Bajaj Finance Personal Loan Offers Tenures From 12 to 108 Months: What Borrowers Should Consider

NewsVoir
Pune (Maharashtra) [India], September 28: The Bajaj Finance Personal Loan offers repayment tenures ranging from 12 to 108 months for loan amounts between Rs. 40,000 and Rs. 55 lakh. The applicable interest rate ranges from 10% to 30.5% per annum.
The selected tenure can affect the monthly EMI and total interest payable. Borrowers can use a personal loan EMI calculator to compare repayment periods before deciding on a loan structure.
How does personal loan tenure affect monthly EMI?
Loan tenure determines the period over which the borrowed amount is repaid. A longer tenure spreads the repayment across more months, which can reduce the monthly EMI.
However, a longer repayment period can increase the total interest payable because interest may be charged over a greater number of months. A shorter tenure can result in a higher monthly EMI but may reduce the overall interest cost.
Borrowers should therefore assess both the monthly EMI and total repayment rather than considering the EMI alone.
What is the available repayment tenure?
The Bajaj Finance Personal Loan provides repayment tenures from 12 months to 108 months. The available period gives borrowers different options for structuring repayments based on the loan amount and applicable terms.
The selected tenure should be considered alongside the applicable interest rate and loan amount. These factors work together to determine the monthly repayment and overall borrowing cost.
Borrowers with higher existing financial commitments may need to assess whether the monthly EMI can be maintained throughout the selected tenure.
How does loan amount affect the choice of tenure?
The loan amount also influences the repayment obligation. Bajaj Finance Personal Loan amounts range from Rs. 40,000 to Rs. 55 lakh.
For the same interest rate, a higher loan amount generally results in a higher EMI. Selecting a longer tenure can spread this repayment across more months, although it may increase the total interest payable.
Borrowers should first assess the amount required and then compare different tenure options. Borrowing more than the required amount can increase the overall repayment commitment.
How can a personal loan EMI calculator help?
A personal loan EMI calculator can provide an estimated monthly instalment based on the loan amount, interest rate, and tenure entered.
Borrowers can change the tenure while keeping the loan amount and interest rate unchanged. This can show how a shorter or longer repayment period may affect the estimated EMI.
The calculator can also help compare the estimated total repayment across different scenarios. The result is an estimate and does not represent the final loan obligation.
What should borrowers consider before selecting a tenure?
Tenure should be assessed against the borrower's repayment capacity and overall borrowing cost. A lower EMI may provide more room in the monthly budget, but a longer tenure can increase the total interest payable.
Borrowers should consider:
- Monthly income and existing financial commitments
- Required loan amount
- Applicable interest rate
- Estimated monthly EMI
- Total repayment over the selected tenure
- Applicable charges
- Part-prepayment terms
- Loan terms stated in the offer and related documents 
The personal loan interest rate for Bajaj Finance Personal Loan ranges from 10% to 30.5% per annum. The final rate offered to an applicant remains subject to the lender's assessment, eligibility and applicable terms.
The personal loan interest rate for Bajaj Finance Personal Loan ranges from 10% to 30.5% per annum. The final rate offered to an applicant remains subject to the lender's assessment, eligibility and applicable terms.
What are the eligibility requirements?
The eligibility criteria for a Bajaj Finance Personal Loan include the following:

*Customer should be 80 years or younger, at the end of the loan tenure.
Meeting these criteria does not guarantee approval. The final loan offer remains subject to eligibility assessment, document verification and applicable terms.
How can customers apply for the personal loan?
Customers can begin the application process online through the Bajaj Finance website. The process generally includes the following steps:
1. Check loan eligibility – Customers can visit the personal loan page on the Bajaj Finance website, enter the loan amount needed, select the repayment period, and click on "CHECK LOAN OFFER" to check loan eligibility.
2. Enter personal details – Customers need to provide personal, financial, and employment details to receive a personalised loan offer.
3. Review loan offer – Customers can check their offer details and adjust the loan amount or repayment tenure, if required.
4. Complete KYC verification – The loan applicant can verify their identity and bank details to proceed with their application.
4. Speak to a loan specialist – Once the loan application is submitted, an executive will contact the applicant with the next steps.
The application remains subject to eligibility and successful verification. The stated disbursal timeline is within 24 hours*, subject to successful document verification and applicable terms. The timeline should not be treated as a guaranteed disbursal period.
Bajaj Finance Personal Loan tenure can affect overall repayment
The Bajaj Finance Personal Loan offers repayment tenures from 12 to 108 months. The selected period can affect both the monthly EMI and the total interest payable.
A longer tenure may reduce the monthly repayment but can increase the overall interest cost. A shorter tenure may increase the EMI while potentially reducing the total interest payable.
Borrowers should compare the loan amount, applicable interest rate, tenure, EMI and total repayment before accepting a loan offer. The personal loan EMI calculator can support this comparison by providing estimated repayment figures.
*Terms and conditions apply.
*Disbursal within 24 hours is subject to successful document verification and applicable terms.
About Bajaj Finance Ltd.
Bajaj Finance Ltd. (BFL), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL serves over 124.43 million customers through a diversified portfolio comprising consumer loans, SME finance, commercial lending, rural lending, fixed deposits and payments, offered through Web, App and at 4,000+ locations. As a FinAI company, BFL is focused on continuous innovation through smart use of technology, data and analytics to drive seamless, simplified and personalized experiences for its customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BBB/Stable and a short-term rating of A-2 by S&P Global ratings. It has been assigned a ‘Baa3 Corporate Family Rating’ with Stable outlook from Moody’s Rating.
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