Short-Term Personal Loan

Availing a short-term personal loan can help you manage unforeseen emergencies. Depending on the lender, you can repay this loan within a short tenure of 6-96 months. A short-term loan can tackle your planned and unplanned expenses, from funding your dream vacation to paying your medical bills. 

Moreover, you can apply for a short-term personal loan online and get it approved within a few minutes. This is possible because of simple eligibility criteria and a minimal documentation process. 

When planning to apply for a short-term loan, all you need to do is visit Bajaj Markets and avail exciting loan deals from various lenders. 

When thinking of applying for an instant short-term loan online, meeting the following short-term loan eligibility criteria is vital:

• Nationality: Indian

• Age: Between 21-60 years of age

• Employment Criteria: Salaried and employed in a reputed firm

• CIBIL/Credit Score: 750 or above

• Salary: Depends on the city you reside in and the criteria set by the lender

You can use a personal loan eligibility calculator to estimate the sanctioned amount before applying for an instant short-term loan.

Disclaimer: The current interest rates are subject to change at the lender’s discretion. So, check the lender’s website before availing these short-term loans. 

Here’s a list of a few lenders offering affordable short-term personal loans: 

1. SMFG India Credit

You can avail these loans at nominal interest rates starting from 11.99% p.a. Additionally, the lender disburses your loan quickly, thanks to its speedy approval process. 

2. KreditBee

With annual interest rates starting from 14%, KreditBee is an online platform providing affordable short-term personal loans. All you have to do is submit minimal documents for quick and easy loan approval.

3. Cashe

You can avail personal loans from Cashe at monthly interest rates of 2.55% onwards. Moreover, you can even get your loan sanctioned with funds credited within 24 hours.

Disclaimer: The current interest rates are subject to change at the lender’s discretion. So, check the lender’s website before availing these short-term loans. 

Submit the following documents to get access to quick funds. However, note that documentation can vary from one lender to another.

• PAN Card

• Proof of residence (Passport/Driver’s licence/Voter’s ID/Phone or Electricity bill)

• ID proof

• Recent passport-size photograph(s)

• Salary slips for last 3 months

• Latest 3 months’ bank statements (salary account)

• Penalties: You have to pay penalty interest on the amount due if you default on your monthly repayments. This penalty interest amount increases daily.

• Processing fees: When availing a loan, you have to pay a small amount towards processing charges. Mostly, these charges are not inclusive of the GST levied.

• Delayed Payment Charges: Note that defaults in EMI can also attract late payment fees.

• Applicable interest rates: Since the interest rate is calculated depending on the loan amount and tenure, you can repay the principal and interest within a shorter timeline at cost-effective rates. This way, a short-term loan is more affordable than a long-term loan.

For example, PaySense charges monthly interest rates ranging from 1.4% to 2.3%, whereas CASHe has monthly interest rates starting at 2.79%.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.