BAJAJ FINSERV DIRECT LIMITED

₹5,000 Personal Loan

You may need quick money for an urgent expense, and a personal loan of ₹5,000 can provide support. 

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It is suitable for small requirements such as medical bills, utility payments, or minor repairs. You do not need to provide any security or go through a lengthy process on Bajaj Markets.

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Your Personal Loan EMI
₹ 449
Total Interest Amount
₹ 387
Principal Amount
₹ 5,000
Total Payable Amount
₹ 5,387
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

You can instantly compare loan offers from multiple personal loan providers on Bajaj Markets.

 

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 You can also assess the total interest and overall repayment amount to support better budgeting and financial planning.

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Facing a small urgent financial need or a sudden expense may require a personal loan of ₹5,000 as a quick and convenient solution. This unsecured loan offers competitive interest rates starting from 14% p.a.

For example, taking a ₹5,000 loan for a 5-month tenure at an interest rate of 14% p.a. results in an EMI of ₹1,035. This will entail a total interest payout of approximately ₹176 over the tenure. Opting for a shorter 1-month tenure increases the EMI to about ₹5,058. However, the total interest reduces to approximately ₹58.

A personal loan of ₹5,000 provides easy access to funds 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:

Lender

Max. Loan Amount

Min. Interest Rate

Max. Tenure

Processing Fee

Kissht

₹4 Lakhs

14% p.a.

24 months

3% to 5% of the loan amount

KreditBee

₹5 Lakhs

14% p.a.

24 months

Up to 3% of the loan amount

PaySense

₹5 Lakhs

14 % p.a.

60 months

2% to 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher)

MoneyTap

₹5 Lakhs

18% p.a.

36 months

5% to 10% of the loan amount

Zype

₹5 Lakhs

18% p.a.

12 months

2% to 6% of the loan amount

Olyv

₹1 Lakh

18% p.a.

12 months

2% to 12% of the loan amount

mPokket

₹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.

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:

Tenure

EMI Amount

Interest Rate

Total Interest Payable

Total Repayment Cost

₹5,000 Loan for 1 Month 

₹5,058


14% p.a.

₹58

₹5,058


₹5,000 Loan for 2 Months 

₹2,543

14% p.a.

₹87

₹5,087

₹5,000 Loan for 3 Months  

₹1,705

14 % p.a.

₹117

₹5,117

₹5,000 Loan for 4 Months 

₹1,286

14% p.a.

₹146

₹5,146

₹5,000 Loan for 5 Months  

₹1,035


14% p.a.

₹176


₹5,176

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

Additional costs beyond the interest payable may apply when you secure a ₹5,000 loan on Bajaj Markets. These include:

Fees and Charges

Details

Processing Fees

Up to 12% of the loan amount

Foreclosure Fees

Up to 4% on the outstanding loan amount

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

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.

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

  • Nationality: Indian

  • Age: 18 years and above

  • Nature of Employment: Self-employed or salaried individual

  • Minimum Work Experience: 2-3 years

  • Credit Score: 600 or higher

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

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

Document requirements may vary depending on the financial institution. It is important to confirm the exact list of required documents with your chosen lender before submitting your application.

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

  1. Generate your offer by clicking here

  2. Fill up the application form 

  3. Select the loan amount 

  4. Select a preferred tenure 

  5. Submit the form for verification

Shortly, a representative will contact you with your offer. 

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.

Month

Payable Amount

Principal

Interest

Balance

Month 1

₹ 868

₹ 809

₹ 58

₹ 4,191

Month 2

₹ 868

₹ 819

₹ 49

₹ 3,372

Month 3

₹ 868

₹ 828

₹ 39

₹ 2,543

Month 4

₹ 868

₹ 838

₹ 30

₹ 1,705

Month 5

₹ 868

₹ 848

₹ 20

₹ 858

Month 6

₹ 868

₹ 858

₹ 10

₹ 0

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

Your CIBIL score reflects your creditworthiness and financial health. Here is how a personal loan affects it:

  • Pre-approval Impact

When you apply for a loan, the lender performs a hard inquiry to review your credit report. This inquiry is recorded on your credit history and may cause a slight, temporary reduction in your credit score.

  • Post-approval Impact

Paying your EMIs on time helps improve your credit score. Consistent and timely repayments demonstrate responsible debt management, making it easier to secure loan approvals in the future.

A ₹5,000 personal loan can provide essential financial support in various situations. Below are some common uses for such a loan:

  • Emergency Medical Expenses

Medical emergencies are often unexpected, and a ₹5,000 loan can help cover urgent medical bills, doctor consultations, or minor treatments. It offers quick relief without causing financial strain.

  • Utility Bill Payments

Delaying utility bill payments can result in service interruptions. This personal loan can settle overdue bills, ensuring uninterrupted access to essential services such as electricity, water, or internet.

  • Education Expenses

Whether for tuition fees, study materials, or online courses, a ₹5,000 personal loan can help manage educational expenses. It enables you to continue your studies without delay.

  • Travel Expenses

A ₹5,000 loan can cover urgent travel costs, including transportation or accommodation. It ensures you can attend family emergencies, job interviews, or other important commitments without financial stress.

  • Vehicle Repairs

Unexpected vehicle issues can disrupt daily routines. The loan can cover minor repair costs, ensuring your vehicle is roadworthy again.

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

Personal Loan of ₹5,000
What credit score do I need for a ₹5,000 instant loan?

For a ₹5000 instant personal loan on Bajaj Markets, you need a credit score of at least 600.

A loan applicant must earn a minimum of ₹10,000 or more every month to meet the common personal loan eligibility criteria. However, this requirement may vary from one lender to another. So, get a complete understanding of your chosen lender's eligibility criteria before applying.

 

Yes, you can easily get a ₹5000 personal loan without any collateral on Bajaj Markets. 

 

Different lenders offer different interest rates, repayment tenures, loan features, etc. Thus, it is best to compare offers from different lenders on Bajaj Markets. Assess which loan offer best suits your needs and preferences.

You should have some basic documents ready when applying for a personal loan, such as PAN card, Aadhaar card, passport, driving licence and bank statement for the last 3 months.

Many lenders on Bajaj Markets offer urgent ₹5,000 loans in just a few simple steps. The application process is quick and easy, and you can complete it online.

Lenders offering personal loans on Bajaj Markets typically process the loan request quickly, allowing you to get the funds without delays.

You can compare personal loan options from various lenders on Bajaj Markets and simply apply for the one that suits you most. All lenders on this platform allow you to complete the formalities online, from the comfort of your home.

Through Bajaj Markets, you can  compare and apply for the loan from any of the following lenders:

  • PaySense Parters 

  • KreditBee

  • Kissht

  • Zype

  • MoneyTap

  • Olyv

  • mPokket

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