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₹60,000 Personal Loan

You can easily get a personal loan of ₹60,000 through on Bajaj Markets via a simple online application process. The interest charged on the loan starts from just 10% p.a. Choose from multiple lenders, enjoy quick approval and benefit from zero hidden charges.
Your Personal Loan EMI
₹ 1,142
Total Interest Amount
₹ 22,205
Principal Amount
₹ 60,000
Total Payable Amount
₹ 82,205
Loan Amount i
Interest Rate
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Min value reached
Max value reached
Tenure
Months drop-down-img
  • Years
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Max value reached
Instant Approval

Make instant comparisons between loan offers from multiple personal loan providers on Bajaj Markets.

...

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

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Overview

A personal loan of ₹60,000 can serve as an ideal solution for individuals seeking instant financial support without using their savings. Whether the requirement is for a medical emergency, travel plan, or any unexpected cost, this loan offers the liquidity required.

For example, a ₹60,000 loan with a 2-year tenure at 10% per annum interest results in an EMI of approximately ₹2,768. The total interest paid over the tenure amounts to nearly ₹6,448. 

Opting for a longer 8-year tenure reduces the EMI to ₹910 but increases the total interest to ₹27,403.

With fast approval, minimal documentation, and fixed EMIs, this personal loan ensures timely access to funds and a structured repayment experience.

Compare ₹60,000 Personal Loan Interest Rates by Various Banks & NBFCs

Obtain a ₹60,000 personal loan from various lenders on Bajaj Markets without collateral. Go through the table below for the maximum tenure and interest rates of various lenders to identify the most suitable option:

Compare ₹60,000 Personal Loan Interest Rates by Various Banks & NBFCs

Available Offerings

Max. Loan Amount

Max. Tenure

Min. Interest Rate

Processing Fee

Bajaj Finance Limited

₹55 Lakhs

96 months

10% p.a.

Up to 3.93% of the loan amount

CASHe (Bhanix Finance) Personal Loan

₹3 Lakhs

18 months

2.79% p.m.

Up to 5.5% of the loan amount

Kotak Mahindra Bank Personal Loan

₹40 Lakhs

72 months

10.99% p.a.

Up to 1.50% of the loan amount

Federal Bank Personal Loan

₹5 Lakhs

48 months

12.75% p.a.

0.70% to 2.80% of the loan amount

L&T Finance Personal Loan

₹15 Lakhs

48 months

12% p.a.

Up to 3% of the loan amount

SMFG India Credit Personal Loan

₹25 Lakhs

60 months

12% p.a.

Up to 6% of the loan amount

Kissht Personal Loan

₹4 Lakhs

24 months

14% p.a.

3% to 5% of the loan amount

Fibe Personal Loan

₹5 Lakhs

36 months

14% p.a.

Up to 2% of the loan amount

KreditBee Personal Loan

₹5 Lakhs

24 months

14% p.a.

Up to 3% of the loan amount

PaySense Personal Loan

₹5 Lakhs

60 months

14% p.a.

2% to 2.5% of the loan amount

Muthoot Finance Personal Loan

₹10 Lakhs

60 months

14.50% p.a.

2% to 4% of the loan amount

Finnable Personal Loan

₹10 Lakhs

60 months

15.95% p.a.

Up to 3% of the loan amount

InCred Personal Loan

₹10 Lakhs

60 months

16% p.a.

2% to 5% of the loan amount

Moneyview Personal Loan

₹10 Lakhs

60 months

16% p.a.

Starts from 2% of the loan amount

Upwards Personal Loan

₹5 Lakhs

36 months

18% p.a.

Up to 4% of the loan amount

Freo Personal Loan

₹5 Lakhs

36 months

18% p.a.

5% to 10% of the loan amount

Olyv Personal Loan

₹1 Lakh

12 months

18% p.a.

2% to 12% of the loan amount

Zype Personal Loan

₹5 Lakhs

12 months

18% p.a.

2% to 6% of the loan amount

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

₹60,000 Personal Loan EMI for Different Tenures

The following example will help you understand how tenure affects your loan EMI. Suppose you take a loan of ₹60,000 at an interest rate of 10% per annum. Depending on the selected tenure, the instalment amount will be as shown in the table below:

Tenure

EMI Amount

Interest Rate

Total Interest Payable

Total Repayment Cost

₹60,000 Loan for 1 Year  

₹5,275

10% p.a. 

