How to get a personal loan from Bajaj Finserv in 4 easy steps - Loan Trivia


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Thursday 23 April 2020

How to get a personal loan from Bajaj Finserv in 4 easy steps

Bajaj Finserv is one of the most reputed NBFCs operating in India. It offers a range of financial products, both secured and unsecured. Personal loans are one such unsecured product. With Bajaj Finserv’s online application system, availing a personal loan has become a hassle-free procedure. 

If you are looking to avail such a loan, following the four easy steps mentioned below will guarantee instant personal loan approval.

Steps to Avail a Bajaj Finserv Personal Loan

  • Step 1- Choose the correct loan tenor and amount

You can avail a personal loan as per your eligibility. However, it is better to stick to just as much as you need. Higher loan amounts will result in either higher EMIs or an extended tenor. Use the personal loan eligibility calculator to determine the loan amount you can avail.

For personal loans, the tenor varies between 12 months and 60 months. You should pick the period based on your repayment ability. If you want to keep EMIs low, choose the longer period, and vice versa.

  • Step 2- Filling up the form

Fill up the online form with personal details, including your name, age, gender, KYC, phone number, email address, residence address, etc. 

Apart from the personal information, you would also need to fill up the details regarding your employment. Ensure you provide the company name, your designation at the firm, your monthly and yearly salary, experience at the company and other relevant information regarding your field of work.

The instant personal loan form also has a section regarding your financial background. This is where you need to provide your CIBIL score, FOIR and other essential information. Ensure your FOIR is below 50% at the time of application to ensure quick approval. Additionally, your CIBIL score must be equal to or more than 750 to ensure swift processing of these loans. 

  • Step 3- Documentation  

After completing Bajaj Finserv’s online application process, a representative from the company will visit you. He/she will collect your salary slips, KYC documents, bank account statements and photocopy of employer’s ID card from you. This procedure is convenient because the representative will be at your doorstep to collect the necessary documents.

  • Step 4- Disbursement

After you have completed submitting the application form and documentation perfectly, the NBFC will disburse your low interest personal loan within one or two days. You can check your savings account to see whether you have received the funds or not.

Reasons to Avail a Personal Loan from Bajaj Finserv

Many NBFCs offer personal loans. However, competitive rates, eligibility criteria and flexible tenor set Bajaj Finserv apart from other lenders in the market. 

Here are some advantages of availing instant personal loans from the company.

  • Flexi personal loans- Bajaj Finserv offers specialized Flexi Personal Loans, which reduce your EMI burden by up to 45%. This helps in convenient repayment of the advances.

  • Minimum documentation- To avail a loan from the company, you do not need to go through stringent documentation procedure. Instead, you can apply with just four documents, namely your KYC documents, salary slips, employee identification card and bank account statements.

  • Fast approval and disbursement- If you are in immediate need of funds, an instant Personal Loan is the go-to option. Bajaj Finserv completes the entire sanction and disbursement procedure within 24 hours. 

Bajaj Finserv also provides pre-approved offers on loans, making them more accessible and quick to avail. These offers are available for secured loans, such as home loans, as well as unsecured loans, like a business and personal loans. You can check your pre-approved offers by providing your name and phone number.

So, stop worrying about your finances. Avail an online personal loan to finance your diversified expenditures.

Must Read: 4 Ways to Apply For a Bajaj Finserv Personal Loan

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