bajaj-finserv-personal-loan

a. Age – For Salaried - 23-58 years

For Self-employed – 25-65 years

b. Credit score: 650 or above

c. Employment Type: Salaried

Self-employed

d. Minimum net income (monthly):

• Rs 35,000 for residents of Mumbai, Delhi, Bangalore, Pune, Hyderabad, Chennai, Coimbatore,
  Ghaziabad, Thane, Noida
• Rs 30,000 for Kolkata & Ahmedabad residents
• Rs 28,000 for people residing in Jaipur, Surat, Cochin, Nagpur, Chandigarh
• Rs 25000 for Goa, Lucknow, Indore, Vizag, Aurangabad, Nasik, Bhopal, Jamnagar, Madurai,
  Mysore, Trichy, Kolhapur, Jodhpur, Rajkot, Calicut, Vijayawada, Vapi, Trivandrum &
  Raipur

e. Work experience: For salaried- 3 years of job stability

For self-employed- 3 years of business stability

All the applicants are required to submit the below-listed documents with Bajaj Finserv

• Any valid digital ID proof for KYC
• 3 months’ bank statement
• Net Banking or Debit Card details to set up e-Mandate
• eSign/eStamp for faster disbursal

Self-employed candidates are required to submit the documents listed below along with the ones mentioned above –

• Proof of business establishment
• Address proof of Business
• Income Tax Returns
• Proof of Business continuity of the past 3 years
• Copy of bank statement of the past 90 days
• Proof of earnings of the last 6 months

Salaried applicants are required to upload a copy of the following documents besides along with the ones mentioned above -

• Last 3 months of bank statement showing your income or salary details
• Copy of salary slip of past 90 days
• Previous 2 years Form 16
• Employer’s ID
• Proof of work experience

Identity Proof (for all borrowers)

● Driving License

● Aadhar Card

● Valid Passport

● PAN Card

● Voter ID

Proof of Residential Address (for all borrowers)

● Utility Bill

● Approved Building Plan

● Valid Passport

● Voter ID

● Registered Rent Agreement

Birth Date Proof (for all borrowers)

 ● Driving License

● Valid Passport

● Voter ID

● Aadhar Card

Income documents (for salaried borrowers)

● Last 3 months Pay Slip.

● Form 16 of the past 2 years

● Bank statement of past 6 months showcasing EMI debit/ salary credit

The loan verification proceeds in the following stages:

1. Fill the Bajaj Finserv personal loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on apnapaisa.com.

2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).

3. The concerned officials at Bajaj Finserv verify the documents and the details there. They may visit the property if necessary.

4. Once your application for a personal loan is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

Bajaj Finserv provides affordable and convenient personal loans with EMIs as low as 2,749 a lakh for a 60-month term and a rate of interest as low as 11 to 18.99%.

The interest rate is fixed and charged on a monthly reducing basis. It is calculated on the amount overdue, i.e., the amount to be repaid after the EMI and interest are paid.

Other Charges for Bajaj Finserv Personal Loan

Types of Fees

Charges Applicable

Rate of Interest

11 to 18.99%

Processing Fees

0.5% of loan amount

Bounce Charges

Rs. 600 - Rs. 1200 per bounce

Penal Interest

2% - 4% per month

Document/Statement Charges

Rs. 50

Both fees/charges must be charged in full, except for any relevant goods and services tax
(GST). The debt must be prepaid, foreclosed, or partially paid from the customer's
assets. Bajaj Finserv will include the Facilities accounting code, which will be binding
on the customer. If the customer is a Bajaj Finserv-related individual, the customer is
responsible for paying any relevant GST. The above-mentioned Schedule of Charges is
subject to modification by the Bank from time to time and will be revised on the Bank's
official website.