Why choose Bajaj Finserv Personal Loan

Instant approval, minimal paperwork. Here’s why our personal loans are ideal to meet your expenses.
Why choose Bajaj Finserv Personal Loan
4 min read
28 Sep 2022

We know that you have a choice to get a personal loan from one of the many banks and financial service providers in the country. We’ve put in that extra effort in crafting our personal loans to give you a reason to choose us over others.

One of the biggest differentiators of our personal loans is the three variants – Flexi Hybrid, Flexi Term, and Term loans. Flexi Loans have been created keeping in mind the fact that there may be many occasions in your life when you may need funds at the last moment and may have windfall gains too when you’d like to close your loan far before the completion of the tenure.

Here is a detailed description of the three personal loan variants.

Flexi Term Loan

In a Flexi Term Loan, you are assigned a line. You can withdraw from this line as many times as you’d want to and part-prepay as many times as you can. Let’s take an example:

Bhairavee got a line of Rs. 3 lakh for a tenure of 36 months. Initially, she withdraws only Rs. 2 lakh. For the first six months, she pays the regular equated monthly instalment (EMI) that consists of only the interest applicable on the amount withdrawn.

Suddenly, she needs another Rs. 50,000. She can visit My Account (our customer portal) and withdraw an additional Rs. 50,000 from her Flexi Term Loan account.

Three months later, she gets annual bonus of Rs. 1,00,000 and would like to pay back a part of her Flexi Term Loan. This time again, all she needs to do is go to My Account and pay back a part of her Flexi Term Loan.

All this while, the interest is automatically adjusted, and so are her EMIs. Unlike in the case of other personal loans, there is absolutely no fee/ penalty/ charges for paying back or withdrawing.

Flexi Hybrid Loan

This is a different kind of personal loan from us that works just like the Flexi Term Loan. The only difference is that your EMI will only include interest for the initial part of the loan, which will depend on how long the loan is for. For the rest of the time, the interest and principal will make up the EMI.

In this case too, there is no fee/ penalty/ charges for paying back or withdrawing.

Term loan

This is the same as any other personal loan. You take out a loan for a certain amount of money, which is then split into equal monthly payments that include both the principal and the interest. If you pay off your term loan before the end of your loan term, you will have to pay a fee.

Pre-approved/ pre-assigned limits

We respect the fact that you chose us over others. Based on your repayment record and other details provided by you at the time of starting your relationship with us, we create pre-approved offers so that our existing customers can get a friction-less experience the next time they come back to take another product.

We have also created a new service wherein non-customers can also opt for our services. We have recently introduced a platform – Instant Personal Loans – wherein anyone with a valid mobile number can come and create an offer real-time.

Both these scenarios are explained in detail below:

If you are an existing customer:
You don’t need to complete an application to know how much loan you are going to get. This information is available to you by entering your mobile number and OTP.

If you are a new customer:
These offers come with pre-assigned limits. However, we may need additional documents to complete the loan process.

In either of these scenarios, if you do not see an offer or need a higher loan amount than the pre-assigned limit, you have the option to go for our regular online application process that takes less than 5 minutes.

These are only some of the key features of our personal loans. Hereunder are a few additional features that may be useful for you:

Higher loan amounts

We offer personal loans ranging from Rs. 20,000 to Rs. 40 lakh. This sum is sufficient to manage large expenses including home renovation, weddings, and even higher education. With a very quick approval time, you can even use the loan amount to manage an unplanned expense such as a medical emergency.

How is my loan amount decided?

Quick online processing

It takes less than 5 minutes to fill out the online application form. And in most cases, less than 24 hours* to get the money credited to your bank account.

Long repayment tenures

Bajaj Finserv offers repayment tenures ranging from 6 months to 96 months. You can choose a longer tenure if you want low EMI, and a shorter one if you wish to pay less on interest.

No need for any collateral or guarantors

Yes, that’s true. You do not need any collateral or guarantor to get yourself a Bajaj Finserv Personal Loan.

How do I apply for the Bajaj Finserv Personal Loan?

Applying for a personal loan with Bajaj Finserv is easy. Simply follow these 5 steps:

  1. Start your application by clicking on the ‘Apply’ button at the top of this page
  2. Enter your 10-digit mobile number (you will get an OTP on this number)
  3. Fill out the application form with your personal and employment details
  4. Enter the amount that you want to borrow, then choose your loan variant and repayment tenure
  5. Complete your KYC and submit the application



While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply