Instant personal loan in Indore
Indore, the largest and most vibrant city of Madhya Pradesh, is a hub of economic activity, entertainment, and rich culinary heritage. Known as the commercial capital, it houses major industrial zones, IT parks, and the Indore Special Economic Zone, making it a thriving center for goods and services. For residents seeking financial assistance, Bajaj Finserv offers quick and reliable personal loans in Indore, catering to needs like education, travel, or emergencies. With a hassle-free application process, flexible repayment tenures of up to 96 months, and swift fund disbursement, Bajaj Finserv ensures a seamless borrowing experience. Apply online or visit our branch today to access tailored financial solutions designed for your needs.
Features and benefits of personal loan in Indore
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Account facility online
Manage the loan account and stay updated about the repayment schedule through our online account management facility.
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Avail up to Rs. 55 lakh
Our personal loan EMI calculator helps you choose an appropriate loan amount up to a maximum of Rs. 55 lakh.
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Flexi loan facility
This innovative facility allows you to withdraw and repay money as per your needs.
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Instant approvals
With Bajaj Finserv, instant approval on a personal loan is now easily possible.
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Special offers
Existing customers are eligible to avail of special offers on financial products.
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Loan within 24 hours*
Receive the money in your bank within 24 hours*. To get this benefit, apply online.
Uses of personal loan in Indore
Personal loans in Indore can serve a variety of financial needs, making them a versatile option for many residents. Here are some common uses:
- Home renovations: Fund your dream home improvements or repairs with a personal loan for home expenses to enhance your living space and increase property value.
- Wedding expenses: Manage the costs of a grand wedding celebration, covering everything from venue rentals to catering with ease. Consider a marriage loan to handle these expenses and make your dream wedding a reality without financial stress.
- Medical emergencies: Access immediate funds with a medical loan for unexpected medical expenses, ensuring you receive timely treatment without financial strain.
- Higher education: Invest in your or your child’s future by financing educational expenses, including tuition fees and study materials, with a personal loan for education.
Eligibility criteria for personal loan in Indore
Qualify effortlessly for an unsecured personal loan in Indore by meeting the simple personal loan eligibility criteria set by Bajaj Finserv. Once eligible, borrowers can utilize the funds for various purposes, including debt consolidation, weddings, home improvement, travel, medical emergencies, higher education, and more. With unrestricted usage, Bajaj Finserv ensures financial flexibility to address diverse needs, making the borrowing experience seamless and efficient.
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Nationality
Indian, resident of India
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Employment
Must be a salaried employee at a reputed MNC or a private/ public limited company
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Credit score
Above 685
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Age
Between 21 years to 80 years*
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Income
Refer to our city list for minimum salary requirements
Documents required to apply for a Personal Loan in Indore
To apply for a personal loan from private finance in Indore, you need to provide specific documentation to streamline the process. Here’s a list of essential personal loan documents required when applying for a Bajaj Finserv Personal Loan:
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Piped gas bill
- Pension order
- Letter of Allotment of Accommodation Issued by Employer
- Property / Municipal tax receipt
- Utility bill
Interest rate and charges on personal loan in Indore
Our personal loan interest rates and processing fees are nominal. Check out all the charges we levy to make an informed decision.
Type of fee |
Applicable charges |
Rate of interest |
10% to 31% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes). |
Flexi Fee
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Term Loan – Not applicable Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)
*All the Flexi charges above are inclusive of applicable taxes *Loan amount includes approved loan amount, insurance premium, and VAS charges. |
Bounce charges |
Rs. 700 to Rs. 1,200 per bounce. |
Part-prepayment charges |
Full prepayment
Part-prepayment
*Foreclosure will be processed post clearance of first EMI |
Penal charge |
Delay in payment of instalment(s) shall attract penal charge of Rs. 8 - Rs. 12 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount. |
Annual maintenance charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 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: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure. |
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): Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the loan.
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Note: Additional cess if any, will be applicable to all charges according to state law.
*Terms and conditions apply.
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 34.76% 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 16 Aug 2024 however average interest rate is computed on a volume weighted basis for last quarter (Jul’24 - Sept’24)}
How to apply for a Personal Loan in Indore, Madhya Pradesh?
You can apply for a private personal loan in Indore by following these simple steps:
- Visit the personal loan page and click on ‘APPLY’
- Enter your 10-digit mobile number and OTP.
- Fill in the application form with your basic details.
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
- Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- Complete your KYC and submit your application.
Frequently asked questions
Bajaj Finserv has a highly transparent policy and no hidden charges. Pay the rates that you see.
You can repay the loan over a flexible tenor of up to 96 months months. Use the online Bajaj Finserv EMI Calculator to select the tenor that suits you.
Our personal loans are risk-free as no collateral is involved. Avail of the loan based on the simple eligibility criteria and get the funds you need.
The maximum loan amount depends on your age, minimum income, CIBIL score and other factors. To instantly check the amount you are qualified to borrow, use the online Bajaj Finserv Eligibility Calculator.
Individuals such as salaried employees, self-employed professionals, and business owners with a stable income can avail of a personal loan in Indore, provided they meet the lender's eligibility criteria.
To avail of a personal loan in Indore, you typically need identity proof, address proof, income proof (like salary slips or bank statements), and employment details to verify your financial status.
When applying for a personal loan in Indore, you can generally borrow amounts ranging up to Rs. 55 lakh, depending on your income, credit score, and lender policies.
The time taken to receive a personal loan in Indore usually ranges from a few hours to a few days, contingent on the lender’s processing speed and document verification.
