Learn more about interest rates, eligibility criteria, and the benefits of opting for a 4-year personal loan, on Bajaj Markets.
A personal loan with a 4-year tenure could be an excellent choice for managing medium-term financial needs. Whether it is for home renovations, higher education, or unexpected expenses, this tenure strikes the right balance between manageable EMIs and timely repayment.
You can apply for personal loans on Bajaj Markets and receive up to ₹55 Lakhs with competitive interest rates and simple documentation.
A 4-year personal loan presents several advantages, making it a reliable solution for medium-term financial requirements. Consider the following benefits:
Spreading repayments over four years allows for lower monthly instalments, making it easier to manage finances without stress.
Although slightly longer than short-term credit, a four-year loan still helps limit total interest costs when compared to extended loan tenures.
Maintaining regular repayments throughout the tenure helps improve your credit score and establishes a consistent repayment record.
Bajaj Markets features a user-friendly online process with minimal paperwork and fast loan approval for added ease.
Loans with a 4-year term are processed efficiently, allowing you to address urgent expenses such as medical emergencies, education fees, weddings, or travel plans without delay.
Opting for a 4-year personal loan comes with a range of features and advantages, making it a reliable financial solution for your needs:
Apply with basic documentation for quicker loan approval
Save on total interest due to the shorter repayment duration
Repay the loan within two years and avoid long-term financial commitments
Effectively manage routine expenses without impacting your monthly budget
Support business cash flow during seasonal income changes
Access immediate funds for urgent medical, personal, or business-related needs
Well-suited for both salaried individuals and self-employed professionals
Here are some drawbacks of a 4-year personal loan:
Processing fees and other associated costs may increase
Monthly instalments remain on the higher side
Interest rates on unsecured loans are comparatively high
Certain lenders have strict requirements for documentation, income, and credit score
Delayed or missed payments negatively affect your credit score
The table below shows the interest rates offered by various lenders on $$%BrandName%$$.
Available Offerings |
Max. Loan Amount |
Min. Interest Rate |
Max. Tenure |
Processing Fee |
Privo Personal Loan |
₹5 Lakhs |
9.99% |
60 months |
1% to 3% of the loan amount + GST |
Bajaj Finance Personal Loan |
₹55 Lakhs |
10.00% |
96 months |
Up to 3.93% of the loan amount |
Kotak Mahindra Bank Personal Loan |
₹40 Lakhs |
10.99% |
72 months |
1.10% - 1.50% of the loan amount + GST |
KreditBee Personal Loan |
₹10 Lakhs |
12.00% |
60 months |
Up to 5.1% + GST |
L&T Finance Personal Loan |
₹15 Lakhs |
12.00% |
48 months |
Up to 3% of loan amount + GST |
YES BANK Personal Loan |
₹50 Lakhs |
12.50% |
72 months |
1.15% to 2.75% of the loan amount |
Federal Bank Personal Loan |
₹5 Lakhs |
12.75% |
48 months |
2% to 3% of the loan amount + 18% GST |
Disclaimer: The details mentioned are subject to change at the lender’s discretion.
Here are the main criteria that represent your creditworthiness for personal loan for a 4-year tenure.
Your credit score determines your personal loan interest rate. A score above 700 often reflects good creditworthiness, which helps in securing loans at reduced interest rates.
Lenders pay close attention to your income when assessing your loan application. A consistent and increasing income enables you to qualify for lower interest rates. Lesser or irregular income attracts higher rates, as it indicates a higher lending risk.
The interest rate also depends on the amount you plan to borrow. Lenders offer lower interest rates for higher loan amounts when your salary supports repayment. Higher rates apply when the loan amount goes beyond your repayment capacity.
Relation with the Lender
Your relationship with the lender can directly influence the personal loan terms you receive.
If you already hold a salary account or use other financial products with the lender, it shows consistency and reliability. Such existing ties often help you access lower interest rates and better loan offers.
Employer’s Reputation
Lenders consider your employer’s standing when evaluating your loan application.
Being employed by a reputable organisation or a government body reflects financial stability.
This can make you eligible for more attractive interest rates, as lenders view you as a lower-risk borrower.
Here is the table showing the EMIs and interests for different loan amounts at 7.99% for a 4-year loan tenure:
Description |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
₹5 Lakh Personal Loan EMI for 4 Years |
₹12,678 |
₹1,08,586 |
₹6,08,586 |
₹6 Lakh Personal Loan EMI for 4 Years |
₹15,214 |
₹1,30,304 |
₹7,30,304 |
₹7 Lakh Personal Loan EMI for 4 Years |
₹17,750 |
₹1,52,021 |
₹8,52,021 |
₹8 Lakh Personal Loan EMI for 4 Years |
₹20,286 |
₹1,73,738 |
₹9,73,738 |
₹9 Lakh Personal Loan EMI for 4 Years |
₹22,822 |
₹1,95,456 |
₹10,95,456 |
Disclaimer: Note that these are approximate values meant only for illustration. For actual EMI values, reach out to your lender.
Here are some simple tips to get a personal loan for 4-year at the lowest interest rates:
Maintain a healthy credit score and good repayment history
Compare interest rates with different lenders to make an informed decision
Keep your debt-to-income ratio low to show low dependence on credit
Add a co-applicant if your credit score is low to increase the chances of approval
You can easily get a personal loan for four years. The loan tenure depends on your income, credit score, and repayment ability.
You can get loan amounts ranging up to ₹55 Lakhs through lenders on $$%BrandName%$$.
Lenders offer easy repayment tenure according to your income and repayment stability. The tenure can range up to 8 years.
Yes, you can prepay your 4-year loan. However, before doing so, contact the lender and get all the information to pre-close the loan. You may have to pay a foreclosure fee when closing the loan.
A single missed EMI on your loan can have a significant effect on your credit score, lead to increased fines, and restrict your future borrowing possibilities. Long-term credit damage and legal issues might ensue.