Personal Loan for 2 Years

Loan tenure plays a crucial role in financial planning, as it impacts your monthly EMI, total interest outgo, and overall repayment timeline. A 2-year personal loan is ideal if you prefer quicker repayment with moderate EMIs and lower interest costs.

A personal loan EMI calculator is a convenient online tool that helps you estimate your monthly instalments based on the loan amount, interest rate, and repayment tenure. It simplifies financial planning by giving a clear picture of your monthly instalments.

To use the calculator, follow these steps:

1. Enter the loan amount you plan to borrow

2. Provide the interest rate (for example, 9.99% p.a.) to get an estimate

3. Choose the repayment tenure (such as 24 months or 2 years)

4. Click on ‘Calculate Now’ to view your EMI, total interest payable, and overall repayment amount

Example

For a personal loan of ₹10 Lakhs at an interest rate of 9.99% p.a. with a tenure of 2 years, the calculator shows the following information:

• EMI: ₹46,140

• Total Interest Payable: ₹1,07,367

• Total Repayment (Principal + Interest): ₹11,07,367

This calculation provides a clear understanding of your repayment obligations, helping you plan your finances with confidence.

To apply for a personal loan with a tenure of 2 years on Bajaj Markets, you need to meet certain eligibility criteria. These include:

• Nationality: Indian citizenship

• Age: Minimum age of 18 years

• Employment: Salaried employee or self-employed individual

• Work Experience: Minimum work experience of 6 months

• Income: A minimum monthly income of ₹9,000 is required

• Credit Score: CIBIL score of 685 or above

Bajaj Markets allows you to apply for a 2-year loan quickly and without any hassle. Follow these steps to get quick approval and funds within minutes:

1. Click on the ‘Apply For Loan’ option

2. Select your profession and enter your mobile number and PIN code

3. Accept the terms and conditions after reading carefully

4. Click on the ‘Proceed’ button

5. Enter or choose the following details as required:

• PAN

• Name as per PAN card

• Date of birth

• Employer category

• Employer/company name

• Net monthly salary

• Email ID

• Gender

• Salary credit mode (Bank or Cash)

6. Click on the ‘Submit’ button

7. Review and select loan offers based on your eligibility 

8. Add additional details if needed

After you submit the application, an executive will contact you to take the process forward. The loan is then subject to verification and approval by the lender. Once approved, the funds are disbursed to your bank account.