Bajaj Finance Ltd. is a non-banking financial company, which engages in the lending and allied activities. It offers consumer finance, SME finance, commercial lending, and investment. The company was founded on March 25, 1987 and is headquartered in Pune, India.
A personal loan is a good way to address short term loan requirements. Whether you want to match a medical emergency, wedding expenses, travel expenses or home makeover, you can get an instant cash loan for any sort of need. Besides being cost-effective, they give an additional advantage as to secure them, you don't need to pledge any kind of your valuables. This is the reason that most of the borrowers admit personal loans as the best way to get an instant loan in India.
Any individual who is an Indian citizen or national and has residual income qualifies for the personal loan. By design Personal Loans are unsecured loans and therefore an applicant does not have to worry about furnishing paperwork related to collateral. For getting a personal loan, you need to fulfill certain parameters as a part of the eligibility criteria.
|Bajaj||ROI||Max Loan Amount||Tenure||Processing Fee||Late Payment||Foreclosure Charges||Partpayment Charges|
|Business Loan||18%||Max upto Rs. 30 Lakhs||Min 1 Year – Max 5 Years||upto 3% of loan amount||4% + applicable charges||2% per month + applicable taxes||2% + applicable taxes|
|Home Loan||9.05%||10 cr||25 years||upto 2 %||2% plus applicable taxes if fixed||2% per month|
|Personal Loan||11.99%||25 lakh||60 months||2%||4% foreclosure charge plus applicable taxes on principal outstanding||N/A||2% part-prepayment charge plus applicable taxes|
|Personal Loan||ROI||Max Loan Amount||Tenure||Processing Fee||Late Payment||Foreclosure Charges||Partpayment Charges|
|Kotak Mahindra Bank||10.99% - 18%||15 lakh||60 months||2.5 % + GST||After 12 months, 5% foreclosure charges + GST||3% p.m compounded monthly on the Amount due||Not allowed|
|RBL Bank||13.99%||20 lakh||60 months||2.5% + GST||13-18 Months: 5%, >18 Months: 3% foreclosure charges||24 % p.a on amount outstanding from date of default||Not allowed|
|Bank of Baroda||11.35% - 16.35%||10 lakh||4 years||2%||Allowed after 1 EMI's, Nil prepayment charges||N/A||Allowed after 1 EMI's,|
|IIFL||13%||25 lakh||12 months to 60 months||2% + GST||upto 6%||2% compounded annually||Not allowed|
|HDFC Bank||11.25 % - 18 %||50 lakh||60 months||upto 2.5 %||Allowed after 12 EMI's, 2 - 4%||2% per month on EMI/Principal Overdue||Allowed after 12 EMI's, 2-4%|
|ICICI Bank||11.25%||30 lakh||60 months||2.25 % + GST||5% per annum of principal outstanding plus GST||24 % p.a on amount outstanding from date of default||Not allowed|
|IndusInd Bank||11.25%||25 lakh||60 months||2.5% + GST||Allowed after 12 EMI's, 4%||Rs 150/- plus taxes, Per EMI delay beyond 5 days||Not allowed|
|Bajaj||11.99%||25 lakh||60 months||2%||4% foreclosure charge plus applicable taxes on principal outstanding||N/A||2% part-prepayment charge plus applicable taxes|
|Tata Capital||11.75%||20 lakh||60 months||2.5% + GST||No foreclosure in first 6 months, 4.5% + GST||3% on Overdue Amount per month + GST||Allowed after 6 EMIs, Nil prepayment charges|