In India, many lenders offer personal loans. However, few of them have trust like these two lenders, which we are going to talk about. For your next financial requirement, they could be useful.
Those lenders are Bajaj Finserv personal loan and HDB personal loan. We will get you to know about their details, such as their eligibility criteria, loan details, their charges, and other things. It will help you to understand which is better for you. Then apply for its personal loan.
Bajaj Finserv personal loan
Bajaj Finserv persona loan became popular due to its highly customizable loans. It addresses the unique situation a borrower might have to deal with a specific financial situation.
- Bajaj Finserv offers personal loan up to Rs 25 lakh.
- The rate of interest starts at 12.9(% onwards.
- The loan tenure is up to 5 years.
- The processing pay is up to 3.99% of the loan amount.
- The pre-payment charge is 2% of the loan amount.
- The foreclosure charge is 4% of the amount paid.
- The cheque bounce charge is between Rs 600 and Rs 1200.
- The secure fee is Rs 4499.
- The penal interest is 2% of EMI per month.
- The mandate rejection service charge is Rs 450.
- The outstanding collection charge is Rs 65.
Types of Bajaj Finserv personal loan
- Bajaj Finserv flexi loan
- Bajaj Finserv lifestyle finance personal loan
- Bajaj Finserv digital product finance loan
- Bajaj Finserv personal loan for medical
- Travel loan
- Medical loan
- Debt consolidation loan
- Wedding loan
Bajaj Finserv personal loan eligibility criteria
To apply for a personal loan, You have to qualify for Bajaj Finserv’s personal loan eligibility criteria mentioned below.
- The applicant’s age should be minimum of 23 years.
- The applicant should be an Indian citizen.
- The applicant should be a salaried individual or self-employed professional.
- The applicant’s minimum salary should be at least Rs 25,000 per month.
Documents requirement for Bajaj Finserv personal loan
- The application form
- Proof of identity ( Aadhar card, Passport, Driving license, Voter ID card)
- Proof of address ( Registered rent agreement, utility bill, telephone bill)
- Income proof ( Bank statement for the last three months, Salary slips for last six months, and ITRs for last 2 years)
Why should you choose Bajaj Finserv’s personal loan?
- Bajaj Finserv’s personal loan application process is easy to complete.
- It has one of the lowest EMI.
- The loan is instantly disbursed upon verification complication.
- The rate of interest is competitive and best in class.
Bajaj Finserv personal loan customer care
For any enquiry or question, you can contact Bajaj Finserv personal loan customer car at 020-39574151. The customer care Email-id is [email protected].
How to apply for Bajaj Finserv personal loan?
To apply, visit Bajaj finserv personal loan official website. You can also download its app from the Google play store. The third way is to visit the nearest Bajaj Finserv branch. Overall, the process is easy, quick, and transparent to complete.
There is a dedicated 24*7 customer care with an instant approval facility for existing customers. Due to its easy approach, Bajaj Finserv became one of India’s top NBFCs providing a personal loan. Now, let’s move on to the following lender.
HDB Personal loan
HDB’s personal loan is the armchair of the HDFC group. It is one of the prestigious financial institutions in India that offers various financial services. Here are its personal loan details.
- HDB offers a loan amount of up to Rs 20 lakh.
- The rate of interest starts at 12.75% per annum.
- The processing fee is up to 3% of the loan amount.
- The pre-payment charge is up to 4% of the loan amount.
- The EMI overdue is 2% per month.
- The cheque-swapping fee is Rs 500.
- The cheque bounce fee is Rs 550 for every occurrence.
- The lowest EMI is Rs 2, 781 per lakh.
Features of Benefits of HDB Instant personal loan
- HDB offer one of the affordable interest rate similar to Bajaj Finserv personal loan.
- The documentation process is easy and simple to do.
- The loan is instantly disbursed.
- There is a doorstep service for borrowers’ convenience.
- HDB does not require collateral, security, or a guarantor.
- HBD offers flexible loan repayment tenure.
HDB Personal loan eligibility criteria
- The applicant should be a salaried individual, self-employed professional, or a businessperson.
- The applicant should be an employee of a central, state, or PSU organization.
- The applicant should be from 21 years to 65 years.
- The applicant’s minimum salary should be at least Rs 12,000 per month.
- For self-employed, it is Rs 50,000 per month.
- The applicant should have at least two years of work experience.
- The applicant should be working in the current organization for a minimum of 1 year.
- The business should be a minimum of 5 years of operations.
Require documents for HDB personal loan
- The loan application form
- Proof of identity – Aadhar card, PAN Card, Driving license, Passport, Voter ID card
- Proof of address – Lease agreement, utility bill, life insurance policy
- Proof of income – ITRs for last two years, Bank statement, Salary slip, and passbook statement for minimum six months
- Qualification proof
- Business continuity proof
HDB Personal loan customer care
If you have any questions or queries regarding the loan, you can contact them at +914442984541.
How to apply
To apply, head to HDB official website. From there in the products list section , choose a personal loan. A new page will open. From there, fill out the form giving all the information. There is five steps into it. It is an easy and simple process to complete.
Conclusion
Now, you know ,which lender is apt for you . It all depends upon your perspective. If you need a bigger loan amount, Bajaj Finserv personal loan is an ideal choice. The rate of interest is almost identical, however depending upon your credit score, it will be decided.
The real deal is the lower processing fee on both sides. They need minimal documents and the application process is quick and transparent.
