Calculate your monthly Bajaj Finserv personal loan EMI, total interest, and amortization schedule, including processing fees.
Bajaj Finance personal loan interest rates vary by your income, employer category, and credit profile. Enter your sanctioned or applicable rate — check bajajfinserv.in or the Bajaj Finserv app for current rates.
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This calculator estimates your monthly Bajaj Finance personal loan EMI, total interest payable, total repayment including the processing fee, and net loan proceeds (the amount credited to your account after the fee is deducted upfront). Bajaj Finance Limited — the NBFC lending arm of Bajaj Finserv — is one of India's largest personal loan lenders, known for instant digital approval, a wide borrower base, and the Flexi Personal Loan facility. Use this calculator to understand the true cost of a Bajaj Finance personal loan before applying.
Bajaj Finance personal loans use the standard monthly reducing balance EMI formula. The processing fee is deducted upfront from the disbursed amount (or added to the total cost depending on the product), while EMIs are calculated on the full loan amount.
Formula: EMI = [P × R × (1 + R)N] ÷ [(1 + R)N − 1]. Processing Fee = Loan Amount × Fee %. Net Proceeds = Loan Amount − Processing Fee.
Example: ₹3,00,000 Bajaj Finance personal loan at 13% per annum (example rate — enter your Bajaj Finance sanctioned rate), 36-month tenure, 2% processing fee: Monthly EMI ≈ ₹10,108.19. Total interest ≈ ₹63,894.68. Processing fee = ₹6,000 (plus GST ₹1,080). Net loan proceeds = ₹2,94,000. Total repayment ≈ ₹3,63,894.68. (Note: this is an illustrative estimate — actual rates and fees depend on your profile.)
Bajaj Finance Limited (BFL) is one of the most active unsecured consumer lenders in India, offering personal loans across salaried and self-employed segments. The company is regulated by the Reserve Bank of India as a Systemically Important NBFC. Bajaj Finance personal loans are available for amounts from ₹20,000 to ₹40 lakh for salaried employees and up to ₹35 lakh for self-employed borrowers, with tenures from 12 to 84 months. Bajaj Finance is known for two distinctive personal loan products: the Term Loan (standard fixed-rate, fixed-tenure EMI) and the Flexi Personal Loan. The Flexi Personal Loan is a revolving credit facility where an approved limit is sanctioned and the borrower draws funds as needed, paying interest only on the drawn amount and a monthly subscription fee on the undrawn limit. Flexi Loans are particularly cost-efficient for borrowers who need liquidity over a period but may not draw the full amount immediately. For standard term personal loans, Bajaj Finance charges a processing fee (typically 0-3.99% of the loan amount plus 18% GST). The processing fee is usually deducted upfront from the disbursed amount. Bajaj Finance uses CIBIL score, income, employer profile, and internal BFL credit data (for existing customers) to determine rates and eligibility. The minimum CIBIL score for a Bajaj Finance personal loan is typically 700-720, with borrowers at 750+ accessing the most competitive rates. Bajaj Finance is known for its fast digital approval through the Bajaj Finserv app — pre-approved customers can get disbursements within minutes. For those who need very small amounts (₹20,000-₹1 lakh), Bajaj Finance also offers its EMI Network Card, which provides a pre-approved loan limit usable at partner retail stores for consumer purchases.
Bajaj Finance personal loan interest rates typically range from around 11% to 35% per annum, depending on the loan amount, tenure, income, employer category, and CIBIL score. Salaried borrowers at top-tier companies with a CIBIL score above 750 qualify for the lowest rates. Self-employed borrowers and those with moderate credit scores may face higher rates. Check bajajfinserv.in or the Bajaj Finserv app for current rates, or review the rate mentioned in your pre-approved offer if you are an existing Bajaj Finance customer.
A Term Loan is a standard fixed-EMI product — you borrow a fixed amount, repay in equal monthly instalments, and the interest is charged on the reducing principal. A Flexi Personal Loan gives you an approved credit limit from which you draw as needed — interest is charged only on the amount drawn, and you pay a monthly subscription fee on the undrawn limit. Flexi Loans allow you to part-prepay and re-draw within the limit. For borrowers who need a lump sum for a specific purpose, the Term Loan may be simpler; for variable cash needs, the Flexi Loan can be more cost-effective.
Bajaj Finance offers personal loans up to ₹40 lakh for salaried borrowers and up to ₹35 lakh for self-employed borrowers, subject to income, CIBIL score, and FOIR. Tenures range from 12 to 84 months. The maximum sanctioned amount is typically determined by your net monthly income and the FOIR constraint — total EMIs (including the new loan) should not exceed 50-55% of gross monthly income. For larger amounts and longer tenures, Bajaj Finance may request additional income documentation.
Bajaj Finance typically allows foreclosure and part-prepayment on Term Loans after a lock-in period (usually 6 months or 1 year), subject to foreclosure charges of around 2-4% of the outstanding principal plus GST. For Flexi Loans, there is generally no prepayment charge and you can repay at any time and re-draw within the limit. RBI guidelines require banks to allow free prepayment of floating rate retail loans; however, Bajaj Finance is an NBFC and its fixed-rate personal loans may not be covered by this specific RBI rule — always verify the exact foreclosure terms in your loan agreement.
For salaried borrowers: PAN card, Aadhaar (for KYC), latest 3 months' salary slips, 3-6 months' bank statements, and employer ID or offer letter. For self-employed borrowers: PAN and Aadhaar, ITR for the last 2 years, business registration proof, and 6 months' bank statements. Bajaj Finance pre-approved customers (existing BFL customers with a good track record) may receive loans with just OTP-based verification through the Bajaj Finserv app, with minimal or no physical documentation required.
The processing fee for Bajaj Finance personal loans is typically 0-3.99% of the loan amount (plus 18% GST). The fee is usually deducted upfront from the disbursed amount — you receive the loan amount minus the fee, but your EMI is calculated on the full loan amount. For example, on a ₹3,00,000 loan with a 2% fee, you receive ₹2,94,000 but pay EMIs based on ₹3,00,000. This effectively increases the true annual borrowing cost beyond the stated interest rate. For Flexi Loans, there may be a different fee structure including a monthly subscription fee.
Disclaimer: This calculator is an independent tool and is not affiliated with or endorsed by Bajaj Finserv Limited or Bajaj Finance Limited. Interest rates, processing fees, and eligibility shown are examples only. Actual personal loan terms depend on Bajaj Finance's current rates, your CIBIL score, income, and product type. Processing fee plus GST reduces net disbursed amount. Always verify rates and charges at bajajfinserv.in or the Bajaj Finserv app before applying.