BAJAJ FINSERV DIRECT LIMITED

₹40,000 Instant Personal Loan

A personal loan of ₹40,000 helps you cover short-term financial requirements such as emergency expenses or planned needs. At Bajaj Markets, you can apply for a ₹40,000 loan and benefit from interest rates starting at 10% p.a.

Your Personal Loan EMI

₹ 1,846

Total Interest Amount

₹ 4,299

Principal Amount

₹ 40,000

Total Payable Amount

₹ 44,299

Loan Amount i
Interest Rate
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Min value reached
Max value reached
Tenure
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You can make instant comparisons between loan offers from multiple personal loan providers on Bajaj Markets. 

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting. 

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Compare ₹40,000 Personal Loan Interest Rates by Various NBFCs

Personal loan offers from multiple NBFCs allow you to compare and choose the best deal for your needs. With competitive interest rates, flexible repayment options, and fast approvals, here are some lenders offering ₹40,000 instant loans:

Available Offerings

Max. Loan Amount

Min. Interest Rate

Max. Tenure 

Processing Fees

Bajaj Finance Personal Loan

₹55 Lakhs

10% p.a.

96 Months

Up to 3.93% of the loan amount (Inclusive of applicable taxes)

Kissht Personal Loan

₹4 Lakhs

14% p.a.

24 Months

3% to 5% of the loan amount

KreditBee Personal Loan

₹5 Lakhs

14% p.a.

24 Months

Up to 3% of the loan amount

PaySense Personal Loan

₹5 Lakhs

14% p.a.

60 Months

2% to 2.5% of the loan amount + GST or ₹500 + GST

Finnable Personal Loan

₹10 Lakhs

15.95% p.a.

60 months

Up to 3% of the loan amount

InCred Personal Loan

₹10 Lakhs

16% p.a.

60 Months

2% to 5% of the sanctioned amount

Moneyview Personal Loan

₹10 Lakhs

16% p.a.

60 months

Starts from 2% of the approved loan amount

Freo Personal Loan

₹5 Lakhs

18% p.a.

36 Months

5% to 10% of the loan amount

Upwards Personal Loan

₹5 Lakhs

18% p.a.

36 months 

Up to 4% of the loan amount

Zype Personal Loan

₹5 Lakhs

18% p.a.

12 Months

2% to 6% of the loan amount

Olyv Personal Loan

₹1 Lakh

18% p.a.

12 Months

2% to 12% of the loan amount

mPokket Personal Loan

₹45,000

24% p.a.

3 Months

₹50 to ₹200 + 18% GST (maximum APR of 48%)

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

₹40,000 Personal Loan EMI for Different Tenures

The instalment amount for your ₹40,000 personal loan is affected by the tenure you choose. For instance, consider a loan of ₹40,000 with an interest rate of 10% p.a. So, the EMI amount will differ depending on the tenure you select, as shown in the table below:

Tenure

EMI Amount

Interest Rate

Total Interest Payable

Total Repayment Cost

₹40,000 Loan for 1 year 

₹3,517

10% p.a.

₹2,200

₹42,200

₹40,000 Loan for 3 years 

₹1,291

10% p.a.

₹6,465

₹46,465

₹40,000 Loan for 5 years 

₹850

10% p.a.

₹10,993

₹50,993

₹40,000 Loan for 8 years 

₹607

10% p.a.

₹18,269

₹58,269

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

₹40,000 Personal Loan: Fees and Charges

Various banks, financial institutions, and partner issuers provide a personal loan of ₹40,000 without collateral. These loan options come with a competitive interest rate and flexible tenure. Below are some ₹40,000 instant loan offers from Bajaj Markets and partner lenders. 

Fees and Charges

Details

Processing Fees

Up to 12% of the loan amount

Foreclosure Charges

Up to 5% of the outstanding loan amount

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

How to Calculate Your Personal Loan EMI

Calculating your personal loan EMI helps you plan your repayments and avoid financial strain. It depends on factors like loan amount, interest rate, and tenure. Here is how you can calculate your personal loan EMI for variable tenures:

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

Here

  • P stands for principal amount

  • R for interest rate

  • N for loan tenure

For instance, if you take a personal loan for ₹40,000 for 30 months at an interest rate of 14%. Your EMI becomes ₹1,588 per month with a total interest payable of ₹7,638 and a total payable amount of ₹47,638.

Uses of a ₹25,000 Personal Loan

A ₹25,000 personal loan provides quick financial support for various planned and unexpected expenses. Here are some common ways to use it:

  • Medical Emergencies

This loan covers hospital bills, doctor's fees, medicines, and diagnostic tests. It ensures immediate treatment without financial difficulties.

  • Home Repairs

Unexpected repairs, such as plumbing leaks, electrical faults, or roof damage, can be expensive. The loan allows you to manage these costs while keeping your home safe and functional.

  • Education Expenses

Use this loan to pay tuition fees, buy books, or enrol in a professional course. It helps students and professionals continue their education without disruptions, supporting career growth.

  • Travel Plans

Fund your trip, including flight tickets, hotel stays, and sightseeing. Instead of postponing, you can travel now and repay later, making travel more accessible without financial pressure.

  • Other Urgent Expenses

This loan covers car repairs, relocation costs, or essential household purchases. It provides financial flexibility during unexpected situations without affecting your savings.

  • Renovation or Relocation

Use this loan for home renovations, including flooring, painting, and furniture upgrades. It also helps with relocation expenses, making moving to a new city more manageable.

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

Before applying for a personal loan of ₹40,000, you need to ensure that you meet the lender’s basic eligibility criteria. These conditions help assess your repayment capacity and influence the likelihood of approval.

