Make Your Dreams Come True with Bajaj Finserv Personal Loan

There are so many wishes that we all carry with ourselves. Some want to go to an exotic trip to Malaysia while others want to give a makeover to their house. There are so many fathers who want to throw the best marriage party for their daughters. Some want to send their children to US or UK for higher education, whereas others require funds for a medical treatment of any family member. All these wishes or needs are linked to finance. Finance plays an important role in our life. Without it, life won’t be so picture perfect as everything now has a price. Bajaj Finserv Personal loan is the ultimate answer to all your necessities. The product can be used to meet any of the above needs and can be easily availed if you are able to meet the eligibility norms set by the popular NBFC. This article will give you all the important information about the product.

Eligibility criteria-

There are certain norms of eligibility which decide your capacity to repay the loan. Only salaried professionals can obtain a personal loan from Bajaj Finance. The applicant should be between the age group of 25 to 53 years in order to be eligible for the product. The applicant should have obtained the age of 25 years when the loan is applied.

An income criteria has been set which plays an important role in determining the repayment capacity of the applicant. Applicants living in the cities of Mumbai, Noida, New Delhi, Surat, Banglore, Ahmedabad, Hyderabad, Chennai, Coimbatore, Faridabad, Ghaziabad, Gurgaon and Thane are supposed to earn a minimum of Rs. 40,000 each month for availing the product. In case, the applicant lives in Nagpur, Chandigarh, Kochi, Kolkata and Jaipur then he/she should earn a minimum of Rs. 35,000 as salary every month. All those who reside in tier 2 cities like Aurangabad, Vijayawada, Bhubaneswar, Baroda, Mysore, Madurai, Indore, Nasik, Trivandrum and Vizag are required to earn a salary of at least Rs. 30,000 every month. In case you can match the eligibility norms, you can expect a smooth disbursal of the product on due time.

Documents required:

Just like eligibility norms, documentation too holds a very important place when it comes to hassle free disbursal of the product. Interested applicants should know about the essential which they will have to submit to Bajaj Finance. Check out the list of the important documents.

  • Proof of Identity-  Voter ID card/ PAN card/Aadhar card/ Driving License/Passport
  • Proof of employment- Your employee ID card
  • Proof of Address- Utility bill/Passport/ Driving License/Letter from employer which has a HR sign/ Ration card/ Latest mobile bill
  • Bank statement of the last three months is needed
  • Proof of Income- Salary slip of the last two months

Interest rate and processing fee-

You will be pleased to know that the interest rate for the product is affordable and starts from 12.75% onwards. As a loan seeker, your top priority should be to avail the loan at the best interest rate because this would mean lower EMIs for you. There is also a processing fee which is charged from you for availing the product. It ranges between 2.25% to 3% of the loan amount which is sanctioned. You should keep in mind that an EMI bounce of Rs. 1,000 is charged for every bounce you make.

Bajaj Finserv Personal Loan Eligibility calculator-

It is very essential for you to become well versed with the Personal loan eligibility calculator which will assist you in determining whether you are eligible for the product or not. It will tell you about the maximum loan amount you can fetch. Unlike other calculators, it is not at all confusing and complex. You have to simply feed in some details like your date of birth. Do remember, the format has to be in DD(Date)/ MM(Month)/ YYYY (Year). Once you are done with that, you have to type in your current city, your net salary and the name of your employer,. You also have to mention the with loan EMIs you pay every month. In case, you don’t have any EMIs you can enter the amount as zero. You are also required to give the outstanding amount on your credit card. A major thing which has to be brought to your notice is that you have to tick whether you have availed a home loan or not. The tool is simply magical and will help you to decide whether  you should contact the NFBC or not regarding the loan.

So don’t wait any more. Make your dreams turn into reality by availing a Bajaj Finserv Personal Loan.