Bajaj Finserv, through its lending arm Bajaj Finance Limited, has announced pre-approved loans that can be availed of digitally. With it, customers can borrow money online through a paperless process and address both planned and urgent expenses stress-free.

This facility also eliminates the need to fill an offline or online loan application form. Existing customers of Bajaj Finserv need only to check their pre-approved loan offer and authorise online disbursal, it said in a press release. To access pre-approved funding, customers must meet the minimum criteria:

• Applicants must be citizens of India and be between 20 and 60 years of age

• Have a steady income

• Must meet the city-specific income requirement

• Have a CIBIL score of 750 or higher

Applicants new to Bajaj Finserv are required to upload their basic documentation to get the funds they need.

How to avail of a pre-approved loan

• Visit the application form on the Bajaj Finserv website

• Log in by entering the OTP sent to the user’s phone number

• Check the pre-approved loan offer set aside

• Verify loan details and pick a suitable tenor

• Check the entered details and complete the online process

• Customers can borrow funds up to Rs. 25 lakh. This amount is based on the borrower’s financial and credit profile.

• Customers can have the entire pre-approved loan disbursed to their accounts within 24 hours.

• Customers can repay their Bajaj Finserv Personal Loan over a tenor of up to 60 months. The pre-approved loan has no hidden costs.