You can easily get a personal loan of ₹60,000 through Bajaj Markets via a simple online application process. The interest charged on the loan starts from just 9.99% p.a. while the tenure can range up to 96 months. On Bajaj Markets, choose from multiple lenders, benefit from zero hidden charges and enjoy instant disbursal.
The interest rate charged on a personal loan of ₹60,000 by lenders on Bajaj Markets are as follows:
Lenders |
Starting Interest Rate |
Bajaj Finance |
10% p.a. |
CASHe |
27% p.a. |
Federal Bank |
11% p.a. |
Fibe |
14% p.a. |
Finnable |
15.95% p.a. |
InCred |
16% p.a. |
Kissht |
14% p.a. |
Kotak Mahindra Bank |
10.99% p.a. |
KreditBee |
15% p.a. |
L&T Finance |
12% p.a. |
moneyview |
15.96% p.a. |
Muthoot Finance |
14.50% p.a. |
Olyv |
18% p.a. |
PaySense |
14% p.a. |
Privo |
9.99% p.a. |
SMFG India Credit |
12% p.a. |
Upwards |
18% p.a. |
Zype |
18% p.a. |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
The following example will help you understand how tenure affects your loan EMI. Let’s say you took a loan of ₹60,000 at an interest rate of 9.99% p.a. As per the chosen tenure, the instalment amount will be as shown in the table below:
Tenure |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
12 months |
₹5,274.67 |
₹3,296.09 |
₹63,296.09 |
24 months |
₹2,768.42 |
₹6,442.05 |
₹66,442.05 |
36 months |
₹1,935.75 |
₹9,686.98 |
₹69,686.98 |
48 months |
₹1,521.47 |
₹13,030.41 |
₹73,030.41 |
60 months |
₹1,274.53 |
₹16,471.65 |
₹76,471.65 |
72 months |
₹1,111.25 |
₹20,009.84 |
₹80,009.84 |
84 months |
₹995.76 |
₹23,643.93 |
₹83,643.93 |
96 months |
₹910.13 |
₹27,372.71 |
₹87,372.71 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
The EMI amount reduces as the tenure increases. On the other hand, there is a rise in the interest cost, which leads to a surge in the total repayment cost. Compare the probable EMIs across different tenure options to assess which repayment period best suits your preferences and requirements. Budget accordingly and ensure that you make timely payments to avoid any additional charges in the form of a penalty.
To qualify for a personal loan of ₹60,000 you are usually required to meet the criteria listed below:
You must be an Indian citizen
Your age must be 18 years or more
If salaried, you must be working in a reputed company for at least 2 to 3 years
If self-employed professional or non-professional, you must be running a successful business for at least 1 year
You should have a minimum monthly earning of ₹15,000
Furthermore, the lender will require you to submit the documents listed below when applying for a personal loan of ₹60,000:
Identity proof: PAN card, Aadhaar card, voter ID, etc.
Address proof: Aadhaar card, passport, utility bills, etc
Here are some additional documents you may have to submit depending on the nature of your employment:
For salaried applicants:
Salary slips of the previous 3 months
Form 16
ITR filings
For self-employed applicants:
Form 26AS
TDS certificate
Income Tax challan of the business
ITR filing of the last 2 years
Proof of business origination
Other Instant Personal Loan Options |
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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.
Online banking has made it very easy for borrowers to apply for loans and complete the process digitally. Simply submit your application for a ₹60,000 personal loan online along with the necessary documents. However, if you want to understand more details, then you can also choose to visit the nearest branch of the bank and apply in person.
The monthly EMI for a ₹60,000 personal loan is calculated based on the interest rate offered by the lender and the repayment tenure selected by the borrower.
Ideally, the interest rate for a personal loan with most financial institutions starts from 9.99% p.a. However, these rates are subject to the policies of your chosen lender.
Personal loans are generally unsecured loans. It means you do not need to put up any collateral to avail of the loan.
Some prominent lenders who offer a personal loan of ₹60,000 on Bajaj Markets include:
Bajaj Finance
CASHe
Federal Bank
Fibe
Finnable
InCred
Kissht
Kotak Mahindra Bank
KreditBee
L&T Finance
moneyview
mPokket
Muthoot Finance
Olyv
PaySense
Privo
SMFG India Credit
Upwards
Zype
Every bank, financial institution, or lender will offer competitive interest rates and a different repayment tenure. Hence, it is best to do your due diligence and 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 a 60-day notice is issued by the bank. This notice closes as soon as the pending dues are paid by the loan defaulter. If the loan is not repaid within the notice period, then the lender can take legal action against the borrower as well.