₹3,299

₹63,299

₹60,000 Loan for 3 Years 

₹1,936

10% p.a. 

₹9,697

₹69,697

₹60,000 Loan for 5 Years  

₹1,275

10% p.a. 

₹16,489

₹76,489

₹60,000 Loan for 8 Years  

₹910

10% p.a. 

₹27,403

₹87,403

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

₹60,000 Personal Loan: Fees and Charges

Some lenders may charge a processing fee for the loan. Additionally, if you choose to close the loan early or make partial payments, you may incur a penalty fee. Find the details below:

Fees and Charges

Details

Processing Fees

Up to 12% of the loan amount

Foreclosure Charges

Up to 7% of the amount 

Part-payment Charges

Up to 4.72% of the amount

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

How to Calculate Your Personal Loan EMI

You can manually calculate your ₹60,000 instant loan EMI using a simple formula. Here is how:

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

Here:

  • P = Loan amount

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

  • N = Loan tenure in months

Consider this example:

Assuming you are applying for a personal loan of ₹60,000 at an interest rate of 10% per annum for 40 months, the EMI will be ₹1,770. The total interest payable will be ₹10,802, bringing the total repayment amount to ₹70,802.

Eligibility & Documents Required for a Personal Loan of ₹60,000

If you are planning to take a personal loan of ₹60,000, here are the eligibility requirements you will need to meet:

  • You must be an Indian citizen

  • Both salaried and self-employed individuals can apply

  • The minimum age requirement is 18 years

  • You should have a monthly income of at least ₹10,000

  • A minimum of 1 year of continuous work experience is preferred

  • Maintain a healthy CIBIL score for ₹60,000 personal loan of at least 650, and regularly check your CIBIL score online to stay credit-ready

To apply for a personal loan of ₹60,000, you will need to provide the following documents:

Identity Proof (Any one of the following)

Address Proof (Any one of the following)

Income Proof (Any one of the following)
PAN Card Aadhaar Card Recent bank statements
Aadhaar Card Voter ID Salary slips for the last 3 months
Voter ID Passport  
Passport Driving Licence  
Driving Licence Electricity Bill  
  Telephone Bill  

How to Apply for a Personal Loan of ₹60,000

Here are the simple steps to quickly apply online for a ₹60,000 personal loan via Bajaj Markets:

  1. Visit the personal loan application page on Bajaj Markets

  2. Choose your profession from the dropdown list provided

  3. Enter your mobile number and residential PIN code accurately

  4. Review and accept the terms and conditions carefully

  5. Click ‘Proceed’ to continue your loan application

  6. Fill in your personal and employment details, including PAN, full name, date of birth, monthly salary, employer details, email, and salary payment mode

  7. Submit your information to view instant personalised loan offers

  8. Choose your preferred offer, enter the repayment tenure, and submit the application

A representative from Bajaj Markets will soon reach out to help you complete the process smoothly.

₹60,000 Personal Loan Monthly Payment Plan

A ₹60,000 loan at a 10% interest rate for 6 months includes the following amortisation breakdown:

Month

Payable Amount

Principal

Interest

Balance

Month 1

₹10,294

₹9,794

₹500

₹50,206

Month 2

₹10,294

₹9,875

₹418

₹40,331

Month 3

₹10,294

₹9,958

₹336

₹30,373

Month 4

₹10,294

₹10,041

₹253

₹20,333

Month 5

₹10,294

₹10,124

₹169

₹10,209

Month 6

₹10,294

₹10,209

₹85

₹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

A ₹60,000 personal loan can have either a positive or negative impact on your CIBIL score and financial profile. Here is how: 

Pre-approval Impact

When you apply for a personal loan, the lender reviews your credit report through a hard inquiry. This may result in a temporary decrease in your CIBIL score. The extent of the impact depends on your credit history and recent inquiries. 

Post-repayment impact

Timely repayments contribute to an improved CIBIL score, demonstrating responsible credit behaviour. A strong repayment history enhances eligibility for future loans with favourable terms.

