• Copy of your Passport
  • Visa Copy
  • Your official Email ID or the Email ID of the HR
  • Bank Statements
  • Salary Certificate or salary slips
  • NRO/NRE bank statements of the last 6 Months
  • Proof of Identity, Residence, Income, and Assets
  • Recent passport-size Photographs of yourself and the guarantors 
  • Processing fee
  • Goods and Services Tax or GST
  • Verification charges
  • Charges levied for issuing duplicate statement
  • Penalty for defaults
  • Penalty for pre-payment and part payment of loan
  • In addition to these, the lenders might also levy charges for documentation, stamping, credit administration, collection, and so on. The levy and the rates of these fees and charges differ from lender to lender. However, you can check the fees and charges which are levied by the top lenders in India before you apply for a personal loan.

A personal loan is given for a stipulated time period. This period is known as the loan repayment tenure. After you have taken a loan, you are expected to pay the debt off by the end of the loan repayment tenure through EMIs. However, after availing a loan, if you decide to pay off your debt before the end of the loan repayment period, it is called pre-payment or foreclosure.

Types of Pre-Payment:

There are 2 types of pre-payment. They are full pre-payment and part pre-payment and part payment.

1. Full Pre-Payment:

If you are paying off the whole outstanding loan amount before the end of the loan repayment tenure, it is known as full pre-payment.

Advantages of full pre-payment:

  • You can avoid paying hefty interest on your loan amount.
  • If you have the money to pay off your debt completely, you might as well get rid of the debt.
  • You can avoid paying pre-payment interest as well, if you have taken the loan from a lender who does not charge an interest on pre-payment of the loan.

Disadvantages of Full Pre-Payment:

  • If your lender charges a penalty on pre-payment of the loan amount, you might have to pay a big chunk of money for pre-paying your loan.
  • Before you foreclose a loan, check the other factors related to it. Foreclosing a personal loan means that you would be paying out a huge sum of money at once. This might not always be the best option.
2. Part pre-payment:

If you are paying off a part of the outstanding loan amount before the end of the loan repayment tenure, it is known as part pre-payment.

Advantages of part pre-payment:

  • You can choose to pay off a part of your outstanding loan amount if you have some readily available money.
  • Part paying your loan will reduce the outstanding principal amount which, in turn, will reduce the effective EMI amount.
  • The overall interest that you pay will also reduce significantly.

Disadvantages of part pre-payment:

  • If you do not make the part payment soon enough, you will not be able to maximise your savings.
  • If your lender charges a fee for part payment of personal loans, you might have to spend a significant amount of money for the same.

There are a number of repayment modes which are offered by lenders. Although these modes might differ from lender to lender, the most common modes of repayment can be summed up as follows:

  1. Electronic Clearance System (ECS): The ECS or Electronic Clearance System is one of the most commonly used repayment methods. It is an electronic mode through which funds are transferred from one bank to another.
  2. Post Dated Cheques (PDCs): Post Dated Cheques, as the name suggests, are cheques which are issued by you for a future date. The lender will use these cheques on the mentioned date to deposit or encash the amount mentioned on it.
  3. National Automated Clearing House: The National Payment Corporation of India (NPCI) offers a program called NACH to all the banks and financial institutions. The NACH allows the processing of transactions in real time. This method can be used for your loan repayments.
  4. Debit mandate or standing instruction: You can give an instruction to your bank to pay off a particular amount of money to another bank or bank account at a regular interval. This is known as standing instruction or debit mandate. Your bank will be paying off the stipulated amount towards the repayment of your loan on a regular basis through this system.

A personal loan customer can avail an additional loan amount through the top-up facility over his/her existing loan. The loan amount will be subject to the terms and conditions set by the financial lender, while the interest rate may be the same as the existing loan or could be up to 1% more than the interest rate of the current loan. The tenure of the top-up loan will be subject to that of the existing personal.

Key features and benefits

  • Existing personal loan customers are eligible for the loan top-up provided that they have paid their EMIs regularly and have no pending payments.
  • Quick or instant disbursal of the top-up loan amount.
  • Minimum documentation required.
  • Zero processing fee offered by a number of lenders.
  • No collateral required.

The personal loan balance transfer facility gives customers the benefit of transferring their existing loan to another financial lender. This can be done if the other financial lender is offering a better interest rate, the tenure is a lot more flexible, they wish for a top up on their existing loan, etc.

Key features and benefits

  • Get a reduced interest rate on the existing loan amount.
  • Option to top-up the loan.
  • Avail flexible repayment options.
  • Avail benefits such as zero processing fee, waiver of last EMI benefit, etc.
  • To get better customer care service.

Why Do We Take Loans

Such situations occur in our life at that time, due to lack of money, we cannot buy or make anything. Only then we are looking for a person who can help us with some amount even in our difficult situation, At that time, we take a loan according to our need and also repay it in the shortest possible time.

Documents Required for Loans

  • Aadhar Card
  • Pan Card
  • Electric Bill
  • Bank Passbook
  • DOB proof

Our Services

Business Loan

BJFin Services Limited is a non-deposit taking NBFC providing working capital loans and business loans to SMEs across India. We give you access to capital in a completely online quick process with minimum documents and no collateral needed.

We hope to become your partner in laying a strong foundation for your businesses and helping it grow to its full potential.

Home Loan

Whether you’re planning to buy your first home, move up to something larger, or refinance your current home, we’re ready to help. We offer the competitive rates you want and the superior service you deserve. You’ll feel right at home with one of our mortgages. So we are here to help you to get your dream home with minimum of Interest.

Personal Loan

Personal loans are loans that can cover a number of personal expenses. 

You can find personal loans through banks, credit unions, and online lenders. 

Personal loans can be secured, meaning you need collateral to borrow money, or unsecured, with no collateral needed. 

  • Personal loans can vary greatly when it comes to their interest rates, fees, amounts, and repayment terms. 

Loan Against Gold

Gold loan (also called loan against gold) is a secured loan taken by the borrower from a lender by pledging their gold articles (within a range of 18-24 carats) as collateral. The loan amount provided is a certain percentage of the gold, typically upto 80%, based on the current market value and quality of gold

Vehicle Finance


Owning a car, be it first hand or a used one, is mostly treated as a milestone in one’s life. Other than the practical usage, this is probably a sort of symbol of independence and a financial gratification. The aspiration to own a car in our country is only rising by the day. It is a not uncommon to see a car being purchased when we have some extra money available to us. Add to it, the availability of many new models in the market, makes us want to drive one of those hot wheels.

Any Other Type of Loans

If you need any other type of loan, then we fulfil that also, please contact us for more information. Fill the Given form I will reach you Under 24 hours

How It Works

How does our company process you?


Select your loan type and fill the application form, our company will contact you soon.


Provide your Easy Document to the company, then you will be honored by checking your eligibility.

Get Loan Amount

In this process, your loan amount will be provided in your account in the shortest possible time.

Get In Touch


Plot No. 19-20, Gound Floor, Satra Plaza, Shop No, 64, Palm Beach Rd, Sector 19D, Vashi, Navi Mumbai, Maharashtra 400705