Bajaj Finance Personal Loan Eligibility : Personal loan can serve many purposes and can come to your rescue when you have no other source of money. Bad situations can come at any time that require money – whether to cover wedding expenses, for your children, siblings or own higher education, to recover from job loss; home renovation; Medicare is also charged to pay off credit card bills.
A personal loan does not require any guarantee and there are no restrictions on how you spend the loan amount, making it a very easy source of quick funds. In times of need, a Bajaj Finance personal loan can be a good option, provided you know how to manage your finances and have a precise plan to repay your loan.
What you need to know about Bajaj Finance Personal Loan?
With Bajaj Finance, you can access a variety of personal loans online, including information on personal loan eligibility criteria, EMI calculation, documentation required and personal loan application assistance.
Eligibility Criteria for Bajaj Finance Personal Loan
You are eligible for a personal loan from Bajaj Finance if you
- Salaried person.
- Your monthly income is Rs 25,000 to 40,000 (Salary requirements vary from city to city)
You can also use the Bajaj Finserv Personal Loan Eligibility Calculator online tool to quickly check your eligibility. You can use the Personal Loan EMI Calculator to determine how much EMI you will need to pay for your personal loan, and plan your finances accordingly.
What is the Bajaj Finance Personal Loan interest rate?
- Loan Amount : Maximum 25 lakhs
- Interest Rate : Starting from 13%
- Repayment Period : 60 Months
- Processing Fee : 4% of the loan amount
- Prepayment charges: The company is offering three types of personal loans and the prepayment amount varies accordingly.
The interest rate varies with each customer based on his income, credit score and repayment history among many other factors. You will have to check with the company about the interest rate being offered to you.
How can I get the best possible interest rate?
Get your credit report and check your credit score. Generally, a credit score of 750 or above qualifies you for the most favorable terms and conditions, including a lower interest rate. You need to be aware and updated about your latest credit report. Take a look at your report and check for any discrepancies or errors. If you have a low credit score, improve it before applying for a personal loan to avoid the possibility of rejection or unattractive interest rates.
Now you can apply for Bajaj Finance Personal Loan. You can do this by logging into the Bajaj Finance website and uploading the required documents or by visiting the nearest Bajaj Finance branch and submitting the application along with the required documents.