The calculator allows borrowers to compare different repayment scenarios before applying. A longer tenure may reduce the monthly EMI but can increase the total interest payable, while a shorter tenure may increase the monthly EMI but potentially reduce the overall interest cost.
The Bajaj Finance Personal Loan provides access to loan amounts between Rs. 40,000 and Rs. 55 lakh, allowing customers to align the borrowing amount with their actual funding requirement instead of borrowing more than necessary.
The repayment tenure ranges from 12 months to 108 months, giving customers the option to select a repayment period that suits their monthly budget and repayment capacity. The applicable interest rate affects both the EMI and total interest payable. A higher rate can increase the monthly repayment and overall borrowing cost, while a lower rate can reduce the repayment burden, subject to the applicable loan offer.
Customers should assess the loan amount, interest rate and tenure together before deciding on a repayment structure.
The Bajaj Finance Personal Loan interest rate ranges from 10% to 30.5% per annum. Borrowers can enter the applicable rate in the EMI calculator to estimate repayment for a proposed loan amount and tenure. A higher interest rate can increase both the monthly EMI and total interest cost. The final interest rate offered to an applicant remains subject to the lender's assessment, eligibility and applicable terms.
The loan amount also has a direct bearing on monthly repayment. A higher loan amount generally results in a higher EMI when the interest rate and tenure remain unchanged. Borrowers can use the personal loan EMI calculator to compare different loan amounts before deciding how much to borrow. Borrowing only the amount required can help borrowers assess the repayment commitment against their income and existing financial obligations.
Tenure also changes the relationship between EMI and total interest. A longer tenure spreads repayment across more months, which can reduce the monthly EMI, but interest may be payable over a longer period. A shorter tenure can result in a higher monthly EMI while potentially reducing the total period over which interest is charged. Borrowers should therefore compare the monthly EMI with the total repayment amount when selecting a tenure.
The personal loan EMI calculator provides an estimated monthly instalment based on the loan amount, interest rate and repayment tenure entered by the borrower. Customers can adjust these inputs to compare different repayment options, including the impact of changing the tenure on the monthly EMI for the same loan amount. The comparison can help borrowers assess whether the estimated repayment fits within their monthly budget. The calculator result is an estimate and should not be treated as the final repayment obligation.
Bajaj Finance has stated eligibility criteria that include Indian nationality, an age of 21 to 80 years* and employment with a public-sector organisation, private-sector organisation or multinational company. Applicants can be salaried or self-employed. A CIBIL Score of 650 or higher is also among the stated criteria, while the applicant must be 80 years or younger at the end of the loan tenure.
Meeting the stated criteria does not guarantee approval. Borrowers can use the personal loan eligibility calculator to estimate the loan amount they may be eligible for based on the information provided. The final loan offer remains subject to eligibility assessment, document verification and applicable terms.
Bajaj Finance offers three personal loan variants: Term Loan, Flexi Dropline Loan and Flexi Hybrid Loan. Each variant has a different repayment structure and Flexi facility.
Under the Term Loan, the full sanctioned loan amount is disbursed at once and repaid through fixed EMIs covering principal and interest. No Flexi facility charges apply.
Under the Flexi Dropline Loan, customers can withdraw from the sanctioned loan limit as required. Fixed EMIs cover the principal and interest on the withdrawn amount, subject to applicable terms and charges.
Under the Flexi Hybrid Loan, the initial tenure has interest-only EMIs on the withdrawn amount. The subsequent tenure has EMIs covering both principal and interest, subject to applicable terms and charges.
The choice of loan variant depends on the required borrowing pattern, repayment structure and applicable charges.
Borrowers can start the personal loan application process online through the Bajaj Finance website. Customers can visit the personal loan page, enter the loan amount needed, select the repayment period and click on "CHECK LOAN OFFER" to check loan eligibility.
Applicants then need to provide personal, financial and employment details to receive a personalised loan offer. They can review the offer details and adjust the loan amount or repayment tenure, if required. The applicant can then complete KYC verification of identity and bank details to proceed with the application. Once the loan application is submitted, an executive will contact the applicant with the next steps.
The application remains subject to eligibility and successful verification. The stated disbursal timeline is within 24 hours*, subject to successful document verification and applicable terms. The 24-hour* timeline should not be treated as a guaranteed disbursal period, as the actual timing depends on completion of the required verification and other applicable conditions.
The Bajaj Finance Personal Loan combines loan amounts from Rs. 40,000 to Rs. 55 lakh with repayment tenures of 12 to 108 months and interest rates ranging from 10% to 30.5% per annum. Customers can use the personal loan EMI calculator to compare repayment scenarios before applying and assess how the selected loan amount, interest rate and tenure may affect monthly repayments.
The final loan amount, applicable interest rate and repayment terms remain subject to eligibility assessment, verification and applicable terms.
*Terms and conditions apply.
*Disbursal within 24 hours is subject to successful document verification and applicable terms.
Bajaj Finance Ltd. (BFL), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL serves over 124.43 million customers through a diversified portfolio comprising consumer loans, SME finance, commercial lending, rural lending, fixed deposits and payments, offered through Web, App and at 4,000+ locations.
As a FinAI company, BFL is focused on continuous innovation through smart use of technology, data and analytics to drive seamless, simplified and personalized experiences for its customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BBB/Stable and a short-term rating of A-2 by S&P Global ratings. It has been assigned a ‘Baa3 Corporate Family Rating’ with Stable outlook from Moody’s Rating.
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