₹30,000 Personal Loan

A ₹30,000 personal loan offers a practical solution for managing short-term financial needs. You can use the funds for essential repairs, educational expenses, or unexpected medical costs. This way, you get the support you need without disrupting your existing savings.

For instance, at an interest rate of 10% per annum, a loan of ₹30,000 over 2 years would mean an EMI of just ₹1,384, with a total interest payout of approximately ₹3,224. Opting for a shorter tenure reduces your interest cost, while a longer one makes the monthly payments lighter.

With quick processing and minimal paperwork, this loan provides the financial flexibility you need. It allows you to access funds without delays or complications. You can also choose a repayment tenure that best suits your finances.

On Bajaj Markets, you can get a personal loan of ₹30,000 at low interest rates from the lenders listed below:

Here is how the EMI will differ across tenures for a personal loan of ₹30,000 if the interest rate is set at 9.99% p.a.:

You can secure a personal loan of ₹30,000 from a choice of multiple lenders available on Bajaj Markets. During the application process, additional charges may apply. Be sure to review them carefully to plan your finances accordingly.

To calculate the EMIs for your personal loan, you can use the following formula: 

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where:

• P = Principal loan amount

• R = Monthly interest rate (Annual interest rate / 12 / 100)

• N = Loan tenure in months

For instance, if you take an instant personal loan of ₹30,000 from Bajaj Markets. Suppose the interest rate is 10% p.a. for a loan tenure of 12 months. Using the formula, the EMI will be ₹2,637. The total interest payable will be ₹1,648, and the total amount payable will be ₹31,648.

The eligibility criteria may vary by lender, but here are some standard requirements:

• You should be either salaried or self-employed

• You must be an Indian citizen

• Your age should be at least 18 years

• You must have a minimum monthly income of ₹10,000  

• You must have a minimum of 1 year of work experience 

• CIBIL score should be 600 or more

While applying for a personal loan of ₹30,000, you may need to submit the following documents. You may provide any of the options listed:

Identity Proof (Any one of the following): 

• PAN card

• Aadhaar card

• Voter ID

• Passport

• Driving licence

Address Proof (Any one of the following): 

• Voter ID

• Aadhaar card

• Passport

• Driving licence

• Electricity bill

• Telephone bill

Income Proof (Any one of the following):

• Bank statement

• Salary slips of the last 3 months

Applying for a personal loan online in is simple, as shown below:

1. Click on the 'Instant Approval' option

2. Enter your basic personal information 

3. Select your preferred tenure and loan amount 

4. Click on ‘Submit’

5. Wait for representative to reach out with your offer

6. Follow the instructions to complete the process 

Suppose you take a personal loan of ₹30,000 at an interest rate of 10% p.a. and a tenure of 6 months. Below is the amortisation schedule:

Here is how a personal loan can impact your CIBIL score and overall financial profile: 

• Pre-approval Impact

When you apply for a personal loan, the lender reviews your credit report. This process is known as a hard inquiry. It appears on your CIBIL report and may reduce your credit score by a few points temporarily.

• Post-approval Impact

Timely repayments positively influence your credit score. They demonstrate your creditworthiness and indicate that you have the ability to manage debt effectively.

A personal loan of ₹30,000 offers you flexibility for various requirements. Here are some common uses:

• Home Repairs

Minor home repairs or upgrades often become necessary. Situations such as replacing a broken appliance or repairing electrical faults can be managed efficiently with a personal loan of ₹30,000.

• Small Celebrations or Occasions

Family celebrations or important occasions often involve additional expenses. A personal loan can help cover costs such as decorations, gifts, and other event-related requirements.

• Emergency Medical Expenses 

Unexpected medical needs can arise without warning. A ₹30,000 personal loan can support the payment of hospital bills and other medical costs, ensuring timely care without financial burden.

• Travel Expenses

Those planning a trip need to have sufficient funds for travel arrangements. A ₹30,000 personal loan can help cover transportation, accommodation, and other essential expenses.

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.