borrow.
  3. Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. Enter the loan amount that you need. Choose from our personal loan variants.
  5. Choose the repayment tenure - you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
  6. 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.

Benefits of choosing Bajaj Finserv Personal Loan

Choosing the right lender plays an important role in managing your finances effectively. Bajaj Finserv offers a personal loan solution designed for convenience, flexibility, and transparency, helping borrowers meet their financial needs with ease.

 

  • Quick and hassle-free process: Bajaj Finance provides a smooth application journey with fast approvals and minimal documentation, reducing delays and paperwork.
  • Flexible repayment tenures: Borrowers can select repayment tenures that align with their income and budget, making EMIs easier to manage.
  • Easy EMI planning: The personal loan EMI calculator helps estimate monthly instalments in advance for better financial planning.
  • Simple eligibility assessment: Applicants can check eligibility quickly using the personal loan eligibility criteria to improve approval confidence.
  • Competitive interest rates: Transparent pricing allows borrowers to review personal loan interest rates and choose affordable repayment options.
  • Versatile usage: The loan can be used for multiple personal requirements, offering flexibility and control over finances.

 

With flexible terms, quick processing, and flexible repayment tenure Bajaj Finserv Personal Loan provides a reliable and convenient borrowing option to meet diverse financial needs confidently.

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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term (Dropline) Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Compare loan variants

What are the uses of Personal Loan
 

What are the uses of Personal Loan

  • Flexi Hybrid Term Loan
  • Flexi Term (Dropline) Loan
  • Term Loan

Instalment

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount

Tenure

Initial tenure: Up to 36 months, Subsequent tenure: Up to 72 months

Annual maintenance charges

Up to 0.472% (Inclusive of applicable taxes) of the Dropline limit during Initial Tenure. Up to 0.295% (Inclusive of applicable taxes) of Dropline limit during Subsequent Tenure

Part-prepayment facility

No part-prepayment charges

Flexi facility charges

Nominal Flexi facility charges applicable

Loan amount

Rs. 40000 to Rs. 55 lakh

Disbursal

Withdraw and prepay conveniently from your sanctioned loan limit

Instalment

Fixed EMIs that cover both the principal and interest on the withdrawn amount

Tenure

12 months to 96 months

Annual maintenance charges

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.

Part-prepayment facility

No part-prepayment charges

Flexi facility charges

Nominal Flexi facility charges applicable

Loan amount

Rs. 40000 to Rs. 55 lakh

Disbursal

Withdraw and prepay conveniently from your sanctioned loan limit

Instalment

Fixed EMIs that cover both the principal and interest

Tenure

12 months to 96 months

Annual maintenance charges

Not applicable

Part-prepayment facility

Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.

Flexi facility charges

No Flexi facility charges.

Loan amount

Rs. 40000 to Rs. 55 lakh

Disbursal

Single disbursement of the loan amount

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Frequently asked questions

Overview

Application

Eligibility

How do I get an immediate personal loan?

To obtain an immediate personal loan, explore NBFCs or online lending platforms. Complete the application with accurate information, including financial details and employment history. Ensure a good credit score for better approval chances. Compare interest rates and terms before finalising the loan agreement.

How to get a personal loan for the first time?

To secure a personal loan for the first time, assess your credit score, gather financial documents, and create a budget. Research lenders offering loans to individuals with limited credit history. Apply online or in person, with steady income and responsible financial habits. Compare offers, select the best terms, and complete the application process.

How to get quick approval on my personal loan application?

With Bajaj Finance Personal Loan, getting approval is easy. You just have to meet the simple eligibility criteria and keep the required documents ready to get approval on a personal loan. Depending on your profile, you may even have a pre-approved offer. Check your personal loan offer with just the mobile number and OTP.

How much can I borrow with a personal loan?

With a Bajaj Finserv Personal Loan you can borrow amount ranging from Rs. 40000 - Rs. 55 lakh which you can repay over the loan tenure ranging from 12 months to 96 months.

What is the maximum personal loan approval time for Bajaj Finance?

Bajaj Finance offers instant approval on personal loans.

Is it possible to get a personal loan instantly?

Yes, many lenders offer instant personal loans, especially for pre-approved customers. Online applications and digital processes ensure quick approval and disbursal, often within a few hours.

Is there a pre-approved personal loan offer available at Bajaj Finance?

Yes, Bajaj Finance provides pre-approved personal loan offers for eligible customers. You can check your personalised offer instantly online with just a few basic details.

What is the personal loan application process?

To start the personal loan application process:

  • Click on 'CHECK ELIGIBILITY' on this page. Now, enter your contact details, and verify the OTP sent to your phone.
  • Fill in the application with your basic details and click on proceed. 
  • Then, enter the loan amount that you need.
  • Complete your KYC and submit your loan application.

Can I apply for a personal loan if I already have an existing one?

Yes, you can apply for a personal loan even if you have an existing loan. But please note that your loan repayment capacity will be checked before approving your loan application.

 

What should I do if my personal loan application is rejected?

If your personal loan application is rejected, check the eligibility criteria, improve your credit score, and reapply once the issues are resolved.

What documents are required to apply for a personal loan?

Following are the documents required to apply for a Bajaj Finserv Personal Loan:

  • 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
  • Real-time image / photograph
  • Ration card
    You can use our Personal Loan EMI Calculator to calculate your EMIs.
What are the reasons that could result in my personal loan application being rejected by the financial lender?

Common reasons include a low credit score, insufficient income, unstable employment, high existing debts, or errors in your application. Ensure eligibility criteria are met and documents are accurate to avoid rejection.

Should I make multiple personal loan applications to improve my chances of being eligible?

No, making multiple applications can harm your credit score as lenders view it negatively. For a Bajaj Finserv Personal Loan, you can check your eligibility with just your mobile number and OTP.

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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