Pre-approved Personal Loan

You can get a pre-approved personal loan of up to ₹50 Lakhs on Bajaj Markets at competitive interest rates starting from 9.99% per annum. The loan comes with a convenient repayment period of up to 96 months.

*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

Here are the eligibility criteria you need to meet:

• You must have a good credit score, i.e. 700 to 750 and above

• You must have an existing relationship with a lender
  

 

Upon meeting the required eligibility terms, you must submit the following documents:

• Identity Proof

  • Aadhaar card

  • Voter ID

  • PAN card

  • Passport

• Address Proof

  • Aadhaar card

  • Passport

  • Driving licence

  • Utility bills

  • Rent agreement

Note: The lender may not ask for proof of income if your loan is pre-approved.

To enhance your experience while checking pre-approved personal loan offers, here are additional steps that can prove helpful:

Check Your Internet Banking Account

If you have an active account with the lender, log into your internet banking portal. If you have any pre-approved offers, they will be instantly displayed here. This option is both secure and quick.

Use the Mobile Banking App

Financial institutions often update loan offers on their mobile apps, and notifications may pop up when you log in. Apps also provide real-time updates and loan tracking, making it convenient to manage your finances on the go.

Look for Offers on Your Credit Report

When you apply for a customised credit health report (CHR) on Bajaj Markets, some offers may be listed in the report. You can gain access to this report without paying any additional charges through the Bajaj Markets App. This helps you find loan options for which you may be eligible.

Opt for Lender Notifications

When you open an account, agree to receive regular notifications from the lender. This ensures you are the first to know when a pre-approved offer is available. Check your email and SMS regularly for personalised offers.

Once you receive a pre-approved loan offer, here is what typically happens next:

Offer Review

The lender provides you with the loan details. This includes the loan amount, interest rate, repayment tenure, and any associated fees. You should carefully review these terms to ensure they meet your financial needs.

Documentation Requirement

Even though the offer is pre-approved, lenders might still request some basic documentation for verification, such as proof of identity, income proof, and address verification. However, this process is usually faster and requires fewer documents compared to a regular loan application.

Loan Application Submission

You will need to formally accept the pre-approved offer, which can often be done digitally through a few clicks online. Once accepted, the lender initiates the loan disbursement process.

Loan Verification Process

After submission, the lender conducts a quick verification of your documents and personal details. This process is typically faster than usual because the pre-approved status already indicates that you meet the primary eligibility criteria.

Loan Disbursement

Upon successful verification, the loan amount is disbursed directly into your bank account. Pre-approved loans typically have faster disbursal timelines, sometimes within hours or on the same day.

Loan Agreement Finalisation

You may be required to sign a loan agreement, either digitally or in person, depending on the lender’s process. This agreement will formalise the loan terms and repayment conditions.

Repayment Begins

Once the loan is disbursed, your repayment schedule starts. You will be required to begin repaying the loan through monthly EMIs based on the terms agreed upon.

Beyond the basic benefits, here are some additional advantages that make pre-approved loans a smart choice:

Offers Based on Your Spending Habits

Some pre-approved loans are customised based on your spending patterns, offering you a loan amount that is realistic and well-suited to your lifestyle. This ensures you borrow what you can manage easily.

Tailored Offers for Special Occasions

Lenders often offer special pre-approved deals during festive seasons or significant life events like weddings or holidays. These offers may come with benefits like zero processing fees or exclusive interest rates.

Minimal Documentation

Since the lender already has most of your financial and personal details from previous interactions or through credit score checks, you typically require minimal documents. This simplifies the process, making it faster and more convenient, leading to quicker loan disbursal.

No Impact on Your Credit Score

Checking a pre-approved offer doesn't affect your credit score, as it's based on a soft inquiry. This allows you to explore your options without worrying about damaging your credit score.

Pre-approved Top-up Loans

If you already have an existing loan, some lenders may offer top-up loans as part of their pre-approved offers. This can be beneficial if you need additional funds without going through another application process.

Improves Your Financial Standing

Lenders offering pre-approved loans to you is a sign of your good financial health. This means you're in a better position to negotiate or obtain other financial products, like premium credit cards or home loans.

Exclusive Benefits for Loyal Customers

If you're a loyal customer, you may receive exclusive offers. These may include discounted rates, flexible EMIs, and pre-approved loan limits that are not offered to new borrowers.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.