  • You should be an Indian citizen

  • You should be salaried or self-employed

  • Your minimum age limit must be 18 years or older

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

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

 Maintain a healthy CIBIL score for ₹40,000 personal loan of at least 600 and regularly check your CIBIL score online to track eligibility

To apply for a personal loan of ₹40,000 successfully, you will also need to provide some valid documents. These documents assist lenders in determining your eligibility and repayment capability. They include:

Identity Proof (Any one of the following)

Address Proof (Any one of the following)

Income Proof (Any one of the following)

PAN card

Voter ID

Bank statement

Aadhaar card

Aadhaar card

Salary slips of the last 3 months

Voter ID

Passport

 

Passport

Driving licence

 

Driving licence

Electricity bill

 

 

Telephone bill

 

Please note that these document requirements can differ from lender to lender. So, it is best to check the precise list with your selected financial institution before applying.

How to Apply for a Personal Loan of ₹40,000

Here’s how you can quickly apply online for a personal loan of ₹40,000 in a few simple steps:

1.   Visit the loan application page on Bajaj Markets

2.   Select your profession from the provided dropdown menu

3.   Enter your mobile number and residential PIN code accurately

4.   Carefully review and agree to the provided terms and conditions

5.   Click on the ‘Proceed’ button to move forward

6.   Fill in your details, such as PAN number, full name, date of birth, monthly income, employer details, and email address

7.   Submit your details to view personalised loan offers instantly

8.   Choose the offer you prefer, select your repayment tenure, and confirm your application

A representative will soon contact you to assist with further processing of your personal loan application.

₹40,000 Personal Loan Monthly Payment Plan

If you plan to get a personal loan of ₹40,000 for 6 months at a competitive interest rate of 10% p.a., here is the EMI breakdown for your tenure:

Month

Payable Amount

Principal

Interest

Balance

Month 1

₹6,862.0

₹6,529.0

₹333.0

₹33,471.0

Month 2

₹6,862.0

₹6,583.0

₹279.0

₹26,888.0

Month 3

₹6,862.0

₹6,638.0

₹224.0

₹20,250.0

Month 4

₹6,862.0

₹6,693.0

₹169.0

₹13,557.0

Month 5

₹6,862.0

₹6,749.0

₹113.0

₹6,808.0

Month 6

₹6,862.0

₹6,805.0

₹60.0

0

Disclaimer: These are approximate values and are meant for illustration only. For actual EMI values, reach out to the lender.

Impact of Pre and Post-Personal Loan Approval on CIBIL Score

Before and after your personal loan approval, your CIBIL score plays a crucial role. Before loan approval, lenders assess it to determine your repayment capacity.

Pre-approval Impact

A CIBIL score is essential for personal loan approval, as these loans are unsecured. Lenders conduct a hard enquiry before approving your loan application, which can sometimes negatively impact your score.

Post-approval Impact

Once your loan is approved, timely repayments influence your credit score. Consistently paying on time helps maintain stability, while missed or late payments lower your score. This can overall lead to a reduction in future loan eligibility.

Can You Get a ₹40,000 Personal Loan with a Low CIBIL Score

Even with a moderately low CIBIL score, you can apply for a ₹40,000 personal loan and get approved. This is because some NBFCs and digital lenders don’t just rely on your credit score. They may focus on other things—like how much you earn, your current job, whether you’ve borrowed before, whether you’ve repaid on time, etc.

For a smaller loan like ₹40,000, many lenders are more relaxed with their rules. As long as you can show that you’re earning enough to repay the EMIs and are in a financially stable condition, they may give you a chance. Just remember, you might have to pay a little higher interest or share additional paperwork. But the chances of approval are still quite strong.

Uses of a Personal Loan of ₹40,000

With a personal loan amount of ₹40,000, you can cover various expenses such as medical emergencies, travel, or home improvements.

Medical Expenses

You can use personal loan funds to cover urgent medical expenses, including hospitalisation and medication bills.

Wedding Expenses

Personal loan funds can help you manage wedding-related costs, such as venue booking, decoration, and catering.

Relocation or Shifting Expenses

You can cover your relocation or shifting expenses, including rental deposits and moving charges, with loan funds.

Travel Expenses

Personal loan funds can finance your travel expenses, such as accommodation, transportation, and meals.

Educational Expenses

You can manage educational expenses, including tuition fees and books, with personal loan funds.

Electronic Appliance Purchases

You can use ₹40,000 in loan funds to purchase or replace essential electronic appliances, such as a refrigerator, television, or laptop.

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 an instant ₹40,000 loan on Bajaj Markets. Just click on the ‘Apply for a personal loan’ option on this page and provide your basic details to get started.

You can get a ₹40,000 loan without collateral by opting for a personal loan. Personal loans are unsecured loans that do not require you to submit any collateral.

You can choose from various tenures, usually ranging from 3 months to 5 years, to repay your loan.

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

Usually, having a CIBIL score of 600 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. Therefore, it is essential to reach out to your loan provider for accurate details before applying.

To get a personal loan of up to ₹40,000 through Bajaj Markets: 

  • You must be an Indian resident

  • You must be a salaried or self-employed individual

  • Your age must be above 18 years

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

  • You must have a minimum work experience of 1 year

  • Your CIBIL score must be above 600

However, you must note that the eligibility for various other banks and lenders can vary. 

To urgently obtain ₹40,000, apply for a personal loan on Bajaj Markets, which partners with several trusted lenders offering quick approvals. Meeting basic eligibility criteria, including a healthy CIBIL score, ensures funds are disbursed swiftly, often within 24 hours of application.

Getting a ₹40K personal loan is easy through Bajaj Markets, which provides access to multiple lenders with simple eligibility conditions. If you have a stable income, required documentation, and a good credit score, approval and disbursement processes become straightforward and hassle-free.

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