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https://www.bajajfinserv.in/personal-loan-for-salaried-individuals?utm_source=SALPL_ada_pr&utm_medium=Affiliate&utm_campaign...
Submission: On August 19 via manual from IN — Scanned from DE
Submission: On August 19 via manual from IN — Scanned from DE
Form analysis 1 forms found in the DOM
<form class="form-widget-salpl" data-layer="FormWidgetSALPL">
<div class="form-widget-salpl__base-right"></div>
<div class="form-widget-salpl__top">
<div class="form-widget-salpl__top__amount"><label for="amount" class="form-widget-salpl__top__amount__label">Enter your amountEnter your amount</label><input type="tel" id="amount" name="amount" class="form-widget-salpl__top__amount__input"
value="1,00,000" data-di-id="#amount"><span class="form-widget-salpl__top__amount__prefix">Rs.</span></div><span class="form-widget-salpl__top__amount__hint">Enter an amount between Rs. 1 lakh and Rs. 40 lakh.</span>
<p class="form-widget-salpl__top__amount__disclaimer">*This amount is indicative. The final loan amount will vary based on your eligibility and submitted documents. </p>
</div>
<div class="form-widget-salpl__bottom"><button type="submit" class="btn btn--primary btn-form-widget-submit" data-di-id="di-id-e0c900e0-1c1ef11f">APPLY NOW</button></div>
</form>Text Content
1. Home
2. Personal Loan for Salaried Individuals
PERSONAL LOAN FOR SALARIED INDIVIDUALS
Plan your expenses with a personal loan of up to Rs. 40 lakh and manage your
unexpected expenses with ease.
Enter your amountEnter your amountRs.
Enter an amount between Rs. 1 lakh and Rs. 40 lakh.
*This amount is indicative. The final loan amount will vary based on your
eligibility and submitted documents.
APPLY NOW
By proceeding, you agree to our Terms and Conditions
6 REASONS TO CHOOSE OUR PERSONAL LOAN
3 UNIQUE VARIANTS
LOAN OF UP TO RS. 40 LAKH
TENURE OF UP TO 96 MONTHS
NO GUARANTOR/ COLLATERAL
NO HIDDEN CHARGES
OFFERS FOR NEW CUSTOMERS
Previous
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3 UNIQUE VARIANTS OF OUR PERSONAL LOAN
* FLEXI TERM LOAN
Imagine you take a loan of Rs. 2 lakh for a tenure of 24 months. For the
first six months, you pay the regular equated monthly instalment (EMI). By
now, you would have repaid about Rs. 50,000.
Suddenly, you have an unforeseen need for Rs. 50,000. All you need to do is
to go to My Account (our customer portal) and withdraw Rs. 50,000 from your
Flexi Term Loan account. Three months later, you just got your bonus of Rs.
1,00,000 and would like to pay back a part of your Flexi Term Loan. This time
again, all you need to do is go to My Account and pay back a part of your
Flexi Term Loan.
During all this while, your interest is automatically adjusted, and you are
paying interest only on the outstanding amount at any point of time. Your EMI
consists of both principal and adjusted interest.
Unlike in the case of other personal loans, there is absolutely no fee/
penalty/ charges for paying back or withdrawing from your Flexi Term Loan
account.
This variant is ideal for today’s lifestyle, wherein managing expenses can
get unpredictable.
* FLEXI HYBRID LOAN
This is another variant of our personal loan that works exactly like Flexi
Term Loan. The only difference is that, for the initial period of the loan
that could vary depending on the tenure of the loan, your EMI will only
consist of the applicable interest. For the remaining period, the EMI will
consist of the interest and principal components.
* TERM LOAN
This is like any other regular personal loan. You borrow a certain amount of
money, which is divided into equated monthly instalments that consist of both
principal and the applicable interest.
There is a fee applicable for repaying your term loan before the completion
of your loan tenure.
Show More Show Less
FEATURES AND BENEFITS OF OUR PERSONAL LOAN
01:00
ALL YOU NEED TO KNOW ABOUT OUR PERSONAL LOAN
Watch this video to know everything about the features of our personal loan.
* 3 UNIQUE VARIANTS
Pick the loan variant that suits you best: Term loan, Flexi Term Loan, and
Flexi Hybrid Loan.
* NO PART-PREPAYMENT CHARGE ON FLEXI TERM LOAN
Repay a part of your loan in advance, at no extra cost. You can part-pay as
many times as you want.
