All you Need to Know about Pre-Approved Personal Loans

Pre-approved loan is the best mode for securing instant finance. Remember being pre-approved means you only have an initial approval and will still be required.2 min


Personal Loans are collateral-free loans that can be used to meet a range of financial needs. This form of loan has gained popularity mainly due to faster loan processing, flexible repayment options, and most importantly a high loan amount.

Bajaj Finserv brings you pre-approved offers on various financial products such as Personal Loans, home loans, business loans and more, which helps you simplify the loan application process. You can check out your pre-approved offer by simply sharing a few basic details. 

Read on to know more about pre-approved Personal Loans:

Availing a Pre-Approved Personal Loan

A pre-approved Personal Loan is offered by lenders to creditworthy individuals with a clean financial track record with no cases of default. Usually, a credit rating above 750 is said to be a good score. If you have been awarded a pre-approved loan, it means you have already met the eligibility criteria and have also cleared the initial approval process. So now, you are eligible for a comparatively faster loan approval.

How to Apply?

Pre-approved loan is the best mode for securing instant finance. Follow these simple steps to get a pre-approved Personal Loan offer: 

  • Select the Lender – Select lender from NBFCs and get attractive pre-approved offers to help you save more time. 

  • Fill in your Details – Type your basic personal details like name and mobile number. Make sure to fill out the correct details.

  • Check out your Pre-approved Offer – Once you have submitted the required details, your pre-approved offer is generated automatically. 

  • Avail Money – The lender will reach out to you through phone or email regarding your application. Follow the lender’s instruction for completing the remaining procedure to avail your pre-approved loan amount in your bank account. 

Remember being pre-approved means you only have an initial approval and will still be required to submit the necessary documents. In case your documents show an improved financial standing, you may also be eligible for a higher loan amount and better interest rates. 

In the meanwhile, check out other details about your Personal Loan online like eligibility criteria, interest rates applicable, loan tenor, terms and conditions, and more. 

Instant Personal Loan enables you to borrow a maximum amount up to Rs.25 lakh as loan with a convenient repayment tenor ranging from 12 to 60 months. There are no hidden charges and you can stay updated about your loan and the charges applicable on it easily. 

You can also opt for the Flexi Personal Loan facility that lets you borrow funds as per your needs and pre-pay the same when you can from a sanctioned loan amount. You can choose to pay only interest as EMI and the principal amount at the end of the tenor. This reduces your EMI by up to 45%. 

You can also make use of the online customer portal Experia that helps you keep track of your loan amount and repayment schedule on-the-go. 

Use your Personal Loan to meet a variety of needs like paying for your higher education abroad, home renovation expenses, international vacation, medical emergency and more. 


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Arwind Sharma