Managing unexpected expenses or planning important moments such as vacations or home improvements often requires quick access to funds. A personal loan is an effective and convenient financial solution that provides the money you need without requiring collateral. Bajaj Finance offers an easy application process with flexible loan amounts and competitive interest rates. Understanding how to use a personal loan responsibly can help you make the most of this financial solution without stress.
What is a personal loan?
A personal loan is money you borrow from a bank or financial company for any purpose. Unlike other loans, you don’t need to provide something valuable as security. You repay the loan in monthly instalments called EMIs over an agreed period. You can easily apply for a personal loan online through Bajaj Finance and get quick access to funds when you need them most.
Why choose Bajaj Finance for your personal loan?
- Fast and easy application: Apply online in just a few minutes with minimal documentation.
- High loan amount: Borrow from Rs. 40,000 up to Rs. 55 lakh, based on your eligibility.
- No collateral required: Get a personal loan without any collateral or guarantor, making the process simple and quick.
- Flexible repayment tenure: Repay comfortably over a period ranging from 12 months to 96 months.
- Competitive interest rates: Get competitive personal loan interest rates starting from 10% p.a.*
What is the personal loan interest rate?
The personal loan interest rate is the annual cost charged on the amount you borrow, expressed as a percentage. Bajaj Finance offers competitive personal loan interest rates starting from 10% p.a.*, based on factors like your credit profile, income, and loan amount.
Who can apply?
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 685 or higher.
- Customer profile: Self-employed or salaried
*You should be 80 years or younger, at the end of the loan tenure.
How to apply for a personal loan with Bajaj Finance
Applying for a Bajaj Finserv Personal Loan is easy and can be completed in a few steps:
- Visit the Bajaj Finserv website.
- Click on ‘APPLY’ at the top of the page.
- You will be asked to enter your phone number and an OTP to verify it.
- Fill in the application form with your basic loan details.
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need. Choose from our personal loan variants.
- Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- 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.
Handy tips when using a personal loan
- Maintain a good credit score by paying your EMIs and credit card bills on time.
- Keep your existing debts low to maintain a healthy debt-to-income ratio.
- Apply for a loan amount you can comfortably repay within your monthly budget.
- Borrow only what you truly need to avoid unnecessary financial burden.
- Plan your budget carefully to ensure timely EMI payments and financial stability.
Applying for a personal loan is easier than you think, especially with Bajaj Finance. With clear steps, affordable interest rates, and quick approval, you can get the funds you need without stress. Understand your personal loan interest rate and repayment options before you apply, and you’ll be on your way to achieving your goals.
Start your journey today by exploring Bajaj Finserv Personal Loan option and applying with confidence.
*Terms and conditions apply
