Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

A Personal Loan is an unsecured form of credit that one can avail to meet any financial requirement. Unlike the other forms of credit, it has simpler eligibility criteria and comes with special offers and competitive interest rates. The unrestricted end-use makes it a convenient option for immediate expenses. Whether funding your next foreign trip, renovating your home, or meeting unforeseen medical expenses, an instant Personal Loan can be your ultimate respite. Those who need loans in this day and age can easily apply online at Bajaj Markets and can get best Personal Loan offers in India.

Personal Loan Details

Interest Rate

10.49% p.a. onwards

Processing Fee

Between 0.5% and 2.50% of the loan amount

Loan Amount Range

Up to ₹50 Lakhs

Loan tenure

1 to 5 years

Prepayment Charges

2-3% of the outstanding loan amount

Late Payment Charges

2% of the due amount

*The interest rates and associated charges can vary from one lending partner to the other and are subject to policy changes of the partner.


At Bajaj Markets, we connect you with the best lending partners for Personal Loans across India. You can compare and pick from the best lenders based on your convenience and apply for an instant loan on terms that you deem to be favourable.


Our Personal Loan Partners

Compare personal loan interest rates of some of the leading Indian lenders right away. Their borrowing rates are as follows:

Our Partners

Interest Rate Range

Bajaj Finance Limited

13.5% Onwards

Axis Bank

10.49% Onwards

PaySense Partners

14% Onwards


14% Onwards


30% Onwards


15% Onwards

SBFC Finance Private Ltd

14% Onwards

Fullerton India

12% Onwards

Muthoot Finance

14.50% Onwards

Prefr Partners

21% Onwards

YES Bank

10.99% Onwards


24% Onwards


16.50% Onwards


21% Onwards

*The interest rate charges are subject to constant change as they are affected by several factors. Please check the prevailing interest rate with your lender before applying.

Features and Benefits of Personal Loan

Some of the distinguishing features and benefits associated with an instant personal loan are as follows:


  • High Loan Amount: You can avail an online personal loan of up to ₹50 Lakhs. Note that the personal loan amount that you are eligible for will depend on factors such as your monthly income, CIBIL score, and overall repayment capability.

  • Attractive Interest Rate: You can get a personal loan at an interest rate starting from 10.49% per annum on Bajaj Markets, which is one of the most competitive interest rates out there.

  • No End-Use Restriction: You can use a personal loan for basically anything, from funding a vacation to paying for marriage or turning your living room into your cinema hall. You can also use the loan amount to pay those unforeseen medical bills immediately.

  • Online Process: You can apply for a personal loan from the comfort of your home through Bajaj Markets itself. All you must do is follow a few basic steps and once your loan amount is approved, it will be credited to your account within hours.

  • No Collateral Required: You do not need to offer any of your valued possessions as collateral to get a personal loan from us. However, if you do need a bigger amount, you can always opt for a Loan Against Property.

  • Flexible Loan Repayment tenure: You can repay your personal loan over as long as 5 years so that you do not feel the burden of high EMI payments.

  • Minimal Foreclosure Charges: If you want to repay your personal loan ahead of the repayment tenure, you can do so for a very minimal charge.

  • Balance Top-up Facilities: If you need more money than what you borrowed initially as a personal loan, you can always avail a balance top-up facility. Note that such facilities are exclusive to lenders and are provided at their discretion.

Where Can a Personal Loan be Used

  • Wedding: With the help of a marriage loan, you can take care of the seemingly endless list of expenses that one has to incur during weddings. Or, you can also go about the process of planning post-marriage trips with ease, knowing that you have enough money to take care of a majority of expenses.

  • Travel: You can fulfil your desire of travelling to that dream destination with the help of a travel loan. You should easily be able to manage the expenses, such as the likes of flight tickets and hotel bookings, among others.

  • Home Renovation: If you are someone who has been trying to give your home a makeover, an instant personal loan can help you do just that. Courtesy of the money that you avail of as a personal loan, you will be able to manage the necessary expenses connected to home renovation and repair. What is more, you can repay it over a flexible tenure of your choice.

  • Higher Education: A personal loan can also be used to pay for higher education. Personal loans are generally taken to meet expenses such as course fees, travel-related expenses, and lodging/accomodation charges, among others.

  • Medical Exigency: A medical emergency can lead to financial trouble. Such emergencies can also force you to ask for assistance from your family and friends. To deal with any such kind of emergency, you can apply for a personal loan for medical emergencies.

  • Buying Expensive Gadgets: Consumer durable loans, which is yet another type of personal loan, will provide you the funds to purchase the gadgets you desire. You can use a consumer durable loan to purchase that TV you have always wanted, that mobile phone that you have had your eyes on or even that speaker system that will turn your home into a happening party area.

You can also learn more about other types of personal loans on Bajaj Markets.

