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About Bajaj Finserv

The Bajaj group of Industries today is one of the leading business houses with an unparallel growth history. It was founded in the year 1926 by Shri Jamnalal Bajaj; who was a visionary tradesman – best known as an industrialist, a philanthropist, and a freedom fighter. In the year of 1926 he created history & founded what would become the Bajaj group of Industries.

Shri Kamalnayan Bajaj, eldest son of Shri. Jamnalal Bajaj took over the mantle from his father. Alumni of University of Cambridge he further laid the strong foundations for the growth of the company, he is revered as the Architect of the Bajaj Group.

The name of Bajaj inspires a tradition of trust as its growth story symbolises the economic growth & history of our nation It is recognised as one of the oldest and largest conglomerates: Based in Mumbai, the group comprises 37 companies and has involvement in various industries that include automobiles (2- and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance.

Baja Auto is the flagship company of the Bajaj Group & ranks as the world’s fourth largest two- and three-wheeler manufacturer. Other distinguished companies are Bajaj Finserv Ltd, Hercules Hoists Ltd, Bajaj Electrical, Mukand Ltd, Bajaj Hindustan Ltd and Bajaj Holding & Investment Ltd.

Bajaj Finserv is a part of Bajaj Holdings & Investments Limited: focused on lending, asset management, wealth management and Insurance.
Bajaj Finserv was formed in the year 2007, to expand & concentrate on the Groups interests in the field of financial services: Apart from financial services, Bajaj Finserv is also active in wind–energy generation

Recognised as the most popular NBFC (non financial banking company) it serves its customers for lending and wealth advisory services through Bajaj Finance Limited, for protection through Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance. The Company employs over 20,000 employees at 1400 locations, and is engaged in consumer finance businesses, life insurance, and general insurance
Bajaj Finserv was ranked among The Economic Times 500 as #119 in 2014

Personal loans from Bajaj Finserv

Bajaj is a well known Brand for consumer products; taking a cue from providing finance to its customer for consumer products & two wheelers sales. Bajaj Finserv entered the field of unsecure funding for Salaried & Self employed segment. For growing aspirations for a bigger lifestyle to buying your home, indulging in that much deserved family holiday to expanding your business or making that big acquisition, whatever be your plan, Bajaj Finserv provides the financial assistance whenever needed.

Entering at a time when the Markets were still recovering from world recession Bajaj Finserv started marketing of its Personal loan product facing a stiff competition from stalwarts; but it soon created a niche market for its self. This was done with the help of innovative marketing strategies & prompt customer services. Processing of personal loans was swift .Identifying the segment of target customers Bajaj Finserv was actively reaching out to its preferred customer segment.

Eligibility criteria for a Personal Loan from Bajaj Finserv

All Indian citizens meeting the following criterion are eligible to apply.


The applicant must be above the age of 25 years to be eligible for a Personal Loan from Bajaj Finserv, the maximum age limit is up to 58 years, an extension up to 60 years is allowed with a proof of retirement.

Vintage of Employment

A work experience of 3 years or more is mandatory; proof of vintage of employment is to be submitted with the application for personal loan.

Marital Status

The applicant should be married & living with her/his family. Bachelors are eligible to apply if their self owned or family residence is in a Bajaj Finserv location.

Net Income

The net income of an applicant should be above the minimum as required for the specific location as required by the Bajaj income policy. The salary should be credited to the Bank account via a direct transfer: Salary received in cash or cheque is not accepted.


A credit history with a CIBIL score of 780 basis points or more will ensure an approval for a Personal loan. The track of a Home loan with an on time payment record can mitigate the credit score requirement.

Features of Personal loan from Bajaj Finserv

A personal loan from Bajaj Finserv is an unsecure loan. A customer is not asked for any collateral or guarantees to be provided for the Loan issued .The Loan amount is given purely on the basis of the customer profile making it convenient & hassle free.

A Personal loan can be paid back easily through EMI (equated monthly installement) from 12 to 60 months. The Tenor of the Personal Loan is fixed as per the customer requirement & the policy criteria of Bajaj Finserv.

