₹35,000 Personal Loan

You can secure a personal loan of ₹35,000 to manage urgent expenses without impacting your savings. This loan provides quick access to funds and offers complete flexibility in how you utilise the amount.

For example, at an annual interest rate of 10%, selecting a 3-year tenure results in an EMI of ₹1,129, with a total interest payout of approximately ₹5,657. Opting for a longer tenure reduces the monthly EMI but increases the overall interest payable.

A personal loan provides quick access to funds with minimal paperwork and flexible repayment options. You have to choose a monthly EMI that fits your budget and repay it at your convenience without exhausting your savings.

Multiple leading lenders offer personal loans of ₹35,000 via Bajaj Markets. Compare interest rates and repayment tenures to choose the best option for your requirements:

Your EMI, total interest, and repayment cost for a ₹35,000 personal loan at 14% p.a. vary by the chosen tenure. Shorter tenures result in higher EMIs but lower interest, while longer tenures lower EMIs but increase total interest. Review all details with different tenures in the provided table:

When applying for a personal loan of ₹35,000, lenders may impose additional fees, such as processing charges, foreclosure fees, and part-payment costs. These fees differ across lenders and can influence the total cost of your loan. Refer to the table below for an overview of the applicable fees: 

You can calculate your personal loan EMI using 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 example, a personal loan of ₹35,000 at 14% p.a. for 60 months will result in an EMI of ₹814. The total interest payable will amount to ₹13,863. Consequently, the total amount payable will be ₹48,863.

To apply for a personal loan of ₹35,000, ensure you meet the following eligibility criteria:

1. You are at least 18 years old

2. You are either self-employed or salaried

3. You earn a stable monthly income of ₹10,000 or more

4. You have a minimum of one year of work experience

5. You maintain a CIBIL score of 600 or above

Keep the following documents handy for a smooth loan application process:

Since each lender may establish its own eligibility standards and documentation policies, you need to verify the exact requirements with your chosen financial institution prior to submitting your loan application.

Follow these simple steps to apply for a personal loan online:

1. Click on ‘Apply for a personal loan’

2. Fill in your basic personal information in the online form

3. Specify the loan amount and your preferred repayment tenure

4. Submit the form for verification

A representative will later reach out to you to provide assistance with the subsequent steps of your application process.

Suppose you take a loan of ₹35,000 at an interest rate of 14% with a tenure of 6 months. Below is the amortisation breakdown:

Your CIBIL score, ranging from 300 to 900, reflects your creditworthiness and affects your loan eligibility. Here is how taking a personal loan can influence it:

• Pre-approval Impact

When you apply for a personal loan, the lender checks your credit report, resulting in a hard inquiry. This can cause a slight temporary reduction in your CIBIL score.

• Post-approval Impact

Timely EMI payments help improve your credit score, demonstrating your ability to manage debt responsibly. This enhances your chances of receiving better loan offers in the future.

It offers a quick and flexible solution to manage both planned and unexpected expenses. Here are some common ways to use it:

• Renovation or Relocation

It can assist with home renovation or relocation expenses, covering costs like wooden flooring, painting, and repairs, ensuring a smooth transition or upgrade without financial strain.

• Medical Emergencies

This loan can help cover sudden medical costs, including hospital bills, doctor consultations, medicines, and diagnostic tests. It ensures you receive the necessary treatment without financial stress.

• Home Repairs

Unexpected home repairs, such as plumbing issues, electrical work, or fixing a leaky roof, can be expensive. A ₹35,000 personal loan provides the necessary funds to address these urgent repairs promptly.

• Travel Plans

The loan can fund your dream vacation, covering flights, hotels, sightseeing, and shopping. Travel now and repay conveniently in easy instalments over time.

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.