Under the revised repayment structure, eligible customers can now choose a repayment period ranging from 12 months to 108 months. The wider tenure provides borrowers with greater flexibility in selecting an Equated Monthly Instalment (EMI) that aligns with their monthly budget and financial commitments.
The longer repayment period is expected to support better financial planning, particularly for customers seeking higher loan amounts. By extending the repayment schedule, borrowers may reduce their monthly repayment obligations, improve cash flow management, plan significant expenses with greater confidence, select an EMI suited to their financial goals, and minimise repayment pressure over the loan term.
The Bajaj Finance Personal Loan is available to both salaried and self-employed individuals requiring financial assistance for major personal expenses. Customers can utilise the loan for medical emergencies, home renovation or repairs, wedding expenses, higher education, travel, holidays, and other planned personal requirements. Loan amounts are available from Rs. 40,000 to Rs. 55 lakh, enabling customers to borrow according to their financial needs.
The personal loan interest rate starts from 10% per annum and can go up to 30% per annum, depending on factors including the customer's profile, eligibility, credit assessment, and other applicable lending criteria. As the loan is unsecured, applicants are not required to provide collateral or pledge any assets during the application process.
The company has designed the online application process to remain straightforward and convenient. Eligible customers can begin by checking their loan eligibility after entering the desired loan amount and preferred repayment tenure to view available loan offers. Applicants are then required to submit their personal, financial, and employment details to receive a personalised loan offer. After reviewing the offer, customers may adjust the loan amount or repayment tenure, wherever applicable, before completing Know Your Customer (KYC) verification and bank account authentication to facilitate loan disbursal. Once the application is submitted, a Bajaj Finance representative contacts the applicant to guide them through the remaining stages of the loan process.
The enhanced personal loan offering continues to provide loan amounts ranging from Rs. 40,000 to Rs. 55 lakh, repayment tenure between 12 and 108 months, interest rates from 10% to 30% per annum, collateral-free financing, minimal documentation, and a quick approval process. For eligible applicants, loan funds may be disbursed within 24 hours, subject to applicable terms and conditions.
Bajaj Finance stated that the personal loan solution has been developed with a focus on convenience, flexibility, and responsible lending. By expanding repayment options, offering competitive interest rates, and maintaining a streamlined digital application process, the company aims to support customers with diverse financial requirements while enabling structured and manageable repayments.
Bajaj Finance Limited, a subsidiary of Bajaj Finserv Limited, is 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 company operates across retail, small and medium enterprise, and commercial lending segments with a significant presence in urban and rural India. It also accepts public and corporate deposits while offering a broad portfolio of financial services. With a history spanning thirty-five years, the company has built a consolidated customer franchise of 69.14 million. Bajaj Finance holds domestic credit ratings of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable and ICRA AAA(Stable) for its fixed deposit programme. It also holds a long-term issuer credit rating of BB+/Positive and a short-term rating of B from S&P Global Ratings.
The extension of the repayment tenure to 108 months marks a significant enhancement in Bajaj Finance's personal loan portfolio, providing eligible customers with greater repayment flexibility while strengthening access to unsecured financing for a wide range of planned and emergency financial needs.
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