Who can apply for the Bajaj Finserv mobile phone loan?
Indian citizens aged 21 to 70, whether salaried or self-employed with proven income, can apply. Bajaj Finance usually requires a CIBIL credit score of 685 or above, but it also considers applicants with no credit history yet.
Approval takes each customer’s financial profile into account, so the credit limit granted can vary from person to person, even within the range of amounts the lender publishes.
Required documents
✔️ PAN card (Indian tax ID)
✔️ Aadhaar number (identity document)
✔️ Proof of bank account for instalment debits
A piece of advice for you
Before financing your phone, work out whether the instalment fits your monthly budget without squeezing other essential expenses. A good rule of thumb is to keep all your combined credit instalments under 30% of your income.
It’s worth simulating the total financed cost of the device and comparing it with the cash price: interest and extra fees can make the purchase pricier than it first appears.
If possible, set aside a reserve to pay off the loan early whenever you have spare cash, cutting the total interest paid and keeping your budget under control.
Bajaj Finserv mobile phone loan fees
Bajaj Finserv charges a processing fee of up to Rs. 1,017 and a convenience fee of up to Rs. 320 for new customers, both deducted from the first instalment or at the time of signing. On interest-bearing plans, a 4.72% fee on the outstanding balance may apply for early repayment or an advance partial payment; no-cost EMI plans don’t carry this charge.
Late payment triggers a fine of Rs. 500 per missed instalment plus a 36% annual charge on the overdue amount, so keeping instalments up to date avoids extra costs.
How to apply for the Bajaj Finserv mobile phone loan?
To apply, go to Bajaj Finserv’s official website or visit a partner store, provide your documents (PAN and Aadhaar), choose the phone you want and check the instalment amount before confirming the purchase.
Utua is not a financial institution and does not grant credit cards or loans. Our role is to analyze financial products available in the Indian market to help you make a more informed and conscious decision. Any application is made directly with the financial institution of your choice.
