The requirement of money can arise anytime and in such circumstances one credit facility that you can avail in the shortest time possible is personal loan. It is a type of unsecured loan that is quickly disbursed without much difficulty. Since, it is an unsecured loan it is believed that the interest rate on this loan product will be high. Yes, it is true the rate on this credit is higher in comparison to other secured loan. But you can lower the repayment cost by comparing the lending rates of various banks and financial institutes.
The rate of interest decides how much interest you will be paying on the amount availed. Bajaj Finserv Personal Loan interest rate depends on the loan amount, tenure and repayment capacity of the individual. The rates also depend on the source of income as well.
The loan proposed by the bank can be consumed for financing any of the personal needs, such as for the wedding of children, expansion of business, medical emergency, to travel or for higher education. The company helps people in need by providing the required amount of finance. However, the loan is provided to the eligible candidates. The eligibility norms as prescribed by the bank are:
- Only the salaried individual can avail the benefit of PL
- The minimum age of the applicant should be 25 years but should be more than 53 years
- The applicants living in Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida, Pune, Surat and Thane must earn a minimum salary of Rs. 40,000 per month.
- For the citizens living in Chandigarh, Cochin, Jaipur and Nagpur the minimum net salary should be Rs. 35,000.
- The loan applicants residing in Aurangabad, Baroda, Bhubaneswar, Indore, Madurai, Mysore, Nasik, Trivandrum, Vijayawada and Vizag must earn a minimum monthly salary of Rs. 30,000.
To avail the benefit Personal loan the candidate has to apply on the company’s official website. Or even by visiting the nearest office branch you can apply for the loan. You need to fill the application form. The form comprises of following sections:
- Personal Details
- Income Details
- Loan Details ( amount, tenure and repayment period)
With the application form you need to submit the following documents.
Proof of Identity – Passport / Voters ID card / Driving license / PAN card
Proof of Residence – Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR / Admin sign)
Employment Proof – Employee ID card
Income Proof – Salary slips of last 2 months
Bank Statements – Salary account bank statement of the last 3 months
The loan application if approved will be credited to your account. You can utilise the amount as per your wish. It also, provides multiple options to repay the loan. The product is uniquely designed to help people and let them fulfill their wishes and desires. The company aims at delivering the best and providing the quality service to the customers.
The Bajaj Finserv Personal Loan Interest Rate are also competitive. It offers the best pricing and let you accomplish your goals. The features that make it all the way more reliable are provided below:
Features of Bajaj Finserv Personal Loan
- Instant online loan approval – The online application is instantly approved and the documents are collected from the house of the applicant.
- Amount disbursed within 72 hours – After approval, the loan is disbursed within 3 days and the amount is credited to the account of the applicant.
- Get loans up to Rs. 25 lakhs – The applicant can avail the loan of up to Rs. 25 lakhs as per his/her eligibility.
- Flexible loan tenure – The loan can be repaid during the tenure ranging from 24 months to 60 months.