₹5,000 Instant Personal Loan

A sudden expense or a small urgent financial need can be managed with a ₹5,000 personal loan.

For example, taking a ₹5,000 loan for a 12-month tenure at an interest rate of 14% p.a. results in an EMI of ₹448. This will entail a total interest payout of approximately ₹387 over the tenure. Opting for a shorter 6-month tenure increases the EMI to about ₹867. However, the total interest reduces to approximately ₹206.

7 lenders on Bajaj Markets offer ₹5,000 loan with minimal documentation and flexible repayment options. You can select a tenure that fits your budget and repay without disturbing your existing savings.

Several NBFCs offer personal loans of ₹5,000 with flexible tenure. You can select a lender based on your preferred repayment tenure and interest rate. Here are some popular options available on Bajaj Markets:

You can either calculate your personal loan EMI using an online calculator or apply the manual formula. Here is how you can calculate it manually:

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

Where:

• P = Loan amount

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

• N = Loan tenure in months

A personal loan of ₹5,000 at an interest rate of 14% p.a. for 12 months results in a monthly EMI of ₹448. The total interest payable amounts to ₹387, and the overall payable sum will be ₹5,387.

When you opt for a personal loan of ₹5,000 at an interest rate of 14%, the repayment amount varies based on the selected tenure. Below is a breakdown of EMIs for a ₹5,000 personal loan across different tenures:

Take a look at the eligibility criteria before you start to fill out the application for a personal loan of ₹5,000:

1. You must be of Indian nationality

2. Minimum age should be 18 years and above

3. You must be a self-employed or salaried individual

4. Minimum work experience should be 2-3 years

5. The recommended CIBIL score for ₹5,000 personal loan is 650 or more. You can check your CIBIL score online in a few minutes if you wish to know your recent score. 

Submit the following documents to get a personal loan of ₹5,000 on Bajaj Markets.

If you have all the documents ready, here are the steps to apply for a loan online. 

1. Click here to go to the application page and begin the process. 

2. Select your profession from the dropdown menu. 

3. Enter your mobile number and pin code for verification. 

4. Agree to the terms and conditions and click on ‘Proceed’. 

5. On the next page, enter or choose your required personal details: 

• PAN

• Name as per PAN card

• Date of birth

• Email ID

• Gender

6. Additionally, provide these details regarding your employment: 

• Employer category

• Employer/company name

• Net monthly salary

• Salary credit mode (Bank or Cash)

7. Double-check the details entered and click on ‘Submit’. 

8. As per your eligibility, you will be shown different loan offers. 

9. You can choose your preferred option and submit other required details. 

10. You will then be redirected to the lender's website for the next steps like KYC, e-mandate, and amount disbursal.

For a personal loan of ₹5,000 at an interest rate of 14% p.a. over a 6-month term, the amortisation breakdown will be as follows.

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.