Frequently Asked Questions

1. What is the minimum salary required for a personal loan?

The minimum salary requirement varies by lender but is typically around ₹15,000 to ₹25,000 per month for salaried individuals.

2. What is the maximum loan amount I can get?

You can apply for a personal loan up to ₹50 Lakhs. The final approved amount depends entirely on your income, repayment capacity, and credit score as assessed by the lending partner.

3. What are the typical interest rates?

Interest rates generally start from 10.49% p.a. and can go up to 24% p.a. or more, depending on your credit profile and the lender's policies.

4. Do you charge a processing fee?

Bajaj Finance does not charge any fees from applicants. However, if your loan is approved, the lending Bank or NBFC may deduct a processing fee (usually 1% to 3%) from the disbursed amount.

5. Is CIBIL score mandatory?

A good CIBIL score (usually 700 and above) significantly improves your chances of approval and helps secure lower interest rates. Some lenders may offer loans to individuals with no credit history, but conditions apply.

6. How long does approval take?

Once your complete documents are submitted, lenders usually take anywhere from a few hours to 3 working days to process and disburse the loan.