Bajaj Finserv Personal Loan: Get Up to ₹55 Lakh at 10% p.a. in 24 Hours, The Fastest Personal Loan

Why Bajaj Finserv Personal Loan is India’s top choice! Get up to ₹55 lakh at 10% p.a., instant approval, and funds in 24 hours. Compare with HDFC, SBI, and more. Apply now for flexible, no-collateral loans tailored to your needs!
A personal loan can be a lifeline, offering quick access to funds without the hassle of pledging collateral. Among the leading players in India’s financial sector, Bajaj Finserv Personal Loan stands out as a reliable and flexible solution for salaried and self-employed individuals alike. This blog dives deep into why Bajaj Finserv is a go-to choice for personal loans, exploring its features, eligibility criteria, application process, and more, using the latest data from Bajaj Finserv’s official website. Let’s uncover how this loan can empower you to achieve your financial goals with ease.
Why Choose Bajaj Finserv Personal Loan?
Bajaj Finserv, a leading non-banking financial company (NBFC) in India, offers personal loans that are tailored to meet diverse financial needs. With loan amounts up to ₹55 lakh, competitive interest rates starting at 10% p.a., and flexible repayment tenures of up to 96 months, it’s no wonder that over 50 million customers trust Bajaj Finserv for their financial requirements. Whether you’re planning a wedding, funding higher education, or consolidating debt, Bajaj Finserv’s personal loan is designed to provide quick, hassle-free, and transparent financial solutions.
Key Features of Bajaj Finserv Personal Loan
- High Loan Amount: Borrow anywhere from ₹20,000 to ₹55 lakh, making it ideal for both small and large expenses. Whether it’s a medical emergency or a home renovation project, Bajaj Finserv has you covered.
- Instant Approval and Quick Disbursal: With an online application process, you can get approval within 5 minutes and funds credited to your account within 24 hours or even on the same day in some cases. This makes it perfect for urgent financial needs.
- No Collateral Required: Bajaj Finserv personal loans are unsecured, meaning you don’t need to pledge assets like gold, property, or shares. This reduces risk and simplifies the borrowing process.
- Flexible Repayment Options: Choose a tenure ranging from 12 to 96 months to suit your financial comfort. The Personal Loan EMI Calculator helps you plan repayments by estimating monthly installments based on loan amount, tenure, and interest rate.
- Three Unique Loan Variants: Bajaj Finserv offers Term Loan, Flexi Term Loan, and Flexi Hybrid Term Loan, allowing you to pick the option that aligns with your repayment capacity and financial goals.
- No Hidden Charges: Transparency is a hallmark of Bajaj Finserv. All fees and charges are clearly listed on the website and loan documents, ensuring you face no surprises.
- Pre-Approved Offers for Existing Customers: If you’re an existing Bajaj Finserv customer, you can check pre-approved loan offers with just your mobile number and OTP, streamlining the process further.
- Insta Personal Loan: For select customers, Bajaj Finserv offers Insta Personal Loans with disbursal in as little as 30 minutes to 4 hours and minimal documentation, up to ₹10 lakh.
5. Bajaj Finserv

- Interest Rate: 10.00% p.a. onwards
- Loan Amount: Up to ₹55 lakh
- Tenure: Up to 96 months
- Why Choose: Bajaj Finserv’s flexi personal loans allow borrowers to withdraw funds multiple times within a sanctioned limit, making it ideal for dynamic financial needs.
Eligibility Criteria for Bajaj Finserv Personal Loan
To qualify for a Bajaj Finserv Personal Loan, you need to meet five simple eligibility criteria, making it accessible to a wide range of applicants. Here’s what you need:
- Nationality: Indian citizen.
- Age: Between 21 and 80 years (at the time of loan maturity).
- Employment: Salaried individuals employed with a public, private, or multinational company (MNC).
- CIBIL Score: A minimum score of 685 or higher. A strong credit score improves approval chances and secures better interest rates.
- Monthly Income: Minimum salary of ₹25,001, depending on your city of residence.
For self-employed individuals, such as doctors or chartered accountants, Bajaj Finserv offers specialized personal loans tailored to professional needs, like clinic renovations or business expansion.
Documents Required
The documentation process is straightforward, requiring minimal paperwork to ensure a hassle-free experience. Here’s what you need to submit:
- KYC Documents: Aadhaar card, passport, voter’s ID, driving license, or Letter of National Population Register.
- PAN Card.
- Employee ID Card (for salaried individuals).
- Salary Slips: Last 3 months’ salary slips.
- Bank Statements: Previous 3 months’ bank account statements.
For Insta Personal Loans, existing customers may not need to submit income proof or additional documents, making the process even faster.
How to Apply for a Bajaj Finserv Personal Loan
Applying for a Bajaj Finserv Personal Loan is simple, thanks to its end-to-end online process. Follow these steps to get started:
- Visit the Official Website: Go to Bajaj Finserv’s Personal Loan page and click on ‘APPLY’.
