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Bajaj Finance Limited

Bajaj Finance Limited emerged from its parent company Bajaj Auto Limited as an autonomous organization to offer financial services. The organization was established in the year 2007 in order to enable it to operate independently and cater for its mainline business of lending, insurance, asset management, wealth management and insurance.

Bajaj Finserv, is thoughtful of its client and operates with a sole aim of “Go for great”. The bank offers various products including finance, insurance and investment services.

Finance

Bajaj Finance is the most profitable and largest financier of various consumer durable s across the country. Bajaj Finance Limited offers and lends finance to a wide range of consumers from all walks of life.

Insurance

Bajaj Finserv Limited has its rich presence in insurance sector through a joint venture with Allianz SE, Germany, and formed Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited.

Investment

Bajaj Finserv wealth advisory service, furnishes an efficient and remote future financial planning for customers in order to enable them to take a sound decision on the investments and savings of the customer.

Various products and services provided by the bank include

Consumer Finance SME Finance Commercial Lending Investment
• Durable Finance • E-commerce seller finance • Infrastructure Finance • Fixed Deposit
• Lifestyle Finance • Self-Employed Home Loan • Vendor Finance • Mutual Funds
• Digital Product Finance • Self-Employed Loan against Property
• EMI Card • Gold Loan
• Salaried Personal Loan • Lease rental discounting
• Loan against FD • Business Loan
• Gold Loan • Loan Against Shares
• Professional Loan • Professional Loan
• Salaried Home Loan

Bajaj Finance Limited caters to the needs of all types of customers from salaried, to self employed, professional and to business oriented customers and ensure that it delivers what it promises through its investment in right technology, processes and people simplifying the life of customers.

Letzbank.com customers can also choose to avail Personal Loans, Business Loans, Professional Loans, Loan Against Securities from Bajaj Finance Limited.

Eligible Profiles & Products

Eligible Profile Products
Salaried Personal Loan
Home Loan
Self Employed Home Loan
Business Loan
Firms and companies Home Loan
Business Loan

Eligibility and Documents for Salaried

Products Documents list Eligibility criteria and locations
Personal Loan
  1. Passport / PAN Card / Driving license / Photo credit card (front only) / Banker verification letter ( Only online)
  2. Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR /Admin sign)
  3. Passport / Voters ID card / Driving license / PAN card
  4. Appointment letter / Form 16 / Promotion letters/ transfer / confirmation letters / previous salary slip of previous employer
  5. Appointment letter / Form 16 / 1 year old salary slip of current employer
  6. Employee ID card and visiting card
  7. Latest 3 months salary account bank statement
  8. Salary slips of last 3 months Latest 2 months salary slip

In the following cities, you must be drawing a monthly net salary of Rs. 40,000 or more
Delhi/NCR, Mumbai, Hyderabad, Bangalore, Chennai and Thane
Or
In the following cities, you must be drawing a monthly net salary of Rs. 35,000 or more
Ahmedabad, Pune, Kolkata Aurangabad, Baroda, Chandigarh, Cochin, Coimbatore, Gandhinagar, Ludhiana, Madurai, Mandi, Gobindgarh, Indore, Jaipur, Jalandhar, Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Khanna, Kolhapur, Kota, Ludhiana, Madurai, Mangalore, Mohali, Mysore, Nagpur, Nasik, Panchkula, Panipat, Patna, Rajkot, Ranchi, Trichi, Trivandrum, Vijayawada and Yamunanagar

Home Loan
  1. Passport / PAN Card / Driving license / Photo credit card (front only) / Banker verification letter ( Only online)
  2. Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR /Admin sign)
  3. Passport / Voters ID card / Driving license / PAN card
  4. Appointment letter / Form 16 / Promotion letters/ transfer / confirmation letters / previous salary slip of previous employer
  5. Appointment letter / Form 16 / 1 year old salary slip of current employer
  6. Employee ID card and visiting card
  7. Latest 3 months salary account bank statement
  8. Salary slips of last 3 months Latest 2 months salary slip

