₹8,000 Personal Loan

A personal loan of ₹8,000 helps to address urgent financial requirements without using your savings. This unsecured loan provides the flexibility to allocate funds towards emergencies or personal use.

Example:

• An EMI of ₹933 applies for a ₹8,000 personal loan with a 9-month tenure at an interest rate of 12% p.a. The total interest payable in this case would be ₹405.

• A 5-month tenure for the same ₹8,000 loan results in an EMI of ₹1,648, with a total interest of ₹241 at the same annual interest rate.

With flexible repayment tenures and prompt approvals, a personal loan of ₹8,000 offers a reliable solution for immediate financial needs. You need to select a suitable EMI and tenure based on your repayment capacity.

Certain NBFCs offer personal loans of ₹8,000 with flexible repayment tenures on Bajaj Markets. Compare their loan amount, interest rates, tenures, and processing fees to find one that suits your requirements.

The EMI for an ₹8,000 personal loan depends on the tenure and interest rate. At 12% p.a., here is a quick look at the EMI, total interest, and total repayment for different tenures:

When you take a ₹8,000 personal loan from Bajaj Markets, a few extra charges may apply besides interest. These include:

Calculating your ₹8,000 personal loan EMI is straightforward with an EMI calculator. You can compute it using the formula given below:

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

Where:

• P = Loan amount (₹8,000)

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

• N = Loan tenure in months

For example, when you take a personal loan of ₹8,000 at an interest rate of 12% p.a. for 12 months, the EMI will be approximately ₹710. The total interest payable will come to around ₹529. You will need to repay a total of ₹8,529.

Before applying for an ₹8,000 personal loan, ensure you meet these basic criteria:

• You must be an Indian citizen

• You must be salaried or self-employed

• You must be between 18 years of age

• You must have a minimum monthly salary of ₹10,000

• Your CIBIL score must be 600 or more 

You will also have to provide a set of documents when applying. Here are some documents to keep handy:

You can follow these simple steps to apply for a ₹8,000 instant loan online on Bajaj Markets.

1. Click on ‘Instant Approval’ on this page

2. Fill in your basic personal details in the online form

3. Enter the loan amount and select your preferred tenure

4. Submit the form for verification

A representative will contact you shortly to complete the remaining application process.

Here is the amortisation breakdown for a personal loan of ₹8,000 at an interest rate of 12% p.a. for a 6-month tenure:

Your CIBIL score is a number between 300 and 900. It indicates how well you manage loans and repayments. Taking a personal loan can impact your score in the following ways:

• Pre-approval Impact

When you apply for a personal loan, the lender conducts a hard inquiry on your credit report. This may slightly reduce your CIBIL score for a short period, as it gets recorded in your credit history.

• Post-approval Impact

Paying EMIs on time helps improve your CIBIL score. Regular and timely repayments demonstrate responsible loan management, making it easier to access future loans and credit cards at favourable interest rates.

A personal loan of ₹8,000 can help you meet essential, short-term expenses without dipping into your savings. Here are some of its practical uses:

• Emergency Medical Expenses

Minor health issues often require urgent attention. A ₹8,000 loan helps cover consultation charges, lab tests, or essential medicines. It ensures timely care without affecting your monthly budget.

• Utility Bill Clearance

Unpaid bills like electricity, gas, or mobile recharge can disrupt daily life. This loan helps you clear such dues promptly, maintaining the continuity of basic services at home.

• Emergency Local Travel

In case of a sudden need to travel within the city or to nearby areas, a ₹8,000 instant loan covers fuel, taxi fares, or basic travel tickets. It provides quick support without financial stress.

• Minor Household Repairs

Essential fixes like tap leaks, electrical faults, or small paint jobs can be managed with this loan. It helps you maintain your home without disturbing your routine budget.

• School-Related Expenses

Immediate needs like exam fees, uniforms, or study materials can arise during the academic year. A ₹8,000 loan helps you meet such educational expenses without delay.

• Grocery or Ration Purchase

During a tight month, managing household groceries becomes challenging. This loan amount helps you restock essentials and maintain regular household functioning.

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