Loan Types
Calculator
FAQs
Video
Rs. 40,000 - Rs. 55 lakh
You may be eligible for a pre-approved offer
Enter mobile and OTP | Check offer | No branch visit needed
In summary
A personal loan for salaried employees from Bajaj Finance is available from Rs. 40,000 - Rs. 55 lakh, with interest rates ranging from 10% – 30.5% per annum and repayment tenures of 12 months to 108 MONTHS.
Eligibility requirements:
- Indian nationality
- A minimum CIBIL score of 650
- Employment with a public, private, or MNC company.
21 years to 80 years (Higher age limit at the time of loan maturity)
Applicants can complete the online application process and receive funds within 24 hours* of approval.
*Terms and conditions apply
What is a personal loan for salaried employees?
A personal loan for salaried employees is an unsecured credit facility offered to individuals who earn a regular monthly salary from a public, private, or MNC employer. Because the loan is unsecured, no collateral or asset pledge is required — lenders assess eligibility primarily based on monthly income, credit score (CIBIL), employment stability, and existing debts.
Bajaj Finance provides personal loans for salaried employees to help you meet various unplanned or planned expenses like a medical emergency, home renovation, debt consolidation, wedding expenses, and more.
✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.
Personal loan for salaried employees: Key facts at a glance
A personal loan for salaried employees offers access to Rs. 40,000 to Rs. 55 lakh without requiring collateral. Eligible applicants can benefit from interest rates ranging from 10% and 30.5% p.a., flexible repayment tenures of 12 months to 108 MONTHS, and disbursal within 24 hours* of document verification. The table below provides a quick overview of the key features, eligibility requirements, and charges to help you compare and understand the loan before applying.
| Parameter | Detail |
| Loan Amount | Rs. 40,000 to Rs. 55 lakh |
| Interest Rate | 10% – 30.5% per annum |
| Minimum Monthly Salary | Rs. 25,001 onwards (varies by city) |
| Minimum CIBIL Score | 650 or higher |
| Tenure | 12 months to 108 MONTHS (up to 9 years) |
| Processing Fee | Up to 4.13% of loan amount (inclusive of applicable taxes) |
| Part-Prepayment Charges | For Flexi Loan Variants: Nil — part-prepay as many times as needed at no extra cost; For Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal loan amount prepaid on the date of such part-prepayment |
| Foreclosure Charges | Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment |
What are the features and benefits of salaried personal loan?
- High loan amounts up to Rs. 55 lakh: Manage both small and large expenses with quick personal loans ranging from Rs. 40,000 to Rs. 55 lakh.—perfect for home renovation, wedding, higher education, or medical emergencies.
- Flexi loans: Make multiple withdrawals from a dropline limit and pay interest only on the withdrawn funds, with our Flexi loans.
- Pre-approved offers: You can check if you have a pre-approved offer for a personal loan with just your phone number and OTP – no need to visit the branch.
- Convenient repayment tenures up to 108 MONTHS: Manage your loan easily with flexible repayment tenures ranging from 12 months to 108 MONTHS, allowing you to choose EMIs that fit your income cycle and budget.
- Online application: Complete your entire personal loan application online from the comfort of your home or office and get an instant personal loan with quick approval.
- Money in account within 24 hours*: Your bank account will be credited with your loan amount within 24 hours* of approval—ideal for urgent business or personal needs.
- Complete transparency: Our fees and charges are mentioned clearly on this page and in all loan documents. We maintain complete transparency, allowing you to make informed financial decisions.
- No guarantor or collateral needed: You don't need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.
*Terms and conditions apply.
These features make this one of the best personal loans in India.
What are the personal loan eligibility criteria for a salaried person?
You can avail of a best personal loan for a salaried person from Bajaj Finance if you meet the following personal loan eligibility criteria:
| Nationality | Indian |
| Age | 21 years to 80 years |
| Employed with | Public, private, or MNC. |
| CIBIL Score | 650 or higher. |
| Customer profile | Self-employed or Salaried |
*You should be 80 years or younger, at the end of the loan tenure.
What are the documents required for a salaried personal loan?
Documentation requirements for a Bajaj Finance Personal Loan are minimal. Five document categories are required at the time of application:
| Document Category | Accepted Options |
|---|---|
| KYC proof | Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card |
| Identity proof | PAN card, Real-time image / photograph |
| Employment proof | Employee ID card, Letter of Allotment of Accommodation Issued by Employer |
| Income proof | Salary slips — last 3 months, Bank account statements — last 3 months |
| Others | Pension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt |
Know more about the personal loan documents required during application.
Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
What interest rate and charges apply to salaried personal loans?
Bajaj Finance Limited offers personal loans for salaried employees at reasonable interest rates ranging from 10% to 30.5% per annum. Read about personal loan interest rates and look at the additional charges before applying to know the total cost of borrowing.
| Charges | Details |
| Interest rate | Usually ranges from 10% to 30.5% p.a. , depending on eligibility and lender policies |
| Processing fee | Up to 4.13% of the loan amount (inclusive of applicable taxes). |
| Loan tenure | Typically ranges from 12 months to 108 MONTHS |
| Bounce charges | Rs. 700 to Rs. 1,200/- per bounce |
| Prepayment/foreclosure charges | Up to 4.72% (Inclusive of applicable taxes) |
| Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from loan amount |
How to apply for a personal loan for salaried employees in 5 steps?
Applying for a salaried loan online is simple and time-efficient. With Bajaj Finance, you can get an instant personal loan for salaried employees through a seamless digital process that requires minimal effort. Here’s how you can apply:
- Click on ‘Check Eligibility’
- Enter your 10-digit mobile number → Verify with OTP.
