BUYING
Your home loan may cover only 80% of the total cost. You can take an Insta Personal Loan to cover for the remainder of the cost and for brokerage, stamp duty, and other related expenses.
RENOVATION
From time to time, we all want to redo the bedroom or buy a new couch for the living room. As children grow up, they may need a place of their own. You wouldn’t want to hold back and cut corners.
FURNISHINGS
At times, furniture, upholstery and lighting is all you need to convert your apartment into a luxury residence. 10 years ago these things were hard to find. Now, all such things are available easily and you could really splurge.
Features and benefits of our Insta Personal Loan
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All you need to know about our Insta Personal Loan
Watch this video to know everything about our Insta Personal Loan - features and benefits, fees & charges, etc.
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Pre-assigned limits
No need to complete the entire application process to know how much loan you will get.
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All you need is a valid mobile number
You can check your Insta Personal Loan offer by entering your mobile number and OTP.
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Immediate processing
Our Insta Loans work like a green channel with no documentation required* and money in your account in just 30 minutes*.
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Flexible loan tenures
Manage your loan repayment with options ranging from 6 to 87 months.
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No hidden charges
You can read our fees and charges on this page and on our loan documents. There are no hidden charges.
*Applicable for select customers.
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Still haven’t found what you’re looking for? Click on any of the links at the top of this page.
EMI Calculator
Plan your instalments better.
Eligibility criteria and documents required
Anyone can opt for our insta loans online. Your eligibility and documentation requirement depends on whether you are a new customer or have an existing relationship with us.
If you are an existing customer
Since you are an existing customer with a pre-approved offer, there are no additional eligibility criteria that apply to you. Some of our existing customers may be asked to submit additional documents, such as your income proof, KYC documents, and bank statement to get an insta loan.
Age: 21 years to 80 years*
If you are a new customer
Customers with an Insta Personal Loan offer may need to go through a CIBIL check and provide additional documents.
*Higher age limit applicable at the time of loan maturity.
How to get an Insta Personal Loan
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Fees and charges on Insta Personal Loan
| Type of fee | Applicable charges |
Rate of interest |
16% to 32% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes) |
| Documentation charges | Not applicable |
Bounce charges |
In case of default of the repayment instrument, Rs. 700/- per bounce will be levied. |
Penal interest |
Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment. |
Prepayment charges* |
Full prepayment: Part prepayment: *Foreclosure will be processed post clearance of first EMI |
Stamp duty |
Payable as per state laws and deducted upfront from loan amount. |
Mandate rejection charges |
Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered. |
Broken period interest / Pre monthly instalment interest |
It is defined as the amount of interest on the loan for the number of days which are: Broken period interest is deducted from the disbursement itself. Scenario 2 - Less than 30 days from the date of loan disbursement: Interest on the first instalment will be charged for the actual number of days. |
| Annual Maintenance Charges | Not applicable |
*Part-prepayment should be more than one EMI.
For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 0.13, 0.38, and 40.00% per annum respectively. Part-prepayment and foreclosure charges are NIL.
Understanding Insta Personal Loans
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If you are an existing customer
Our existing customers enjoy the benefits of pre-approved loan offers. These instant loan offers come with pre-assigned limits. You don’t need to complete an application to know how much instant personal loan you are going to get. You can get this information by entering your mobile number and OTP.
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If you are a new customer
We have created a service wherein anyone with a valid mobile number can check for an insta personal loan offer. These offers come with pre-assigned limits. However, we may need additional documents to complete the insta loan process.
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If you don’t see an offer
In the above cases, if you do not see an insta loan offer or need a higher loan amount than the pre-assigned limit, you have the option to go through our regular online application process that takes less than 5 minutes.
Frequently asked questions
A personal loan can be used for a wide variety of purposes. You can even use it to finance the down payment of your new house.
An Insta Personal Loan is a pre-sanctioned offer; wherein the lender has already evaluated your credit history to check your creditworthiness. You can use our Insta Personal Loan to finance your home renovation and repairs. Since the initial approval process is already done, Insta Loans are processed faster.
The eligibility criteria for home improvement loans differ from lender to lender. For our Insta Personal Loan, you do not have to check eligibility criteria since it is a pre-approved offer where we already check the creditworthiness of borrowers.
With our Insta Personal Loan, you can borrow funds up to Rs. 12,76,500.
The interest rates of a loan for home improvement vary from lender to lender. You can get a Bajaj Finance Insta Personal Loan at a competitive interest rate ranging from 16% to 32% p.a.
You can repay your Insta Personal Loan over a tenure starting from 84 months to 87 months.
You do not have to submit any collateral to get our Insta Personal Loan.
Getting an Insta Personal Loan from Bajaj Finance is simple. You only need to follow the steps below.
- Click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Go with the pre-assigned limit or choose a different loan amount.
- Choose a repayment tenure that suits you best.
- Click on ‘PROCEED’ to complete the online process.
The online process may differ depending on whether you are a new customer or have an existing relationship with us.
Since Insta Personal Loan can be used for a wide variety of expenses, you can use it for home renovation as well.
