Personal loans are ideal for lending money to a friend or family member. They are an easy way of providing instant funds, with the only criteria being your relationship with the borrower.
The amount of personal loan you can extend is also flexible, and this form of loan is suitable for borrowers with poor credit score, who need funds for home improvement, vehicle purchase, personal emergencies, education expenses, etc. In this blog, we will tell you about the personal loan options available from Bajaj Finserv as well as eligibility criteria that one needs to satisfy before getting a loan from them.
Types of personal loan products offered by Bajaj Finserv
Bajaj Finserv offers personal loan products for customers across India. The personal loan products offered by Bajaj Finserv vary in terms of interest rates and duration.
– Personal loan products offered by Bajaj Finserv include personal loans, car loans, and home loans.
– The personal loan products offered by Bajaj Finserv are available at different interest rate categories, such as personal loan with interest rate of 12% – 18%, personal loan with interest rate of 18% – 24%, and personal loan with interest rate of 24% – 36%.
– Customers can choose from a variety of repayment options, including monthly, quarterly, or annual repayments.
– Customers can also avail of pre-approved personal loan products from Bajaj Finserv.
The personal loan products offered by Bajaj Finserv are available to customers across India. So if you are looking for a personal loan product that fits your needs and budget, you can consider the options offered by this bank.
Bajaj Finserv Personal Loan Options
Bajaj Finserv personal loan options offer a variety of loan products to choose from. The personal loan products offered by the bank are flexible and easy to use. The loan products available through Bajaj Finserv are backed by a strong credit score verification process. The loan options available include personal loan, home loan, term loan and personal loan refinance.
The personal loan is a type of loan that is used to finance various purposes, such as education, buying a house, starting a business etc. The loan amount depends on your eligibility and tenure of the loan. You can choose between personal loan interest rate and term of your loan.
The home loan is another popular product offered by the bank. It is used to finance your dream house or property purchase. Bajaj Finserv home loans come with attractive interest rates and repayment plans as per your eligibility and tenure.
Bajaj Finserv also offers personal loan refinance, which lets you convert an existing personal loan into another form of finance. The personal loans are flexible enough for customers to choose their desired repayment terms as per their convenience and requirements.
How to apply for a personal loan with Bajaj Finserv
Bajaj Finserv offers a wide range of personal loan options to choose from. The bank offers personal loan tenure of 1-5 years with interest rate options of 10% – 20%. So, you can choose the loan tenure and interest rate that suits your financial needs and budget.
Apply online and get approved within minutes. The process is simple and seamless. Once you’ve filled in the application form online, your name will be appearing on the customer list of bajaj finserv immediately. You’ll receive an approval letter via e-mail, which you can carry along with your application form.
You can get easy access to your loan funds without having to visit a branch. bajaj finserv allows applicants to make loan repayment through bank account or cheque directly from the bank account with an interest rate of 10% – 20%. Get hassle-free repayments with flexible repayment options available.
Bajaj finserv is a leading personal loan provider in India, offering personal loan tenure of 1-5 years with interest rate options of 10% – 20%. The bank has made it easy for customers to apply for personal loan online in an efficient manner and is always there to assist its customers in finding the best personal loan option to suit their needs and budget.
Eligibility criteria for personal loans with Bajaj Finserv
Bajaj Finserv bank offers personal loan options to its customers with eligibility criteria varying from person to person. In this regard, you must be a resident of India, have a valid bank account with a minimum balance of Rs 2000 and an active Bajaj Finserv account. Additionally, your annual income should not exceed Rs 25 lakhs. You must not have any outstanding credit card dues or overdraft limit on your bank account. Moreover, you must not have filed for bankruptcy in the past.
Additionally, your score on the bank’s loan application form should be above 680 (good). Besides this, you must not have any loan from other financial institutions. Here are some of the loan eligibility criteria shared by Bajaj Finserv Bank –
– Should be a full-time employee of an organization with an annual income of at least Rs 25 lakh.
– Should be 18 years of age or more and above.
– Good credit score is mandatory for personal loan amount up to Rs 10 lakh.
– Should not have any loan amount outstanding from another financial institution.
How do Bajaj Finserv Personal Loan Options work?
To apply for a personal loan through Bajaj Finserv Personal Loan Options, please visit one of the following channels:
– Online: You can apply online by visiting bajajfinserv.com and completing the loan application form.
– In-person: You can visit any of the Bajaj Finserv Personal Loan Options locations to apply for a personal loan.
– By bank: You can also apply for a personal loan through your bank.
– Credit score: You don’t need to have good credit score to apply for a personal loan through Bajaj Finserv Personal Loan Options. You can still get a loan if your credit score falls below the required standard. However, you may be required to take additional steps like obtaining collateral or having a personal guarantee loan in place.
– Loan amount: There are a variety of loan options to choose from, including short-term, long-term, and bridge loans. You can also choose between fixed interest rates and variable interest rates.
– Repayment terms: Bajaj Finserv Personal Loan Options offer flexible repayment terms, which range from interest-free repayment period to easy monthly installment schemes.
Bajaj Finserv Personal Loan Options: What are they?
Bajaj Finserv Personal Loan Options can be used for a variety of purposes. Here are some of the most common:
– Emergency funds: Bajaj Finserv Personal Loan Options can be used to tide you over until your next payday or for other emergency situations.
– Purchasing property: If you’re looking to purchase a home, personal loan options from Bajaj Finserv may help you get the loan you need without having to go through a bank loan application process.
– Making small business investments: Bajaj Finserv Personal Loan Options can also be helpful in funding startup businesses or new initiatives.
– The interest rates for Bajaj Finserv Personal Loan Options are typically lower than those offered by other lenders. This means that you may be able to borrow money more cheaply than with other options.
– To apply for a Bajaj Finserv Personal Loan Option, you must have a valid bank account and good credit. You will also need to provide verification of your identity and your income.
What are the different types of Bajaj Finserv Personal Loan Options?
There are two different types of personal loan options offered by Bajaj Finserv – online and in-person.
The online option is the simplest way to get a loan. After you complete the application process, you will be notified of your eligibility status and loan amount within minutes. You can then pay the loan off in full or in installments.
The in-person option is only available at select partner banks around the country. The loan amount you are eligible for depends on your credit score, income, tenure, and other financial factors. The repayment period for a Bajaj Finserv personal loan ranges from 3 to 12 months. You can also choose to pay your loan off in full or in installments.
It’s easy to understand the benefits of personal loans as they help you get access to funds at a time of need. However, it’s essential that you compare loan offers from multiple lenders before applying for one. This way, you can ensure you get the loan amount and interest rate that works best for you. To learn more about personal loan eligibility criteria, visit our blog here.