- Enter Basic Details: Provide your 10-digit mobile number and verify with the OTP sent to your phone.
- Fill the Application Form: Enter details like your full name, PAN, date of birth, and PIN code.
- Select Loan Variant and Amount: Choose from Term, Flexi Term, or Flexi Hybrid Term Loan, and specify the loan amount (up to ₹55 lakh).
- Choose Repayment Tenure: Select a tenure between 12 and 96 months.
- Complete KYC and Submit: Upload the required documents and submit your application.
- Verification and Disbursal: A Bajaj Finserv representative will guide you through the next steps. Upon verification, funds are credited within 24 hours.
Alternatively, you can use the Bajaj Finserv App, available on Google Play Store and App Store, to apply for a loan, manage repayments, or check pre-approved offers. The app’s user-friendly interface and robust security make it a convenient tool for financial management.
Understanding the Loan Variants
Bajaj Finserv offers three distinct personal loan variants to cater to different financial needs:
- Term Loan:
- The entire loan amount is disbursed upfront.
- Fixed EMIs include both principal and interest.
- Ideal for those who prefer predictable repayments.
- Flexi Term Loan:
- Withdraw funds from a pre-approved limit as needed.
- Pay interest only on the withdrawn amount.
- Prepay or withdraw without extra charges, offering flexibility for unpredictable expenses.
- Flexi Hybrid Term Loan:
- Pay interest-only EMIs for the initial period (up to 24 months), followed by EMIs covering both principal and interest.
- Similar to Flexi Term Loan, you can withdraw and prepay multiple times without additional costs.
Interest Rates and Fees
Bajaj Finserv offers competitive interest rates starting at 10% p.a. for personal loans, though the exact rate depends on factors like your credit score, income, debt-to-income ratio, and employment stability. The processing fee is up to 3.93% of the loan amount (including taxes). For example, a ₹1 lakh loan with a 15% p.a. interest rate for 12 months incurs ₹8,310 in interest and a ₹3,930 processing fee, totaling approximately ₹1,12,340 in repayment.
There are no hidden charges, and part-prepayment or foreclosure is free for Flexi Term and Flexi Hybrid loans. For Term Loans, foreclosure may incur a nominal fee. Always review the Key Fact Statement (KFS) for a detailed breakdown of charges before applying.
Uses of Bajaj Finserv Personal Loan
The absence of end-use restrictions makes Bajaj Finserv Personal Loans versatile. Here are some common purposes:
- Medical Emergencies: Cover hospital bills, diagnostics, or treatments with quick disbursal to focus on recovery.
- Wedding Expenses: Fund venue bookings, catering, or jewelry without financial strain.
- Higher Education: Pay for tuition, accommodation, or travel expenses for domestic or international studies.
- Home Renovation: Redo your kitchen, fix a leaky roof, or furnish your home.
- Debt Consolidation: Combine multiple debts into a single loan with lower interest rates for easier management.
- Travel: Book flights, hotels, or adventure trips with instant funds.
Why Bajaj Finserv Stands Out
Bajaj Finserv’s personal loan offerings are backed by a robust digital infrastructure, ensuring a seamless borrowing experience. Here’s why it’s a preferred choice:
- Trusted by Millions: With over 50 million customers, Bajaj Finserv is a household name in India’s financial sector.
- Digital Convenience: The Bajaj Finserv App and customer portal (My Account) allow you to manage loans, check statements, or update details with ease.
- Transparency: All fees, charges, and terms are clearly disclosed, building trust.
- Customer Support: Reach out via the toll-free number +91 8698010101 for existing customers or +91 7757000000 for new loan inquiries. The app also offers chat support and a document center for a smooth experience.
Bajaj Finserv Personal Loan vs. Peers
Below is a detailed comparison of Bajaj Finserv Personal Loan with peers like HDFC Bank, SBI, IIFL Finance, and Muthoot Finance based on key parameters such as loan amount, interest rates, repayment tenure, processing fees, disbursal time, and eligibility criteria. Data is sourced from Bajaj Finserv’s official website and web sources for competitors (as of July 2025).