Uses of a ₹60,000 Personal Loan

An instant loan of ₹60,000 can help you cover various urgent and planned personal expenses. Here is how you can use it:  

Sudden Trips

Urgent travel plans often require immediate funds. A ₹60,000 loan can help you manage travel expenses, including tickets, hotel bookings, and other essentials.

Home Remodelling

Home renovation projects can exceed budgets. The loan provides the extra financial support needed to complete the project without disruption. 

Medical Emergencies

Medical emergencies can result in unexpected costs that insurance may not fully cover. A personal loan can help manage these high expenses and provide financial relief during urgent treatments and procedures. 

Wedding Expenses

Weddings involve significant costs, and additional expenses can arise unexpectedly. A ₹60,000 personal loan helps cover unplanned costs during the ceremony.  

Moving to a New Place

Relocation often involves urgent expenses. A personal loan can assist with shifting costs, rent deposits, and other relocation-related expenses, ensuring a smooth transition.

Other Instant Personal Loan Options

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

60000 Rupees Personal Loan
How can I get a ₹60,000 instant personal loan?

Follow these easy steps to apply for a ₹60,000 personal loan on Bajaj Markets:

  1. Select a lending partner that matches your loan preferences 

  2. Enter your details and check your eligibility

  3. Fill out the application form with your personal and loan-related information

  4. Upload the required documents for verification

  5. Get loan approval and receive the funds directly in your bank account within a few days

The lender calculates the monthly EMI for a ₹60,000 personal loan based on the offered interest rate and the repayment tenure chosen by the borrower. At an interest rate of 10% p.a. for the loan amount, the EMI will be:

  • ₹5,275 for 1 year

  • ₹1,936 for 3 years

  • ₹1,275 for 5 years

  • ₹910 for 8 years

Ideally, the interest rate for a personal loan with most financial institutions starts from 10% p.a. However, these rates are subject to the policies of your chosen lender.

Yes, personal loans are generally unsecured loans. It means you do not need to put up any collateral to get the loan.

Some prominent lenders who offer a personal loan of ₹60,000 on Bajaj Markets include Muthoot Finance, Kotak Mahindra Bank, Federal Bank, and L&T Finance, among others. Lenders would offer competitive interest rates and different repayment tenures as per their terms.

Hence, it is best to do your due diligence. Approach multiple lenders for a ₹60,000 personal loan quotation and know which lender meets your needs the best.

For any foreseeable reason, if the borrower defaults on their ₹60,000 personal loan, then the bank will issue a notice. This notice closes as soon as the loan defaulter pays the pending dues. 

If the loan is not repaid within the notice period, then the lender can take legal action against the borrower as well.

You’ll need to submit some basic documents to apply for a ₹60,000 personal loan on Bajaj Markets. These include:

  • PAN Card

  • Aadhaar Card, Voter ID, or Passport

  • Bank statements or salary slips for the last 3 months

You can get a ₹60,000 loan using an Aadhaar card or PAN card along with other documents. The lender's specific requirements will ultimately determine the approval.aYou can get a ₹60,000 loan using an Aadhaar card or PAN card along with other documents. The lender's specific requirements will ultimately determine the approval.

Yes, it is possible to get a ₹60,000 loan through various lenders on Bajaj Markets, depending on your eligibility.

It can be easy to get a ₹60,000 loan if you meet the eligibility criteria set by the lender, such as a stable income and a good credit score.

₹60,000 can be a suitable loan amount depending on your financial needs and repayment capacity. You can use this loan for medical emergencies, home repair, Tuition fees, travel, etc.

The monthly EMI for a ₹60,000 personal loan varies based on the chosen interest rate and repayment period. For example, at 12% interest for 2 years, your EMI would be approximately ₹2,819.

To urgently secure ₹60,000, apply online for an instant personal loan through trusted platforms like Bajaj Markets. Meeting eligibility criteria and providing accurate documentation ensures quick approval and funds disbursal within 24 hours.

Your monthly cost (EMI) for a ₹60,000 personal loan depends on the selected interest rate and loan tenure. At 12% annual interest over 36 months, your monthly EMI would be around ₹1,993.

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