Get the all types of information about personal loan through this PDF. Visit here, If you want to apply personal loan on-line :- https://www.bajajfinserv.in/finance/personal-loan/salaried-personal-loan.aspx

1. The Bajaj Finserv guide to
Personal Loan

2. Are you a prospective personal loan applicant, looking for a comprehensive loan guide?
We’d like to help as much as possible, so here’s an extensive guide to all your queries.
A personal loan is a loan that can be used for any purpose without providing any collateral.
For instance, to fund an overseas vacation or an emergency medical situation. In fact, there
are few loans that allow complete freedom to spend on whatever or however you want to.
That’s why a personal loan carries a higher rate of interest.
What is a personal loan?
VACATION
PAYING OFF AN
EXISTING DEBT
WEDDING
EDUCATIONAL
PURPOSES
MEDICAL
EMERGENCY
GIFT
HOME
IMPROVEMENT
Personal Loan can be used for:

3. What are the different types of personal loans in India?
1. Secured loan
Here the borrower pledges a certain asset as guarantee against the loan. If you fail to make
the repayments, the bank can take over your asset and auction it to recover money.
2. Unsecured loan
Unsecured loans are sanctioned without any collateral. This type of loan is considered risky by
lenders. Therefore an unsecured loan usually carries a high rate of interest. This is the most
common kind of personal loan in India.
3. Fixed rate loan
This offers the same interest over the entire period of your loan so you don’t have to worry
about increasing rates. But you wouldn’t be able to reap benefits of interest cuts.

4. 4. Variable loan
This loan has a variable rate of interest and repayments can fluctuate. This is great to take
advantage of low prevailing interest rates, but can be a burden if interest rates rise.
5. Flexi Loan
The Flexi Loan is an industry-first option offered by Bajaj Finserv. Here, you can prepay any
time with the ability to drawdown funds, up to your credit limit. So, you can access large
amounts for multiple occasions without applying for individual loan each time. You can save
on interest rates as you only pay for the amount utilized for a given period.

5. A personal loan is a great tool in managing your finances
and acts as an impetus in putting your plans into action.
Here are the unique benefits of Bajaj Finserv Personal
Loan:
Instant online approvals
With Bajaj Finserv Personal Loan say goodbye to the never ending wait for a Personal Loan
approval or heaps of paperworks or the daily visit to banks. Get 100% end-to-end online
Personal Loan solutions, from approval to disbursal. By opting for a Personal Loan from
Bajaj Finserv you can get instant approval in 5 minutes and the loan amount will be
disbured to your bank account within 72 hours.
From wherever you are, simply log onto the online section, fill an online form and get
approval on your application within minutes.

6. Get funds in bank within 72 hours
Bajaj Finserv understands that at times you may need funds in a short span of time and to ensure
that funds are at your disposal at the earliest we make sure that loan amount is disbursed to your
bank in 72 hours.
Loans up to Rs.25 lakh
You can apply for a Personal Loan online from Bajaj Finserv up to Rs.25 lakh and repay it at your
ease by opting for tenures ranging from 24 months to 60 months.
Part prepayment facility
There are times when you may have some extra cash in hand or get a bonus at work, you can
choose to prepay your loan amount to get a reduction in EMIs or a reduced tenure which can help
you close your loan quicker.
Bajaj Finserv gives you the choice to prepay your EMIs six times in a calender year provided the
minimum prepayment sum is equivalent to 3 EMIs. There is no maximum limit for repayment
amount.

7. Nil foreclosure charges
There are times when you may want to close your Personal Loan before its tenure but don't as
closing your loan before the tenure is subjected to foreclosure charges.
But Bajaj Finserv gives you the advantage of choosing to foreclose your personal loan account
during your tenure without paying any foreclosure charges.
Preapproved offers
As an existing customer of Bajaj Finserv, you will be eligible to get exclusive pre-approved offers
from us.
Online account access
Once you avail of a Personal Loan from Bajaj Finserv, you can get all information about your loan
like payment schedule, interest certificate, repayment track and all key information related to
your loans through our online customer portal.

8. How can you apply for a Personal Loan with Bajaj Finserv?
You can apply for a Personal Loan from Bajaj Finserv either online or offline:
1. Online
Applying for personal loan online is a simple four step procedure
Application form
Access the online form on Bajaj Finserv’s website and make sure you provide all the correct
details.
Approval
On submission of loan application, you will receive a confirmation email.
Document verification
After your loan approval, our representative will collect the required documents.
Loan credit
After necessary checks, the loan amount will be disbursed to your designated account along
with a welcome kit and the login details on your mobile.

9. 2. Offline
You can also get your loan process started through the below mentioned offline procedures.
Call on 020-46900700
SMS “PL” at 9773633633
Give a missed call at 9212489356
Write to us at personalloans@bajajfinserv.in
1. ONLINE
2. OFFLINE

10. Interest rates and other applicable fees
Bajaj Finserv offers one of the most reasonable interest rates. The fees on instant online
approvals for loans of up to Rs.25 lakh are:
Type of Fee Charges
Processing Fee 2%-3% of principal loan amount
Foreclosure Charges N/A
Penal Interest 2% p.a.
EMI Bounce Charges Rs.1,000 per bounce
Secure Fee (only for online) Rs.999
Average Interest Rate 16%

11. What is the eligibility criteria to avail of a Personal Loan?
25-58 years of age.
Net monthly income of Rs.40,000, or more applicable to residents of metro cities and
Rs.35,000, or more, in Tier-II cities.
What are the documents required?
Financials
Salary slips of the last three months.
Employment proof
Employee ID card and visiting card.
Work experience documents
Current work experience documents include your appointment letter, Form 16 and salary slips.
Previous employment documents like appointment letter, Form 16, confirmation letters and
salary slips.

12. Know-Your-Customer documents
KYC documents must be furnished. These include:
Identity Proof
Signature Proof Age Proof
Address Proof