Know the Bajaj Finserv Personal Loan Eligibility to Get Easy Loans

Bajaj Finserv is the most diversified non-banking financial institution in the country. It provides finance for the widest set of outcomes. It helps people realise their aspiration and support them in fulfilling them. The company understands the variant needs of each class of customers and therefore lends money to the eligible candidates. The Bajaj Finserv Personal Loan eligibility criteria are simple and based on the age, income and repayment capacity of the individuals. The company provides personal loan for various purposes and they are as follows:

Purpose of Lending Personal Loan:

• For wedding
• For travel
• For home improvement
• For medical emergency
• For higher education

Personal Loan Details-

The applicant must check the following details before applying for the personal loan:

• Interest Rate -  The interest rate on the loan is decided on the basis of customer’s profile. The Bajaj Finserv personal loan rate of interest starts from 13.99% p.a.
• Processing Fee - The customer has to pay the processing fee ranging from 2.25% to 3% of the loan amount.
• EMI Bounce Charges - For every EMI bounce, the borrower has to pay the charge of Rs. 1,000.
• Penal Interest - If the borrower defaults in interest payment then he/ she has to pay the penal interest of 2% per month.
• Foreclosure Charges -  On early repayment of the loan the candidate has to pay 4% of the outstanding amount and service taxes
• Pre- payment Charges - The candidates making part payment before the due date have to pay the 2% of the outstanding loan amount.

Personal Loan Eligibility Criteria-

Bajaj Finserv provides personal loan only to the salaried individuals. The individuals must standby the following parameters in order to avail the benefit of personal loan:

• The age of the applicant should be between 25 to 53 years
• The applicants living in Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad, Kolkata, Mumbai, Noida, Pune, Surat and Thane must earn a minimum salary of Rs. 40,000 per month.
• For the citizens living in Chandigarh, Cochin, Jaipur and Nagpur the minimum net salary should be Rs. 35,000.
• The loan applicants residing in Aurangabad, Baroda, Bhubaneswar, Indore, Madurai, Mysore, Nasik, Trivandrum, Vijayawada and Vizag must earn a minimum monthly salary of Rs. 30,000.

 Documents Required: The applicant needs to present the following set of documents:

Proof of Identity - Passport / Voters ID card / Driving license / PAN card

Proof of Residence - Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR / Admin sign)

Employment Proof - Employee ID card

Income Proof - Salary slips of last 2 months

Bank Statements - Salary account bank statement of the last 3 months

How to Apply-

The candidates can apply for the loan online or offline. For offline application, the candidates have to send an SMS or give a missed call.

Steps to Apply Online: It is easy to apply online. The applicant just has to follow a 4 step procedure to get the loan. The online application procedure is as follows:

• Open the online application form and fill the required details.
• Select the required loan amount and repayment tenure.
• The company representatives will collect the documents
• After collection of documents, the amount will be credited to the account.

Personal Loan Eligibility Calculator-

The candidates can even calculate the eligibility amount online using the eligibility calculator. The candidates have to place the following details in the calculator to know how much amount they are eligible to receive under the personal loan.

• Date of birth
• Current city of residence
• Company/ Name of Employer
• Net Salary
• Current Loan EMIs payable

Factors Affecting Eligibility- The factors that affect Personal loan eligibility are:

• Monthly Income
• Age
• Monthly Expenses
• Any Other Loan
• Credit History
• Job Stability
• Relationship with the Bank
• Category of Your Employer

Features and Benefits- The features and benefits of availing personal loan from Bajaj Finserv are:

• Instant online loan approval - The online application is instantly approved and the documents are collected from the house of the applicant.
• Amount disbursed within 72 hours - After approval, the loan is disbursed within 3 days and the amount is credited to the account of the applicant.
• Get loans up to Rs. 25 lakhs - The applicant can avail the loan of up to Rs. 25 lakhs as per his/her eligibility.
• Flexible loan tenure - The loan can be repaid during the tenure ranging from 24 months to 60 months.

Expand or start your own business with Bandhan bank Business loan

There are many people who wish to start up their own business or expand it further. This requires investment in the form of finance. There are many business loan products available in the market. Out of them, one product needs to be mentioned that is Bandhan bank business loan. The bank may be a newbie but the product it is offering can fulfil all the financial requirement of the people who want to elaborate their business further. Bandhan Financial Holdings Limited incorporated Bandhan Bank as a wholly-owned subsidiary on December 23, 2014. Reserve bank of India gave the in-principle approval for setting up a bank in April 2014. The final nod was given in the month of June in  2015. The main head office of the bank is located in the city of joy, Kolkata, which happens to be India’s former capital.

