Bajaj Finserv Personal Loan Review – Forbes Advisor INDIA

What is a personal loan balance transfer?

This is a facility that allows you to transfer your outstanding loan balance from one bank to another with better facilities or a lower interest rate.

Features of Bajaj Finserv Balance Transfer Personal Loan include:

An option to pay interest only for the first two years of the loan refinanced at a negotiable interest rate.

Instant approval

The company has made this process quick and you can get instant approval by requesting a balance transfer from other banks online.

If the eligibility criteria are met by the applicant, the transfer of the balance will be made immediately.

Flexi advantages

Bajaj Finserv does not charge interest on the principal but on the amount used from the loan limit. This makes it possible to control the accrued interest during the entire term of the loan.

Free and unlimited advance payments and partial withdrawals

With the hybrid flexi function, the borrower can make multiple withdrawals of the pre-authorized amount and make unlimited partial prepayments without any fees.

45% reduction in IMEs

The company claims that by opting for interest-only IMEs for the flexi loan, one can reduce the amount payable in IME by 45%.

Extension of the repayment term

After transferring a previous loan to Bajaj Finserv, one can get an extension of up to 84 months in the term of the loan.

Minimum documentation

Very few documents are required such as identity, address and proof of income to benefit from a balance transfer.


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