Features and benefits

  • Flexi features

    Flexi features

    Utilise the Flexi facility to borrow from your pre-approved limit whenever you need it and pay interest only on the amount you withdraw.

  • Zero collateral

    Zero collateral

    Self-employed individuals can avail of funding without needing to pledge an asset as security

  • Funding up to %$$BOL-Loan-Amount$$%

    Funding up to Rs. 55 lakh

    Get a sizable sanction to meet multiple financial needs with ease. Plan your repayment with our EMI Calculator.

  • Personalised deals

    Personalised deals

    Existing customers get pre-approved loan offers for a hassle-free experience.

  • Digital loan management

    Digital loan management

    Use the online loan account to access essential loan-related information and manage loan EMIs on the go.

Whether you have urgent business expenses or personal obligations to address, the Bajaj Finserv Personal Loan for self-employed individuals is a great fit. With this instrument, you get funds up to Rs. 55 lakh at an attractive interest rate and a flexible tenor that goes up to 8 years.

The loan also has other features to make your experience comfortable and cost-effective. You can qualify for the loan by meeting our simple eligibility criteria and submitting only a few essential documents. With this loan, you also enjoy swift processing since you can get approval within 48 hours*. Our Flexi facility further gives you the option of lowering your EMIs by up to 45%* when you choose to pay interest-only EMIs.

Read More Read Less

Few Fees and charges for a personal loan for self employed are mentioned below

Type of fee Applicable charges
Rate of interest 9.75% - 30% per annum
Processing fees Up to 3.54% of the loan amount (inclusive of applicable taxes)
Bounce charge In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied.
Document processing charges Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee

Term Loan - Not applicable

Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)

Flexi Variant (as applicable below) - A fee will be deducted upfront from the loan amount

  • Up to Rs. 5,999/- (inclusive of applicable taxes) for loan amount less than Rs. 10,00,000/-
  • Up to Rs. 7,999/- (inclusive of applicable taxes) for loan amount from Rs. 10,00,000/- to Rs. 14,99,999/-
  • Up to Rs. 12,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-
  • Up to Rs. 15,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above

*Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Penal interest Delay in payment of monthly instalment shall attract penal interest at the rate of 42% per annum applicable on the monthly instalment outstanding, from the respective due date until the date of receipt of monthly instalment.
Pre-payment charges

Full Pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
Stamp duty (as per respective state)
Payable as per state laws and deducted upfront from the loan amount.
Mandate rejection charges Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
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) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:

  • For Term Loan: Deducted from the loan disbursement
  • For Flexi Term Loan: Added to the first instalment
  • For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

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 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.

Switch Fees* Up to 1.18% of the loan amount (inclusive of applicable taxes)
Mandate registration charges In case of UPI mandate registration, Re. 1 (inclusive of applicable taxes) will be collected from the customer


*Switch Fee is applicable only in case of switch of loan. In switch cases, Processing Fees and Documentation Charges will not be applicable.

How to apply for a personal loan for self-employed

For an easy online loan application, here are steps to follow:

  1. 1 Click on ‘APPLY ONLINE’ to open the application form
  2. 2 Enter your personal and business details
  3. 3 Upload your last six months bank statements
  4. 4 Get a call from our representative who will guide you on further steps

Once approved, you will get access to funds in just 48 hours*.

*Conditions apply

**Document list is indicative

Frequently asked questions

Why should I take a personal loan for self-employed?

Our personal loan for self-employed individuals comes with several features and benefits. For one, you can use the sanction to fund personal obligations such as a wedding, home renovation, travel, medical emergencies and more without any restriction. Secondly, it is easy to qualify for and doesn’t require you to pledge any assets as security. Lastly, it offers a loan amount of up to Rs. 55 lakh, so you can meet professional and personal requirements without needing to part with assets or liquidate investments.

Do I need to provide security or collateral?

Bajaj Finserv Personal Loan for self-employed does not require you to provide any security or collateral to avail of funds. All you have to do is provide the necessary documents and fulfil the eligibility criteria when you apply.

What documents do I need to apply for a personal loan for self-employed individuals?

To apply for a Bajaj Finserv Personal Loan for self-employed individuals, you need the following documents:

  • Proof of business ownership
  • KYC documents – PAN, Aadhaar card, voter ID, passport, driving license, etc.
  • Other financial documents
What is the eligibility for a personal loan for self-employed?

To avail of a Bajaj Finserv Personal Loan for self-employed individuals, these are the criteria to meet:

  • A credit score of 685 or higher
  • Age between 24 years and 80 years
    (*Age should be 80 years at the time of loan maturity)
  • Business vintage of at least 3 years
  • Indian nationality
How can I use a personal loan for the self-employed?

Besides personal expenses, these funds can be invested in your business. You can purchase equipment and machinery, expand to a new location, consolidate existing debt, increase working capital, etc.

How can I apply for a personal loan for self-employed?

You can apply for the loan online, with an SMS or by availing of your pre-approved loan offer. Post completion, an authorised representative will contact you on the next steps.

Read More Read Less