The business loan of Bandhan bank is known by the name ‘Samriddhi Business loan’. ‘Samriddhi stands for prosperity in English and hence the bank has given the name to this product. The bank offers a maximum amount of Rs. 25 lakhs to the customers. The tenure for the same goes up to a period of five years, which also includes a moratorium time of three months. You are required to submit your loan application to the nearest branch of the bank along with the documents. Once you complete all the required conditions and terms, the bank will disburse the loan for you. In case you live far off from the branch, still you can avail a loan from the bank. Have a proper look at this article to gain a better understanding of the business loan product offered by Bandhan bank.

Eligibility criteria-

Any applicant has to first fulfil the requirements of eligibility set by the bank. The various norms of eligibility have been given below. Check them out right now-

• Proprietors, individuals and partnership firms are eligible to apply for the loan.
• The minimum age at the time of loan application should be 23 years. The applicant must have attained the age of 23 years if he/she wishes to take funds from Bandhan bank.
• The applicant should not exceed the age of 60 years when the loan tenure expires. It means the entire loan amount should be repaid by the age of 60 years.
• The applicant should be involved in the same business for a minimum period of two years. However, new entrepreneurs who are eligible, can also apply for the product.
• Non individuals need to have a satisfactory record of two years in the same business

Documents required-

One of the most important steps in the process of loan disbursal is documentation work. The list of required documents has been given below. Don’t miss to see them-

• Completely filled application form
• Three photographs of passport size of the Individual Borrower/Directors/Partners
• Two photographs of passport size of the guarantor, in case it is needed
• Proof of Identity- PAN card/Voter ID card/Driving License/Aadhar card/Passport
• Proof of Address- Passport/Rent agreement/Telephone bill/Electricity bill
• Financial statement of the past two years
• Trade license or any other such regulatory license which is applicable to unit
• Bank statement of the past six months
• Copy of the following-  Memorandum of Association and Articles of Association along with Partnership deed or any other related documents for any partnership firm or a company
• Ownership documents of security
• For a working capital, stock statement has to be submitted every month

Interest rates and processing fees-

It is very essential to know about the interest rates before you avail a loan from the bank. Bandhan bank charges an interest rate of 10.52% in case of a business loan. The bank started linking its interest rate with its MCLR from April 2016.The bank also charges a processing fee of 1% of the sanctioned loan amount along with the applicable services tax.

Margin of the loan

Working capital- 25%

Term loan- 25%

Customer care number-

In case of any assistance, you can always call the customer care centre of Bandhan bank. The number is 033-66333333 and 1800-258-8181

So now you have known quite a lot about the product, don’t wait any more. Apply for a business loan today and start or expand your flourishing business.

Check Axis Car Loan Eligibility & Get Your Dream Car Financed

Willing to buy your own car and drive it to the place so far. Then get ready as Axis bank provides you with a chance to buy your dream car now and pay for it later. It offers car loan to the potential car buyers who due to the shortage of money drop the desire to purchase a car. But now, there is no need to do the same as Axis Bank lends the money for the timely gratification of the desire. The loan is available for the lowest amount of Rs. 1,00,000 to up to 85% on-road funding. The bank even lends up to 95% of the ex-showroom price on selected models. So, if you are aspiring to buy a car, go grab the deal. But before applying do check the Axis car loan eligibility criteria.

Axis Bank Car Loan Eligibility- The eligible candidates who can avail the benefit of car loan are as follows:

Salaried Individuals:

• Should have attained the age of 21 years while applying for a loan
• The maximum age at the time of maturity of loan should be 70 years
• An annual income of a minimum of Rs. 2,40,000 is necessary
• There should be a continuous employment for a period of at least one year

Self-employed Individuals:

• The applicant should be at least 18 years old while applying for a loan application
• The maximum age while the loan matures needs to be 75 years
• An annual income of a minimum of Rs. 1,80,000 is necessary
• A business stability of a period of at least three years is required

Self-employed Non-individuals:

• An annual income of a minimum of Rs. 1,80,000 is needed for selected car models while for others the requirement is of a minimum of Rs. 2 Lakhs
• Business stability of a period of at least three years  is needed

Priority/Wealth/Privee customers eligible for a loan:

• Customers with a vintage of 6 months

• A minimum Average Quarterly Balance (AQB) as below:
• An AQB of Rs. 1 lakh for last 2 completed quarters AQB requirement to be met for both the quarters
• Maximum loan amount restricted to 3 times the AQB in the last 2 quarters

Salary Customers eligible for a car loan-

• Customers who have a Salary A/c with Axis Bank since the past 3 months
• Those who work with the following organisations:
• Public Limited and Private Limited Companies
• MNCs
• Permanent employees of State / Central Government
• Permanent employees of Public Sector Undertakings
• Permanent employees of reputed schools / colleges
• Other factors
• Minimum 21 years of age
• Maximum 70 years of age at loan maturity
• Minimum Net Annual Salary of Rs. 2,40,000 p.a.
• Income eligibility based on latest salary slip and Form 16
• Minimum 1 year of continuous employment

Interest Rate and Processing Fee-

The interest rate of new car loan for salaried individuals is 9.15% p.a. while for others it ranges from 11% p.a. to 12% p.a. The prevalent rate of interest on the pre-owned car loan is 14.50% p.a. to 16.25% p.a. The processing fee ranges from Rs. 3,500 to Rs. 5,500.

