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BAJAJ FINSERV DIRECT LIMITED

₹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 10.99% 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

Interest Rate

- +

Tenure

- +

Instant Approval

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

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:

Available Offerings	Max. Loan Amount	Max. Tenure	Min. Interest Rate	Processing Fee
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
A CIBIL score of 600 or above is generally required for approval

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

To apply for personal loan from the comfort of your home, follow these steps:

Click here to apply for a personal loan
Provide your basic personal details
Choose the loan amount and tenure
Submit the form
Consider the offer and complete the process

Amortisation Table for a Personal Loan of ₹60,000

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

1,000 Personal Loan	2,000 Personal Loan	3,000 Personal Loan
5,000 Personal Loan	10,000 Personal Loan	15,000 Personal Loan
20,000 Personal Loan	25,000 Personal Loan	30,000 Personal Loan
35,000 Personal Loan	40,000 Personal Loan	45,000 Personal Loan
50,000 Personal Loan	55,000 Personal Loan	65,000 Personal Loan
70,000 Personal Loan	75,000 Personal Loan	80,000 Personal Loan
85,000 Personal Loan	90,000 Personal Loan	95,000 Personal Loan
1 Lakh Personal Loan	2 Lakh Personal Loan

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:

Select a lending partner that matches your loan preferences
Enter your details and check your eligibility
Fill out the application form with your personal and loan-related information
Upload the required documents for verification
Get loan approval and receive the funds directly in your bank account within a few days

What is the monthly EMI for a ₹60,000 personal loan?

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

What is the interest rate levied on a ₹60,000 personal loan?

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.

Can I get a ₹60,000 loan without collateral?

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

Which is the best lender for a ₹60,000 personal 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.