5 benefits of getting a personal loan from an NBFC

Business5 benefits of getting a personal loan from an NBFC


Explore the key advantages of a personal loan from an NBFC, gaining insight into how they offer flexibility in repayment and convenience to cater to a range of requirements.

We often compromise on our big goals and aspirations due to the constant increase in our daily expenses. For example, you might enrol for further education or redesign your home’s décor. However, you sometimes have to put these goals on hold due to budget limitations. In such situations, a personal loan could prove to be quite helpful. Several NBFCs in India offer low-interest personal loans with simple eligibility requirements.

Bajaj Finance Limited is one such NBFC that offers personal loans with quick approval and simple eligibility criteria.

Here are five noteworthy benefits of taking out a personal loan from Bajaj Finance Limited:

Large loan amount

One of the primary advantages of opting for a Bajaj Finance Personal Loan is gaining access to substantial funds. Personal loan offer borrowers the opportunity to secure a significant amount of financing, dependent on the lender’s terms and the borrower’s creditworthiness. This financing option is especially attractive for those individuals seeking a substantial sum for personal purposes. Bajaj Finance Limited extends personal loans of up to Rs. 40 lakh, providing the means to address various significant expenses.

No collateral required

In contrast to secured loans, personal loans do not demand any collateral, making them more accessible to individuals who are hesitant to pledge their assets. Moreover, the absence of collateral eliminates the need for asset verification or evaluation, ensuring a swift verification process for personal loans.

Hassle-free documentation

Another notable benefit of personal loans is the simplified documentation process. Personal loans minimise the hassle of extensive paperwork, as all required supporting documents for loan applications can be submitted digitally. Documents related to age, address, income tax returns, credit history, and other essential details are necessary during the application process.

Swift disbursement process

Personal loans from Bajaj Finance Limited are renowned for their prompt processing and approval, making them a preferred choice for those in need of urgent financial assistance. Bajaj Finance Personal Loans are disbursed within 24 hours* of approval, offering a rapid solution for meeting unexpected financial obligations without imposing strain on your financial resources.

Flexible tenures

Personal loans typically come with flexible repayment terms, allowing borrowers to manage their debt more comfortably. Bajaj Finance Personal Loans are an appealing choice due to their flexible repayment choices. Borrowers can choose a tenure that ranges from 6 to 96 months, providing an ideal choice for individuals seeking freedom and flexibility in their repayment plans.

A Bajaj Finance Personal Loan stands as a reliable and secure means of meeting your financial obligations. You can also use the personal loan EMI calculator on the Bajaj Finserv website and know your instalment by entering basic details such as the loan amount, tenure, and interest rate to calculate. Visit the Bajaj Finserv website to apply for a personal loan.

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