The Loan amount that can be sanctioned to a salaried applicant is per the income of the applicant & the current obligations which include the EMI being paid & Credit Card dues. A maximum of ₹ 25 lakhs can be forwarded as a Personal Loan while the minimum amount is ₹ 1 lakhs.

If the Loan amount required is more than the eligibility permits the following additional criteria can be considered;

  • Rental Income

Rent being deposited regularly in the Bank account of the applicant can be considered as part of the monthly income: 80% of the rent is added to the salary. Conditions to be met are; the banks statement showing rental income with the Rental agreement is to be submitted.

  • Co Applicant

A financial Co applicant can be taken to increase eligibility: conditions that need to be met are the Proof of employment is to be submitted & co applicant has to be a blood relative/spouse of the primary applicant.

Complete online process with of Personal loan applications, instant processing & quick Disbursal.

Reasons to Apply for a personal Loan

Increase in income & Growing aspirations of Salaried has given them the power to fulfil their dreams &, empowering them to live life on their own terms .A personal Loan from Bajaj Finserv can be applied for the following end usages’.

  • To meet expenditures for a Wedding or any other Family function.
  • For finance needed for the renovation or refurbishing of your home.
  • To pay for the education expenses of self or family.

  • Finance for use in Emergencies & medical expenses.

  • Personal Loan funds can be used to go on a family vacation.

Charges for a personal loan from Bajaj Finserv

Rate of Interest 12.99% onwards
Processing fees 2.25% – 3% of the loan amount
EMI bounce charges Rs. 1,200 per bounce
Penal interest 2.38 % default interest including taxes per month
Pre closure charges 4% of principal outstanding
Part Payment charges 2% + taxes on amount paid.

Personal loan Products

Fresh Personal Loan for Salaried

Applicants with a salary of 40k or more per month are eligible to apply for a personal loan from Bajaj Finserv as per the following criteria.

  • Salaried customers employed with Companies featuring in the list of approved companies.

  • Professional applicants- Doctors/Engineers/Chartered Accountants
  • Applicants who have a credit history for over a year whether it is a Personal Loan/Auto Loan/Home Loan or a Credit Card Usage are eligible to apply for Personal Loan.

  • Applicants with the successful track record of a Home Loan are preferred customers for personal loan.

  • Request for a Personal loan is processed with minimal documents & is a hassle free process.

Flexi Personal Loan

The Flexi Personal loan is a new & innovative concept for the Salaried Elite .Hitherto available to only the self employed as an overdraft facility /term loan, funds are now available to the salaried class in a flexi account to use & repay as per their convenience. Read More

Personal Loan Top Up

A personal Loan Top Up or increase in amount to an existing Personal loan is provided as per the following criteria;

  • The existing Personal loan should be of a vintage of 3 months or more.

  • The Applicant should be eligible for an additional amount as per the income criteria.

  • The credit history of the applicant should not have any defaults or late payments.

Balance Transfer of a Personal loan to Bajaj Finserv

  • Bajaj Finserv accepts applications of Candidates looking to transfer their existing personal loan from an external bank; the Balance transfer can be done for Flexi Loan or a standard Personal Loan.
  • The Rate of Interest applied will be as per the charges for a fresh loan.
  • The Personal Loan for Balance transfer should meet the pre-closure terms & conditions of the external Bank.

  • A Balance transfer with a Top up is approved if the Applicant is eligible for the additional amount as per the eligibility criteria of Bajaj Finserv.

Documents Required

Income Documents:

  • Salary Slip for the Last 3 months.

  • Bank Statement from Salary account for the last 3 months showing 3 salary credits

  • Form 16 for the last financial year.

  • Pan card copy / Age Proof /Signature Proof

KYC Documents:

  • Photo Identification proof: Passport/Driving Licence/Voter I.D./Aadhaar Card/Ration Card
  • Current Address Proof – Bank Statement, Utility Bill, Rent Agreement
  • Company I.D.