To be eligible for a Bajaj Finserv Personal Loan, you must be an Indian resident, aged 21 to 80 years (at loan maturity), employed as a salaried individual in a public, private, or MNC, and have a minimum CIBIL score of 650. A minimum monthly income of ₹25,001 or higher is required, depending on the city of residence.
Personal loan eligibility parameters
You must be between Minimum 21 years to 80 years of age. You must be a salaried individual employed with an MNC, public, or private company. You must be a residing citizen of India. You must have a minimum CIBIL score of 650 (Click here to check your CIBIL score for free).
Bajaj Finserv Personal Loan minimum salary requirement starts at Rs. 25,001 in more than 3,000 cities in India. These criteria differ marginally depending on the city in which you reside.
NRIs can access personal loans up to ₹9,00,000, subject to income verification and creditworthiness assessment. The final approved amount depends on your monthly income and repayment capacity.
To apply for the Insta EMI Card, you must be an India citizen between 21 and 65 years of age with a regular source of income and a good credit score. You will also need your Aadhaar card number for KYC verification.
To get a Bajaj Finserv Personal Loan, you need a CIBIL Score of 650 or above. Can I get a personal loan with a 650 CIBIL score? You need a CIBIL score of 650 or higher to get a Bajaj Finserv Personal Loan.
Eligibility Criteria for Personal Loan on Rs 18,000 Salary
You should be between 21-58 years. You should be a citizen of India. Six months for salaried applicants and 2 years for self-employed applicants. You should have a minimum income of Rs 15,000 monthly.
For a ₹20 lakh loan over 10 years, your EMI (Equated Monthly Installment) will typically range from about ₹23,500 to ₹26,500, depending heavily on the interest rate, with lower rates like 7.45% giving around ₹23,584 and higher rates like 9% around ₹25,335. You need the exact interest rate to get a precise figure, as it significantly impacts the monthly payment and total interest paid over the decade.
Low Income
While processing your Personal Loan application, one of the required criteria for eligibility is to have an appropriate regular income through a job, profession, or business. If your income is lower than the criteria or if it is volatile, the chances of you getting a Personal Loan can drop.
A CIBIL score of more than 750 means that you have been a responsible borrower, paying off your loans and Credit Card bills on time. This makes it easier for you to get future loans approved. A low score is said to be below 700, which is considered the minimum credit score for Personal Loan.
Existing Bajaj Finance Limited customers with a good credit profile can get a pre-approved personal loan without documents through our Insta Personal Loan. It offers quick access to funds without the need for income proof or bank statements. New customers may need to submit basic documents.
It can take up to 24 hours*, depending on factors like documentation, eligibility, and verification processes. How do I get the lowest interest rates on a personal loan?
What is the minimum credit score required for a ₹15,000 salary personal loan? The minimum credit score required for a personal loan with a ₹15,000 salary usually ranges from 650 to 750. A higher credit score improves your chances of loan approval and better terms.
You can check your pre-approved loan offer using the following steps:
While income documents are usually required, some lenders offer a 3 lakh loan without income proof by accepting alternative documents like: KYC documents: Aadhaar/ passport/ voter's ID/ driving license/ Letter of National Population Register/ NREGA job card. PAN card.
Visit the official Bajaj Finserv website or app and head to the Insta EMI Card section. Enter your basic details like mobile number, date of birth, and PAN card information to get instant eligibility results. You must be an Indian citizen aged between 21 and 65 years, with a stable income and a good credit profile.
Lenders may have certain credit requirements, such as a minimum credit score, that you have to meet to qualify. Issues like a thin credit file or a low credit score may lead to a denied personal loan application.
Apply online for a personal loan and get up to ₹55 Lakhs to manage all your expenses, big or small, on Bajaj Markets. Enjoy interest rates starting at just 9.99% p.a., with flexible repayment tenures of up to 96 months.
With IDFC FIRST Bank's FIRSTmoney, you can get a loan offer of up to ₹10 lakhs based on your eligibility, with a monthly salary of ₹60,000.
Personal Loan Eligibility Criteria
Age - 23-60 years. Work Experience: Minimum 2 years of work experience with 1 year in the same company. Loan Tenure - 1 year - 7 years. Profession: Salaried professions or business owners withdrawing a fixed income from their own company.