* LOAN OF UP TO RS. 40 LAKH
Manage your small or big expenses with loans ranging from Rs. 1 lakh to Rs.
40 lakh.
* CONVENIENT TENURES
Manage your loan easily with repayment options ranging from 6 months to 96
months.
* APPROVAL IN JUST 5 MINUTES
Complete your entire application online from the comfort of your home or
wherever you are.
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.
*Terms and conditions apply.
Show More Show Less
EMI CALCULATOR
Plan your instalments better.
CALCULATE YOUR PERSONAL LOAN EMIS
Instantly estimate the monthly instalments on your loan.
Loan Amount (in rupees)
* 40 L
* 32 L
* 24 L
* 16 L
* 8 L
* 1 L
Please enter values between 1 L to 40 L
Interest Rate (%)
* 35
* 29
* 23
* 17
* 11
Please enter values between 11 to 35
Tenure (in months)
* 96
* 78
* 60
* 42
* 24
* 6
Please enter values between 6 to 96
CALCULATE YOUR PERSONAL LOAN EMIS
Instantly estimate the monthly instalments on your loan.
Your EMI is₹ 8,838
--------------------------------------------------------------------------------
Total Interest₹ 6,058
Total Amount Payable ₹ 1,06,058
View Repayment Schedule
Apply Now
ELIGIBILITY CRITERIA AND DOCUMENTS REQUIRED
Anyone can apply for our personal loan, as long as you meet five basic criteria
mentioned below. If you meet all the eligibility criteria, you will need a set
of documents to complete your application process.
ELIGIBILITY CRITERIA
* Nationality: Indian
* Age: 21 years to 80 years*.
* Employed with: Public, private, or MNC.
* CIBIL score: 685 or higher.
* Monthly salary: Starting Rs. 25,001, based on the city you live in.
DOCUMENTS REQUIRED
* KYC documents: Aadhaar/ PAN card/ passport/ voter’s ID
* Employee ID card
* Salary slips of the last 3 months
* Bank account statements of the previous 3 months
*You should be 67 years or younger, at the end of the loan tenure.
CHECK YOUR PERSONAL LOAN ELIGIBILITY
Find out how much loan amount you can get.
PERSONAL LOAN ELIGIBILITY CALCULATOR
Estimate the loan you can get, basis our eligibility criteria.Done
PERSONAL LOAN ELIGIBILITY CALCULATOR
Estimate the loan you can get, basis our eligibility criteria.Done
Monthly income
Rs.
* 10 L
* 0
Please enter values between 0 to 10 L
Monthly expenses
Rs.
* 10 L
* 0
Please enter values between 0 to 10 L
Please use the sliders to set values in each field to calculate the loan amount
you are eligible for.
PERSONAL LOAN APPLICATION PROCESS
01:29
STEP-BY-STEP GUIDE TO APPLY FOR A PERSONAL LOAN
1. Click on ‘APPLY’ at the top of this page to open our online application
form.
2. Enter your 10-digit mobile number and verify the OTP sent to your phone.
3. Fill in the application form with your basic 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 loan amount that you need. Choose from our three personal loan
variants –Term, Flexi Term, and Flexi Hybrid.
6. Choose the repayment tenure – you can select tenure options of 6 months to
96 months and click on ‘PROCEED’.
7. Complete your KYC and submit your application.
Our representative will guide you on the next steps. The loan amount will be
transferred to your bank account on the successful verification of your
documents.
APPLICABLE FEES AND CHARGES
Type of fee
Applicable charges
Rate of interest
11% to 35% p.a.
Processing fees
Up to 3.93% of the loan amount (inclusive of applicable taxes).
Flexi Fee
Term Loan – Not applicable
Flexi variant - A fee will be deducted upfront from the loan amount (as
applicable below)
* Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
* Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
* Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
* Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
* Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
* Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
* Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
* Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
* Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above
*All the Flexi charges above are inclusive of applicable taxes
*Loan amount includes approved loan amount, insurance premium, and VAS charges.
Bounce charges
In case of default of repayment instrument, Rs. 700 - Rs. 1,200 per bounce will
be levied.
Pre-payment charges
Full Prepayment
* Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding
loan amount as on the date of full prepayment.
* Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes)
of the total withdrawable amount as per the repayment schedule as on the date
of full prepayment.
* Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total
withdrawable amount as per the repayment schedule as of the date of full
prepayment.
