Bajaj Finance Raises Its Personal Loan Limit From ₹55 Lakh to ₹75 Lakh — What a Loan That Size Really Costs, and Who Can Get It
Loans · NBFC · October 2026
Bajaj Finance Raises Its Personal Loan Limit From ₹55 Lakh to ₹75 Lakh — What a Loan That Size Really Costs, and Who Can Get It
Bajaj Finance now offers unsecured personal loans of up to ₹75 lakh, at 10% to 30.5% a year and for 12 to 108 months. The higher ceiling is an upper limit, not an entitlement, and at this size the rate you are offered matters more than anything else.
Violet: the old ₹55 lakh limit. Orange: the added ₹20 lakh.
A ₹75 lakh personal loan is a big number for an unsecured product. It is more than many home loans in smaller cities, and it requires no collateral at all. So when Bajaj Finance announced that its personal loan ceiling had risen from ₹55 lakh to ₹75 lakh, the obvious question is who this is for, and what a loan that size actually costs to repay.
The short answer: it is for high earners with strong credit, and it can be very expensive if the rate is anywhere near the top of Bajaj Finance’s 10% to 30.5% range. We ran the numbers so you can see the EMI, the total interest and the income it takes, and compared it with cheaper ways to raise large sums.
The New Limit in Numbers
The jump from ₹55 lakh to ₹75 lakh is a 36% increase in the ceiling. Bajaj Finance, an RBI-registered NBFC, says it serves more than 124 million customers. The release positions the loan for medical expenses, home improvement, education and family events, without asset pledges.
What people often get wrong is reading the headline limit as the amount they will be offered. A personal loan is sized to your repayment capacity, not to the lender’s ceiling. The release says as much: the maximum limit does not guarantee that every applicant will receive ₹75 lakh.
Why Offer ₹75 Lakh Without Collateral?
For a lender, a larger personal loan ceiling is a way to compete for high-income borrowers, such as senior professionals, doctors and established business owners, whose repayment capacity can justify big unsecured loans. These borrowers often have strong credit histories, and a single large loan can be more profitable to service than many small ones.
The move comes after a period of caution on unsecured credit. In November 2023, the RBI raised the risk weights that banks and NBFCs must hold against unsecured consumer loans, including personal loans, from 100% to 125%, making such lending more capital-intensive. A higher ceiling therefore signals that Bajaj Finance is comfortable lending larger sums to its best-rated customers, not that unsecured credit has become cheaper or easier for everyone.
For borrowers, the practical lesson is that the ceiling is aimed at a narrow group. Most applicants will be offered far less, and those near the top of the range on rate are unlikely to be offered the top of the range on amount.
Why the Rate Matters More Than the Limit
On a loan this size, a few percentage points change the cost by tens of lakhs. Bajaj Finance’s range runs from 10% to 30.5%, and the rate you get depends on your credit score, income and the loan amount. Here is what ₹75 lakh over nine years costs across that range, calculated on a reducing balance.
At the top of the range, total interest of ₹1.46 crore is almost twice the amount borrowed. Even at 14%, you would repay about ₹1.32 crore for ₹75 lakh. The advertised 10% is the floor of the range and typically goes to borrowers with the strongest profiles, so compare the rate actually offered to you, not the headline.
The Tenure Trade-Off
Stretching to 108 months lowers the EMI but sharply increases interest. The table shows the monthly EMI on ₹75 lakh for different tenures and rates.
| Rate | 3 years | 5 years | 7 years | 9 years |
|---|---|---|---|---|
| 10% | ₹2,42,004 | ₹1,59,353 | ₹1,24,509 | ₹1,05,590 |
| 14% | ₹2,56,332 | ₹1,74,512 | ₹1,40,550 | ₹1,22,503 |
| 18% | ₹2,71,143 | ₹1,90,451 | ₹1,57,634 | ₹1,40,677 |
| 24% | ₹2,94,246 | ₹2,15,760 | ₹1,85,069 | ₹1,70,031 |
Moving from five to nine years cuts the EMI by about ₹52,000 a month but adds about ₹27.6 lakh of interest. The release itself notes that longer tenures lower the EMI but can increase total interest. If you can afford the higher EMI, a shorter tenure is the single biggest saving available.
A middle path is to take the longer tenure for a comfortable EMI, then prepay whenever a bonus or windfall arrives. Check the prepayment terms first: on a term loan, closing the loan in full can carry a charge, while Flexi variants describe part-prepayment as free. Used with discipline, this approach keeps the monthly burden manageable without paying for the full nine years.
How Much Do You Need to Earn?
Lenders limit how much of your income can go towards EMIs, a measure known as FOIR. Assuming a 50% limit and no other loans, here is roughly what income supports a ₹75 lakh loan at 14% over nine years. This is our indicative calculation; Bajaj Finance has not published its criteria for the top limit.
On these assumptions, you would need a net monthly income of roughly ₹2.5 lakh, or about ₹30 lakh a year after tax, with no other EMIs, to support a ₹75 lakh loan at 14% over nine years. Existing home or car loan EMIs reduce that headroom one-for-one.