Documents Required-

• Application Form
• Passport sized photograph
• Proof of Identity- Driving license/Voter ID card/ PAN Card/Passport/Aadhar card
• Age Proof- PAN Card/High school mark sheet/ Passport/Voter ID card/Birth certificate
• Proof of Income- Salaried Individuals: Salary Slip of the past three months, Form 16 and ITR of the past two financial years. Self-employed: Audited Balance Sheet along with Profit & Loss account and Income Tax returns of the previous three years  
• Proof of Residence- Voter ID card/Telephone Bill/Electricity Bill/Passport/Life Insurance Policy
• Signature Verification Proof- PAN card/Passport or any other document which can verify the signature of the applicant
• Bank Statement- Bank Statement of the previous six months is required
• Pro-forma Invoice or Rate List

Car Loan Eligibility Calculator-

The customer can calculate his/her eligibility using the car loan eligibility calculator. It is a device that helps in the computation of individual’s ability to borrow. The applicant just has to enter the information regarding:

• City currently living in
• Number of years in current city
• Type of residence
• Date of Birth
• Car model
• Type of employment
• Axis Bank savings account number or Customer ID

After filling the required details click on the Check Your Eligibility. The results will be displayed on the screen.

Bajaj Consumer Loan For Easy Shopping

What is consumer loan? The loan which you can secure at the last moment while buying the durable goods and products. There are chances that you go for shopping with the limited budgets and the best products that suit your choice can be little expensive than your budget. That is the time when the consumer loan will help you to get the goods of your choice. It is better to spend a little extra and get the quality products rather than settling in the quality of the products.

You require the urgent need of funds at the time when cost exceed. For the time like this Bajaj consumer loan is one of the options which can help you through the process and make the funds available as per your requirement. It is the usual shopping conundrum where you go to shop and end up buying something which is beyond the budget especially because it has got it all that you require. Consumer loan are the saviour in such situations. It provides the maximum loan up to ₹ 5 lakh.

The consumer loans are easy to get and applicant gets the quick approval on the spot. It is one of the easiest ways to avail the loan. It is the easiest way to buy the expensive home appliances or other goods for your home or yourself. It reduces the financial burden on the consumer as they are no longer entitled to pay the entire amount. It is one of the ways where you pay the easy monthly installments to the financial institution from which you availed the loan. In Bajaj Finances, you have to pay the original cost with no added interest just the original price in parts. And in few months the payment is done without the financial burden and you become the owner or possessor of that product.

Now, the in store loan facility is also available where you can avail the loan simply by following the procedure while doing the shopping as well. The dealers offer such loan at the reputed and good showrooms to make the buying and shopping experience of the customer more smooth and hassle free.

Products that comes under it- It includes almost all the durable goods like:

• Accessories – laptop bags, phone covers, tablet covers etc.
• Entertainment – Bluetooth speakers, mini music systems & headphones etc.
• Peripherals – printers, scanners etc.
• Imaging – electronic photo frames & point & shoot cameras
• Small kitchen appliances like coffee makers, food processors, etc.
• Water purifiers and water heaters
• Inverters
• Services – mobile insurance and extended warranty plans
• Phones – basic and feature phones
• Tablets – basic tablets and phablets

Fees and Charges

• Processing fee for the Panels (LED/ LCD/ Plasma) is ₹ 649.
• Processing fee for the home appliances (AC/ Microwave/ oven/ Refrigerator/ Washing Machine)  is ₹ 549.
• Processing fee for the Digital ( Tablets/ Smartphone /laptop) is ₹ 749.

Eligibility and documents required-

1. The applicant must be either a self- employed or salaried individual.

2. The age of the applicant should be minimum of 21 years and the maximum of      65 years.

3. The documents required are:

• Photo ID proof
• Residential proof
• One canceled cheque
• Credit program specific proof ( any one)
• The photocopy of front side of credit card
• Employee ID or Visiting card
• Photocopy of RC book
• Latest salary slip

How to apply?

To avail the bajaj finance loan you do not have to follow the long process. The application process is simple and easy:

• Through online application- You can visit the website of the bajaj finances and download the application form. Fill all the details correctly and submit it online.
• Through the mobile app- You can apply using the mobile app as well. You just need to download the app from the store and allow it to retrieve your details through the social media or Aadhar card. It will take a minute to verify your details and the application will be accepted. you will get the deal ID and you can show this deal ID at the partner store and buy the goods.
• Partner Outlet- You can also get the loan approval at the outlet. You have to meet the in- store representative and fill the application form. Submit the documents and all the formalities are completed while you shop for your durable products.
• The application of the consumer loan is easily available and has the minimal documentation. You can avail the bajaj consumer loan and shop tension free without worrying about the money.