Part-prepayment
* Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal
amount of the loan prepaid on the date of such part-prepayment.
* Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.
Penal Interest
Any delay in payment of monthly instalment shall attract penal interest at the
rate of 3.50% per month on the monthly instalment outstanding, from the
respective due date until the date of receipt of the monthly instalment.
Stamp duty
Payable as per state laws and deducted upfront from loan amount.
Mandate registration charges Re. 1 (inclusive of applicable taxes) applicable in
case of UPI mandate registration.
Mandate rejection charges
Rs. 450 per month from the first month of the due date for the mandate rejected
by customer’s bank until the registration of new mandate.
Annual maintenance charges
Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes)
of the total withdrawable amount (as per the repayment schedule) on the date of
levy of such charges.
Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total
withdrawable amount during the initial tenure. Up to 0.295% (inclusive of
applicable taxes) of total withdrawable amount during subsequent tenure.
Broken Period Interest/ Pre-EMI Interest
Broken period interest/ Pre-EMI interest shall mean the amount of interest on
Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first
EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
* For Term Loan: Deducted from the loan disbursement
* For Flexi Term Loan: Added to the first instalment
* For Flexi Hybrid Loan: Added to the first instalment
Scenario 2 – Less than 30 days from the date of loan disbursal till the first
EMI is charged:
In this scenario, interest is charged only for the actual number of days since
the loan was disbursed.
Switch fee Up to 1.18% of the loan amount (inclusive of applicable taxes).
Switch fee is applicable only in case of switch of loan. In switch cases,
processing fees will not be applicable.
*Terms and conditions apply.
For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a
voluntary basis. Minimum interest, maximum interest and average interest are
13%, 35%, and 34.7% respectively.
Part pre-payment and Foreclosure charges are NIL.
FREQUENTLY ASKED QUESTIONS
What is the annualized rate of interest and repayment tenure of personal loan
offered by Bajaj Finance Limited?
The annualized rate of interest (% p.a.) is the cost that the borrower must pay
for money borrowed from the lender. The interest is payable on principal loan
amount basis the loan tenure opted. Bajaj Finance Limited offers personal loans
with an annualized interest rate ranging from 11% to 35% p.a. which can be
repaid over tenures between 6 months to 96 months.
For instance, Priya took a personal loan of Rs. 1,00,000 at an annualized
interest rate of 15% p.a. for a tenure of 12 months. In this scenario, Priya’s
annual interest payable will be around Rs. 8,310 and her monthly EMI shall be
around Rs. 9,026. Here, she will be repaying around Rs. 1,08,310 in total during
the loan tenure towards principal and interest component, apart from other
charges applicable, if any.
*Terms and conditions apply.
What is the annual percentage rate and repayment tenure of a Bajaj Finserv
Personal Loan?
The annual percentage rate is the cost that the borrower must pay for borrowing
money from the lender. It includes both the principal amount and other fees.
Bajaj Finance offers personal loans with annual percentage rates ranging from
11% to 35% that must be repaid over the tenures ranging from 6 months to 96
months.
For instance, Priya took a personal loan of Rs. 1 lakh at a rate of 15% per
annum for a tenure of 24 months. In such a case, she must pay an EMI amount of
Rs. 4849 and other applicable fees.
*Terms and conditions apply.
Why should you choose a Bajaj Finserv Personal Loan?
Bajaj Finserv offers personal loans that come with a host of features and
benefits, including:
* Flexi facility
* Instant approval
* Minimal documentation
* Money in bank in 24 hours*
* Flexible tenures
* No hidden charges
What is the minimum salary required to get a personal loan?
The minimum salary criteria for a personal loan from Bajaj Finserv depends on
your city of residence. For instance, your minimum monthly salary should be Rs.
40,000 if you reside in Pune, Bangalore, Mumbai, or Delhi.
What are the documents required for a personal loan?
New customers applying for a personal loan need to submit just their basic
identity and financial documents. These include:
* 2 passport-size photographs
* KYC documents – Aadhaar card, PAN card, voter ID, driving licence, passport
* Bank account statements for the past three months
* Salary slips for the past three months
How can you calculate your EMI?
You can use our personal loan EMI calculator to identify the monthly instalment
and tenure that suits you best. You only need to enter the amount you need to
borrow, the interest rate, and the tenure to get an estimate of the instalments
you are likely to bear.
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