Loans up to 25 Lakh | Approval in 3 Minutes | Flexible Repayment
Availing a short-term personal loan can help you manage unforeseen emergencies. Depending on the lender, you can repay this loan within a short tenure of 6-60 months. A short-term loan can tackle your planned and unplanned expenses, from funding your dream vacation to paying your medical bills.
Moreover, you can apply for a short-term personal loan online and get it approved within a few minutes. This is possible because of simple eligibility criteria and a minimal documentation process.
When planning to apply for a short-term loan, all you need to do is visit Bajaj Markets and avail exciting loan deals from various lenders.
When thinking of applying for an instant short-term loan online, meeting the following short-term loan eligibility criteria is vital:
Nationality: Indian
Age: Between 21-60 years of age
Employment Criteria: Salaried and employed in a reputed firm
CIBIL/Credit Score: 750 or above
Salary: Depends on the city you reside in and the criteria set by the lender
You can use a personal loan eligibility calculator to estimate the sanctioned amount before applying for an instant short-term loan.
Name of the Lender |
Applicable Interest Rates |
Standard Chartered Bank |
11.00% - 15.00% p.a. |
Tata Capital Personal Loan |
11.25% - 14.49% p.a. |
Kotak Mahindra Bank Personal Loan |
10.50% - 16.99% p.a. |
YES Bank Personal Loan |
20.00% - 22.00% p.a. |
SMFG India Credit |
11.99 % p.a. onwards |
Kreditbee |
18% - 29.95% p.a. |
HDBFS Personal Loan |
14.99% p.a. |
Cashe |
2.25% per month onwards |
Disclaimer: The current interest rates are subject to change at the lender’s discretion. So, check the lender’s website before availing these short-term loans.
Here’s a list of a few lenders offering affordable short-term personal loans:
You can avail these loans at nominal interest rates starting from 11.99% p.a. Additionally, the lender disburses your loan quickly, thanks to its speedy approval process.
Interest rate |
Minimum Monthly Salary |
11.99% p.a. onwards |
₹20,000 |
With annual interest rates ranging from 18% to 29.95%, Kreditbee is an online platform providing affordable short-term personal loans. All you have to do is submit minimal documents for quick and easy loan approval.
Interest Rates |
Loan Amount |
Tenure |
18%-29.95% p.a. |
₹1,000 - ₹3 Lakhs |
62 days to 24 months |
You can avail personal loans from Cashe at monthly interest rates of 2.55% onwards. Moreover, you can even get your loan sanctioned with funds credited within 24 hours.
Interest Rate |
Loan Amount |
Tenure Duration |
Minimum Monthly Income |
Processing Fees |
2.25% per month onwards |
₹1,000 to ₹4 Lakhs |
90 days to 540 days |
₹12,000 |
Up to 3% |
Disclaimer: The current interest rates are subject to change at the lender’s discretion. So, check the lender’s website before availing these short-term loans.
Submit the following documents to get access to quick funds. However, note that documentation can vary from one lender to another.
PAN Card
Proof of residence (Passport/Driver’s licence/Voter’s ID/Phone or Electricity bill)
ID proof
Recent passport-size photograph(s)
Salary slips for last 3 months
Latest 3 months’ bank statements (salary account)
Penalties: You have to pay penalty interest on the amount due if you default on your monthly repayments. This penalty interest amount increases daily.
Processing fees: When availing a loan, you have to pay a small amount towards processing charges. Mostly, these charges are not inclusive of the GST levied.
Delayed Payment Charges: Note that defaults in EMI can also attract late payment fees.
Applicable interest rates: Since the interest rate is calculated depending on the loan amount and tenure, you can repay the principal and interest within a shorter timeline at cost-effective rates. This way, a short-term loan is more affordable than a long-term loan.
For example, PaySense charges monthly interest rates ranging from 1.4% to 2.3%, whereas CASHe has monthly interest rates starting at 1.5%.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Loan amounts for short-term loans can range from ₹1,000 to up to ₹3 Lakhs.
No, there is usually no need for collateral as security for the loan amount.
There are different repayment terms based on the lender. While you can repay a few loans within months, several other loans have a repayment tenure of up to 5 years.
A short-term loan may be the best option for someone who requires immediate funds and can repay the amount (plus interest) within a short time frame.
A short-term personal loan may not significantly impact your credit score. However, EMI defaults can decrease your credit score. So, it is ideal to pay your instalments without delay to maintain a good track record.
Short-term loans are used for various reasons, including weddings, vacations, renovations, paying off debts, and emergency fund requirements.
Short-term loan interest rates vary across lenders and tenure durations. As you are not pledging any collateral, lenders can charge high interest rates considering the risk factor.