Personal Loan Eligibility Criteria

Banks and financial institutions have laid out their own variation of personal loan eligibility criteria that every individual who needs a personal loan must meet. Generally speaking, to get an instant personal loan online, you will need to satisfy the following eligibility criteria:


Eligibility Criteria




Nature of Employment

Salaried Individual working with a public/private firm or Self-Employed


21 years and above

Minimum Net Monthly Income


Minimum Work Experience

2-3 years

Credit Score

600 or above

NTC Score (If the applicant is new to credit)

Above 150

Personal Loan EMI Calculator

A personal loan EMI calculator is an algorithm-based tool that can help you instantly compute your personal loan EMI amount. All you must do is feed in your loan amount, expected interest rate, and preferred repayment tenure. Within seconds, the online tool will show you your overall EMI outflow. An online personal loan calculator can also help you compare loan options by simply altering the numbers you fed into the tool originally. This way, you will be able to decide which personal loan option suits you best.

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

Documents Required for Personal Loan

You will need the following documents to get a personal loan through a lending partner of Bajaj Markets:

Document Requirement


Identity Proof

PAN/Aadhaar card, Voter’s ID, passport, driving licence

Proof of Residence

Voter’s ID, Aadhaar card, passport, driving license, electricity bill, telephone bill

Income Proof

Bank statement or salary slips for the last 3 months


2 passport-size photographs

How To Apply for Personal Loan Online

An applicant first needs to make sure he/she meets the basic eligibility criteria to get the desired loan amount, and this must be followed by the detailed steps to apply for a personal loan online.


  • Step 1: Fill up the application form online with your personal and professional details.

  • Step 2: Choose the loan amount you desire from the lending partner (subject to eligibility) and add a suitable loan tenure to get instant approval.

  • Step 3: Provide all the required documents along with the application form for verification.

  • Step 4: Once your loan is approved, the amount will get disbursed in your bank account within 24 hours.

FAQs on Personal Loan

What is a personal loan?

A personal loan is a type of unsecured loan that you can take from any formal Indian lending institution. You can use the money secured for anything that you desire as there’s no end-usage restriction on the same.

How does a personal loan work?

You submit an application form online on Bajaj Markets for a personal loan. After your application goes through, the money gets credited into your bank account. Then you repay your personal loan every month through equated monthly instalments (EMIs) over a stipulated time period.

Am I eligible for a personal loan?

If you are a working Indian national above 21 years of age with a CIBIL score of 600 or above, you should easily get a personal loan through Bajaj Markets.

What is the maximum personal loan amount?

You can avail a personal loan amount of up to ₹50 lakh through Bajaj Markets. However, the maximum personal loan amount you can avail will depend on your eligibility.

Where can I opt for a personal loan?

You can get a personal loan through Bajaj Markets itself by following a handful of simple steps. Just select your lender, your loan amount, loan repayment tenure, and fill up the application form and submit the required documents. Once your application is approved, your personal loan amount will be credited into your bank account within a day.

What is the tenure of a personal loan?

The repayment tenure of a personal loan can be up to 5 years. It will depend on your lender, your principal amount, and your repayment capability.

How to avoid the rejection of a personal loan application?

To avoid the rejection of your personal loan application, make sure you fill in all the details correctly and submit the required documents. You must also ensure that your CIBIL score is adequate.

What is personal loan prepayment and how does it help with repaying?

When you pay a portion or the entire outstanding personal loan amount before the end of the repayment tenure, it is called a prepayment. Such an act can help you save up on the interest payable, reduce your EMI amount, or even repay your outstanding personal loan early.

Do personal loans offer tax exemptions?

No. You cannot avail tax benefits for paying personal loan EMIs.

What happens if a personal loan is not paid?

If a Personal Loan is not paid, you will be charged a penalty fee. If you do not pay your EMI for over 30 days, it will be considered to be a case of minor default. If you do not repay the same over 90 days, it will be considered to be a major default. Any kind of default, be it big or small, can reduce your CIBIL score significantly and hamper your chances of getting a personal loan in the future.

Latest Personal Loan News

Unsecured lending picking up amidst falling delinquencies

Unsecured Personal Loans from semi-urban and rural areas are increasing in demand at financial institutions. Notably, outstanding debts in these financing are regarded to be low, providing reassurance to borrowers.


Borrowers asking for Personal Loans climbed by 141% in the three months concluding May 2022, contrasted to a 93% rise in the three months ending March 2022, according to Transunion CIBIL statistics.


Personal Loan establishments surged 125% year on year in the March 2022 quarterly, while credit card outstanding surged 59% and Consumer Durable Loans increased 21%. The latest RBI data shows that the banking sector's portfolio of unsecured loans was at ₹9.16 Lakh Crore at the end of May.

- Jul 25, 2022