Bajaj Finance: Complete Guide to Loans, EMI Card & Login

Bajaj Finance: Your Complete Guide to Services, Login, and Customer Care

Executive Summary

Bajaj Finance Limited, a subsidiary of Bajaj Finserv, is one of India’s leading non-banking financial companies (NBFCs). It provides a wide array of financial products including personal loans, home loans, business loans, and the popular Insta EMI Card. This guide offers a comprehensive overview of Bajaj Finance’s key services, digital platforms, fee structures, and customer support channels. It also incorporates critical user feedback to present a balanced perspective for potential customers .

1. Introduction to Bajaj Finance

Bajaj Finance Limited is a diversified financial services company and a key subsidiary of Bajaj Finserv, which is part of the larger Bajaj Group conglomerate . Established in 2007, it holds a high credit rating (FAAA/Stable) and serves millions of customers across India .

The company targets a broad audience, including:

• Individual consumers seeking loans, insurance, and investment products.
• Business owners and SMEs in need of working capital, equipment financing, and business loans.
• A strategic focus on middle-class and low-income families, offering tailored products like fast loan approvals and competitive investment rates .

Its digital presence is robust, attracting over 24 million monthly visitors through effective SEO and a well-structured website that caters to diverse customer intents, from informational searches to direct transactions .

2. Core Loan Products and Details

Bajaj Finance offers several loan products, with personal loans being one of its most prominent offerings.

Personal Loans

Bajaj Finance provides unsecured personal loans that do not require collateral or a guarantor .

Key Features:

• Loan Amount: Ranges from ₹40,000 to ₹55 lakh, subject to eligibility .
• Interest Rates: Start at 10% per annum and can go up to 31% p.a., depending on the applicant’s profile .
• Disbursal Time: Promises disbursal within 24 hours of application approval .
• Tenure: Flexible repayment tenures from 12 to 96 months .

Eligibility Criteria:
To apply for a Bajaj Finance personal loan, you must generally meet the following criteria :

• Nationality: Indian
• Age: 21 to 80 years* (must be 80 or younger at the end of the loan tenure)
• Employment: Salaried with a public, private, or MNC company; or Self-Employed
• CIBIL Score: 650 or higher

Applicable Fees and Charges:
It is crucial to understand all associated costs beyond the interest rate .

Type of Fee	Applicable Charge
Processing Fees	Up to 3.93% of the loan amount
Pre-payment Charges	Up to 4.72% on the amount prepaid
Penal Charge (for late EMI)	Up to 36% per annum on the overdue amount
Bounce Charges	₹700 to ₹1,200 per bounce

Using the Eligibility Calculator:
Prospective borrowers can use the free Personal Loan Eligibility Calculator on the Bajaj Finserv website. By entering details like city, date of birth, monthly income, and expenses, you can get an instant estimate of the loan amount you may qualify for, which helps in financial planning .

Home Loans and Other Financial Products

Beyond personal loans, Bajaj Finance also offers:

• Home Loans: For purchasing or constructing property. You can check eligibility using a similar online calculator by providing income, age, and existing liability details .
• Loan Against Mutual Funds: Allows you to avail a loan using your mutual fund holdings as security .
• Business Loans, Gold Loans, and more.

3. The Bajaj Finserv Insta EMI Card

The Insta EMI Card is a digital card that allows you to convert purchases into easy monthly instalments (EMIs) at partner stores, both online and offline .

Key Features and Benefits :

• Wide Acceptance: Accepted at over 1.5 lakh partner stores across 4,000+ cities and on e-commerce sites like Amazon and Flipkart.
• Zero or Low Down Payment: Available on a wide range of products.
• Flexible Tenures: Repayment options from 3 to 60 months.
• Digital-Only: It is a digital card accessed via the Bajaj Finserv app; no physical card is issued.

