Announcement
Bajaj Finance Ltd. announced that the maximum amount available under its personal loan product has been raised from Rs 55 lakh to Rs 75 lakh, representing an increase of Rs 20 lakh. The revised limit is offered on a collateral‑free basis and is available to eligible customers whose income, credit profile and existing obligations satisfy the lender’s assessment criteria.
Loan Features
The personal loan continues to provide flexible repayment tenures ranging from 12 months to a maximum of 108 months. Interest rates are tiered between 10% and 30.5% per annum, with the exact rate determined by the applicant’s profile and the lender’s underwriting assessment. Applicants are also required to review processing fees and other applicable charges before accepting the loan offer. An EMI calculator is made available on the Bajaj Finance website to help borrowers estimate monthly repayments based on loan amount, interest rate and tenure.
Intended Use Cases
The higher loan ceiling is positioned to support customers undertaking substantial personal expenditures, including medical treatment, home renovation, education costs, major family events and other personal needs. Because the loan is unsecured, borrowers are not required to pledge any property or assets as security, though borrowing is expected to align with genuine repayment capacity.
Application Process
Prospective borrowers can apply through the official Bajaj Finance website. The digital process involves an eligibility check, submission of personal and financial information, upload of required documents and review of the loan offer. Upon approval, funds may be disbursed within 24 hours* subject to verification, completion of formalities and applicable terms. The asterisk denotes that standard terms and conditions apply and that actual processing times may vary.
About Bajaj Finance Ltd.
Bajaj Finance Ltd. (BFL) is a deposit‑taking Non‑Banking Financial Company (NBFC‑D) registered with the Reserve Bank of India and classified as an NBFC‑Investment and Credit Company (NBFC‑ICC). It operates as a subsidiary of Bajaj Finserv Ltd. BFL serves 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, mobile app and more than 4,000 physical locations.
Credit Ratings
BFL holds the highest domestic credit rating of AAA/Stable for long‑term borrowing and A1+ for short‑term borrowing. It also carries CRISIL AAA/Stable and ICRA AAA/Stable ratings for its fixed‑deposit programme. Internationally, it has a long‑term issuer rating of BBB/Stable and a short‑term rating of A‑2 from S&P Global Ratings, and a Moody’s Corporate Family Rating of Baa3 with a Stable outlook.
Disclaimer
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