- Fill in basic details: full name, PAN, date of birth, employment type, etc.
- Some existing customers will see their pre-approved offer. If not, select your loan amount (Rs. 40,000 - Rs. 55 lakh) and repayment tenure (12 months to 108 MONTHS).
Upload required documents: Eg. KYC proof (Aadhaar/PAN), salary slips for the last 3 months, 3-month bank statements etc. and submit.
Our representative may contact you for next steps. Funds are disbursed within 24 hours* of approval.
*Terms and conditions apply
Multi-purpose personal loan:
| Personal Loan for Travel | Personal Loan for Medical Emergency | Personal Loan for Home Expenses |
| Personal Loan for Students | Personal Loan for Wedding | Personal loan for agriculture expenses |
Which personal loan plans are best for salaried people planning to repay early?
For salaried borrowers who plan to repay early, the Bajaj Finance Flexi Term Loan is generally a cost-efficient option since it has zero part-prepayment charges.
- With a Flexi Term Loan, you withdraw from a pre-approved limit, pay interest only on the amount withdrawn, and can make part-prepayments any number of times without penalty.
- With part-prepayments, you can reduce your principal progressively without any additional cost.
- The best plan for early repayers depends on how predictable your surplus income is: Flexi Term Loan suits variable repayments, while Term Loan suits lump-sum, regular EMIs.
For example: Let us assume that Riya is a 30-year-old salaried employee in Hyderabad working at a private IT firm, earning Rs. 60,000 per month with a CIBIL score of 740. She meets the eligibility criteria and qualifies for a personal loan of up to Rs. 10 lakh.
- If she borrows Rs. 5 lakh at 13% p.a. for 36 months, her EMI would be approximately Rs. 16,861 per month.
- Total repayment over 3 years: approximately Rs. 6,07,000.
- If she receives a mid-year bonus and chooses to part-prepay Rs. 1 lakh after month 12, her remaining principal is reduced and she pays less interest going forward — with no part-prepayment penalty on a Flexi Term Loan.
Note: Full pre-payment or foreclosure of Flexi Loan has charges of up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount, as on the date of full pre-payment.
Which personal loans have the fewest prepayment or foreclosure charges?
Among personal loans for salaried individuals in India, the Bajaj Finance Personal Loan stands out for its part-prepayment policy — with its Flexi variants, you can part-pay your outstanding balance as many times as you want at no extra cost. All variants carry a nominal foreclosure charge as disclosed in the loan agreement. You can verify the exact charges applicable to your offer in your loan sanction letter before accepting.
Key offerings: 3 loan types
Personal loan interest rate and applicable charges
Type of fee | Applicable charges |
Rate of interest per annum | 10% to 30.5% p.a. |
Processing fees | Up to 4.13% of the loan amount (inclusive of applicable taxes). |
Flexi Facility Charge | Term Loan – Not applicable Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes) |
Bounce charges | Rs. 700 to Rs. 1,200/- per bounce “Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason. |
Part-prepayment charges | Full Pre-payment:
Part Pre-payment
|
Penal charge | Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum 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 (Dropline) Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.
Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure |
| Credit guarantee scheme fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year. *Renewal Fee to be collected only for 3 subsequent financial years. **If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated. |
Not your nearest branch?
Frequently asked questions — Personal loan for salaried employees
Overview
Eligibility and Application Process
Bajaj Finance offers one of the fastest personal loan disbursals for salaried employees in India. For select existing customers with a pre-approved offer, funds can be credited in as little as 30 minutes* to 4 hours with zero additional documentation through Insta Personal Loan. For new salaried applicants, the process takes approximately 5 minutes to apply online, and funds are typically disbursed within 24 hours* of document verification and approval.
Bajaj Finance Personal loan can be repaid over the loan tenure of 12 months to 108 MONTHS.
A personal loan for salaried individuals can be used for a variety of purposes, including home renovations, medical expenses, or even education fees. The flexibility of personal loans allows borrowers to address diverse financial needs, making it a versatile solution for different situations.
Depending on the situation, you may be required to pay additional charges on your personal loan. These include bounce charges (in case of a bounced cheque or missed EMI), processing fees for the loan, part-prepayment or foreclosure charges, and others.
Read the complete list of processing fees and charges applicable to your personal loan.
Yes, you have the option of foreclosing or part-prepaying your personal loan. Please visit our customer portal - My Account, to initiate the same.
Applying for an online salaried personal loan with Bajaj Finance is simple. To get started, click on the ' APPLY ONLINE ' button and follow the suggested instructions. We recommend you keep your essential documents (Aadhaar card, PAN card, passport, etc.) ready as you will need to upload the same. You can also visit your nearest Bajaj Finance branch to apply for a salaried personal loan.
The application process for a personal loan for salaried employees is quick and easy. All you need to do is follow a few simple steps. If you meet the eligibility criteria and provide all the necessary documents, you can expect approval within 5 minutes.
Any individual who meets the eligibility criteria can avail of a salaried personal loan with Bajaj Finance Limited. To be eligible for our personal loan, you need to fulfil the following criteria:
- Nationality: Indian
- Age: 21 years to 80 years.
- Employed with: Public, private, or MNC.
- CIBIL Score: 650 or higher.
- Customer profile: Self-employed or Salaried
*You should be 80 years or younger, at the end of the loan tenure.
With a Bajaj Finance Personal Loan, you can get the funds within 24 hours* of approval. Check your loan offer in just 2 steps and apply online to get our loan.
*Terms and conditions apply.
Missing EMIs can lead to penalty charges, a lower credit score, and legal action by the lender. It may also affect future loan approvals.
Related articles
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000