Bajaj Finserv Personal Loan

Bajaj Finance offers an easy way to apply online for a personal loan from Rs. 40,000 to Rs. 55 lakh with simple eligibility and a minimum CIBIL score of 650. There is no need for collateral and no hidden charges, and the process is fast with quick approval and funds usually disbursed within 24 hours. Interest rates start from 16% per year, and you can repay the loan over a flexible tenure ranging from 12 to 108 months.

Bajaj Finserv
Instant Loans Up To Rs. 55 Lakhs
100% Paperless Approval
✔
Loan Amount
Up to ₹55L
Interest Rate
16% and 30% per year.
Tenure
12 to 96 months.
Processing Fee
Up to 3.93%
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Fees & Eligibility
Fees & Charges
  • Full prepayment charges – Up to 4.72% (inclusive of taxes) on the outstanding loan amount at the time of full repayment
  • Part prepayment charges – Up to 4.72% (inclusive of taxes) on the principal amount prepaid (not applicable for Flexi Term and Flexi Hybrid loans)
Eligibility Criteria
  • Nationality – Must be an Indian citizen
  • Age – Between 21 and 80 years
  • Employment type – Salaried or self-employed
  • Workplace – Employed with a public sector, private company, or MNC
  • CIBIL score – 650 or above
Features
What you'll love

Quick loan approval with funds credited within 24 hours, no collateral required, flexible repayment options, and zero hidden charges.

Loan Benefits
– Get money in your account in as little as 30 minutes with a fast, paperless process
– Check your eligible loan amount easily using your mobile number and OTP
– Choose a repayment period from 12 to 96 months as per your comfort
– Complete transparency with all fees clearly mentioned upfront
– Use the loan for education, medical needs, weddings, travel, or home expenses
Proof of identity
Aadhaar, Passport, Voter ID, Driving License, NPR letter, NREGA job card, PAN card
Proof of address
Utility bill, phone bill, piped gas bill, property/municipal tax receipt, employer allotment letter
Other documents
Employee ID, last 3 months’ salary slips, last 3 months’ bank statements, pension order, latest photograph
  • Multiple loan variants – Choose from Term Loan, Flexi Term (Dropline), or Flexi Hybrid Loan as per your need
  • High loan amount – Get funding from Rs. 40,000 up to Rs. 55 lakh for small or large expenses
  • Fast approval & disbursal – Quick online application with instant approval and money credited in about 24 hours
  • No collateral required – No need to pledge assets or provide a guarantor
  • Flexible repayment options – Easy EMI plans with flexible tenures to suit your budget
  • No hidden charges – All fees and interest rates are clearly mentioned upfront
  • Free part-prepayment (Flexi Loans) – Pay early without extra charges and reduce your interest burden
Fees and Charges for this Personal Loan
Pre-payment/Part-payment charges
Full prepayment charges – Up to 4.72% (including taxes) on the outstanding loan amount at the time of full repayment
Part prepayment charges – Up to 4.72% (including taxes) on the principal amount prepaid (not applicable for Flexi Term and Flexi Hybrid loans)
Stamp duty and other statutory fees
Payable as per state laws and deducted upfront from loan amount.
Cheque bounce charges
Rs. 700 to Rs. 1,200 per bounce (charged if EMI/payment fails due to dishonour or any other issue)

How can I apply for a personal loan online?

  • Apply online easily – Click on ‘Apply’, verify your mobile number using OTP, and enter basic personal and loan details
  • Choose loan offer – Select your required loan amount and preferred loan variant after clicking ‘Proceed’
  • Set repayment plan – Choose a flexible tenure between 12 to 108 months as per your convenience
  • Complete verification – Finish KYC process and submit your application for approval
  • Next steps support – A representative will assist you further after submission
Frequently Asked Questions

What is a personal loan and what can it be used for?

A personal loan is an unsecured loan that does not require any collateral. It can be used for multiple personal needs like medical emergencies, education, weddings, travel, home renovation, or debt consolidation. Loan amounts usually range from Rs. 40,000 to Rs. 55 lakh.

Who is eligible for a personal loan?

Indian residents aged between 21 and 80 years can apply. Applicants should be salaried or self-employed, working in a public, private, or MNC company, and must have a CIBIL score of 650 or above. Approval also depends on income, job stability, and financial profile.

Do I need collateral or a guarantor?

No, personal loans are completely unsecured, so you do not need to provide any collateral, security, or guarantor.

What documents are required?

You need basic KYC documents such as identity proof (Aadhaar, PAN, Passport, etc.), address proof (utility bill, gas bill, etc.), income proof (salary slips or bank statements), and a recent photograph. In some cases, additional documents like employee ID or pension order may be required.

How can you apply for a personal loan online?

You can apply online by checking eligibility, entering personal and income details, verifying your mobile number with OTP, uploading KYC documents, and submitting the application. After approval, the loan amount is usually credited within 24 hours.

How does a personal loan work?

Once approved, you receive a lump sum amount in your bank account. You repay it in fixed monthly EMIs over a chosen tenure until the loan is fully cleared.

What are the loan amount, interest rate, and charges?

You can borrow from Rs. 40,000 to Rs. 55 lakh. Interest rates usually start from 10% per year, and repayment tenure ranges from 12 to 108 months. A processing fee of up to 3.93% may apply, and there are no hidden charges.

What affects loan approval and interest rate?

Your approval and interest rate depend on your CIBIL score, income, job profile, loan amount, repayment tenure, and existing financial obligations.

Why can a loan application be rejected?

Common reasons include low credit score, high debt, incomplete documents, unstable employment, or multiple recent loan applications.

How long does approval take?

Loan approval is usually fast after KYC verification, and funds are typically disbursed within 24 hours.

What is a Flexi Personal Loan?

A Flexi Personal Loan allows you to withdraw funds as needed and pay interest only on the amount used. You can also reuse the approved limit during the loan period.

Can I prepay or close my loan early?

Yes, you can prepay or foreclose your loan before the tenure ends, but prepayment charges may apply depending on the loan type.

Does a personal loan offer tax benefits?

No, personal loans generally do not provide any tax benefits on repayment of principal or interest.