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

Need a ₹5000 loan urgently? A ₹5000 personal loan is one of the best solutions to acquire funds for a short-term period. From an emergency to planning a holiday for the family, a personal loan is very versatile and can be very helpful for immediate financial requirements. Read to know how to get an urgent ₹5000 personal loan online.

Purpose of a ₹5000 Personal Loan

A personal loan borrowed from a bank or NBFCs can be used for any purpose, like paying marriage expenses, planning a holiday, and paying off credit card debts, etc. There is a lot that a ₹5000 personal loan can be useful for.

  • Medical need – If there is ever a medical emergency in the family or a quick hospital bill that needs to be taken care of, a ₹5000 instant loan could prove quite useful.

  • Wedding expense – It is always advisable to be cash liquid during important family events like a wedding because you never know when an unexpected expense could arise, and a ₹5000 loan will come in very handy.

  • Purchasing gadgets – With a ₹5000 personal loan, you can easily fulfil your need for a gadget like a smartphone or add this amount to your existing savings and opt for a top model. 

  • Travel aid – A quick personal loan of ₹5000 can be very useful in booking a hotel or flight. Alternatively, if you suddenly need to travel somewhere urgently, then a ₹5000 urgent loan would be ideal as it is always suggested to keep some cash handy, just in case.

Interest Rates on a ₹5000 Personal Loan

Take a look at some of the personal loan interest rates offered by various partners on Bajaj Markets are listed below:


Range of Interest Rate

Bajaj Finance Limited

14% onwards

Axis Bank

10.49% onwards

PaySense Partners

14% onwards


14% onwards

SMFG India Credit

12% to 36%


27% onwards


14% onwards

Muthoot Finance

13.75% onwards

YES Bank

10.70% onwards


18% onwards


1.5% p.m. Onwards

IIFL Finance

18% p.a. Onwards

L&T Finance

11% p.a. Onwards

*Interest rates mentioned in the above table can vary from one lending partner to the other and are subject to change.

With Bajaj Markets, for example, you can apply for a ₹5000 loan at very low rates and opt for a flexible repayment tenure according to your financial planning. These loans can easily be availed online, with minimal documentation and for no collateral. 

Eligibility Criteria for ₹5000 Personal Loan

If you are applying for a ₹5000 personal loan, then take a look at the eligibility criteria before you start to fill out the application: 






21 years and above

Nature of Employment

Self-employed or salaried individual

Monthly Income

Rs. 15,000 and above

Minimum Work Experience

2-3 years

Credit Score

600 or higher

NTC score (For applicants new to credit scoring)

150 and above

How to Apply for ₹5000 Personal Loan?

Applying for a ₹5000 personal loan is an extremely simple and quick process. Read on below to learn how to get a ₹5000 instant loan. 

  • Visit the lending platform (bank or NBFC of your choice) and go to their ‘Personal Loan’ section. You can also do this from their mobile application.

  • Click on ‘Apply Online’ to open the application form

  • Here you will be asked for your mobile number verification. Once you enter your 10-digit mobile number, you’ll receive an OTP on that number. Enter the OTP to proceed.

  • Now, fill in your basic information in the application form. If you are an existing customer, your form would be pre-filled.

  • Enter the personal loan amount that you wish to borrow and submit the application.

After this, a representative from the respective bank or lending institute will reach out to you to take your application ahead and guide you through the process.  If you are a pre-approved customer, then there is no need to fill out the personal loan application, and you can, in fact, get the ₹5000 loan amount transferred almost instantly.

Documents Required to avail ₹5000 Personal Loan

If you are a new customer on the lending platform, then along with filling out the application form, you will also need to keep a few documents handy. These documents help complete your verification and prepare the offer for a ₹5000 loan.

  • Proof of identity like PAN card, Aadhaar card etc.

  • Address proof like Passport, Electricity bill, Ration card etc.

  • Salary slips of the last 3 months (for salaried individuals)

  • Bank account statement of the last 6 months

  • 2 passport-sized photographs of the applicant

Frequently Asked Questions

It is important to have all the documents in place in order to apply for a personal loan.

For a ₹5000 instant personal loan, you need to have a credit score that is at least 650 or higher.

A loan applicant must earn a minimum of ₹15000 or more every month to be applicable according to the personal loan eligibility criteria.

Yes, you can easily get a ₹5000 personal loan without any collateral.

Different lenders offer different interest rates, repayment tenure, loan features, etc., and it is best to approach multiple lenders and do your due diligence to understand which lender would meet your needs the best.

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