Now that you have decided to avail a personal loan, it would not be wrong to say that finding an ideal lender is surely your next priority, right? And, as far as finding the best lender is concerned, it is quite obvious to get confused as there are many reputed lenders are there. Thus, in order to help you out in this situation, we are here. All you need to do is just go through the article below…
Bajaj Finserv Personal Loan: An Intro
Have you heard about Bajaj Finserv personal loan online? Well, if not, this is the time you need to know about the same. This renowned lender with its best of products and services allows you to enjoy a hassle-free journey. This unsecured credit facility is available at an interest rate of 10.99%-16% per annum for a tenure of up to 5 years. However, the loan amount being offered by the bank goes up to Rs.30 Lakh along with paying a one-time, non-refundable fee of 2% of the loan amount. Well, these are the few basic details that you need to know before saying yes to a lender.
But one thing that needs to be mentioned here is the fact that there are other vital factors as well that play a significant role in the overall loan journey. Yes, there are factors that affect the personal loan interest rates, hence make a greater impact on your overall personal loan online journey. So, let’s just know these factors in the article below:
Income: The income of an applicant is one of the major factors that can create an impact on the interest rates. Yes, now you must be wondering how it is possible? Well, if an applicant earns a handsome monthly income, it would be easy for him/her to repay the loan easily. And, that in return allows him to bargain for the competitive rates, which helps him/her to enjoy a hassle-free journey.
Credit Score: Before offering the loan to the applicant, lenders always go through the score so as to check his/her creditworthiness. And, if an applicant is having a good score say 700 or above, it would be easy for him to grab the best personal loans deal. Thus, on maintaining a healthy score, an applicant is eligible enough to negotiate for the better interest rates. In fact, lenders prefer those applicants who are enjoying a good score.
Relationship with a Lender: On maintaining the healthy and good relations with a lender allows you to further bargain for the lowest personal loan interest rates. If you are an existing customer of a bank and have always been on the good books, this thing can work in your favour, which further helps you in enjoying the better rates.
Employer Type: Well, your Bajaj Finserv personal loan interest rates are also influenced by the category of your employer. Usually, employees working with CAT A and CAT B companies are eligible to get an online personal loan at attractive rates without any hassle.