Bajaj Finserv sanctions a digital Personal Loan in only a few minutes, making these credits ideal for emergencies. Intending borrowers, especially those who are looking for immediate financial assistance, can make the most of several prominent features by availing a personal credit from this NBFC.
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Table of Contents
Benefits of a personal loan
Here’s a list of features and benefits of Personal Loan from Bajaj Finserv and benefit borrowers in more than one ways –
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Simple documentation
A digital personal loan extended by the NBFC follows a simple documentation process. Applicants need to submit a few important documents while applying to initiate the verification process accordingly.
Some of the most common documenhttps://www.bajajfinserv.in/insights/instant-digital-personal-loants include –
-KYC documents.
-Bank statement.
-Proof of income.
-Passport size photographs.
It must be noted that the NBFC may ask applicants to provide additional documents to back their loan plea.
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Online application process
One of the primary features of a Bajaj Finserv Personal Loan is that one can easily apply for it online in just a few clicks. Typically, an applicant can initiate the application process by meeting these following steps –
- Visit the financial institution’s official website.
- Navigate to the ‘Personal Loan’ page.
- Click on the ‘Apply Now’ button.
- Provide required information and check the same.
- Generate an OTP on a registered mobile number.
- Proceed to provide details pertaining to a loan amount, tenor, etc.
- Click on the ‘Submit’ button.
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Quick approval
The simple, easy application process is followed by a quick documentation and approval process. This, in turn, helps applicants to access the required loan value in no time. Once the personal loan application is approved online, the financial institution initiates the process of verification.
The financial institution also extends pre-approved offers to customers to make the entire process of availing credits more feasible. Such offers apply to personal loans, business loans, among other financial products. Check your pre-approved offer online in a few simple steps by providing your name and contact number.
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High loan value
Based on applicants’ repayment capacity and creditworthiness, among other factors, applicants can avail up to Rs.25 lakh. Such a feature helps individuals to meet their financial requirements with greater ease.
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Prompt disbursal
Once the verification process of personal loan is completed, and the loan application is approved, the amount is quickly disbursed into the applicant’s account. Usually, it takes around 24 hours to disburse the loan post verification. Existing customers may be able to receive the funds even quicker.
In turn, it helps applicants to avail the required financial aid at the earliest and subsequently helps to meet any kind of personal need promptly.
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Flexible tenor
An instant digital personal loan comes with a flexible tenor ranging between 1 and 5 years. Depending on the requirement and repayment capability, applicants can choose a suitable tenor to make EMIs affordable.
To make a more informed decision, individuals can use a personal loan calculator and assess their ability to pay the resulting loan EMI effectively.
It must be noted that only eligible applicants will be able to benefit from these features and other lucrative offerings of a personal loan. Consequently, before individuals apply for a personal loan, they must check the loan eligibility in detail
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Simplified eligibility criteria
Here are the most common eligibility criteria to avail a personal loan in 2 clicks –
- Resident Indian between the age group of 23 years and 55 years.
- CIBIL score of at least 750.
- Salaried with an MNC, private company or public company.
- Monthly salary must match the minimum income as specified by the institution.
Personal loans come with zero-restrictions. It means borrowers can use it to meet an array of requirements ranging from meeting a medical emergency to funding a family vacation. Therefore, all such features make a digital Personal Loan from Bajaj Finserv to avail quick and effective financial assistance when in need.
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