What is The Eligibility Criteria For Bajaj Finserv Personal Loan?

Some of you might be seeking out personal loan options with relatively low interest rate options to meet your special needs. And it gets really confusing to filter the best ones out with so many players operating in the market. Turns out, one of the NBFCs (non-banking finance companies) that stands out in terms of interest rates and repayment benefits is Bajaj Finserv. Its personal loan comes with a bundle of benefits. It fits well for all your financial needs from taking a Euro trip to house renovation to medical emergency to meeting wedding expenses. Bajaj offers an attractive interest rate option that ranges from 10.99%-16%. If you’ve a good credit score, it shouldn’t be much of hassle in getting a lower rate. To surprise you with more benefits, Bajaj has introduced an additional scheme, Flexi Personal Loan, which is a beneficial repayment option for the borrower. If you decide to prepay your loan, you’ll be delighted to know that there are no foreclosure charges.

What makes the Bajaj Finserv Personal loan more suitable is its super easy application process. Without any extensive documentation procedure involved, you can easily avail the loan. If the online application seems flawless, the customer might even get an instant approval. The reason behind the uncomplicated nature of documentation process is the availability of loan without any collateral. Before you apply, make sure to meet the eligibility criteria and the credit scores set by Bajaj.

Time to address the question of the hour - What is the Eligibility Criteria?

- The applicant must be a salaried individual, employed with a MNC, public or private company.

- He/She should definitely be a citizen of India.

- The applicant’s age must be in the range of 23-57 years.
- The minimum net monthly income of the salaried employed should INR 25000/ INR 28000/ INR 30000/ INR 35000 (salary requirements differs from city to city).

If you’re curious whether you meet the eligibility criteria for the Bajaj Personal Loan, you can check it online. There are various personal loan Eligibility calculator online that helps you know whether you are eligible to get the loan or not. Once you’ve met all the eligibility criteria, it’s time for a documentation process. Nothing to worry about. The Bajaj Finserv Personal Loan documentation process is extremely simple and hassle free. You just need to submit the below mentioned documents and you’re all set.

- The application form duly signed with two photographs.
- Proof of Employment - Employee ID card would suffice.
- Proof of Identification - Passport/Aadhar Card/Driver’s License/PAN/Voter Id

- Address Proof - Passport/ PAN Card/ Mobile Bill/Letter from Employer/ Ration Card

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

- Work Experience Documents - Appointment letter, Form 16, 1-year-old salary slip, for the previous employment also

- Business IT returns for the last year.

- Previous year’s turnover duly audited by a CA.

Just submit these documents and Bajaj Finserv will release the funds into your bank in 24 hours. Loan application process is speedy and easy when it comes to Bajaj Finserv personal loan.