₹70,000 Personal Loan

A personal loan of ₹70,000 provides timely financial assistance to manage urgent expenses without depleting your savings. It ensures quick access to funds and places no restrictions on how the amount is used.

At an annual interest rate of 10%, a 5-year tenure results in a monthly EMI of ₹1,487 and a total interest payout of approximately ₹19,238. In case, you go for a tenure of 3 years at an annual interest rate of 10%, the monthly EMI will be ₹2,298. The total interest payout would be approximately ₹11,313. Opting for a shorter tenure lowers the monthly EMI but increases the overall interest cost.

With swift approval and minimal documentation requirements, this loan allows repayment through fixed monthly EMIs, making it a convenient and manageable financing option.

You can secure a ₹70,000 personal loan from top banks and financial institutions on this platform without any collateral. Compare interest rates and maximum tenure in the table below to choose the best option for your financial needs: 

Let us say you have taken a personal loan of ₹70,000 at an interest rate of 10% p.a. Depending on the repayment period you choose, here is how the loan repayment details may vary:

You may incur some additional fees when getting an instant personal loan. Here are the details:

You can calculate your personal loan EMI using the following formula:

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

Where:

• P = Principal loan amount

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

• N = Loan tenure in months

For example, you have taken an instant personal loan of ₹70,000 from Bajaj Markets. Consider the interest rate as 10% p.a. and the loan tenure of 60 months. Using the formula, the EMI will be ₹1,487. The total interest will be ₹19,238, and the total amount payable will be ₹89,238.

You can apply for a personal loan of ₹70,000 if you fulfil the following conditions:

• You are 18 years of age or older

• You work in a salaried role or run your own business

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

• You must bring at least one year of professional experience

• A healthy CIBIL score for ₹70,000 personal loan is 650 or higher; regularly check your CIBIL score online to track and enhance eligibility

Alongside this, keep the following documents handy for a smooth loan application process:

Lending institutions may have differing eligibility criteria and documentation requirements. Prospective applicants are encouraged to review the lender-specific guidelines and ensure they have all necessary documents in place before applying.

Please note that these document requirements can differ from lender to lender. So, it is best to check the precise list with your selected financial institution before applying.

Follow these simple steps to quickly apply online for a personal loan of ₹70,000 on Bajaj Markets:

1. Start your online loan application by clicking on Apply Now

2. Select your profession from the dropdown provided

3. Enter your mobile number and residential PIN code accurately

4. Carefully review and accept the terms and conditions

5. Click the ‘Proceed’ button to advance your application

6. Complete your personal details including PAN, full name, date of birth, net monthly income, employer details, email, gender, and salary payment method

7. Submit your information to view instant personalised loan offers

8. Choose the offer you prefer, specify your repayment tenure, and submit your application

A Bajaj Markets representative will soon contact you to guide you through the remaining application steps.

Suppose you take a loan of ₹70,000 at an interest rate of 10% and a tenure of 6 months. Here is the amortisation breakdown:

Personal loans can affect your CIBIL score and overall financial profile. Here’s how:

Pre-approval Impact

When you apply for a personal loan, the lender usually checks your credit report. This is called a hard inquiry. It will show on your CIBIL report and may lower your score by a few points for a short time.

Post-approval Impact

Timely repayment can positively impact your credit score. It shows lenders that you can manage debt, thus improving your creditworthiness.

If you have a low CIBIL score, getting a ₹70,000 personal loan may still be possible through NBFCs and digital lending platforms. These lenders usually evaluate other aspects, such as your monthly income or job stability. Although you might face higher interest rates or stricter terms, opting for a smaller loan amount like ₹70,000 can improve your chances of approval.

With a personal loan amount of up to ₹70,000, you can pay for various expenses, planned or unexpected. Here are some uses:

Unexpected Medical Expenses

With personal loan funding, you can fulfil your unexpected medical needs. Even if you have medical insurance, you might need personal loan funding for other expenses such as medicines and hospital bills.

Wedding Costs

You can use a personal loan to address the costs associated with weddings. These funds can help you cover the costs of the venue, catering, and decoration, among others.

Travel Plans

If you are planning a vacation, a personal loan can help address the expenses easily. The loan can cover costs related to flights, accommodation, sightseeing, and shopping.

Renovation or Relocation

If you are moving to a new home or you are renovating your house, you will need access to funds. You can use personal loan funding for wooden flooring, painting, and other expenses.

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.