Personal Loan Interest Rates

Bajaj Finserv lets you borrow up to Rs.25 lakh, which can be repaid over a flexible tenor. It comes with attractive personal loan interest rates that can be negotiated based on your CIBIL score and repayment history. To avail the loan, you also need to pay some processing fee for personal loans. The processing charge at Bajaj Finserv is up to 3.99% of the total loan amount.

Applying for Bajaj Finserv personal loan is easy if you follow these simple steps:

Step 1 – Fill in the information, including your personal, employment and financial details in the online application form on the Bajaj Finserv website.

Step 2 - Select the loan tenor and the amount needed to enjoy quick approval

Step 3 - Submit the relevant documents to a representative of Bajaj Finserv, who would contact you soon

Step 4 - Get the required loan amount disbursed into your bank account within 24 hours of approval

That’s it, here’s how you can apply for personal loans and fulfill your needs quickly.

Applying for an online personal loan at Bajaj Finserv can let you access up to Rs.25 lakh with easy-to-meet eligibility conditions and minimal documentation. Bajaj Finserv also offers flexible loan repayments tenor to help you spread the loan cost over a tenor as per your needs. The minimum and maximum personal loan repayment tenor at Bajaj Finserv is 12 months (1 year) and 60 months (5 years).

When you decide to avail a personal loan, then you also need to repay it to your lender over a tenor. But, you should choose ideal personal loan repayment tenor so that it does not affect your monthly budget. Lenders provide you with flexible repayment tenor so that you can select it as per your needs and repaying capacity. Bajaj Finserv comes with tenor ranging between 12 and 60 months. The best thing to determine the ideal repayment tenor is using the EMI calculator to know an EMI amount that you will repay. You can check if the EMI amount will affect the monthly budget or not. Based on your findings, you can increase or decrease the loan tenor.

When you apply for a personal loan, then you also need to repay the lender the interest amount. But, how much will be your payable personal loan rate may not be easy to find manually. To do that, you can check out the personal loan EMI calculator on Bajaj Finserv website. Once you select the desired loan amount, tenor and applicable rate of interest, the calculator will suggest an EMI amount. It will also exhibit an exact personal loan interest rate amount over the total loan amount.

When you are applying for a loan with Bajaj Finserv, then you should not worry about any hidden personal loan fees. The personal loan charges at Bajaj Finserv include processing fees, which is up to 3.99% of the total availed amount. The next up is the secure fee of Rs.4,449 that you need to pay for online approvals. You don’t need to pay any charges for downloading e-statements via customer portal - Experia. But, you will need to pay Rs.250 + taxes if you wish to acquire physical copies.

Repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks. A cut in repo rate is a sign that will lower the borrowing costs such as interest rates and EMIs for individuals and banks. Repo rate affects the interest rate on personal loans only when it is offered on a floating interest rate basis. It will become more affordable for a borrower to handle its repayments. Personal loans offered at fixed interest rates won’t get affected by a cut in the repo rate.

Personal loan foreclosures mean the closing of the loan account before the actual tenor. Many borrowers like to do that to keep away the entire obligation of the loan. But, you need to pay some personal loan preclosure charges to the lender if you do that. The preclosure charges are 4% along with applicable taxes on the principal outstanding. The time period is more than 1 month from the date of disbursal of the loan.