Bajaj Finance offers personal loans to salaried applicants @ 11% p.a. onwards for loan amounts of up to Rs 40 lakh and for tenures of up to 8 years. It also offers personal loans to self-employed applicants @ 15% p.a. onwards for loan amounts of up to Rs 50 lakh and for tenures of up to 8 years.
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Bajaj Finance Personal Loan Details |
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|---|---|---|---|
| Particulars | Salaried | Self-employed | Tenure |
| Interest rate | 11% p.a. onwards | Up to 25% p.a. | Up to 8 years |
| Loan amount | Up to Rs 40 lakh |
|
Up to 8 years |
| Processing fee | Up to 3.93% of the loan amount | Up to 2.95% of the loan amount | Up to 8 years |
| Bank/ NBFCs | Interest Rate | |
|---|---|---|
|
11% p.a. onwards | |
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10.75% p.a. onwards | |
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10.75% - 21.50% | |
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11.00% - 13.75% | |
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10.75% - 21.50% (Fixed) | |
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Starting from 16.99% |
Bajaj Finance offers personal loans to its applicants based on various factors such as credit score, age, employment, monthly income, and debt-to-income ratio. The existing customers may be offered personal loans at more favorable interest rates.
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Loan type |
Interest rates |
|---|---|
| Personal Loan for Salaried | 11% onwards |
| Personal Loan for Self-employed | 15%-25% |
| Personal Loan for Doctors | 9%-12.50% |
| Personal Loan for Chartered Accountants | 14%-17% |
| Flexi Personal Loan | 14%-17% |
| Processing fee | Up to 3.93% of the loan amount |
| Foreclosure charges |
|
| Part pre-payment Charges | 2% + taxes |
| Penal Interest | 2%-4% per month |
| Document/Statement Charges/Account, Statement/Repayment, Schedule/Foreclosure Letter/Interest, Certificate/No dues, certificate/Documents list | Rs. 50 |
| Bounce Charges | Rs. 600-Rs. 1,200 |
| Stamp Duty | As per actuals |
| Mandate Rejection Service Charge | Rs. 450 |
| Annual maintenance charges |
|
| Processing Fee | Up to 2.95% of the loan amount |
| Bounce Charges | Up to Rs 3,000 |
| Penal Interest | 2% p.m. |
| Processing Charges | Rs 2,000 + taxes |
| Outstation Collection Charges | NA |
| Document/Statement Charges | Rs. 50 |
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| Year | Principal(A) | Interest(B) | TOTAL PAYMENT(A + B) | BALANCE |
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Borrowers can avail of Bajaj Finance Personal Loan by contacting Eazybankloan.com. We have an easy process to help you avail best offers on your loan based on your eligibility criteria. You can also compare different bank personal loan offers and choose the best offer for your needs.
Bajaj Finance Flexi Personal Loan is a Personal Loan Overdraft facility wherein the applicant can withdraw funds from a pre-approved limit offered based on their credit profile. Borrowers can repay this amount whenever they have a surplus amount in hand. Interest is paid only on the amount withdrawn till its repayment.
Now the banks or financial institutions provide personal loans for various purposes such as for home renovation, family marriage, child education, medical expenses, and any other emergencies. For applying the loan, visit the website of the bank or financial institution and choose the specified bank for applying the loan. At first, you have to fill the instant personal loan application with the required details. As a result, you will notice that the loan can avail within 24 hours of approval.
For getting a personal loan, you have to submit many of the important documents on the websites of banks or financial institutions that can provide bank loans from multiple banks. Such as:
EMI calculator is used in the personal loan for calculating the different consequences of the loan in 3 states such as loan amount which defines the rupee's value of the loan that you have borrowed from the bank, the interest rate which defines the amount charged by the bank for your taken loan and none other than the tenure of the personal loan that defines the period of which you take the personal loan.
A personal loan can help millions of people to meet their shortfall financial crisis such as buying a new car, sudden medical expenses, education of children and other things. The main reason behind taking the personal is, it is less expensive than other forms of credit and has a lower interest rate that allows you to pay off the debt faster as well as affordable monthly payments during the loan term.
People are generally applied for taking personal loans to cover up their medical bills, debt consolidation, and home improvements. The personal loans are commonly meant to meet the unavoidable pay off and urgent expenses. On the other hand, you can also pay off the personal loan for paying less urgent things in your life such as weddings, vacations and many more.
Yes, a personal loan can be available for a holiday of travel purposes with a loan term between 1 to 7 years. The reason behind using the personal loan for travel purposes is,it can offer a fixed interest rate, fixed monthly payment, fixed repayment schedule and easy to apply for online. So, while planning for holiday travel by applying the personal loan make sure that the trip doesn't ruin your finances.
The personal loan is commonly defined as a fund that can be provided to the people of immediate cash requirements or financial needs. So, when you are applying for a personal loan then the lender never asks you about the end-user and does not require any type of collateral fee or security such as property, gold, etc. for approving the loan.
When you are deciding to apply for the personal loan online, you have to follow a few of the below steps:
Now the loan applicants can easily check the status of their personal loan by availing the online calculators provided by the bank or financial institutions. For checking the status of the personal loan the applicants first need to visit the online portal of the bank with the following inputs. Such as:
As we know that the personal loans are an unsecured form of a loan that can be applied for fulfilling the immediate requirements. Yes, you can get a personal loan instantly for overcoming your temporary financial crisis. Without any restriction, the amount you borrowed in the personal loan can be used for any purpose you want.
In other words, the personal loans are also called as installment loans. So, the borrowed money can be paid in installment with some interest over the life of the loan which can be generally ranged from 12 to 84 months. Throughout the process, once you have paid the loan in full, your account will be closed automatically. Shortly, if you need more money, then you can apply for a new personal loan.
A credit score is a number that is indicating your creditworthiness. Through the credit score, the lenders can determine your ability to repay the debts. While applying for a personal loan, a credit score is very important means you have a chance of getting the loan easily. On the other hand, the higher your credit score, the lower your interest rates will be and vice versa.
The maximum amounts qualify for your personal loan is based on your creditworthiness. On the other hand, the loan amount also determined through your monthly income. Most banks can limit the personal loan at Rs. 25 lakhs to an individual. In a few of the cases, the loan applicants are eligible for getting their personal loan amount up to 30 times of their monthly income.
Before approving a loan application, the lenders generally give more emphasis on the credit score of the borrowers. If you have a low credit score, then you will get a low amount of loans with higher interest rates because higher creditworthiness can reduce the loan interest in a few instances. So, for approving a higher amount of personal loans, always tried your best to increase the credit score.
