₹5,000 Personal Loan

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:

*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: 

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