Get personal loans with up to 8 years tenure, low interest rates, and amounts up to ₹55 Lakhs on Bajaj Markets.
An 8-year personal loan can be a practical solution for meeting various financial requirements, such as managing unexpected expenses or funding life goals. On Bajaj Markets, Bajaj Finance offers personal loans with attractive features, including loan amounts of up to ₹55 Lakhs to cover your needs comprehensively.
You can repay the loan over a flexible tenure of up to 96 months (8 years), ensuring affordability and ease of repayment. With interest rates starting at 10.00% p.a., these loans can be budget-friendly. The application process is seamless, requiring minimal documentation and offering quick disbursal.
A Personal Loan EMI Calculator is an online tool that estimates the monthly instalments (EMIs) based on the loan amount, interest rate, and repayment tenure. It is user-friendly and helps borrowers plan their repayments effectively. Here are the steps to use an EMI calculator:
Enter the loan amount you wish to borrow
Input the applicable interest rate (e.g., 10% p.a.)
Select the repayment tenure, such as 96 months (8 years)
Click ‘Calculate’ to view the EMI amount along with other details, such as the total interest payable, principal amount, and the total payable amount
Example
If you borrow ₹20 Lakhs personal loan at an interest rate of 10.00% p.a. for an 8-year tenure, the calculator will show:
EMI: ₹30,348
Total Interest Payable: ₹9,13,439
Total Amount Payable (Principal + Interest): ₹29,13,439
This example demonstrates how the calculator helps you understand repayment obligations clearly, ensuring better financial planning.
On Bajaj Markets, an 8-year personal loan comes with a loan amount of up to ₹55 Lakhs. Here are the details:
Particulars | Details |
---|---|
Maximum Loan Amount |
₹55 Lakhs |
Minimum Loan Amount |
₹40,000 |
Starting Interest Rate |
10.00% p.a. |
Number of Partners Available |
1 |
Disclaimer: The details mentioned are subject to change at the lender’s discretion.
Here are some important benefits of selecting a long-term personal loan on Bajaj Markets:
With reduced monthly instalments, you can manage repayments more comfortably. This ensures minimal strain on your monthly personal finances.
You can borrow amounts of up to ₹55 Lakhs to meet substantial financial needs. This makes it suitable for both large and small-scale requirements.
Repayment terms extend up to 96 months, allowing you to choose a duration that aligns with your financial plan. A longer tenure helps lower EMIs, while shorter terms save on interest.
These loans are unsecured, so you do not need to provide collateral. Additionally, you have the freedom to use the funds for varied purposes without restrictions.
Once approved, the loan amount is transferred to your bank account within minutes. This ensures you get timely access to funds when needed most.
The lender applies specific interest rates and charges that influence the total repayment amount. Here are the details for the same:
Available Offering | Max. Loan Amount | Min. Interest Rate | Max. Tenure | Processing Fees |
---|---|---|---|---|
₹55 Lakhs |
10.00% p.a. |
96 months |
Up to 3.93% of the loan amount (Inclusive of applicable taxes) |
Disclaimer: The details mentioned are subject to change at the lender’s discretion.
Personal loan EMIs over an 8-year tenure depend on factors such as the loan amount, applicable interest rate, and repayment period. At an interest rate of 10.00% p.a., here is an overview of EMIs for various loan amounts when applying through Bajaj Markets:
Loan Amount | Interest Rate | EMI Amount for an 8-Year Tenure |
---|---|---|
₹10 Lakhs |
10.00% p.a. |
₹15,174 |
₹20 Lakhs |
10.00% p.a. |
₹30,348 |
₹30 Lakhs |
10.00% p.a. |
₹45,522 |
₹40 Lakhs |
10.00% p.a. |
₹60,696 |
₹50 Lakhs |
10.00% p.a. |
₹75,870 |
Disclaimer: The EMI calculation provided is for reference only, and the actual amount may vary based on your loan terms.
Eligibility criteria for an 8-year personal loan are set by lenders to ensure you can repay over a longer tenure. On Bajaj Markets, the eligibility requirements include:
Nationality: You are required to be an Indian citizen
Age: You need to be at least 18 years old
Employment: You can be either a salaried or self-employed individual
Income: A minimum monthly income of ₹25,000 is required
Work Experience: At least 6 months of work experience is necessary
On Bajaj Markets, you need to provide specific documents to verify identity, income, and address when applying for an 8-year personal loan. These documents include:
Document Type | Accepted Documents |
---|---|
Identity Proof |
PAN Card, Aadhaar Card, Voter ID, Passport, Driving License |
Address Proof |
Aadhaar Card, Voter ID, Passport, Driving License, Electricity Bill, Telephone Bill |
Income Proof |
Bank statements or salary slips for the last 3 months |
Applying for an 8-year personal loan is an easy online process that can be completed in a few steps. Once verified and approved, the funds are quickly transferred to your bank account. These steps include:
Click on the ‘Apply For Loan’ option on this page
Choose your profession from the dropdown options
Enter your mobile number and PIN code
Accept the terms and conditions after reading carefully
Click on ‘Proceed’
Enter or choose the following details- including PAN, Name as per PAN card, Date of birth, Employer category, Employer/company name, Net monthly salary, Email ID, Gender, and Salary credit mode (usually via bank transfer)
Click on ‘Submit’
Review and select loan offers based on your eligibility
Provide any additional details if requested
After your application is approved and you accept the offer, the loan funds will be transferred straight to your bank account.
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Yes, Bajaj Finance, on Bajaj Markets, offers personal loans with a repayment tenure of up to 8 years (96 months).
You can get a personal loan of up to ₹55 Lakhs for an 8-year loan tenure, subject to eligibility criteria.
Yes, it is possible to prepay or foreclose such a loan on Bajaj Markets. However, lenders may impose fees depending on the loan type and their terms.