In the following cities, you must be drawing a monthly net salary of Rs. 80,000 or more
Delhi/NCR and Mumbai
Or
In the following cities, you must be drawing a monthly net salary of Rs. 60,000 or more
Bangalore and Chennai
Or
In the following cities, you must be drawing a monthly net salary of Rs. 45,000 or more
Hyderabad, Pune, Ahmedabad and Kolkata
Or
In the following cities, you must be drawing a monthly net salary of Rs. 40,000 or more
Aurangabad, Coimbatore, Jaipur, Surat, Baroda, Nasik

  1. Passport / PAN Card / Driving license / Photo credit card (front only) / Banker verification letter ( Only online)
  2. Passport / Driving license / Ration card / Latest mobile bill / Letter from employer (with HR /Admin sign)
  3. Passport / Voters ID card / Driving license / PAN card
  4. Appointment letter / Form 16 / Promotion letters/ transfer / confirmation letters / previous salary slip of previous employer
  5. Appointment letter / Form 16 / 1 year old salary slip of current employer
  6. Employee ID card and visiting card
  7. Latest 3 months salary account bank statement
  8. Salary slips of last 3 months Latest 2 months salary slip

You are an Indian Resident
You are at least 25 years of age when the loan is sanctioned
You are a salaried professional with a regular source of income
The minimum value of your securities should be Rs. 25 Lacs.
You may avail a Loan Against Shares if you are residing in any of the below-mentioned 17 cities across India ::
Ahmedabad, Bangalore, Chennai, Cochin, Delhi, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Ludhiana, Mumbai, Nagpur, Pune, Rajkot, Surat and Vizag

Fees and Charges for Salaried

Products Fees and Charges
Personal Loan EMI Bounce charges – Rs.1000/- per bounce
Penal Interest – 2% pa
Processing fee – 2 to 3% of the loan amount
Home Loan EMI Bounce charges – Rs.1000/- per bounce
Penal Interest – 2% pa
Processing fee – 0.8% of the loan amount
Secure Fees – Rs.2000/-
EMI Bounce charges – Rs.1000/- per bounce
Penal Interest – 2% pa
Processing fee –0.25 to 1% of the loan amount
Secure Fees – Rs.2000/-

FAQs for Salaried

What does EMI stand for?
EMI stands for Equated Monthly Installment. This instalment consists of both the principal and interest components.
Can I foreclose my Loan with Bajaj Finance? What are the foreclosure charges in Bajaj Finance?
You can choose to foreclose your loan anytime you want after the payment of your first EMI. Bajaj Finance doesn’t charge foreclosure charges.
Can I make part payments on my loan with Bajaj Finance?
There is a Part-Prepayment facility. With this, you can part prepay as much as you want for up to 6 times in a calendar year, post the clearance of your first EMI.
What are the minimum and maximum loan amounts in Salaried Personal Loans in Bajaj Finance?
with Bajaj Finance you may choose any loan amount ranging from Rs.1 Lac to Rs. 25 Lacs. The final sanction will depend on your income and various other criteria.
What are the tenor options available?
You can choose a tenor ranging from 12 to 60 months depending on your preference and the loan sanctioning conditions.

Eligibility and Documents for Self Employed

Products Documents list Eligibility criteria and locations
  1. Latest 3 months salary account bank statement

You are an Indian Resident
You are at least 25 years of age when the loan is sanctioned
You are a self-employed professional with a regular source of income
The minimum value of your securities should be Rs. 25 Lacs.
You may avail a Loan Against Shares if you are residing in any of the below-mentioned 17 cities across India ::
Ahmedabad, Bangalore, Chennai, Cochin, Delhi, Hyderabad, Indore, Jaipur, Kolkata, Lucknow, Ludhiana, Mumbai, Nagpur, Pune, Rajkot, Surat and Vizag

Business Loan
  1. Passport / Voters ID card / Driving license / PAN card

Limited or Private Limited CompanyPartnership or Proprietorship FirmChartered Accountant / Self Employed Professional
You can also avail our Doctor Loan exclusively with Bajaj Finserv, if you are any one of the following:
Individual Practicing DoctorConsulting DoctorSalaried Doctor

Fees and Charges for Self Employed

Products Fees and Charges
Business Loan EMI Bounce charges – Rs.1000/- per bounce
Penal Interest – 2% pa