Fees and Charges:

• Joining Fee: A one-time fee of ₹530 (inclusive of taxes) .
• Other Charges: Late payment or bounce charges may apply. The penal charge for a delayed instalment is 36% per annum .

Eligibility & Application:

• Criteria: Indian nationals aged 21-65 with a regular source of income .
• Process: A 100% digital process requiring PAN and Aadhaar details for KYC. You can apply on the website or app in a few minutes .

4. Digital Access and Account Management

Bajaj Finance provides comprehensive digital platforms for customers to manage their accounts.

Bajaj Finance Login and Customer Portal

The Customer Portal (“My Account”) is a one-stop shop for managing your financial products .

How to Log In:

1. Visit the Bajaj Finserv customer portal.
2. Enter your registered mobile number and date of birth.
3. Submit the OTP received on your mobile number to sign in .

Services Available Post-Login:

• Check details of ongoing loans and fixed deposits.
• Pay EMI or make prepayments.
• Download account statements and interest certificates.
• Update contact details (mobile number, email ID).
• Check pre-approved offers .

The Bajaj Finserv App

The app consolidates all services: applying for loans, investing in fixed deposits, managing insurance, paying bills, and accessing the Insta EMI Card . It is a central tool for managing your relationship with Bajaj Finance.

5. Customer Service and Support

Bajaj Finance Customer Care Number: The primary helpline number is +91 8698010101.
Customer Portal: For non-urgent queries, you can raise service requests through the “My Account” portal online .

Important Considerations from Customer Feedback

While Bajaj Finance offers accessible products, prospective customers should be aware of feedback from existing users. Reviews on platforms like Trustpilot highlight several recurring issues :

• Aggressive Telemarketing: Many customers report receiving excessive promotional calls, even after opting out.
• Service and Transparency Issues: Complaints include misunderstandings over terms (like down payments), unexpected charges, and difficulties in obtaining refunds.
• Recovery Practices: Some users describe aggressive follow-up for overdue payments.
• Customer Support Challenges: Reaching a responsive customer care executive can sometimes be difficult .

It is advisable to read all terms and conditions carefully, keep records of all communications, and use the official customer portal for transactions and queries to ensure clarity.

6. A Step-by-Step Guide to Key Processes

How to Apply for a Personal Loan Online

1. Check Eligibility: Use the online calculator on the Bajaj Finserv website for an estimate .
2. Begin Application: Click ‘Apply’ on the personal loan page and verify your mobile number with an OTP .
3. Fill Application: Enter basic personal, employment, and financial details.
4. Choose Product: Select the loan amount (up to your eligible limit) and your preferred tenure .
5. Submit KYC: Complete the digital KYC process as guided.
6. Get Approval: Upon submission, approval can be quick, with disbursal promised within 24 hours .

How to Pay Your EMI

• Auto-Debit (NACH): The most common method. Ensure sufficient funds are in your linked bank account by the due date.
• Customer Portal/App: Log in to “My Account” or the Bajaj Finserv app to make a manual payment .
• Other Methods: Payments can also be made via net banking, UPI, or cheque.

What to Do If You Forget Your Login Credentials

Since login is OTP-based using your registered mobile number, you typically only need to ensure you have access to that number. If your mobile number has changed, you must update it in the portal, which may require verification via your registered email or customer care .

Key Takeaways and Final Recommendations

Bajaj Finance is a major player in India’s consumer finance market, offering quick access to credit and purchase financing through digital channels. Its Insta EMI Card and fast personal loans cater to immediate financial needs.

Before applying, you should:

1. Use the online calculators to assess your eligibility and EMI burden realistically .
2. Scrutinize all fees, including processing and prepayment charges, to understand the total cost of borrowing .
3. Read the terms carefully and ask for clarification on any point that is not clear before signing.
4. Manage your account digitally through the official portal or app to maintain clear records of your transactions and communications .

By being an informed customer, you can effectively utilize the convenience offered by Bajaj Finance while navigating its services wisely.