Your Personal Loan with us
Check details and make payments for your personal loan
Trusted by 3 lakh+ customers
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.
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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 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
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.
*Terms and conditions apply
Still have not found what you are looking for? Click on any of the links at the bottom of this page.
A loan for all your goals
Since our personal loan comes with freedom of usage, you can utilise the funds to manage a wide range of expenses, including higher education and wedding.
A hassle-free application and quick disbursal make it an ideal option to manage urgent needs such as a medical emergency or home repairs.
Apply today and manage your financial expenses without stress.
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 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
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 685 or higher.
- Monthly salary: Starting Rs. 25,001, based on the city you live in.
- Customer profile: Self-employed or Salaried
Documents required
- 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
- Utility bill of electricity and piped gas
*You should be 80 years* or younger, at the end of the loan tenure.
How to apply for a personal loan
Step-by-step guide to apply for a personal loan
- Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
- Enter your 10-digit mobile number and the OTP sent to your phone.
- Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
- Choose the repayment tenure – you can select tenure options of 12 months to 96 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 |
10% to 31% p.a. |
Processing fees |
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)
*All the Flexi charges above are inclusive of applicable taxes *Loan amount includes approved loan amount, insurance premium, and VAS charges. |
Bounce charges |
Rs. 0 to Rs. 1,200 per bounce. |
Part-prepayment charges |
Full prepayment
Part-prepayment Term Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment.
*Foreclosure will be processed post clearance of first EMI |
Penal charge |
Delay in payment of instalment(s) shall attract penal charge of Rs. 8 - Rs. 8 per day 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. |
Mandate registration charges |
Re. 1 (inclusive of applicable taxes) applicable in case of UPI mandate registration. |
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. |
Annual maintenance charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 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: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure. |
Broken period interest / Pre-monthly Instalment interest |
Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:
EMI Date : 2nd
Scenario 1: If Loan is disbursed on 1st or post 10th of the month: Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
EMI Date : 7th
Scenario 1: If Loan is disbursed on 1st to 6th or post 10th of the month: For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement Scenario 2: If Loan is disbursed between 7th and 10th of the month: |
| Switch fee | Up to 1.18% of the loan amount (inclusive of applicable taxes). Switch fee is applicable only in case of switch of loan. In switch cases, processing fees will not be 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. |
Note: Additional cess if any, will be applicable to all charges according to state law.
*Terms and conditions apply.
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%, 32%, and 34.76% per annum respectively. Part-prepayment and foreclosure charges are NIL.
{Average interest rate is higher than max interest rate, because maximum interest rates was reduced effective 02 May 2024 however average interest rate is computed on a volume weighted basis for last quarter (Apr'24 - Jun'24)}
Our Flexi loan variants
Loan variant |
What is it |
Flexibility |
Withdrawals |
EMIs |
Part-prepayment Charges |
Flexi Charges |
Flexi Hybrid Loan |
Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged only on the amount utilised. |
Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant. |
Get unrestricted access to funds with multiple withdrawals from the approved loan limit. |
Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount. |
No part-prepayment charges. |
Nominal Flexi charges applicable. |
Flexi Term Loan |
Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration. |
Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan. |
Get unrestricted access to funds with multiple withdrawals from the approved loan limit. |
Fixed EMIs only on the withdrawn amount. |
No part-prepayment charges. |
Nominal Flexi charges applicable. |
Term Loan |
There is no pre-assigned limit. Involves borrowing a fixed amount for a specified term. Repayments are made through regular EMIs, comprising both principal and interest. |
Fixed loan structure and repayment schedule. Less flexible than our flexi term or flexi hybrid loans. |
Single disbursement of the loan amount. |
Fixed EMIs on the disbursed amount. |
Nominal part-prepayment charges applicable. |
No Flexi charges. |
Frequently asked questions
The annualized rate of interest (% p.a.) is the cost that the borrower must pay for money borrowed from the lender. The interest is payable on principal loan amount basis the loan tenure opted. Bajaj Finance Limited offers personal loans with an annualized interest rate ranging from 10% to 31% p.a. which can be repaid over tenures between 12 months to 96 months.
For instance, Priya took a personal loan of Rs. 1,00,000 at an annualized interest rate of 15% p.a. for a tenure of 12 months. In this scenario, Priya’s annual interest payable will be around Rs. 8,310 and her monthly EMI shall be around Rs. 9,026. Here, she will be repaying around Rs. 1,08,310 in total during the loan tenure towards principal and interest component, apart from other charges applicable, if any.
The annual percentage rate is the cost that the borrower must pay for borrowing money from the lender. It includes interest, fees, and charges.
Bajaj Finserv offers personal loans that come with a host of features and benefits, including:
- Flexi facility
- Instant approval
- Minimal documentation
- Money in bank in 24 hours*
- Flexible tenures
- No hidden charges
*Terms and conditions apply
The minimum salary criteria for a personal loan from Bajaj Finserv depends on your city of residence. For instance, your minimum monthly salary should be Rs. 40,000 if you reside in Pune, Bangalore, Mumbai, or Delhi.
New customers applying for a personal loan need to submit just their basic identity and financial documents. These include:
- 2 passport-size photographs
- KYC documents – Aadhaar card, PAN card, voter ID, driving licence, passport
- Bank account statements for the past three months
- Salary slips for the past three months
You can use our personal loan EMI calculator to identify the monthly instalment and tenure that suits you best. You only need to enter the amount you need to borrow, the interest rate, and the tenure to get an estimate of the instalments you are likely to bear.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.