Bajaj Finserv is one of India's largest NBFCs and a go-to lender for salaried professionals who need quick personal loan approvals. In 2026, Bajaj Finserv personal loans start at ₹1 lakh and go up to ₹40 lakh, with tenures of 12 to 84 months and interest rates beginning at 11% per annum for top-tier borrowers.
What makes Bajaj Finserv stand out is its Flexi Loan facility — a hybrid credit line that lets you withdraw and repay within your sanctioned limit while paying interest only on what you use.
Overview and key product features
- Loan amount: ₹1 lakh to ₹40 lakh
- Tenure: 12 to 84 months
- Interest rate: 11% to 31% p.a. (reducing balance)
- Processing fee: Up to 3.93% of loan amount (inclusive of GST)
- Approval time: Within 5 minutes for pre-approved customers
- Disbursal: Same day or next business day after document verification
The Term Loan works like a standard EMI product — fixed monthly outgo. The Flexi Loan lets you withdraw from your sanctioned limit multiple times and pay interest only on the utilised amount. EMI for the Flexi variant can be 45% lower during the interest-only phase.
Interest rates and fees 2026
| CIBIL Score | Interest Rate (p.a.) | Processing Fee | Prepayment Charges |
|---|---|---|---|
| 750 and above | 11% – 14% | Up to 1% | NIL after 1 EMI (Flexi) |
| 720 – 749 | 14% – 18% | Up to 2% | 4% on outstanding principal |
| 700 – 719 | 18% – 24% | Up to 3% | 4% on outstanding principal |
| Below 700 | 24% – 31% or rejection | Up to 3.93% | 4% on outstanding principal |
Other fees: bounce charges of ₹700 – ₹1,200 per instance, penal interest of 2% p.m. on overdue EMIs, and a loan cancellation charge of 2% on principal if cancelled after disbursal.
Eligibility for salaried applicants
- Age: 21 to 80 years at loan maturity
- Employment: Salaried at a private company, MNC, or government organisation
- Minimum salary: ₹25,000 per month net in-hand for metro cities
- Work experience: Minimum 12 months with current employer
- CIBIL score: 685 or above (700+ recommended)
Each formal loan application triggers a hard enquiry on your CIBIL report. If you apply to five lenders simultaneously, your score drops by 15–25 points. Check eligibility first before applying formally.
Pre-approved customers get instant Bajaj Finserv loan offers in the app with zero document uploads in most cases.
EMI calculation examples
EMIs at an indicative rate of 13% p.a. for CIBIL 750+ borrowers in 2026:
| Loan Amount | Tenure | EMI at 13% p.a. | Total Interest Paid |
|---|---|---|---|
| ₹3 lakh | 24 months | ₹14,272 | ₹42,528 |
| ₹5 lakh | 36 months | ₹16,856 | ₹1,06,816 |
| ₹10 lakh | 48 months | ₹26,836 | ₹2,88,128 |
| ₹20 lakh | 60 months | ₹45,494 | ₹7,29,640 |
| ₹40 lakh | 84 months | ₹71,408 | ₹19,98,272 |
How to apply online
- Check your pre-approved offer: Log in to the Bajaj Finserv app or website with your mobile number.
- Enter loan details: Choose your loan amount, tenure, and variant (Term or Flexi).
- Complete Aadhaar e-KYC via OTP — takes under 2 minutes for most customers.
- Bank account verification: Penny drop or net banking verification confirms your salary account.
- Disbursal: Funds credited within 30 minutes to 4 hours after final approval for pre-approved customers.
If you are managing multiple EMIs and considering a Bajaj Finserv loan to consolidate them, first verify that the new consolidated EMI is genuinely lower than your combined current payments. A loan at 13% replacing credit card debt at 36% makes clear financial sense.