Personal Loan EMI Calculator
Plan your EMI outflow with ease. Use our personal loan EMI calculator to calculate your personal loan EMI and interest payable.Features and benefits of our personal loan
Read on to know why our personal loan is the best option for you.
Features and benefits of Personal Loan
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4 unique variants
Pick the loan variant that suits you best: Term loan, EMI Lite Term Loan, Flexi Term Loan, and Flexi Hybrid Term Loan.
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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 part-pay as many times as you want.
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Loan of up to Rs. 55 lakh
Manage your small or large expenses with loans ranging from Rs. 40,000 to Rs. 55 lakh.
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Approval in just 5 minutes
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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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
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.
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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.
*Terms and conditions apply
Multi-purpose personal loan from Bajaj Finance
An instant personal loan online comes with freedom of usage, and you can utilise these personal loans to manage a wide range of expenses, such as:
Personal loan for higher education: Pursuing higher education can take a toll on expenses, despite an education loan. Use a personal loan for higher education to cover the costs of travel, tuition, extra courses, accommodation, and so on.
Personal loan for medical emergency: 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 wedding: A personal loan for wedding can come in handy when you need funds in bulk for expenses such as booking the venue and making other vendor payments.
Personal loan for home expenses: Fixing a leaky roof or redoing your kitchen can be big expenses. Using our personal loan for home expenses, you can make your house functional and comfortable without emptying your savings fund.
Eligibility criteria and documents required
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 our online personal loan, you can get an instant approval for up 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 & Documents Required for 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
Ration card
*You should be 80 years or younger, at the end of the loan tenure.
How to apply for a personal loan online?
How to apply for a Personal Loan
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Follow the below steps to apply for our personal loan
- Click on ‘APPLY’ at the top of this page
- You will be asked to enter your phone number and an OTP to verify it
- Fill in the application form with your basic loan details
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our personal loan variants.
- Choose the repayment tenure – you can select tenure options of 12 months to 108 months and click on ‘PROCEED’.
- Complete your KYC and submit your application.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents
Personal loan interest rate and applicable charges
Type of fee |
Applicable charges |
Rate of interest per annum |
10% to 30% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes). |
| Flexi Facility Charge | Term Loan – Not applicable Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)
*All the Flexi facility charges above are inclusive of applicable taxes *Loan amount includes approved loan amount, insurance premium, and VAS charges. |
Principal Holiday Facility Fees |
Above charges are inclusive of applicable taxes & will be deducted upfront from loan amount |
Bounce charges |
Up to Rs. 1,200/- per bounce |
Part-prepayment charges |
Full prepayment
Part-prepayment
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Penal charge |
Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount. |
Annual maintenance charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): 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. Flexi Hybrid Term Loan: Up to 0.472% (Inclusive of applicable taxes) of the Dropline limit during Initial Tenure. Up to 0.472% (Inclusive of applicable taxes) of Dropline limit during Subsequent Tenure |
Note: Additional cess if any, will be applicable to all charges according to state law.
*Terms and conditions apply.
Compare loan variants
Compare Personal Loan variants
Frequently asked questions
Overview
Application
Repayment
Eligibility
Fees and charges
A personal loan is an unsecured loan that offers a lump sum amount to cover various personal needs such as home renovations, weddings, medical expenses, or travel.
A personal loan can be used for almost any personal expense, such as:
Personal loan for higher education
Personal loan for medical emergency
Personal loan for wedding
Personal loan for home expenses
Our instant personal loan comes with no end-use restrictions, allowing you to meet a wide variety of expenses comfortably.
You can use our personal loan EMI calculator to find out the total interest payable for your personal loan. It depends on the interest rate, loan amount, and your repayment duration.
Below are the features that make the Bajaj Finserv Personal Loan a great choice:
- Loan amount of up to Rs. 55 lakh
- Flexible tenures of up 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.
If you’re looking for the best personal loan in India, start by comparing interest rates, processing fees, and repayment tenures from different lenders. Check your credit score and eligibility first. Watch out for hidden charges, see how flexible the repayment terms are, and read customer reviews. Plenty of companies offer personal loans, but it’s smarter to go with a trusted lender that offers fair terms, clear policies, and fits your financial comfort zone.
A personal loan balance transfer means moving your existing loan to another lender that offers a lower interest rate or better terms. This can bring down your monthly EMI, cut your total interest payable, and make your loan easier to manage.
A personal loan works by providing you with a lump sum amount that you repay in fixed monthly instalments along with interest over a set tenure. Since a personal loan is an unsecured loan, you do not need to pledge any collateral.
A personal loan application with Bajaj Finance can be approved within 5 minutes, subject to your eligibility and document verification.
*Terms and conditions apply
To apply for a personal loan with Bajaj Finance, you need a CIBIL Score of 650 or above.
No, Bajaj Finserv Personal Loas are unsecured, so you don’t need to provide any security or collateral to apply.
A Flexi day-wise interest calculator shows how interest builds up and repayments work for Flexi Loans. It helps you track costs, plan better, and save on interest by managing your withdrawals and repayments smartly.
You can set up a NACH mandate with your bank to pay the personal loan through EMIs.
You can get a personal loan ranging from Rs. 40,000 to Rs. 55 lakh Inclusive of insurance premium, VAS charges, Flexi facility charges, and processing fees without pledging any collateral.
To get a quick personal loan, you only need to meet a few basic personal loan eligibility and document requirements:
You must be between 21 years and 80 years of age
You must be a salaried individual employed with an MNC, public or private company
You must be a residing citizen of India
If you meet the salary requirement based on your city of residence, you can qualify for the loan.
You should be 80 years or younger, at the end of the loan tenure
*Terms and conditions apply
A personal loan eligibility calculator gives you an idea of how much you loan you can get, based on your income, credit score, and other details. However, final personal loan approval depends on the lender and may involve additional parameters.
The ideal credit score to get instant paperless approval for the best personal loan in India differs from lender to lender. A CIBIL Score of 650 and above is required to get a Bajaj Finance Personal Loan.
A personal loan is an unsecured loan, so you do not need to provide any collateral like property or gold. You are eligible for a personal loan based on factors such as your income, credit score, and repayment history.
We offer competitive and affordable interest rates on the Bajaj Finserv Personal Loan, starting at just 10% p.a.* You can choose a long or short repayment tenure, depending on your budget, ranging from 12 months to 108 months.
Processing fees are charges that are usually levied on the total loan amount sanctioned. Bajaj Finance Ltd charges up to 3.93% of the loan amount (inclusive of applicable taxes).
No, foreclosure charges on a personal loan are generally not waived. Lenders levy them as per policy, so always review terms before applying.
Yes, you can prepay a personal loan. It lowers your interest burden and timely prepayment reflects financial discipline, which can positively impact your credit score.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.