BAJAJ FINSERV DIRECT LIMITED

Personal Loan of ₹5,000

Need ₹5,000 urgently? A ₹5,000 personal loan can help you get the needed funds in a short-term period. You can get an urgent ₹5,000 personal loan on Bajaj Markets from multiple lenders with interest rates starting from 14% p.a.

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Furthermore, you can repay the loan at your convenience over tenures of up to 60 months. Use the personal loan EMI calculator to estimate your monthly instalments at various tenures before applying. Get the loan through a simple online application and hassle-free documentation processes.

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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 also make instant comparisons between loan offers from over 20 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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Get a ₹5,000 personal loan from top banks and financial institutions on Bajaj Markets. Check the table below to compare interest rates and maximum tenure: 

Lender

Maximum Tenure

Minimum Interest Rate

PaySense

60 months 

14.00% p.a.

KreditBee

24 months

14.00% p.a.

Kissht

24 months

14.00% p.a.

Zype

12 months 

18.00% p.a.

MoneyTap

36 months 

18.00% p.a.

Olyv

12 months

18.00% p.a.

mPokket

3 months

24.00% p.a.

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

The tenure you select will significantly influence your EMI and the total repayment cost. To illustrate this, consider an example: a loan of ₹5,000 at an annual interest rate of 14%. The instalment amount will differ depending on the chosen tenure. Refer to the table below for a detailed breakdown:

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

1 Year (12 Months)

₹449

₹387

₹5,387

3 Years (36 Months)

₹171

₹1,151

₹6,151

5 Years (60 Months)

₹116

₹1,980

₹6,980

8 Years (96 Months)

₹87

₹3,388

₹8,338

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

Here are charges you may have to : 

Fees and Charges

Details

Processing Fees

Up to 12% of the loan amount

Foreclosure Charges

Up to 4% of outstanding loan amount

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

Here is how you can manually determine EMIs for your ₹5,000 instant loan: 

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

Consider this example:

If you take a ₹5,000 personal loan at a 14% annual interest rate for 15 months, your EMI will be ₹365. The total interest paid will be ₹479, bringing the total repayment amount to ₹5,479.

A ₹5,000 urgent loan at a 14% interest rate for 6 months comes with the following amortisation breakdown:

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.

A ₹5,000 personal loan can influence your CIBIL score and financial profile in multiple ways:

  • Pre-approval Impact

Lenders assess your creditworthiness and banking relationship before offering a loan. This process generally involves a hard inquiry, which can temporarily reduce your credit score slightly. The extent of the impact depends on the number of such inquiries in your credit report.

  • Post-repayment Impact

A personal loan can help strengthen your credit score. With timely repayments, you contribute to a positive payment history and reduce your credit utilisation ratio. These two elements are critical for building and maintaining a strong credit profile.

An instant ₹5,000 loan can serve as a quick solution for various financial needs. Here is how you can use it:

  • Daily Essentials

The funds can help cover utility bills, mobile recharges, groceries, medicines, travel passes, or fuel. This can be especially helpful at the end of the month when there is a shortage of cash and regular expenses need to be managed.

  • Smart Investments

You can begin a small-scale online business or use the funds for your personal skill development. This can help generate additional income.

  • Weddings and Events

The funds can help manage small expenses or any last-minute shortfalls related to weddings or celebrations. You can buy a suitable gift, contribute to a group present, or purchase appropriate clothing for the occasion.

  • Home Setup

Small household purchases are often postponed due to budget constraints. Use the money to buy kitchen essentials, home décor items, bedding, or basic appliances.

  • Leisure and Entertainment

You may take a short break to relax or enjoy a film, meal, or day trip. The funds can also be used for subscriptions to OTT platforms, music services, or educational content for personal growth.

  • Unexpected Travel or Other Expenses

Emergencies such as minor medical needs or urgent travel can be handled promptly with the loan. It can also cover last-minute repairs for a phone, laptop, or two-wheeler without affecting your savings.

Frequently Asked Questions

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

For a ₹5,000 instant personal loan, you need a credit score of at least 650.

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 ₹5,000 personal loan without any collateral. Choose from multiple lenders offering the loan amount after comparing the competitive interest rates and other factors.

Different lenders offer different interest rates, repayment tenures, loan features, etc. Thus, it is best to compare offers from different lenders. Assess which loan offer best suits your needs and preferences. Some lenders you can consider are PaySense Partners, KreditBee, and Zype, among others.

You need to submit your identity proof, address proof, and income proof to apply for a loan.

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, compare and apply for the loan from any of the following lenders:

  • PaySense Parters 

  • KreditBee

  • Kissht

  • Zype

  • MoneyTap

  • Olyv

  • mPokket

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