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Personal Loans come in handy whenever you require funds for urgent medical emergencies, educational expenses, marriage, or home renovation. You can easily avail a  Personal Loan of ₹70,000 at a low-interest rate starting from 10.49% p.a. for an extended tenure of up to 5 years. The factors considered for granting a Personal Loan of ₹70,000 by lenders are your monthly income, credit score, job, and employer profile.

Purpose of a ₹70,000 Personal Loan

A Personal Loan is considered the most versatile type of funding; the loan amount can be used for any purpose you desire. It can be used to manage unexpected medical bills, wedding expenses, big-ticket purchases, or debt consolidation. You can easily repay your ₹70,000 Personal Loan through affordable EMIs.

Interest Rates for ₹70,000 Personal Loan


Range of Interest Rate

Bajaj Finance Limited

13.5% onwards

Axis Bank

10.49% onwards

PaySense Partners

14% onwards


14% onwards

Fullerton India

12% onwards


30% onwards


15% onwards

Muthoot Finance

14.50% onwards

YES Bank

10.99% onwards


21% onwards


24% onwards


16.50% onwards

Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

Eligibility Criteria for ₹70,000 Personal Loan

Personal Loans can be availed by anyone who meets the basic eligibility criteria set by the lender or the bank. If you fulfil all the eligibility criteria, you need to submit a set of documents in order to complete the ₹70,000 Personal Loan application process. The major eligibility criteria are:-

  • The nationality of the applicant should be Indian.

  • The age of the person applying must lie between 21 to 67 years.

  • Employees from all the sectors like public, private, or MNC, can apply.

  • Generally, a CIBIL score of 750 or higher is recommended.

  • The minimum monthly salary should be ₹22,000. This may vary based on the city of residence.

The city where the applicant resides and the monthly salary is the most important eligibility criteria that decide the approval of a loan. The minimum salary requirement to apply for this Personal Loan is just ₹22,000. Before starting the application process, you need to keep the required documents with you so that you can easily upload them while filling out the online application form.

How to Apply for a ₹70,000 Personal Loan

You can follow these simple steps to apply for a ₹70,000 Personal Loan:-

  • Step 1: Choose a bank from where you wish to obtain a ₹70,000 Personal Loan

  • Step 2: Browse the bank’s official website or download its app.

  • Step 3: Navigate to and click on the ‘Personal Loan’ section.

  • Step 4: Fill in the application form accurately.

  • Step 5: Read the terms & conditions as well as the other charges associated with the loan.

  • Step 6: Lastly, submit the form along with the required documents.

Documents Required to avail a ₹70,000 Personal Loan

The list of documents needed to apply for ₹70,000 Personal Loan includes:

  • Employee ID card of the applicant

  • KYC documents comprising of PAN card/Aadhaar card / voter’s ID/ passport

  • Proof of income: salary slips for the last 2-3 months

  • Bank account statements for the last three months

₹70,000 Personal Loan EMI

The EMI for ₹ 70,000 Lakhs Personal Loan varies based on the chosen tenure and the interest rate. The EMI also depends on several other factors like the loan amount and the CIBIL score of the applicant. You can check the following table to know about ₹70,000 Personal Loan EMI for different tenures up to 5 years at a low Personal Loan interest rate of 10.49% p.a.


Interest Rate


EMI for 1 year


₹ 6,170

EMI for 2 year


₹ 3,246

EMI for 3 year


₹ 2,275

EMI for 4 year


₹ 1,792

EMI for 5 year


₹ 1,504

FAQs on ₹70,000 Personal Loan

Most banks today facilitate 24x7 Personal Loan offers, and the application process is end-to-end digital; the loan disbursement is instant and highly seamless. You can easily take a Personal Loan to fund your urgent financial requirements. If you have a good CIBIL score, you can check for ₹70,000 Personal Loan on Bajaj Markets or more information.

The monthly EMI for a ₹70,000 Personal Loan is determined by many factors like the rate of interest, CIBIL score of the applicant, and the tenure chosen for loan repayment. You can avail of reduced EMI for a Personal Loan by maintaining a good credit score, i.e., 750+. Suppose you have a good credit score and a track record without any defaults for previous loan repayments, you can easily negotiate for a better interest rate which will eventually reduce your EMIs for the loan.

The interest rate levied on the Personal Loan varies based on the lender chosen, the monthly salary, and the CIBIL score of the applicant. Generally, the interest rate for a ₹70,000 Personal Loan varies between 10 to 16%. If you have a good credit score, you can easily negotiate for a better interest rate on your Personal Loan.

A Personal Loan is generally categorized as an unsecured loan, i.e., you do not have to submit any collateral or security to avail of a Personal Loan. These days NBFCS and banks have attractive offers for Personal Loans. Moreover, the application process is fully digitalised and done online. If you fulfil all the eligibility criteria and your credit score is above 750, you can easily get a loan at an interest rate as low as 10.49% p.a.

Almost all banks offer competitive rates for Personal Loans these days. Some of the best banks to avail ₹70,000 Personal Loans can be Axis Bank, ICICI Bank, and HDFC Bank. You can also check the attractive interest rates of the Personal Loan through Bajaj MARKETS where you can benefit from the features like instant Personal Loan approval and attractive interest rates.

Defaulting on the ₹70,000 Personal Loan payment for over 30 to 60 days can negatively impact your credit score. But the impact would not be long-lasting if you make all the due payments and the penalties within 60 days. Defaulting on a Personal Loan for a period of more than 60 days has a severe impact on your credit score as it gets recorded on your credit report, and lenders might perceive you as a repeat offender, which can make it difficult to get loans in the future.

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