BUYING
Your home loan may cover only 80% of the total cost. You can take a personal loan to cover the remainder of the cost, brokerage, stamp duty, and other related expenses.
RENOVATION
From time to time, we all want to redo the bedroom or buy a new couch for the living room. As children grow up, they may need a place of their own. You wouldn’t want to hold back and cut corners.
FURNISHINGS
At times, furniture, upholstery and lighting is all you need to convert your apartment into a luxury residence. 10 years ago, these things were hard to find. Now, all such things are available easily, and you could really splurge.
Features and benefits of our personal loan
All you need to know about our Personal Loan
Watch this video to know everything about the features of our personal loan.
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3 unique variants
Pick the loan variant that suits you best: Term loan, Flexi Term Loan, and Flexi Hybrid Loan.
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No part-prepayment charge on Flexi Term Loan
Repay a part of your loan in advance, at no extra cost. You can part-pay as many times as you want.
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Loan of up to Rs. 40 lakh
Manage your small or big expenses with loans ranging from Rs. 1 lakh to Rs. 40 lakh.
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Convenient tenures
Manage your loan easily with repayment options ranging from 6 months to 84 months.
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Approval in just 5 minutes
Complete your entire application online from the comfort of your home or wherever you are.
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Money in your account in 24 hours*
Your bank account will be credited with your loan amount within 24 hours* or, in some cases, on the same day of approval.
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No hidden charges
Our fees 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.
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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.
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*Terms and conditions apply.
Still haven’t found what you’re looking for? Click on any of the links at the top of this page.
Pre-approved offers for new customers
We have pre-approved offers for our existing customers as well as our new customers. To check, all we need is your mobile number.
If you are our pre-approved customer, you do not need to go through the entire application process. Think of it as our green channel.
You may not need a loan at this point of time, or you may not have a pre-approved offer. You can still choose from a wide range of products:
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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.
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Check your credit health
Your CIBIL score and credit health are some of the most important parameters for you. Get our Credit Health Report and stay in the pink of health always.
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Pocket Insurance to cover all your life events
We have 200+ Pocket Insurance covers starting from Rs. 19 to cover all your life events - trekking, monsoon-related diseases, car key loss/ damage, and more.
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Set up an SIP for as little as Rs. 100 per month
Pick from over 900 mutual funds across 40+ mutual fund companies like Aditya Birla, SBI, HDFC, ICICI Prudential Mutual Fund, and more.
EMI Calculator
Plan your instalments better.
Eligibility criteria and documents required
Anyone can apply for our personal loan, as long as you meet five basic criteria mentioned below. If you meet all the eligibility criteria, you will need a set of documents to complete your application process.
Eligibility criteria
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL score: 750 or higher.
- Monthly salary: Starting Rs. 22,000, based on the city you live in.
Documents required
- KYC documents: Aadhaar/ PAN card/ passport/ voter’s ID
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
*You should be 80 years or younger, at the end of the loan tenure.
Check your personal loan eligibility
Find out how much loan amount you can get.
Applicable fees and charges
Type of fee |
Applicable charges |
Rate of interest |
11% - 39% p.a. |
Processing fees |
Processing fee up to 3.93% of the loan amount (Inclusive of applicable taxes) |
| Flexi Fee | Term Loan - Not applicable Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below) |
Bounce charges |
Rs. 700 - Rs. 1,200 per bounce. |
| Pre-payment charges | Full Pre-payment
Part Pre-payment
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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. |
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 the due date for the mandate rejected by customer’s bank until the registration of new mandate. |
Annual maintenance charges |
Term Loan: Not Applicable Flexi Term Loan (Flexi Dropline): 0.295% (Inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: 0.295% (Inclusive of applicable taxes) of the total withdrawable amount during initial tenure. 0.295% (Inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure. |
| Broken period interest / Pre EMI-Interest | "Broken Period Interest/ Pre EMI-Interest" shall mean the amount of interest on Loan for the number of day(s) which is(are): Scenario 1: Over and above the period of 30 days from the date of disbursement of the Loan Method of recovery of Broken Period Interest/ Pre-EMI Interest: Scenario 2: Less than period of 30 days from the date of disbursement of the Loan, Interest on first instalment will be charged for actual number of days |
*Terms and conditions apply
3 unique variants of our personal loan
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Flexi Term Loan
Imagine you take a loan of Rs. 2 lakh for a tenure of 24 months. For the first six months, you pay the regular equated monthly instalment (EMI). By now, you would have repaid about Rs. 50,000.
Suddenly, you have an unforeseen need for Rs. 50,000. All you need to do is to go to My Account (our customer portal) and withdraw Rs. 50,000 from your Flexi Term Loan account. Three months later, you just got your bonus of Rs. 1,00,000 and would like to pay back a part of your Flexi Term Loan. This time again, all you need to do is go to My Account and pay back a part of your Flexi Term Loan.
During all this while, your interest is automatically adjusted, and you are paying interest only on the outstanding amount at any point of time. Your EMI consists of both principal and adjusted interest.
Unlike in the case of other personal loans, there is absolutely no fee/ penalty/ charges for paying back or withdrawing from your Flexi Term Loan account.
This variant is ideal for today’s lifestyle, wherein managing expenses can get unpredictable.
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Flexi Hybrid Loan
This is another variant of our personal loan that works exactly like Flexi Term Loan. The only difference is that, for the initial period of the loan that could vary depending on the tenure of the loan, your EMI will only consist of the applicable interest. For the remaining period, the EMI will consist of the interest and principal components.
Click here for a detailed description of how our Flexi Hybrid Loan works.
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Term loan
This is like any other regular personal loan. You borrow a certain amount of money, which is divided into equated monthly instalments that consist of both principal and the applicable interest.
There is a fee applicable for repaying your term loan before the completion of your loan tenure.
Frequently asked questions
Getting a Bajaj Finserv Personal loan is a simple way to pay for the costs of your home renovations including repairing, interior or expanding your home. These personal loans have simple eligibility criteria and offer quick disbursal.
The following documents must be submitted while applying for a personal loan for home improvement:
• Passport-size photographs
• KYC documents – Aadhaar, PAN, voter’s ID, driving license, passport
• Bank account statements for the previous 3 months
• Salary slips for the last 3 months
Yes, anyone can apply for a personal loan to renovate their homes. You can use this loan to pay for remodelling, furnishings, plumbing, tiling, flooring, and any other home expenses.
Bajaj Finserv Personal Loan for home expenses is offered at a competitive interest rate ranging from 11% onwards. Our fees and charges are written clearly in our loan documents. We advise you to review these thoroughly before applying.
