India is getting used to the idea of loans being a useful way to manage expenses. With millennials valuing experiences over things, borrowing a relevant amount of money to meet your immediate financial goals – whether that’s travel to an exotic country or an elaborate wedding party – and repaying the loan over a suitable tenor is today seen as a convenient way to get what you want.
And as the reality of living with credit gains wider acceptance, personal loans are growing in popularity. According to Reserve Bank of India data, personal loans accounted for as much as 96% of new bank loans during FY18. And the reasons for their popularity are many.
These loans are largely unsecured – you don’t need to pledge an asset as security – and can be used to finance a variety of needs. You can use a personal loan to bear the expenses of a home renovation project or use one to travel. You can manage the cost of a medical emergency or even make a big-ticket purchase. One can use a personal loan for almost anything.
Personal loans are also easy to avail. With lenders offering pre-approved loans at attractive interest rates, getting one takes hardly any time. And with technology advancing rapidly, you can get a paperless personal loan right from your smartphone.
Bajaj Finance Ltd., the lending arm of Bajaj Finserv, offers instant and hassle-free personal loans up with several benefits including:
Loans up to Rs.25 lakh
Bajaj Finserv’s instant personal loan comes with a high loan limit of Rs.25 lakh, repayable over flexible tenors of 24 months to 60 months.
No collateral or guarantors
Bajaj Finserv offers unsecured loans that don’t need any security or collateral. You can get one based on your credit score and eligibility.
Instant approval, quick disbursals
With approvals in minutes and money in bank in just 24 hours, a Bajaj Finserv Personal Loan is your answer to instant finance. You can apply on the company’s website or through the Experia app by sharing your basic details.
Simple eligibility criteria and pre-approved offers
To avail a Bajaj Finserv Personal Loan, you need to meet its simple eligibility criteria and submit minimal paperwork. You may even have a pre-approved offer curated for you.
Up to 45% lower EMIs
By choosing the Flexi loan facility, you can reduce your personal loan instalments by up to 45% with interest-only EMIs.
Online account management
Manage your loan account from home or at work with a dedicated online customer portal. You can track your instalments, check your loan status, and manage your loan repayment schedule all in one place.