Why Should You Apply For A Personal Loan Online With Bajaj Finserv?

A personal loan is a relief for individuals seeking a convenient financing option. The credit outstanding of this loan option increased from Rs. 25 lakh in FY21 to Rs.35 lakh in FY22. The demand for a personal loan has escalated in recent times, owing to its versatility, simple eligibility criteria, and availability of high quantum loan amounts.

To reap the numerous advantages of this credit option, borrowers can apply for personal loan online. It helps them consolidate debt, fund medical emergencies, household repairs, etc. Moreover, a personal loan from Bajaj Finserv ensures rapid disbursal, helping one deal with any urgency with utmost convenience.

Know why should you apply for a personal loan online with Bajaj Finserv

There are multiple reasons why applying for a personal loan at Bajaj Finserv proves beneficial:

Easy application: Borrowers can easily apply for a personal loan online, helping them track the entire lending process. Digital personal loan application makes the lending process convenient and transparent and saves turnaround time. Moreover, borrowers can derive all sorts of information related to the lending process, such as outstanding loan principal, repayment tenor, etc.

Quick access to loan principal: Monetary emergencies can crop up anytime in life, which might put one under immense pressure. However, availing of a personal loan from Bajaj Finserv will help borrowers access funds very quickly.

No collateral required: This is perhaps one of the notable benefits of a personal loan. Borrowers can avail of a considerable loan principal without pledging any valuable asset.

Flexi loan option: With a Flexi loan from Bajaj Finserv, borrowers can access substantial loan amounts and pay interest only on the withdrawn amount and not on the entire loan principal. Paying personal loan rates only on the amount withdrawn lowers the monthly instalments to be paid.

Flexible end-use: Borrowers can opt for a personal loan to meet any of their financial requirements. There are no restrictions on the usage of the fund. Some of the reasons it can be used for are as follows:

Debt consolidation: Availing a personal loan helps individuals clear off debts easily without undergoing a monetary burden. However, managing EMIs become tedious if borrowers are liable to repay more than one loan amount. On such occasions, borrowers can opt for a personal loan with a lower interest rate, which will help them minimise the total payable EMI amount and clear credit card payments. However, borrowers must have an idea regarding a personal loan for debt consolidation eligibility norms.

Home remodelling: A personal loan is a great way to receive financial backup during a home renovation or remodelling. Moreover, borrowers are not required to pledge their homes as collateral.

Medical emergency: It is nearly impossible to anticipate medical emergencies. There are times when the entire treatment is put to hold till the procedural cost is arranged. In such unprecedented scenarios, availing of a personal loan acts as a panacea, helping one get instant access to funds without hassles.

Fund child’s education: Higher education incurs hefty expenses on a student or their parents. One can easily tide over study-related expenditures with a personal loan without limiting their academic horizon and enhancing their future earning potential. One must also know how a personal loan helps in studying abroad.

Wedding expenses: Indian marriages are known for their grandeur and high-end budget, including apparel, set-up, ornaments, etc. However, these hefty expenses may put a family under an immense financial burden. However, with personal loans, one can easily sail through these expenses without liquidating their asset or spending their lifelong savings. Hence, borrowers should know everything about a Loan for wedding to make the borrowing worthwhile.

Know how to apply for a personal loan

Here are the steps that will help borrowers go for personal loan application:

Step 1: Click on the lender’s official website and select ‘Apply Online’

Step 2: Fill in the online application form with the necessary details

Step 3: Enter the desired loan amount and click on submit

Step 4: Await the loan approval

Once the loan gets approved, borrowers will receive the loan principal in their accounts within the stipulated time.

Furthermore, borrowers can reap the benefits of exclusive pre-approved offers extended by several financial institutions on financial products like personal loans, business loans, credit cards, etc. These offers ensure a hassle-free and streamlined application process. Intending borrowers can check the pre-approved offers by submitting their names and contact details.

To conclude, a personal loan acts as a respite for individuals needing monetary support. If borrowers require a quick influx of finance, they can apply for a personal loan online and get instant assistance.