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Personal Loan

Personal Loan Interest Rates

Personal Loan Interest Rates & Charges

Bajaj Finserv offers attractive interest rates on personal loans up to Rs.25 lakh that can help you meet a range of financial requirements. Get collateral-free loans, with minimum documentation, flexible tenor and disbursal within 24 hours of approval.

With Bajaj Finserv Personal Loan, you do not have to worry about any hidden fees or charges. Here are more details on the personal loan interest rates and charges:

Types of Fees Charges Applicable
Personal Loan Interest Rates 12.99% onwards
Processing fees Up to 4.13% of the loan amount(Inclusive of taxes)
Bounce Charges Rs. 600 - 1200 Per bounce (Inclusive of applicable taxes)
Penal interest 2% of EMI amount per month + applicable taxes or Rs. 200 per month (Inclusive of taxes), whichever is higher.
DOCUMENT/STATEMENT CHARGES

Statement of Account/ Repayment Schedule/Foreclosure Letter/No Dues Certificate/Interest Certificate/List of documents.
Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia.
You can get a physical copy of your statements/letters/certificates/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of taxes) per statement/letter/certificate.

If you are a salaried professional aged between 25 and 58 years living in India, you can easily qualify for a loan. As long as you match the personal loan eligibility criteria and minimum net salary specified based on your city of residence, you can avail a loan with ease and best personal loan interest rates.

Below is table for other fees and charges:

Personal Loan Foreclosure Charges

Borrower
Type
Time Period Foreclosure Charges
All borrowers More than 1 month from date of loan disbursal 4% + applicable taxes on principal outstanding*
  1. *Foreclosure charges for term loan will be applicable on the current principal outstanding.
  2. *Foreclosure charges for Flexi loans will be calculated on the reduced assigned limit.
  3. *Foreclosure charges for Flexi Hybrid loan will be as per following
    • Initial tenor - 4% + applicable taxes, on sanctioned amount
    • Subsequent tenor - 4% + applicable taxes on reduced assigned limit

Personal Loan Part-prepayment Charges

Borrower
Type
Time Period Part-Prepayment Charges
All borrowers More than 1 month from date of loan disbursal 2% + applicable taxes on part-payment amount paid*
  • *Part-prepayment made should be more than 1 EMI.
  • *These charges not applicable for Flexi Loan facility.

Annual/Additional Maintenance Charges

Hybrid Flexi Loan Flexi Term Loan Loan Limit
0.25% on sanctioned amount* + applicable taxes for 2 years
0.25% on reduced assigned limit + applicable taxes for rest of the tenor
0.25% on reduced assigned limit + applicable taxes 0.25% on Flexi Term Loan* + applicable taxes
  • *These charges will be levied annually.

Mandate Rejection Service Charge: Rs 450 (Inclusive of applicable taxes) Charges will be levied if new mandate form is not registered within 30 days from the date of rejection of previous mandate form by Customer’s Bank for any reasons whatsoever.

Personal Loan Processing Fees and Interest Rates FAQs

What is the processing fee for personal loans?

To avail the personal loan, you also need to pay some processing fee. The processing charge at Bajaj Finserv is up to 4.13% of the total loan amount.

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.

How to apply for Bajaj Finserv personal loans?

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.

How to calculate personal loan interest rate?

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.

What is the minimum and maximum personal loan repayment tenor at Bajaj Finserv?

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).

What is the preclosure charge for personal loans?

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.

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.

What are the charges for personal loans?

The personal loan charges at Bajaj Finserv include processing fees, which is up to 4.13% of the total availed amount.

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.

What is repo rate and how does it affect personal loans?

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.

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Disclaimer :

Calculator is an indicative tool to check personal loan eligibility and assist the user to calculate the loan amount that the user will be eligible to borrow. Calculation results are approximations and for information purposes only and interest rates quoted are indicative. Actual interest rates and loan eligibility amount will vary. To check eligibility for Personal Loan and know the actual eligibility amount, the user should share his complete and accurate details by clicking on the ‘apply now’ tab and provide additional information/ documents required for assessment of user’s application. Calculation results are not intended to substitute professional advice which the user is advised to seek. Loan terms and conditions apply.