Bajaj Finserv Personal Loan: Eligibility, Documents, and Interest Rate + Proven Strategies
- Mudra K
- Jul 2
- 4 min read
Updated: 6 days ago
Introduction to Bajaj Finserv Personal Loan
Bajaj Finserv is one of India’s leading non-banking financial companies (NBFCs) known for its hassle-free personal loan options. With flexible repayment terms, quick disbursals, and minimal paperwork, it’s a go-to solution for people who need funds for emergencies, weddings, travel, or big-ticket purchases.

What is a Bajaj Finserv Personal Loan?
A Bajaj Finserv personal loan is an unsecured loan that doesn’t require any collateral. Borrowers can use the funds for multiple purposes—from medical emergencies to home renovation—with loan amounts up to ₹40 lakhs and flexible tenures.
Key Features of Bajaj Finserv Personal Loan
Loan Amount: ₹1 lakh to ₹40 lakhs.
Flexible Tenure: 12–96 months.
Quick Disbursal: Often within 24 hours.
Minimal Documentation: Simplified KYC process.
Online Account Management: Track EMI, statements, and status.
Eligibility Criteria for Bajaj Finserv Personal Loan
Before applying, ensure that you meet the following eligibility requirements:
Age: 21–67 years.
Employment: Salaried employees in MNCs, private or public companies.
Monthly Income: Minimum ₹25,000 (may vary by city).
Credit Score: 685 or above is preferred.
Factors That Influence Eligibility
Your creditworthiness, income stability, existing EMIs, and company category can all impact your approval chances. Maintaining a favorable credit mix and low credit utilization ratio can boost eligibility.
Documents Required for Bajaj Finserv Personal Loan
Document Type | Examples |
Identity Proof | PAN Card, Aadhaar Card |
Address Proof | Utility Bill, Passport, Voter ID |
Income Proof | Salary Slips (last 3 months), Bank Statements |
Employment Proof | Employee ID card, Offer Letter |
Tips for Faster Document Approval
Keep scanned copies ready.
Ensure your name matches exactly across documents.
Link your mobile number with Aadhaar for instant e-KYC.
Bajaj Finserv Personal Loan Interest Rate
Interest rates start from 11% p.a. and can go up to 35% p.a. depending on your credit score, employer profile, and loan amount.
Lender | Interest Rate Range |
Bajaj Finserv | 11%–35% p.a. |
HDFC Bank | 10.50%–21% p.a. |
ICICI Bank | 10.50%–19% p.a. |
How to Apply for Bajaj Finserv Personal Loan
You can apply online or visit a Bajaj Finserv branch. Online is faster and paperless.
Online Application via Bajaj Finserv App
Download the Bajaj Finserv app.
Please log in to review your eligibility.
Select your loan amount & tenure.
Upload documents.
Get instant approval.
E-sign agreement.
The bank disburses the loan amount.
Repayment Options and Charges
The loan tenure is flexible, extending up to 96 months.
You can make prepayments following a 12-EMI lock-in period.
Foreclosure charges: Up to 4% on outstanding principal.
Pros and Cons of Bajaj Finserv Personal Loan
✅ Quick disbursal
✅ High loan amounts
✅ Flexible tenure
❌ Higher interest for low credit scores
❌ Prepayment charges applicable
Expert Tips to Get Lowest Interest Rates
Keep your credit score above 750.
Maintain job stability.
Avoid multiple loan applications at once.
Negotiate processing fees.
How to Apply for Bajaj Finserv Personal Loan
Applying for a Bajaj Finserv Personal Loan is quick and completely digital. Here’s a clear step-by-step guide to make your loan application process smooth and hassle-free:
Step-by-Step Application Process
Check Eligibility Online: Visit the official Bajaj Finserv Personal Loan page or use their mobile app to check your pre-approved loan offers.
Fill in Basic Details: Enter your name, mobile number, employment details, and desired loan amount.
Select Loan Amount & Tenure: Use the EMI calculator to choose an amount and repayment period that suits your budget.
Upload Required Documents: Scan and upload your KYC documents—Aadhaar Card, PAN Card, salary slips, and bank statements.
Complete e-KYC & Verification: Complete e-KYC via Aadhaar OTP verification for quicker approval.
Loan Approval & Disbursal: If all documents and credit scores check out, you’ll get instant approval. Your bank account will receive the loan amount directly, typically within 24 hours.
✅ Tip: Always keep your mobile number linked with your Aadhaar to avoid delays.
Customer Reviews and Experiences
Are you curious about the opinions of actual customers regarding Bajaj Finserv Personal Loans? Here’s what borrowers typically highlight:
⭐️⭐️⭐️⭐️⭐️ “I got my loan approved in just one day. The online process was so simple!” — Priya R., Bangalore
⭐️⭐️⭐️⭐️ “Minimal documentation and quick disbursal saved me during a medical emergency.” — Ajay K., Pune
⭐️⭐️⭐️⭐️ “Their customer service was helpful when I needed help with my EMI dates.” — Neha S., Delhi
⭐️⭐️⭐️ “Interest rate was slightly higher than expected but overall, the process was transparent.” — Sandeep P., Hyderabad
⭐️⭐️⭐️⭐️⭐️ “Prepayment was easy. Closed my loan early with no hidden charges.” — Rohan M., Mumbai
These reviews show that speed, transparency, and customer service are what Bajaj Finserv users appreciate most—making it a trustworthy choice for urgent or planned expenses.
FAQs
1. How much time does Bajaj Finserv take to approve a personal loan?
If the documents are accurate, the approval process typically takes 24–48 hours.
2. Can I foreclose my Bajaj Finserv Personal Loan early?
Yes, after paying 12 EMIs. Foreclosure charges apply.
3. Is there any collateral required?
No, it’s an unsecured loan.
4. Does Bajaj Finserv charge a processing fee?
Yes, up to 4% of the loan amount.
5. What is the minimum salary required?
Minimum: ₹25,000 monthly, varies by city.
6. Will missing an EMI impact my credit score?
Yes, delays can reduce your credit score significantly.
Conclusion
Bajaj Finserv Personal Loan is an excellent choice if you want speed, flexibility, and trustworthiness. Just ensure you meet the eligibility, keep your documents updated, and compare rates to get the best deal.
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