Personal Loan

To get a quick personal loan, you only need to meet a few basic personal loan eligibility criteria:

• You must be between 21 years and 80 years* of age
• You must be a salaried individual employed with an MNC, public or private company
• You must be a residing citizen of India
• If you meet the salary requirement based on your city of residence, you can qualify for the loan.

You should be 80 years* or younger, at the end of the loan tenure

You will be asked to submit the following documents to get a personal loan from Bajaj Finserv:

• 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
• Real-time image / photograph
• Ration card

Here is why you should choose a Bajaj Finserv Personal Loan

*Terms and conditions apply

While the personal loan eligibility calculator provides an estimate of your loan eligibility based on your income, credit score, and other factors, approval is subject to the lender's discretion and additional criteria such as employment status and existing debts.

The ideal credit score to get instant paperless approval for the best personal loan in India differs from lender to lender. A CIBIL Score of 685 and above is required to get a Bajaj Finance Personal Loan.

The rate of Interest per annum (% p.a.) is the cost that the borrower must pay for money borrowed from the lender. The interest is payable on principal loan amount basis the loan tenure opted. Bajaj Finance Limited offers personal loans with a rate of interest per annum ranging from 10% to 31% p.a. which can be repaid over tenures between 12 months to 96 months.

For instance, Priya took a personal loan of ₹1 lakh at a rate of interest per annum of 15% p.a. for a tenure of 12 months. In this scenario, Priya’s annual interest payable will be around ₹8,310 and her monthly EMI shall be around ₹9,026. Here, she will be repaying around ₹1,08,310 in total during the loan tenure towards principal and interest component, apart from other charges applicable, if any.

*Terms and conditions apply.

You can use our personal loan EMI calculator to compute the monthly instalment and tenure that suits your budget. You only need to enter the amount you need to borrow, the interest rate, and the tenure to get an estimate of the EMI. If you are considering different types of loans, you can also use our generic EMI calculator to get estimated EMIs.

A Flexi day-wise interest calculator helps borrowers understand the interest accrual and repayment dynamics of Flexi Loan products, enabling them to manage their finances efficiently and optimise interest costs.

Lenders provide an interest rate when you opt for a personal loan. The personal loan interest rate depends on several factors including CIBIL Score, income, debt-to-income ratio, employment stability etc. Once you know the interest rate, you can use the interest calculator to know your EMI outflow.

Processing fees are charges that are usually levied on the total loan amount sanctioned. Bajaj Finance Ltd charges up to 3.93% of the loan amount (inclusive of applicable taxes).

For instance, Rohit has taken a Personal Loan amount of ₹1,00,000 with a processing fee of 3.93% (₹3930). The total amount shown during the application will be ₹1,03,930 and the final disbursed amount: ₹1,03,930 – ₹3,930 = ₹1,00,000. The processing fee is added to the loan amount upon application and deducted at the time of disbursal.



With Bajaj Finance Limited, you can expect instant approval on your personal loan application.

You can repay your personal loan in the form of EMIs (equated monthly instalments). Here, a fixed amount is automatically deducted from your bank account every month. You can set up a NACH mandate with your bank to pay the EMIs.

Here are some reasons to choose the Bajaj Finserv Personal Loan:

• Loan amount of up to Rs. 55 lakh
• Flexible tenures of up to 96 months
• Money in your account within 24 hours* of approval
• No guarantor or collateral needed
• No hidden charges

*Terms and conditions apply.

To choose the best personal loan in India, compare interest rates, processing fees, and tenure across multiple lenders. Assess your credit score and eligibility. Consider hidden charges, repayment flexibility, and customer reviews. There are many personal loan finance companies, but you should opt for a reputable lender with favourable terms and transparent policies that align with your financial needs and capabilities.

A personal loan balance transfer involves transferring your existing personal loan to another lender offering lower interest rates or better terms, reducing your overall interest burden and monthly EMI. This helps in saving money and improving loan manageability.

Since our personal loan is unsecured, it is a loan without security. You do not have to pledge collateral such as property or gold to get our personal loan.

To get an instant personal loan from Bajaj Finance, you need to have a credit score of 685, or higher. Please note that there are several other parameters as well, that influence your personal loan application approval.