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Eligibility criteria for a pre-approved personal loan offer
Since our Insta Personal Loan provides pre-approved personal loan offers, you do not have to check any eligibility criteria. Your documentation requirement may vary depending on whether you are an existing customer or a new customer.
If you are an existing customer
Since you are an existing customer with a pre-approved offer, there are no additional eligibility criteria that apply to you. Some of our existing customers may be asked to submit additional documents, such as your income proof, KYC documents, and bank statement.
If you are a new customer
Customers with an Insta Personal Loan offer may need to go through a CIBIL check and provide additional documents.
How to get an Insta Personal Loan
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Benefits of a pre-approved personal loan
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All you need to know about our Insta Personal Loan
Watch this video to know everything about our Insta Personal Loan - features and benefits, fees & charges, etc.
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Pre-approved offers
No need to complete the entire application process to know how much loan you will get.
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All you need is a valid mobile number
You can check your personal loan pre-approved offer by entering your mobile number and OTP.
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Immediate processing
No need to wait for approvals. These loans work like a green channel with no documentation required* and money in your account in 30 minutes*.
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Flexible loan tenures
Manage your loan repayment with options ranging from 6 months to 63 months.
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No hidden charges
You can read our fees and charges on this page and on our loan documents. There are no hidden charges.
*Applicable for select customers.
Fees and charges on Insta Personal Loan
| Type of fee | Applicable charges |
Rate of interest |
13% to 32% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes) |
| Documentation charges | Not applicable |
Bounce charges |
Rs. 700/- per bounce. |
Penal charge |
Penal Charge - Delay in payment of instalment(s) shall attract Penal Charge of Rs. 8 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Prepayment charges* |
Full prepayment: Part prepayment: *Foreclosure will be processed post clearance of first EMI |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount. |
Broken period interest / Pre monthly instalment interest |
Broken Period Interest/Pre-monthly Instalment interest" shall mean the amount of interest on Loan for the number of day(s) which is(are): |
| Annual Maintenance Charges | Not applicable |
| Cash Collection Handling Charges |
Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs. |
| Cash Deposit Charges |
Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices. |
| Platform Fees |
Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties. |
For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 32%, and 35.40% per annum respectively. Part-prepayment and foreclosure charges are NIL. {Average interest rate is higher than max interest rate, because maximum interest rates was reduced effective 02 May 2024 however average interest rate is computed on a volume weighted basis for last quarter (Apr'24 - Jun'24)}
Frequently asked questions
Our Insta Personal Loan is a pre-approved personal loan; wherein the lender has already evaluated your credit history to check your creditworthiness. It is an unsecured loan and since the initial approval process is already done, pre-approved personal loans are processed faster. With a Bajaj Finance Insta Personal Loan, you can expect the money in your account within 30 minutes*. Since you are already approved for the loan, you do not need to complete additional paperwork or face long processing time.
Read more about Insta Personal Loans and how to get one.
*Terms and conditions apply.
A pre-approved personal loan is processed much faster than a regular personal loan, and funds are disbursed instantly. Depending on your needs, a pre-approved personal loan can be a great option to manage your urgent financial needs.
The interest rate applicable to you depends on several factors such as your monthly income, CIBIL Score, repayment history, and so on. The interest rate for our Insta Personal Loan ranges from 13% to 32% p.a.. You can also check the regular personal loan interest rates.
You get a pre-approved loan offer with our Insta Personal Loan. The benefits of choosing a pre-approved personal loan include:
Faster processing: You do not need to go through a lengthy approval process associated with regular personal loans.
Instant funding: Since you are screened for your creditworthiness beforehand, the loan disbursal process is significantly shortened. You can get the funds you need in as little as 30 minutes**.
Flexible tenures: With Insta Loans, you can pick a convenient repayment tenure ranging from 6 months to 63 months.
Minimal to no documentation: Pre-approved personal loans require minimal documentation for loan processing.
Click here to know all about our Insta Personal Loan.
*Terms and conditions apply.
You can check your pre-approved loan offer using the following steps:
- Click on ‘CHECK OFFER’
- Enter your 10-digit mobile number and OTP
- Once verified successfully, your pre-approved personal loan offer details will be displayed on your screen
Read more on how your pre-approved personal loan amount is decided.
Minimal to no documentation is one of the most significant advantages of our pre-approved personal loans, and in some cases, you might not even need to provide any income proof. In case you are asked for documents, you will only need the following:
- KYC documents
- Cancelled cheque
- Bank account details
Read more on eligibility criteria and documentation.
Yes, if you have a pre-approved offer of Bajaj Finance Insta Personal Loan, you will get the funds upon application. Simply enter your mobile number and OTP to check your offer.
Yes, you can get a pre-approved offer for a Rs. 30,000 personal loan. With our Insta Personal Loan, you can get pre-approved offers for loans of Rs. 20,000 to Rs. 12,76,500.
Bajaj Finance offers pre-approved offers to their existing customers. Depending on your profile, you may be eligible for a personal loan amount. Various factors that influence your creditworthiness are examined before extending a pre-approved offer.
