How to Apply for a Personal Loan for Salaried Engineers in 3 Simple Steps

As a salaried engineer with an established career, you may want to prioritise tackling debt that you have accumulated, be it for your education or through credit cards. Or, maybe shift your focus to other personal goals like renovating your house or going on an international vacation. An excellent way of obtaining finances to achieve these goals is through a tailor-made personal loan for engineers.

One outstanding engineer loan in the market is Bajaj Finserv’s Personal Loan for Salaried Engineers. Here you get finance up to Rs.25 lakh at affordable engineer loan interest rates, without the need to pledge any collateral. The loan approval is speedy as well. Your application is processed within 24 hours, thus making it possible for you to meet pressing financial obligations like a medical emergency in a timely manner. Repayment is easy too, as you can choose a tenor spanning 12 to 72 months. Best of all, you can get an engineer loan in a few quick steps. Here’s how.

Match the eligibility criteria

Financiers generally require that you meet 3 criteria before deeming you eligible for a loan. You should fall in within the specified age bracket, be working at a company, and have the required minimum work experience.If you are a salaried engineer seeking an Engineer Loan from Bajaj Finserv, you must be between 25 and 59 years of age with a minimum of 3 years of work experience.

Gather the necessary documents

After verifying that you meet your lender’s eligibility criteria, proceed to support your application with the necessary documents. The documents you need to produce normally fall into 3 classes. These are KYC documents comprising ID proof and address proof, income documents like salary slips and bank statements, and documents proving your professional qualification.

When applying for an Engineer Loan from Bajaj Finserv, you need to submit the following.

●       KYC documents like an Aadhaar card/PAN card and passport size photograph

●       Qualification certificate such as your B.Tech or M.Tech degree certificate

●       Income documents including 3 months’ bank statements and 3 months’ salary slips

Apply online or offline

The first way of filing an application is by visiting your financier’s branch in person. This can be a convenient solution, but only if your lender’s branch is in the vicinity. To apply with Bajaj Finserv offline you can either choose this option, or simply or SMS ‘ER’ to 9773633633.

Keeping your busy schedule in mind, you can apply for a Bajaj Finserv Engineer Loan onlines while you’re on the way to a site visit or when you’re taking a break from coding. Thereafter, wait for a representative to get back to you with an offer. Submit the necessary documents, receive approval within 24 hours and the amount in your bank account shortly after! In fact, if you wish to expedite the process you can check your pre-approved offer and use it to apply hassle-free and get instant online approval.