Personal Loan Eligibility Calculator - Check Eligibility Online | Bajaj Finserv (2024)

Anyone who meets the five basic criteria listed below can apply for our personal loan. If you meet all the eligibility criteria, you will require a set of documents to complete the application process. Check our loan eligibility criteria before applying.

• Nationality: India
• Age: 21 years to 80 years*.
• Employed with: Public, private, or MNC.
• CIBIL score: 685 or higher.
• Monthly salary: Starting Rs. 25,001, based on the city you live in.

*You should be 80 years* or younger, at the end of the loan tenure.

Documents required to complete the personal loan application process

• KYC documents: Aadhaar/ PAN card/ passport/ voter’s ID.
• Employee ID card.
• Salary slips for the last 2 months.
• Bank account statements for the previous 3 months.

Factors that affect personal loan eligibility

Personal loan eligibility hinges on several critical factors that vary among lenders but collectively influence approval decisions:

• Credit Score: A crucial determinant, your credit score reflects your creditworthiness based on past credit behaviour and repayment history. Lenders typically prefer higher scores indicating a lower credit risk. Maintaining a good credit score enhances your chances of approval and favourable loan terms.
• Monthly income: Lenders evaluate your income to assess your repayment capability. A higher monthly income suggests a greater ability to manage loan repayments, making you a more attractive borrower. Stable and sufficient income is essential for meeting eligibility requirements.
• Work experience: Your employment history and stability demonstrate financial stability and reliability to lenders. Longer tenure in a job or profession indicates steady income and reduces the perceived risk of default.
• Current liabilities: Existing debts and financial commitments impact your disposable income available for loan repayment. Lenders assess your debt-to-income ratio to ensure you can manage additional debt responsibly.
• Lender relations: Previous interactions with the lender, such as existing accounts or relationships, can influence eligibility. Positive relations may provide benefits like faster processing or preferential terms.

Meeting these criteria increases your likelihood of loan approval and favourable terms, reflecting responsible financial management and reducing lender risk.

You are eligible for a Bajaj Finserv Personal Loan if you are a salaried professional aged between 21 years and 80 years*. Read about personal loan eligibility and documents needed here.

If you wish to apply for a personal loan, you need to determine your eligibility before applying for it. To do that, you can use the eligibility calculator. Here is how to check the personal loan eligibility:

• Open the loan eligibility calculator.
  
• Select the city of residence, date of birth, employer, monthly income and monthly expenses.
  
• Once you select these fields, the tool will show an amount that you will be eligible for.
  
• You can apply for the same amount and get quick loan approval online.
  

You can obtain a personal loan for salaried employees by meeting our simple eligibility criteria.Have a look at the personal loan eligibility of Bajaj Finserv:

• You need to be a residing citizen of India
• You should be aged between 21 years and 80 years*
• You need to be employed with a private, public limited company, or an MNC
  
• You should have a minimum CIBIL score of 750
  

After checking the eligibility criteria you can also calculate your loan EMI using our Personal Loan EMI Calculator based on your loan amount.

Qualifying for a personal loan is easy if you can meet the eligibility criteria of Bajaj Finserv and submit some documents.

Eligibility:

• You should be aged between 21 years and 80 years*
• You need to be a resident of India
• You should be working for an MNC, private or a public limited company
• You should have a minimum CIBIL score of 685

Documents:

• KYC documents
• Employee ID card
• Last 3 months’ salary slips
• Salaried bank account statement of the previous 3 months

Along with these, the lender will also look at your CIBIL score and repayment history before approving your personal loan application.

Anyone who meets the basic personal loan eligibility criteria can apply for our personal loans:

• Nationality: Indian
• Age: 21 years to 80 years*.
• Employed with: Public, private, or MNC.
• CIBIL score:685 or higher.
• Monthly salary: Starting Rs. 25,001, based on the city you live in.

*You should be 80 years* or younger, at the end of the loan tenure.