Unsecured Loan

Need funds without pledging assets? Unsecured personal loans are loans that don't require collateral—like a car or house—to back them up. Instead, lenders rely on the borrower's creditworthiness and financial history to decide whether to approve the loan and what terms to offer.

Because there's no collateral to claim if the borrower defaults, unsecured loans typically come with higher interest rates compared to secured loans. Online unsecured personal loans can be used for various purposes, such as funding home improvements, managing medical expenses, or covering any other unexpected expenses.

✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

An unsecured personal loan is approved without any collateral or asset pledge. Lenders check your CIBIL score, income, employment status, and repayment history to decide your eligibility and loan terms. The entire process is based on trust and your financial profile rather than physical security.
 

Key difference: Unlike secured loans (home loans, car loans) where your asset can be seized upon default, unsecured loans carry no such risk to your property—making them ideal for borrowers who don't wish to pledge assets.

Unsecured personal loans offer complete flexibility in how you use the funds:
 

• Medical emergencies: Cover hospital expenses, surgeries, treatments, and healthcare costs without waiting or depleting savings.
• Home renovation or repairs: Fund home improvements, repairs, or interior design projects to enhance your living space.
• Debt consolidation: Combine multiple debts and credit card payments into one manageable monthly instalment at a lower rate.
• Travel and education: Finance dream vacations, higher education, skill development courses, or study abroad expenses.
• Wedding expenses: Manage venue bookings, catering, ceremonies, and all wedding-related costs without financial stress.
• Personal needs: Address any unexpected expense or personal requirement comfortably.

An unsecured loan is a loan that does not require collateral, making it an ideal option for individuals who need quick access to funds. These loans are offered based on the borrower's creditworthiness and repayment history:
 

Personal loans

Used for various expenses like medical emergencies, weddings, or travel. Small unsecured personal loans are easily accessible with flexible repayment terms and can range from Rs. 40000 to Rs. 55 lakh.

Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Education loans

Offered to students for funding higher education without requiring collateral. These loans cover tuition fees, accommodation, books, and living expenses during the study period.
 

Business loans

Unsecured loans designed for entrepreneurs and businesses to manage operational expenses, working capital needs, or expansion plans without pledging business assets.
 

These loans offer financial flexibility without the need to pledge assets. However, eligibility and interest rates depend on factors such as income, credit score, and repayment history.

High loan amount

Manage your small or large expenses with quick personal loans ranging from Rs. 40000 - Rs. 55 lakh.
 

Flexi loans

Make multiple withdrawals from a dropline limit and pay interest only on the withdrawn funds, with our Flexi loans.
 

Convenient tenures

Manage your loan easily with repayment options ranging from 12 months to 96 months.
 

Pre-approved offers

You can check if you have a pre-approved offer for a personal loan in Kurnool with just your phone number and OTP – no need to visit the branch.

Approval in just 5 minutes*

Complete your entire personal loan application online from the comfort of your home or wherever you are and get an instant personal loan with fast approval.
 

Money in your account in 24 hours*

Your bank account will be credited with your loan amount within 24 hours* or, in some cases, on the same day of approval.
 

No hidden charges

Our fees and charges are mentioned clearly on this page itself and also on our loan documents. We advise you to read these in detail before applying.
 

No guarantor or collateral needed

You do not need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.

Online account

Keep yourself updated with all your loan details on our customer portal – Bajaj Finserv My Account
 

*Terms and conditions apply.
 

These features make this one of the best personal loans in India.

Interest rates for unsecured personal loans vary widely, reflecting the borrower's credit profile and financial situation. Typically, personal loan interest rates for loans without collateral are higher compared to secured loans due to the increased risk for lenders.

In the case of Bajaj Finserv Personal Loan, the interest rates range from 10% to 31% p.a. Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 
 

The interest on unsecured loans is determined by factors like credit score, income, and repayment history. Use a personal loan EMI calculator to estimate your EMIs beforehand. Understanding these rates is crucial for managing the overall cost of borrowing effectively.

The personal loan eligibility differs from lender to lender. You can qualify for a Bajaj Finserv Personal Loan once you meet the five simple eligibility criteria mentioned below:

• 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.

The documents required for personal loan can vary from lender to lender. Below are the documents that are required to be submitted 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
• Phone bill
• Real-time image / photograph
• Ration card

1. Click on ‘CHECK ELIGIBILITY’ on this page.
2. Enter your 10-digit mobile number and the OTP sent to your phone.
3. Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
4. Now, click on ‘PROCEED’ to visit the loan selection page.
5. Enter the offer or loan amount that you need. Choose from our personal loan variants.
6. Choose the repayment tenure and click on ‘PROCEED’.
7. Complete your KYC and submit your application.

Our representative will contact you for further steps.

Loan applicants new to Bajaj Finserv can apply for a personal loan by filling up a simple application form. If you are looking to avail of an unsecured loan, please click on ‘Apply Online’ to begin.
 

Maximise your approval chances with these strategies:

• Maintain a good CIBIL score: A score of 650 or higher significantly improves approval odds and rate offerings
• Ensure steady income: Regular, verifiable income demonstrates repayment capacity
• Avoid multiple applications: Don't apply for multiple loans simultaneously as this can lower your credit score
• Keep debt low: Maintain a healthy debt-to-income ratio below 40%
• Organise documents: Have all required documents ready for quick verification

An unsecured loan is a flexible financing option that doesn't require any security or collateral. Lenders offering unsecured loans depend on the applicant's credit score and other eligibility parameters to determine creditworthiness. This makes unsecured personal loans ideal for borrowers who need quick funds without risking their assets.
 

You can choose to avail of an unsecured personal loan from Bajaj Finserv and use the funds to manage your small and big expenses.