Is Bajaj Finserv Personal Loan Eligibility Criteria Easy To Meet?

Seeking a personal loan that offers a high loan amount? Bajaj Finserv Personal loan is an attractive option that is dominating the market in terms of exciting interest rates and loan amount. Bajaj Finserv is the only Non-Banking Financial Company (NBFC) that  offers a loan amount upto INR 25 lakh. So, now instead of taking a loan for a trip to the Middle East, you can do a Euro trip. Or, throw a lavish wedding instead a small one planned. You can repay this loan over a period ranging from 12 months to 60 months - higher loan amounts with long tenure. Isn’t that great? In the event of prepayment or foreclosure, Bajaj won’t even charge you a penny as foreclosure charges.

Further, the documentation procedure is absolutely minimal without any complexities involved. The loans are disbursed instantly (within 24 hours) once the approval is granted. The application process is simple and can be done online. So if you are someone who is very busy to go to a branch, you can just apply online. The eligibility criteria for Bajaj Finserv Personal Loan is easy to meet. Here’s a list of criteria that you should meet. Check if you meet the Bajaj Finserv personal loan eligibility criteria:

• The applicant must be a salaried individual with a public or private limited company.  People working in the government sector can also apply for these loans.
• Applicant must be within the age range of 23-58 years.
• He/she must be a citizen of India.
• The applicant must meet the minimum salary bracket criteria. This differs from cities to cities:

-The applicant should earn a minimum salary of INR 35000 in the following cities to meet the Bajaj Finserv personal loan eligibility criteria - Bangalore, Delhi, Pune, Mumbai, Hyderabad, Chennai, Coimbatore, Ghaziabad, Noida, Thane.

     - The applicant should earn a minimum salary of INR 30000 in Ahmedabad and Kolkata.

- INR 28000 in Jaipur, Chandigarh, Nagpur, Surat, Cochin

- INR 25000 in Goa, Lucknow, Baroda, Indore, Bhubaneswar, Vizag, Nasik, Aurangabad, Madurai, Mysore, Bhopal, Jamnagar, Kolhapur, Raipur, Trichy, Trivandrum, Vapi, Vijayawada, Jodhpur, Calicut, Rajkot.

     It is imperative to know the Bajaj Finserv personal loan eligibility criteria to understand how loan rejections can take a toll on your CIBIL score. You should also be familiar with the documents that need to be submitted to procure the loan.

Documents that needs to be submitted along with the Application Form

- ID Proof: You need to produce a copy of Aadhar card, Passport, Driving Licence or Voter ID card (any one is sufficient) to Bajaj.

- Address Proof:  Any of these documents needs to be produced before the banks, Passport/Driver’s License/Ration Card/Mobile Bill/Letter from employer.  

- Salary Slips: To prove your current employment, you’ll have to submit salary slips for the last three months.

- Bank Statements: In addition to the salary slips, you’ll have to produce the bank statements which will convince Bajaj of your income status.

- Signature Proof: Passport/PAN Card/Driver’s License/Photo Credit Card/Letter from the bank verifying signature.