Parameter | Bajaj Finserv | HDFC Bank | SBI | IIFL Finance | Muthoot Finance |
Loan Amount | ₹20,000 – ₹55 lakh | ₹20,000 – ₹20 lakh | ₹5,000 – ₹25 lakh | ₹1,500 – ₹50 lakh (gold-backed) | |
Interest Rate (p.a.) | 10% – 31% | 10.5% – 24% | 10.9% – 15.3% | 12% – 36% | 11.9% – 22% (gold-backed) |
Repayment Tenure | 6 – 96 months | 12 – 60 months | 6 – 72 months | 3 – 60 months | 7 days – 36 months |
Processing Fees | Up to 3.93% of loan amount | Up to 2.5% (min ₹999) | Up to 1.5% (min ₹1,000, max ₹15,000) | Up to 3% | Up to 2% |
Disbursal Time | Within 24 hours (Insta Loan: 30 mins – 4 hours) | 10 seconds – 4 hours (pre-approved) | 2 – 7 days | 30 mins – 48 hours | Within 30 minutes |
Eligibility Criteria | Age: 21-80 years, CIBIL: 685+, Salary: ₹25,001+ (city-dependent) | Age: 21-60 years, CIBIL: 750+, Salary: ₹25,000+ | Age: 21-58 years, CIBIL: 750+, Salary: ₹15,000+ | Age: 21-60 years, CIBIL: 650+, Income: ₹10,000+ | Age: 18+ years, gold collateral required |
Collateral Required | No (unsecured) | No (unsecured) | No (unsecured) | No (unsecured) | Yes (gold-backed) |
Prepayment/Foreclosure | Flexi: No charges; Term: 4% after 1 month | 2%-4% after 12 months | 3% after 6 months | 2%-5% after 3 months | No charges |
Customer Rating | 4.4/5 (Trustpilot, Google Play Store) | 4.5/5 (MyLoanCare) | 4.2/5 | 4.0/5 | 4.3/5 |
Unique Features | Flexi Term/Hybrid Loans, Insta Personal Loan, no hidden charges | Pre-approved offers, paperless process | Low processing fees, special schemes for govt employees | Quick disbursal, online process | Gold-backed loans, high loan-to-value ratio |
Pros:
- High Loan Amount: Up to ₹55 lakh, ideal for large expenses.
- Quick Disbursal: Funds credited within 24 hours; Insta Loan in 30 mins–4 hours.
- No Collateral: Unsecured loan, no assets required.
- Flexible Tenure: Repayment options from 6 to 96 months.
- Loan Variants: Term, Flexi Term, and Flexi Hybrid loans for tailored needs.
- Minimal Documentation: Basic KYC and income proof; pre-approved offers skip paperwork.
- Transparency: No hidden charges, clear fee structure.
- Digital Process: Fully online application via app or website.
Cons:
- High Interest Rates: 10%–31% p.a., higher for low credit scores.
- CIBIL Requirement: Minimum 685 score, restrictive for some.
- Processing Fees: Up to 3.93% of loan amount.
- City-Based Eligibility: Salary requirement (₹25,001+) varies by city.
- Prepayment Charges: Term loans incur 4% foreclosure fee after 1 month.
- App Glitches: Some users report occasional app performance issues.
- No Tax Benefits: Personal loans don’t offer tax deductions.
- Aggressive Recovery: Customer reviews mention strict recovery practices.
Tips to Improve Your Loan Eligibility
To boost your chances of approval and secure better terms, consider these steps:
- Maintain a High CIBIL Score: A score of 685 or higher is ideal. Regularly check your credit report for errors and clear outstanding debts.
- Stabilize Income: A consistent job history with a public, private, or MNC employer enhances credibility.
- Reduce Debt-to-Income Ratio: Keep your DTI below 40% to show repayment capacity.
- Check Pre-Approved Offers: Use your mobile number and OTP to check for pre-approved loans, which often come with faster processing and better rates.
How to Repay Your Loan
Bajaj Finserv makes loan repayment convenient through multiple channels:
- Online Payments: Use the Bajaj Finserv App or My Account portal to pay EMIs via UPI, debit/credit cards, net banking, or wallets.
- BBPS Platform: The Bharat Bill Payment System (BBPS) ensures secure and quick repayments.
- Auto-Debit: Set up a NACH mandate for automatic EMI deductions from your bank account.
You can also part-prepay or foreclose Flexi loans without extra charges, offering flexibility to manage your finances.
Customer Reviews and Trust Factor
The Bajaj Finserv App has garnered positive feedback for its user-friendly interface and seamless loan process. Customers praise the competitive interest rates, quick disbursal, and responsive support. However, some users have reported occasional app glitches, which Bajaj Finserv addresses through regular updates. With a 4.5+ rating on Google Play Store and App Store, the app remains a trusted tool for financial management.
Your Path to Financial Flexibility
The Bajaj Finserv Personal Loan is more than just a financial product—it’s a gateway to achieving your dreams without compromising your financial stability. With loan amounts up to ₹55 lakh, interest rates starting at 10% p.a., and a fully digital application process, it’s designed for convenience, speed, and transparency. Whether you’re funding a wedding, education, or an emergency, Bajaj Finserv offers tailored solutions with flexible repayment options and no hidden charges.
Ready to take the next step? Visit Bajaj Finserv’s Personal Loan page or download the Bajaj Finserv App to check your eligibility and apply today. With funds in your account within 24 hours, you can tackle any financial challenge with confidence. Don’t let unexpected expenses hold you back—unlock your financial freedom with Bajaj Finserv!