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) |
Bounce charges |
Rs. 700 - Rs. 1,200 per bounce. |
Pre-payment charges | Full Pre-payment
Part Pre-payment
|
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: 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
Frequently asked questions
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
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.
A Bajaj Finserv Personal Loan is available to you at a competitive interest rate starting at 11%.
Read more about our personal loan
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.
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.