Apply for a BAJAJ FINSERV Bank Personal Loan
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| BAJAJ FINSERV Personal Loan | ||
| Salaried | Self-employed Professionals/Non Professionals | |
| Interest rate | 11% p.a. onwards | 15%-25% p.a. |
| Loan Amount | Up to Rs 40 lakh | Up to Rs 50 lakh Up to Rs 55 lakh (for Doctors and CAs) |
| Tenure | Up to 8 years | Up to 8 years |
| Processing Fee | Up to 3.93% of loan amount | Up to 2.95% of loan amount |
| Minimum Monthly Salary | Rs 25,001 | |
Eligibility Criteria for Bajaj Finance Personal Loan
Bajaj Finance Personal Loan eligibility criteria is set on the basis of age, profession, monthly income, credit score and nationality of its personal loan applicants. Below-mentioned are the personal loan eligibility criteria set by Bajaj Finance.
For Salaried Applicants
- Age: 21-80 years
- Nationality: Indian
- Profession: MNC/Public/Private company
- CIBIL Score: 685 or higher
- Minimum Monthly Salary: Rs 25,001 onwards, based on the city the applicant lives in
For Self-Employed Applicants
- Age: 24-70 years
- Nationality: Indian
- Credit Score: 685 or higher
- Business vintage of at least 3 years
Document:
- Address Proof: Aadhaar Card / Rent Agreement / Voter ID Card Ration Card/Electricity Bill/ Passport, etc
- Identity Proof: Aadhaar Card / Voters ID / Passport / Driving License, etc
- Photo
- Pan Card
- Last 1 months Salary Slip
- Bank Statement for the last 3 months
Example:
Personal loan of 5 lakhs at an interest rate of 10.5% for tenure of 5 years, the EMI will be 10,747. The total pay out here would be:
- Principal Amount: 5,00,000
- Interest Charges (@10.5%): 1,44,817
- Loan Processing Fees (@2.5%): 12,500
- Documentation charges: 500
- Amortization Schedule charges: 200
- Total Amount paid after 5 Years: 6,58,017
- *Interest rate and processing fees varies as per your product depending on the lender's policy.