While applying for a personal loan, eligibility is one of the most important factors that an individual must take into account. Without meeting the eligibilty criteria of a personal loan, you can not get the loan amount from any lender. Talking about personal loans, Bajaj Personal Loan is one of the most popular financial products in our county because of the affordable interest rates. Individual who are looking to opt for a personal loan wants to get the loan at lower interest rates so that he or she can pay the EMI amount easily and without any fail.
One of the methods by which you can have an estimate of your eligibility is by using the Bajaj Finserv Personal Loan Eligibility Calculator. With this amazing tool, you will be able to know the approximate amount you can get from the Bajaj Finserv. The final loan amount will depend on several factors such as your age, income, repayment capacity, credit score, etc. In this article, we will be telling you how to use this amazing tool so that you can prepare for the Bajaj Personal Loan accordingly. Keep reading to know more!
Details to use the Bajaj Personal Loan Eligibility Calculator
Like any other calculator, this tool also requires a few details to give you an output. The details that you will need are mentioned below. Have a look.
- The City in which you are living
- Date of Birth (to know the age)
- Monthly Income
- Monthly Expenses
As soon as you put these details into the calculator, you will get the desired result instantly. Among all the factors, the monthly income of an applicant plays a pretty crucial role in determining the maximum loan amount that an individual can get. Higher the monthly income will be, higher would be your Bajaj Finserv Personal Loan Amount. Let’s understand this through an example.
Suppose an applicant residing in Delhi earns INR 55,000 per month. His age is 29 years and he spends INR 25,000 per month. So, on putting these details into the calculator, the maximum loan amount will be INR 4,51,872. You need to remember that this is not the final amount. The lender will decide the final loan amount.
Other than using the Bajaj Personal Loan Eligibilty Calculator, there are a few conditons known as the eligibilty criteria that an individual needs to qualify. Without meeting the criteria fixed by Bajaj Finserv, the loan will not be sanctioned. So, it’s important for an individual to know these conditions. You can have a look at all of them below.
- Only Salaried Employees with a Public or Private Company or MNC can apply for a Bajaj Personal Loan.
- The applicant must be a resident of India.
- The minimum of the applicant must be 23 years which can be upto 55 years of age.
- The minimum salary required to opt for the personal loan depends on the city in which the applicant resides.
- For example, if an individual is living in any of the metro cities such as Bangalore, Delhi, Pune, Mumbai, Hyderabad, Chennai, Coimbatore, Ghaziabad, Noida, Thane, the minimum monthly income is INR 35,000 while it is fixed at INR 30,000 for cities like Ahmedabad, Kolkata. For individuals living in Jaipur, Chandigarh, Nagpur, Surat, Cochin, the monthly income must be INR 28,000.