Check Bajaj Finance Personal Loan Eligibility Before Applying

Check Bajaj Finance Personal Loan Eligibility Before Applying

Bajaj Finance is a leading non-banking finance company in the business of providing custom personal loans to a variety of customers wishing a glorified life as well as wanting to come to grips with the uncertainty that may strike anytime. Yes, the loan can be granted to ensure a glittering wedding at one point. On the other side, sudden medical emergencies can also be met with a personal loan.

But to get a personal loan, it’s also important for you to meet the eligibility criteria. So, if you don’t know the Bajaj Finance Personal Loan Eligibility criteria, you can check the same in this post before applying.

Bajaj Finance Personal Loan Eligibility Criteria

Bajaj Finance puts in place a few eligibility criteria for you to meet. Check out the same below. ● The age of the borrower must be between 23 and 55 years ● Resident Indians can apply for the loan ● Anyone working in an MNC, public or private limited firm can apply for the loan After checking the basic criteria, it’s time to check the requirements in terms of salary.

How Much Salary Do You Need to Get the Nod from Bajaj Finance?

The minimum salary requirement differs on the basis of the city you live at. If you are living in Delhi, Mumbai, Bengaluru, Chennai, Noida, Ghaziabad, Coimbatore, Hyderabad, Pune and Thane, you must have a minimum monthly salary of Rs. 35,000. For those residing in Ahmedabad and Kolkata, the minimum salary required is Rs. 30,000 per month. Those residing in Chandigarh, Jaipur, Cochin, Surat and Nagpur must earn a minimum of Rs. 28,000 a month to get the approval. People residing in cities other than mentioned above must have a minimum monthly salary of Rs. 25,000 to gain the nod from the

How to Get Bajaj Finance Personal Loan at Lower Interest Rates?

Bajaj Finance Personal Loan Interest Rates start from 12.99% per annum. The actual rates would depend on the earning, credit score and the financial liabilities, if any, are borne by an individual. Greater you earn more are the chances of you repaying without a hassle. And so, it can result in getting the rates lowered much to your delight. A credit score can, however, be a real game changer as it shows your capability to pay off the debt.

If you have had an experience of paying the debt for a minimum of 6 months, you must have a credit score that can be anywhere between 300 and 900. If you have repaid on time, the credit score would most likely be 750 and beyond. If that’s the case, Bajaj Finance can lower the interest rates on your personal loan. Credit scores below 700 can be rejected by the lender. Even if the case is approved, the interest rates can notch a lot higher than usual. The higher rates would cough out more through the Equated Monthly Installments (EMIs) compared to when you strike a lower rate of interest to service the debt.