Get Personal Loan for 5 Months - Check EMIs & Interest Rates

Salaried Individuals - Check your Loan eligibility!

Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now

A loan for 5 months is a practical solution for addressing temporary financial needs that require immediate attention. Whether it is paying for an emergency medical bill, helping with wedding costs, or covering last-minute travel plans, it gives you quick access to the funds you need.

With manageable repayment terms, it allows you to meet urgent needs without the burden of long-term debt. On Bajaj Markets, you can explore and compare various lenders providing short-term personal loans. Check their interest rates and other charges to choose the option that best suits your needs.

Features and Benefits

Bajaj Markets offers a broad selection of loans, each with distinct features and benefits. This variety ensures you can find the loan that meets your needs. The entire process, from application to processing and repayment, is designed to be convenient.

Here are the advantages you can expect with a loan for 5 months:

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Substantial Loan Amount

Once you fulfil all the eligibility requirements, you may borrow up to ₹50 Lakhs instantly, based on factors like credit score, income, etc.

Competitive Interest Rate

The interest rate for a personal loan here starts at 9.99% p.a., which is competitive and affordable.

No Restrictions on Loan Usage

One of the major advantages of a personal loan is that there are no restrictions on how you can use the funds.

Collateral-Free Loan

Personal loans are typically unsecured, meaning you do not have to put up any assets like your home or car as collateral.

Quick and Convenient Digital Application

The loan application process is entirely digital with a user-friendly interface, allowing you to apply from the comfort of your home.

Complete Transparency

You will not encounter hidden fees or surprise charges, as all terms and conditions are clearly outlined from the start, giving you peace of mind.

Interest Rates and Charges of Lenders Offering Personal Loans for 5 Months

Different lenders available on Bajaj Markets have varying interest rates and charges. Refer to the table below to know the interest charges, processing fees, and other details:

Partner Name	Min Interest Rate	Max Tenure	Processing Fee
Bajaj Finance Limited	10% p.a.	96 months	Up to 3.93% of the loan amount
CASHe	2.79% p.m.	18 months	Up to 5.5% of the personal loan amount + GST
Federal Bank	11% p.a.	48 months	0.70% to 2.80% of the loan amount + 18% GST
Fibe	14% p.a.	36 months	Up to 2% of the loan amount
Finnable	15.95% p.a.	60 months	Up to 3% of total loan amount
IIFL Finance	18% p.a.	42 months	2% to 6% of the loan amount + GST
InCred	16% p.a.	60 months	2%-5% on the sanctioned amount
Kissht	14% p.a.	24 months	3% - 5% of the loan amount
Kotak Mahindra Bank	10.99% p.a.	72 months	Up to 1.10% - 1.50% of the loan amount + GST
KreditBee	14% p.a.	24 months	Up to 3% of the loan amount
L&T Finance	12% p.a.	48 months	Up to 2% of loan amount + GST
MoneyTap	18% p.a.	36 months	5% to 10% of the loan amount
moneyview	1.33% p.m.	60 months	Starting from 2% of the approved loan amount
mPokket	24% p.a.	90 days	₹50 to ₹200 + 18% GST (depending on the loan amount with a maximum APR of 48%)
Muthoot Finance	14.50% p.a.	60 months	2% to 4% of the loan amount
Olyv	18% p.a.	12 months	2% - 12% of the loan amount
PaySense Partners	15% p.a.	60 months	2% - 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher)
Privo	9.99% p.a.	60 months	1%-3% of the loan amount +GST
SMFG India Credit	12% p.a.	60 months	0% - 6% of the loan amount
Upwards	18% p.a.	36 months	Up to 4% of the loan amount
YES BANK	12.50% p.a.	72 months	Up to 2.75% of the loan amount
Zype	18% p.a.	12 months	2% to 6% of the loan amount

Disclaimer: The above-mentioned information is subject to change as per changes in issuers’ policies.

EMI Calculator for a 5-Month Personal Loan

Loan Amount

Tenure

Rate of Interest

Your Monthly Personal Loan EMI

Principal Amount

Total Interest

Total Amount Payable

Amortization Schedule

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Year	Payable Amount	Principal	Interest	Balance

Reasons to Opt for a 5-Month Personal Loan

Emergencies can strike without warning. Often, quick access to funds is the solution to address urgent situations. Personal loans with short tenures are ideal as you can repay them fast and use them without restrictions.

You can use the loan amount for various needs, including:

Wedding Ceremony

Fund unexpected wedding expenses to ensure a smooth celebration without financial strain.

Vacation or Business Trip

Secure funds swiftly for holiday or business trips and take care of travel costs without delays or disruptions.

Debt Consolidation

Combine multiple debts and repay them affordably with the loan and simplify your finances.

Medical Emergency

Cover urgent medical costs without worry and get the necessary treatment without stressing over funds.

Urgent Repairs

Address car or home issues quickly and resolve critical repairs without postponing important fixes.

Significant Personal Expenses

Purchase items like bikes or shop for other big-ticket products to fulfil your personal desires without impacting your savings.

Eligibility Criteria

Check these eligibility criteria quickly before you apply for a personal loan via Bajaj Markets:

You must be a citizen of India
Your CIBIL score must be 600 or higher
You should be at least 18 years old
You need to be either salaried or self-employed
You must have a minimum monthly income of ₹10,000
You should have at least 1 year of work experience

Documents Required

After meeting the eligibility criteria, you also need some documents to apply for the loan. These include:

2 passport-size photographs
Identity Proof: Aadhaar card, PAN card, voter ID, passport, driving licence
Address Proof: Aadhaar card, passport, voter ID, driving licence, telephone bill, electricity bill
Income Proof: Last 3 months’ bank statements or salary slips

How to Apply for a Personal Loan on Bajaj Markets

Follow these quick and easy steps to apply for a personal loan through Bajaj Markets:

Go to the website and click on ‘Loans’
Choose the ‘Personal Loan’ option
Click on ‘Check Offers’
Enter your profession, mobile number, and Pincode
Complete the verification, check the loan offers, and choose a suitable one

Can you get a personal loan for 5 months?

Yes, you can obtain a short-term loan with a 5-month tenure from various lenders through Bajaj Markets.

Start by checking the eligibility criteria and then applying for the loan on the platform. The disbursal process is usually quick, but delays may occur if the submitted documents are incomplete or incorrect.

What is the maximum loan one can get for a 5-month tenure?

For a 5-month tenure, you can secure a loan of up to ₹50 Lakhs via Bajaj Markets. The exact loan amount depends on factors such as your age, income, CIBIL score, and overall financial profile.

What are the advantages of choosing a short-term loan?

Short-term loans are generally easier to get approved for because they pose less risk to the lender, making them an excellent option for covering urgent financial needs. However, keep in mind that the shorter term typically comes with higher monthly payments. Review the EMI amount carefully to ensure it fits your budget and financial plans.

How to calculate the EMI for a personal loan with a 5-month tenure?

It is helpful to calculate your EMI before applying for the loan to understand your future financial commitment. You can use the personal loan EMI calculator on Bajaj Markets for free. Add in the loan amount, interest rate, and tenure to compute EMIs and change the terms as many times as needed.