Whether you’re a salaried professional in a top company or a government employee, Bajaj Finance offers flexible personal loans with attractive terms. Here’s everything you need to know in simple words:
✅ Basic Eligibility Criteria
- Minimum Age: 23 years
- If you’re between 23–25 years:
- Your salary must be above ₹75,000
- You must either own a home or have a home loan history in your CIBIL report
- CIBIL score must be 720+ (PL Score 650+)
- If you’re between 23–25 years:
- Maximum Age:
- 59 years at loan maturity (general)
- 62 years for govt employees (with retirement proof)
- 65 years for government professors
💰 Income Requirements
- Minimum Salary: ₹50,000 (For all Prime cities)
- Payslips: Last 3 months’ salary slips required
- Exception: No income proof needed in NIP (No Income Proof) program.
📈 CIBIL & Credit Obligations
- Minimum CIBIL Score: 685
- If CIBIL is below 685, your salary must be over ₹2 lakhs
- Credit Card Rule:
- Not considered if card dues are less than net salary
- Outstanding above ₹10 lakhs allowed only if salary is over ₹1.5 lakhs
🔄 Loan Amount & Tenure
- Maximum Loan Amount (LA): ₹50 Lakhs (including processing fees)
- If Net Take Home + Incentives ≤ ₹1.10L, loan capped at ₹20L max
- Maximum Tenure:
- Up to 96 months if salary ≥ ₹50,000
- If salary < ₹50K, tenure capped at 60 months
💡 Loan Multiplier Explained
Your loan amount is calculated using a multiplier on your salary, based on your company profile and segment:
- Super Green
- Salary > ₹50K → Multiplier = 20x
- Salary < ₹50K → Multiplier = 14x
- Green
- Salary > ₹75K → 20x
- Salary ₹50K–₹75K → 16x
🎯 Special Multiplier Kickers
- 22x Multiplier (Super Green, Salary > ₹75K, NIP/FUW Program, Listed Companies only)
- 24x Multiplier (If all below match):
- Super Green
- Salary > ₹75K
- Ever had a home loan
- Less than 2 live unsecured loans
- Listed companies only
📊 FOIR (Fixed Obligation to Income Ratio)
- Net Salary < ₹50K → FOIR = 60%
- Salary > ₹50K, No HL → FOIR = 65%
- Salary > ₹50K, with HL → FOIR = 70%
🔥 FOIR Kickers (Extra 5% relaxation if all met)
- FOIR Kicker 1:
- ABB > ₹40K AND
- Salary > ₹1L (Prime) OR > ₹75K (Green or Super Green)
- FOIR Kicker 2:
- Super Green
- Salary > ₹75K
- Ever had HL
- <2 unsecured live loans
- Listed companies only
- ABB ≥ ₹20K
🚫 FOIR kickers not applicable for MTS or SAL Govt programs
📂 Other Programs Offered
- 100% Balance Transfer (BT):
- Fully paperless using 26AS, account aggregator
- NIP (No Income Proof):
- Based on bank analysis via Perfios/Account Aggregator
- No salary slips needed
- MTS (Marginal Segment):
- Slightly riskier profiles allowed
- ABB Program:
- Partnership/Proprietorship firm employees allowed
- SAL Govt Program:
- State, Central Govt, PSU employees eligible
- DOE 2:
- Amber & Red segment allowed with caps:
- Amber → ₹20L
- Red → ₹15L
- Amber & Red segment allowed with caps:
📌 Final Notes
- Your loan eligibility depends on your salary, employer type, credit history, and segment.
- The better your credit profile and employer category, the higher multiplier and FOIR kickers you may get — which means larger loan amount and longer tenure.
📞 Thinking of applying? Make sure your documents and CIBIL are ready. Bajaj Finance offers flexible, paperless options for salaried professionals like you!