Term Loan or Flexi? Three Ways to Borrow
Bajaj Finance offers the personal loan in three structures. The choice affects how much you pay and how flexible repayment is.
| Variant | How it works | Tenure | Watch for |
|---|---|---|---|
| Term loan | Full amount disbursed once; fixed EMIs | 12 to 108 months | Full prepayment charges |
| Flexi Dropline | Withdraw from a limit; fixed EMIs on what you withdraw | 12 to 108 months | Flexi facility charge and annual maintenance |
| Flexi Hybrid | Interest-only EMIs at first, then principal plus interest | Up to 36 months initial, then up to 72 | Principal is not reduced in the initial period |
Fees, APR and Closing the Loan Early
The headline rate is not the full cost. Processing fees and charges are deducted or added, and the Key Fact Statement, which RBI has required for retail loans since October 2024, must show the annual percentage rate, or APR, including these costs.
Paying it off early
Bajaj Finance’s page lists full prepayment charges of up to 4.72%. Most personal loans are fixed-rate, so RBI’s rule barring prepayment charges on floating-rate individual loans from January 1, 2026 generally does not apply. Even so, closing early can still save a lot.
Take ₹75 lakh at 14% over nine years. After two years, about ₹65.37 lakh is outstanding. A 4.72% charge on that is about ₹3.09 lakh, making about ₹68.46 lakh to close. Continuing would cost about ₹37.53 lakh in further interest, so closing saves about ₹34.4 lakh, on our calculation, if you have the funds.
Cheaper Ways to Raise a Large Sum
A ₹75 lakh need is usually for something significant: a medical emergency, a home renovation, education abroad or a family event. Before taking an unsecured loan at 10% to 30.5%, check whether a cheaper route exists.
- Loan against property uses a house or flat as security and is typically priced below unsecured personal loans, with longer tenures.
- Home improvement or top-up loans from your home loan lender may be cheaper for renovation.
- Education loans are designed for studies, may offer moratoriums, and can carry a tax deduction on interest under the old regime.
- Loans against securities or fixed deposits let you borrow without selling investments, usually at lower rates.
- Health insurance, including a super top-up, is far cheaper than borrowing for medical bills after the fact.
Red Flags When You Borrow Big
Large loan limits attract fraudsters, who use well-known lender names in fake calls, messages and websites. A ₹75 lakh headline makes the bait more convincing. Keep these rules in mind whichever lender you choose.
- Apply only through the lender’s official website, app or branch, and check that any lending app appears in the RBI’s directory of digital lending apps.
- Never pay an upfront “processing”, “insurance” or “approval” fee to an individual or a personal bank account. Genuine fees are deducted from the disbursal or shown in the Key Fact Statement.
- Do not share OTPs, passwords or card details with anyone who calls claiming to speed up your loan.
- Read the KFS before signing and check whether insurance or other add-ons have been bundled into the loan amount.
- If you face a problem, complain to the lender first and escalate to the RBI Ombudsman if it is not resolved within 30 days.
Before You Apply: A Checklist
- Write down exactly what the money is for and whether a secured or purpose-specific loan could fund it more cheaply.
- Check your credit report and fix errors before applying, since the rate depends on your profile.
- Get offers from at least two other lenders and compare APRs and foreclosure terms.
- Read the Key Fact Statement before signing, including fees, APR, insurance add-ons and charges.
- Avoid applying to many lenders at once, which can lower your score through multiple enquiries.
- Plan prepayments from bonuses or windfalls to shorten the loan and cut interest.
How the Limit Grew
Frequently Asked Questions
What is the maximum personal loan from Bajaj Finance?
Bajaj Finance has raised its maximum personal loan to ₹75 lakh from ₹55 lakh, according to its October 30, 2026 release. The amount you get depends on income, credit profile, existing debts and the lender’s assessment.
What is the Bajaj Finance personal loan interest rate?
Bajaj Finance lists rates of 10% to 30.5% a year, depending on factors including credit score, income and loan amount. The 10% figure is the starting rate, not a guaranteed rate.
What is the EMI on a ₹75 lakh personal loan?
At 14% over nine years on a reducing balance, the EMI is about ₹1,22,503. At 10% it is about ₹1,05,590, and at 30.5% about ₹2,04,203, on our calculation, excluding fees.
What salary do I need for a ₹75 lakh personal loan?
Roughly ₹2.5 lakh a month net, with no other EMIs, if 50% of income can go to EMIs at 14% over nine years, on our indicative calculation. Lenders’ actual criteria vary and Bajaj Finance has not published its threshold.
What is the minimum CIBIL score for a Bajaj Finance personal loan?
Bajaj Finance’s product page lists a CIBIL score of 650 or higher. Higher scores generally improve your chances of a lower rate.
Can I prepay a Bajaj Finance personal loan?
Yes. The product page lists full prepayment charges of up to 4.72%, while part-prepayment is described as free on Flexi loans. Check your loan agreement and Key Fact Statement for the exact terms.
How long is the Bajaj Finance personal loan tenure?
Term loans and Flexi Dropline loans run from 12 to 108 months. Flexi Hybrid has an initial tenure of up to 36 months followed by up to 72 months.
Is a ₹75 lakh personal loan a good idea?
Only if you need the money, can comfortably afford the EMI and have no cheaper secured option. At these sizes, a difference of a few percentage points changes total interest by tens of lakhs, so compare APRs and alternatives first.
The Short Version
Bajaj Finance has raised its personal loan ceiling from ₹55 lakh to ₹75 lakh, at 10% to 30.5% a year for up to 108 months, without collateral. The limit is a maximum, not an offer: you would need roughly ₹2.5 lakh a month in net income and no other EMIs to support ₹75 lakh at 14% over nine years. That loan would cost about ₹57 lakh in interest, and nearly ₹1.46 crore at the top rate. Choose the shortest tenure you can afford, compare APRs in the Key Fact Statement, and check cheaper secured options first.
