Avail Instant Personal Loans ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now

You can apply for a personal loan of ₹40,000 on Bajaj Markets and benefit from interest rates starting at 9.99% p.a. Choose a repayment tenure of up to 96 months and repay the amount at your convenience. The digital application process, quick disbursal, and zero hidden charges make getting a personal loan on Bajaj Markets a great option.

Interest Rates for a Personal Loan of ₹40,000

The interest rates charged by lenders that offer personal loans of ₹40,000 are as follows:

Lenders

Starting Interest Rate

Bajaj Finance

10% p.a.

CASHe

27% p.a.

Finnable

15.95% p.a.

InCred

16.00% p.a.

Kissht

14% p.a.

KreditBee

15% p.a.

moneyview

15.96% p.a.

mPokket

24% p.a.

Olyv

18% p.a.

PaySense

14% p.a.

Privo 

9.99% p.a.

Upwards

18% p.a.

Zype

18% p.a.

*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

Calculate the EMI for a Personal Loan of ₹40,000

Loan Amount
Tenure
Months
Rate of Interest
Personal Loan
Your Monthly Personal Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

EMI for a Personal Loan of ₹40,000 Over Varying Tenures

The instalment amount for your personal loan of ₹40,000 is affected by the tenure you choose. Let’s say you took a loan of ₹40,000 and got an interest rate of 9.99% p.a. In this case, the EMI amount will differ depending on the tenure you select, as shown in the table below:

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

12 months

₹3,516.45

₹2,197.39

₹42,197.39

24 months

₹1,845.61

₹4,294.7

₹44,294.7

36 months

₹1,290.50

₹6,457.99

₹46,457.99

48 months

₹1,014.31

₹8,686.94

₹48,686.94

60 months

₹849.68

₹10,981.10

₹50,981.10

72 months

₹740.83

₹13,339.89

₹53,339.89

84 months

₹663.84

₹15,762.62

₹55,762.62

96 months

₹606.75

₹18,248.47

₹58,248.47

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Eligibility Criteria and Documents Required for a Personal Loan of ₹40,000

Here are some common criteria you are usually required to fulfil to be eligible for a personal loan:

  • Age above 18 years

  • Credit score of 750 or above

  • Minimum monthly income of ₹15,000 

  • Work experience of at least 2-3 years

  • Indian citizenship

  • Employment type - Salaried or self-employed

Ensure to keep the following documents handy when applying for this loan:

  • ID Proof: Any one of the following

    • PAN card

    • Aadhaar card

    • Voter ID

    • Driving licence

    • Passport

  • Address Proof: Any one of the following

    • Voter ID

    • Passport

    • Aadhaar card

    • Driving licence

    • Utility bill

  • Income Proof: Salary slip or bank statement of the last 3 months

Disclaimer

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.

Frequently Asked Questions

How can I get an instant personal loan of ₹40,000?

You can apply for a loan of ₹40,000 on Bajaj Markets. Just click on the ‘CHECK OFFER’ option on this page and provide your basic details to get started.

Can I get a loan of ₹40,000 without submitting a collateral?

You can borrow ₹40,000 with the help of a personal loan, which is an unsecured loan that does not require you to submit any collateral.

What is the minimum and maximum tenure for a loan of ₹40,000?

You can choose from tenures usually ranging between a few months to 8 years to repay your loan.

Can I get an instant ₹40,000 personal loan with minimal documents?

Yes. Apply for the loan on Bajaj Markets and get a personal loan of ₹40,000 with minimal documentation.

What is the CIBIL score required for a ₹40,000 personal loan?

Usually, having a CIBIL score of 750 or more is considered to be ideal for a personal loan of ₹40,000. However, this requirement may differ depending on the lender you choose. Hence it is essential to reach out to your loan provider for accurate details.

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