Bajaj Finance has strengthened its position in India’s retail lending sector by enhancing its personal loan offering with an extended repayment tenure of up to 108 months, aiming to improve affordability, flexibility, and access to credit through a fully digital and collateral-free borrowing process.
The personal loan product is designed to meet a wide range of financial requirements, including medical expenses, travel, education, home improvement, weddings, and other planned or emergency funding needs. It provides unsecured financing, eliminating the requirement of any collateral or security, thereby improving accessibility for both salaried and self-employed individuals.
A key development in the revised offering is the expansion of repayment tenure options ranging from 12 months to 108 months. This allows borrowers to select repayment schedules aligned with their income levels and financial planning. The extended tenure structure reduces monthly equated instalments, enabling borrowers to manage household expenses and financial commitments more efficiently over the long term.
The lending process is fully digital, requiring minimal documentation. Identity, address, and income verification can be completed electronically, significantly reducing processing time and paperwork. Upon approval, loan disbursal is typically completed within 24 hours, subject to eligibility and verification criteria.
Interest rates on the personal loan are structured between 10 percent and 30 percent per annum, depending on the applicant’s credit profile, eligibility, and repayment behaviour. Loan amounts range from ₹40,000 to ₹55 lakh, making the product suitable for both small-scale and high-value financial requirements.
The product is available to both salaried employees and self-employed professionals, with transparent terms disclosed during the application process to support informed financial decision-making. Bajaj Finance has positioned the offering as part of its broader focus on responsible lending and customer-centric financial solutions.
Bajaj Finance Limited, a subsidiary of Bajaj Finserv Limited, operates as a deposit-taking Non-Banking Financial Company registered with the Reserve Bank of India and classified as a Non-Banking Financial Company–Investment and Credit Company. The organisation is engaged in lending and deposit acceptance activities across retail, small and medium enterprises, and commercial segments, with a strong presence in both urban and rural markets.
The company, which has completed over three decades in the financial services sector, reports a diversified lending franchise of 69.14 million customers. It holds strong credit ratings, including AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable and ICRA AAA(Stable) for its fixed deposit programme. Additionally, it carries a long-term issuer credit rating of BB+/Positive and a short-term rating of B assigned by S&P Global Ratings.
With its expanded tenure structure, competitive pricing framework, and fully digital application ecosystem, Bajaj Finance continues to position its personal loan product as a scalable and accessible financing solution designed to support long-term financial stability and evolving customer needs across India.
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