As of today, India has the largest population pool of millennials globally. This generation is known to be the trendsetters, be it related to fashion or finance. A study published in 2017 indicated that by 2020, India would have 410 million millennials with an annual spending capacity of USD 330 billion.
The spiralling spending power has given a tremendous push to credit consumption, especially unsecured loans. Another report released earlier this year indicates a 134% y-o-y growth in the volume of origination in personal loans. The change in mindset has led people to look at personal loans as an easy way to access finance. With continuous improvements in technology, availing a loan has become easier than ever; and with leading lenders like Bajaj Finserv, you can avail a loan in minutes with minimal documentation.
From easy application process and instant approval to speedy disbursal, a Personal Loan offered by Bajaj Finance Limited, the lending arm of Bajaj Finserv Group is an ideal solution for all your financial needs. Here's a rundown on how this loan accounts for an overall seamless borrowing experience:
Simple eligibility criteria for easy loan qualification
The simple and basic eligibility criteria for this loan make it easy to qualify for it. Take a note of the criteria.
- You should be a residing citizen of India, aged between 23 and 55 years
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- You should be a salaried employee in an MNC or public or private sector
- You should meet the minimum salary criteria based on your city of residence
By meeting these parameters, you can get your application approved instantly.
Minimal documentation for hassle-free processing-
To advance in loan processing, you are required to present certain documents as proof of your eligibility. In addition, the collateral-free nature of the loan eliminates the need for submitting a pile of documents, which translates into an even simpler application process.
All you need is the few necessary documents to prove your eligibility.
- KYC documents such as your PAN card, Passport, and Aadhaar card
- Your employee ID card
- Last 2 months' salary slips
- Last 3 months' account statements of the bank in which your salary gets deposited
High-value sanction for fulfilling all financial needs-
Once your eligibility is proved, Bajaj Finserv approves your loan in less than 5 minutes. Once approved, you can get your funds directly in your account within the same day. This way meeting your financial obligations becomes easier.
Based on your eligibility, you can access a high-value sanction of up to Rs.25 lakh at attractive interest rates. Besides, to make repayment easy for you, Bajaj Finserv offers a flexible tenor ranging up to 60 months. Use the Bajaj Finserv personal loan calculator to ascertain EMIs that are easy on your pocket.
Pre-approved offers for faster loan processing-
To speed up your application, opt for a personal loan via your customised deal from Bajaj Finserv. This way, you get access to customized deals based on your credit and financial profile. This means you will be offered a loan that is best suited for you, which reduces the overall processing time. What's more, you can check your pre-approved loan offer in just a few seconds by simply submitting your name and number.
Availing a high-value personal loan has transformed the borrowing experience. With Bajaj Finserv - Think it. Done.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.