Bajaj Finance Announces Personal Loan Product Range

Bajaj Finance Ltd, a subsidiary of Bajaj Finserv Ltd and a deposit‑taking NBFC registered with the RBI, has launched a personal loan offering that allows eligible borrowers to obtain unsecured credit between Rs 40,000 and Rs 55 lakh. The loan can be repaid over 12 to 108 months, with interest rates spanning 10% to 30.5% per annum; the exact rate is determined after the lender’s eligibility assessment.

The company provides an online personal loan EMI calculator that lets prospective borrowers input the desired loan amount, interest rate, and tenure to estimate monthly instalments and total interest payable. The calculator also highlights how longer tenures lower EMI but increase overall interest, while shorter tenures raise EMI but reduce total interest cost.

Eligibility Criteria

Applicants must be Indian nationals aged 21 to 80 years, with the additional condition that they must be 80 years or younger at the end of the loan tenure. Employment may be with a public‑sector, private‑sector, or multinational organization, and both salaried and self‑employed individuals are considered. A CIBIL score of 650 or higher is required. Meeting these criteria does not guarantee approval; final offers depend on document verification and other terms.

Loan Variants

Bajaj Finance offers three distinct personal loan structures:

  • Term Loan – the full sanctioned amount is disbursed upfront and repaid through fixed EMIs covering principal and interest; no flexi facility charges apply.
  • Flexi Dropline Loan – borrowers can draw funds up to the sanctioned limit as needed; fixed EMIs are charged on the withdrawn amount, subject to applicable terms.
  • Flexi Hybrid Loan – the initial period features interest‑only EMIs on the withdrawn amount, followed by standard EMIs that include both principal and interest.

The choice among these variants depends on the borrower’s cash‑flow needs and preferred repayment pattern.

Application Process and Disbursal

The application can be initiated online via the Bajaj Finance website. The steps include checking loan eligibility by entering the desired amount and tenure, providing personal, financial, and employment details, reviewing the personalized loan offer, completing KYC verification, and interacting with a loan specialist for final processing. Subject to successful verification, the company aims to disburse funds within 24 hours, though this timeline is not guaranteed and depends on completion of all required checks.

About Bajaj Finance Ltd

Bajaj Finance serves over 124.43 million customers through a diversified portfolio that includes consumer loans, SME finance, commercial lending, rural lending, fixed deposits, and payments, delivered via web, app, and 4,000+ physical locations. The firm positions itself as a FinAI company, leveraging technology, data, and analytics for personalized customer experiences. It holds the highest domestic credit ratings of AAA/Stable (long‑term) and A1+ (short‑term), along with CRISIL AAA/Stable, ICRA AAA/Stable for its FD program, S&P BBB/Stable (long‑term) and A‑2 (short‑term), and a Moody’s Baa3 Corporate Family Rating with a stable outlook.

Terms and conditions apply; the 24‑hour disbursal claim is contingent upon successful document verification and other applicable conditions.