Sunday, September 22, 2019

Bajaj Finserv Personal Loan: The Ideal Option for All Your Big-Ticket Expenses

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| September 12, 2019 7:41:36 PM IST
Pune (Maharashtra) [India] Sept 12(ANI/BusinessWire India): The flexible and customer-friendly features of a personal loan have made it extremely popular among Indian borrowers, especially when it comes to meeting big-ticket expenses.

According to Reserve Bank of India, the deployment of personal loans grew at the rate of 16.9 per cent in May 2019.

Bajaj Finserv, through its lending and investment arm Bajaj Finance Ltd, offer personal loans to give you an unparalleled borrowing experience. From the ease of access to unrestricted usage and instant approval to quick disbursal, this loan is packed with rich features that make it an ideal financing option for large expenditures. Be it home renovation, wedding expenses, medical treatment or higher education, the Bajaj Finserv Personal Loan is a reliable means to get the financing you need.

Look at what you stand to gain when you avail a personal loan from Bajaj Finserv:

High-value sanction to cover big-ticket expenses with ease

With an increase in the standard of living, yesterday's luxuries have become today's necessities. That said, given inflation and a multitude of expenses you may have to tackle every month, an equally high disposable income may not be enough to fund your high-value expenses and goals. Fortunately, with the Bajaj Finserv Personal Loan, you can access a substantial sanction of up to Rs 25 lakh without pledging any collateral.

Thanks to such a large loan offering, you don't have to dip into your savings, should you fall short of funds. So, whether you are looking to avail quality medical treatment or sending your child overseas for education, with the Bajaj Finserv Personal Loan, you can fund both big-ticket purchases and urgent needs easily.

Simple eligibility and minimal documentation speed up approval

While each lender follows its own set of eligibility terms based on which they evaluate your creditworthiness and repayment ability, Bajaj Finserv puts forth simple terms that help you qualify for the loan without any hassles.

Here is the basic criteria based you need to meet.


You should be a resident Indian aged 23 to 55 years


You should be employed with an MNC, a public or a private sector company


Your net monthly income should meet the prescribed limit based on your city of residence

Once you qualify for the loan based on these easy terms, you can proceed to apply for it. At this stage, gather the required documents and submit them to further prove your eligibility.

Since this personal loan is a collateral-free loan, so you only have to submit minimal documents in order to prove your identity and income. Here they are.


KYC documents like PAN card and Aadhaar card


Employee ID card


Last 2 months' salary slips


Last 3 months' bank account statements of your salary account

By submitting the above in one go, you can expect instant approval within 5 minutes and an equally quick disbursal in just 24 hours.

Flexible repayment terms help you be on top of your finances

Since repaying a loan is equally important, Bajaj Finserv offers flexible terms that reduce the stress on your finances so that you can make regular monthly payments as per your convenience.

Firstly, you can choose a suitable tenor ranging up to 60 months, as per your comfort and select an easy EMI accordingly. To do this, use the personal loan EMI calculator to determine a budget-friendly EMI. Next, you can also make part-prepayment towards your loan, should you have additional funds or simply foreclose it when you have access to a bigger corpus. This way, you can cut down on your interest expenditure and close the loan before the tenor and get debt-free sooner.

Flexi personal loan helps you lower your EMIs by up to 45 per cent

With Bajaj Finserv, you can also avail the flexi personal loan to enjoy greater freedom and flexibility in terms of withdrawal and repayment. You can make multiple withdrawals from your approved line based on your needs and pay interest only on the amount you utilise. This is especially useful when you have to meet recurring expenses, as it eliminates the hassles of applying for additional funding.

Further, you can manage liquidity in a better way by paying interest-only EMIs over the initial part of the tenor. Doing this, you can save up to 45 per cent on your EMIs.

Online loan account allows you to manage your finances on the go

Finally, you can easily manage your loans via an online account, which offers a range of facilities that enhance your loan servicing experience. For instance, you can view your statement of account, access your repayment schedule, review terms and conditions of the loan, and manage your EMIs all in one place via your unique online account.

Additionally, you can also prepay your loan from anywhere at any time without any hassles. This way you can always be informed and updated about your finances and enjoy greater control over your debt.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

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