Personal loan processing fees and interest rates

Read the processing fees, interest rates and charges in detail before applying for our personal loan.

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Applicable fees and charges

Type of fee

Applicable charges

Rate of interest

11% - 39% p.a.

Processing fees

Processing fee 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)
Rs. 1,999 (Inclusive of applicable taxes) for loan amount upto Rs. 1,99,999/-
Rs. 3,999 (Inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-
Rs. 5,999 (Inclusive of applicable taxes) foe the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
Rs. 6,999 (Inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
Rs. 7,999 (Inclusive of applicable taxes) for the loan amount greater than or equal to Rs. 10,00,000/-

Bounce charges

Rs. 700 - Rs. 1,200 per bounce.
Pre-payment charges

Full Pre-payment

  • Term Loan: 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
  • Flexi Term Loan (Flexi Dropline): 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: 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

  • 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

Penal interest

Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 3.50% per month on the monthly instalment/ EMI outstanding from the date of default until the receipt of the monthly instalment/ EMI.

Stamp duty

Payable as per state laws and deducted upfront from loan amount

Mandate rejection charges

Rs. 450 per month from the first month of the due date for the mandate rejected by customer’s bank until the registration of new mandate.

Annual maintenance charges

Term Loan: Not Applicable

Flexi Term Loan (Flexi Dropline): 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: 0.295% (Inclusive of applicable taxes) of the total withdrawable amount during initial tenure. 0.295% (Inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.
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):

Scenario 1: Over and above the period of 30 days from the date of disbursement of the Loan

Method of recovery of Broken Period Interest/ Pre-EMI Interest:
For Term Loan: Deduct from disbursement
For Flexi Term Loan: Added to first instalment amount
For Hybrid Flexi Loan: Added to first instalment amount

Scenario 2: Less than period of 30 days from the date of disbursement of the Loan, Interest on first instalment will be charged for actual number of days

*Terms and conditions apply

Personal loan application process

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Step-by-step guide to apply for a personal loan

  1. Click on ‘APPLY’ at the top of this page to open our online application form.
  2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
  3. Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  4. Now, click on ‘PROCEED’ to visit the loan selection page.
  5. Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
  6. Choose the repayment tenure – you can select tenure options of 6 months to 84 months and click on ‘PROCEED’.
  7. 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.

Frequently asked questions

Is there any charge applicable on part-prepayments?

Yes, there are part-prepayment charges applicable on a personal loan. However, if you have used the Flexi Loan facility, part-prepayment fees do not apply to you.
Read more about our Flexi Loan facility

What does bounce charge mean?

You are charged with a bounce charge when you fail to make an EMI payment. For each missed EMI, Bajaj Finance charges between Rs. 700 and Rs. 1,200 (inclusive of applicable taxes). Additionally, penal interest will be assessed at a rate of 3.50% in the event of a late payment or EMI default.

What is the interest rate for a personal loan?

A Bajaj Finserv Personal Loan is available to you at a competitive interest rate starting at 11%.
Read more about our personal loan

What is the maximum and minimum repayment tenure?

You can pay back your personal loan within 6 months to 84 months months. That is, you can spread out your EMIs over a maximum of 7 years.

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

The Reserve Bank of India (RBI) lends money to commercial banks at a repo rate. When the repo rate goes down, interest rates and EMIs for both individuals and banks tend to go down as well.Repo rate only affects the interest rate on personal loans if you choose a floating interest rate. A drop in the repo rate does not affect fixed-rate personal loans.

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