SME Times is powered by   
Search News
Just in:   • Nikki Haley praises India for 'not backing down' against China  • HK chief's top aide to head security law committee  • Pause on petrol, diesel price hike for 3rd consecutive day  • 'Liquidity, asset quality risks for NBFIs remain elevated'  • S'pore airport to offer travellers contactless safe experience 
Last updated: 27 Nov, 2017  

Bajaj Finserv Offers Unique Proposition on Personal Loans

Business Wire India | 24 Nov, 2017
Bajaj Finserv through its lending arm Bajaj Finance Ltd., offers a unique proposition - Personal Line of credit to its customer that allots a specific amount that can be withdrawn and used for any financial requirements.

Personal Line of Credit is a personal loan that allows consumer to use any amount within the assigned limit and pay interest on the amount withdrawn. This is a loan where the user only pays the interest amount as EMI. Consumer opting for Line of credit pay up to 45% lower EMIs every month and tackle unpredictable expenses in a convenient manner.

Moreover, Bajaj Finserv Line of Credit through its hassle free and convenient processes, offers consumer friendly financing options with no excessive interest rate burden.

Benefits of Personal Line of Credit by Bajaj Finserv:
  • Lower instalments: Since consumer don't start paying interest charges until usage of loan amount, the instalments are likely to be of a much smaller
  • Flexibility: Line of credit allows you the flexibility to choose the amount you want to withdraw as well as the repayment tenure that ranges between 24 to 60 months
  • No collateral: Line of credit is one of the few financing avenues that require no proof of your assets or collateral against the loan amount
  • No hidden costs: You are not expected to pay any fees for the withdrawals you make. There are no limits on the numbers of times you can make withdrawals either
Another advantage of a line of credit is that one can convert it to a term loan at any point in the tenor. So, if a consumer realises halfway through the tenor that he or she may not be able to repay the principal in one go, they can convert it to a term loan pay it as monthly EMIs.

Line of credit from Bajaj Finserv also gives benefits including instant loan approval, disbursal within 72 hours, attractive interest rates, and loans up to Rs.25 lakhs.

Repayment of Principal amount

Personal Line of Credit requires the principal amount to be paid only at the end of the tenor. Consumers�have the option to either make part prepayments towards the principal amount as and when the financial situation allows to do so, or can opt for bullet repayment.

What is bullet repayment?

Bullet repayment simply means repaying the principal of your loan as a lump sum at the end of the tenor of the line of credit. For example, if you take a line of credit amounting to Rs.10 lakhs, you will have to repay this amount at the end of your tenor, which is 60 months or 5 years.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 02 Jul, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(3)
» Govt. approves subsidy for 2,221 cold storages(1)
» Social entrepreneurship unique and full of challenges: Hasina Kharbhih(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter