₹6,000 Personal Loan

If you are facing a small, urgent financial need or a sudden expense, a personal loan of ₹6,000 can be a quick and convenient solution. This unsecured loan offers competitive interest rates.

Here are examples to help you understand better:

• If you take a ₹6,000 loan for a 5-month tenure at an interest rate of 14% p.a., your EMI would be ₹ 1,242, and the total interest payable would be around ₹ 211 over the tenure.

• If you choose a 2-month tenure for a ₹6,000 loan at 14% p.a., your EMI would be around ₹3,037, with a total interest payout of approximately ₹74.

A personal loan of ₹6,000 offers easy access to funds with minimal documentation and flexible repayment options. You can pick a tenure that suits your budget and repay comfortably without disturbing your existing savings.

Many NBFCs offer personal loans of ₹6,000 with flexible repayment tenures on Bajaj Markets. Compare interest rates, tenures, and processing fees to find one that suits your requirements.

Let’s say the interest rate levied on your ₹6,000 loan is 12% p.a. Here is how the EMI amount will differ across various tenures:

Refer to the table below to know the fees and charges levied by various lenders:

Additional costs beyond the interest payable may apply when you secure a ₹6,000 loan on Bajaj Markets. These include:

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

You can either calculate your personal loan EMI using an online calculator or use 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

If you take a personal loan of ₹6,000 at an interest rate of 12% p.a. for 18 months, the monthly EMI will be ₹365. This will come with a total interest payable of ₹586, and the total payable amount will become ₹6,586.

Before applying for a ₹6,000 personal loan, make sure you meet these basic criteria and have the necessary documents ready:

Eligibility Criteria:

• You must be an Indian citizen
• You should be a salaried or self-employed person
• Your age should be 18 years or above
• A CIBIL score of 600 or above is usually preferred

Documents Required:

Keep these documents handy:

Here are the steps to apply for a loan online:

1. Tap on ‘Instant Approval’ section

2. Fill in your basic personal and financial details in the form

3. Enter the loan amount and choose your preferred tenure

4. Submit the application for quick verification

If you take a personal loan of ₹6,000 at an interest rate of 12% p.a. for a 6-month term, the amortisation breakdown will be as follows:

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

Pre-approval

• When you apply for a personal loan, the lender checks your credit report through a hard inquiry.
• This inquiry is recorded and may slightly lower your score for a short time.

Post-approval

• Paying your EMIs on time improves your credit score.
• Regular, timely payments show lenders that you manage debt well, making future loan approvals easier.

A ₹6,000 personal loan can be helpful in many small but important situations. Here are some common uses:

• Emergency Medical Expenses

Health problems can arise without warning, and medical bills cannot be put off. A ₹6,000 loan can help cover the cost of doctor visits, medicines, or small treatments during such emergencies.

• Paying Utility Bills

If you have pending electricity, water, or internet bills, this loan can help you clear them on time. It ensures your essential services continue without any interruptions or extra late charges.

• Education Costs

Sometimes, you might need to buy books, pay tuition fees, or enrol in an online course. A ₹6,000 personal loan can help you manage these small educational expenses without disturbing your monthly budget.

• Travel Expenses

Urgent travel for family matters, job interviews, or personal reasons can be costly. This loan can help cover travel expenses, such as tickets, fuel, or hotel charges, making it easier to travel when needed.

• Vehicle Repairs

A sudden breakdown of your bike or car can be stressful. With a ₹6,000 loan, you can manage minor repair costs and get your vehicle back on the road without delay.

Reference of all T&Cs necessarily refers to the terms of the Partners as regards pre-approved offers and loan processing time amongst other conditions.