Archive · 23 Sep 2026
Personal Loans: Eligibility, Interest Rates, EMIs and Repayment Guide
A personal loan lets you borrow money without pledging an asset as security.
You receive the money at once and repay it in monthly instalments called EMIs.
People may use these loans for medical costs, education, travel, weddings, home renovation, or debt consolidation.
Bajaj Finance says eligible applicants can seek loans from Rs.
40,000 to Rs.
55 lakh.
The repayment period can range from 12 to 108 months, depending on the applicable terms.
Interest rates affect how much the loan costs overall.
A longer repayment period can make each EMI smaller but may increase the total interest paid.
Before applying, borrowers should compare the total repayment cost with their income and existing commitments.
Personal loans are unsecured loans that do not require collateral and are repaid through scheduled EMIs.
Bajaj Finance lists loan amounts from Rs. 40,000 to Rs. 55 lakh and tenures from 12 to 108 months, subject to eligibility.
Stated eligibility factors include Indian nationality, age 21 to 80 years, employment, self-employed or salaried status, and a CIBIL Score of 650 or higher.
Interest rates can range from 10% to 30.5% per annum, while longer tenures may reduce EMIs but increase total interest.
Applicants can apply online, complete KYC verification, and may receive disbursal within 24 hours after required verification and formalities.
- Who
- People seeking funds for planned or urgent expenses and Bajaj Finance as the lender described in the guide.
- What
- A guide to personal-loan features, eligibility, interest rates, documents, EMIs, online application, and repayment considerations.
- Where
- Through the Bajaj Finance website and online application process.
- Why
- To help borrowers assess, apply for, and repay a personal loan for eligible expenses.
- Loan type
- Unsecured loan; collateral is not required.
- Loan amount
- Rs. 40,000 to Rs. 55 lakh, subject to eligibility and applicable terms.
- Repayment tenure
- 12 months to 108 months, as applicable.
- Interest rate
- 10% to 30.5% per annum, subject to applicable terms.
- Stated eligibility
- Indian nationality; age 21 to 80 years; public, private, or MNC employment; salaried or self-employed applicants; and a CIBIL Score of 650 or higher.
- Possible disbursal time
- Within 24 hours after required documentation, verification, and applicable formalities.
- Common documents
- KYC documents, PAN card, employee ID, recent salary slips, and recent bank account statements may be required.