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A ₹5000 personal loan can help you get the needed funds in a short-term period. You can get a personal loan on Bajaj Markets from multiple lenders with interest rates starting from 14% p.a. Furthermore, you can repay the loan as per your convenience over tenures of up to 96 months. Get the loan through a simple online application and hassle-free documentation processes.

Interest Rate for a Personal Loan of ₹5,000

Our Partners
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Maximum Loan Tenure
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Maximum Loan Amount
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Minimum Interest Rate
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KreditBee

2 years

₹4 Lakhs

18% p.a.

4.1
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Kissht

24 months

₹4 Lakhs

14% p.a.

4.2
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mPokket

120 days

₹45,000

24% p.a.

4.1
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PaySense Partners

5 years

₹5 Lakhs

15% p.a.

4.3
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Olyv

12 months

₹5 Lakhs

1.5% p.m.

4.1
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Zype

1 Year

₹5 Lakhs

18% p.a.

4
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*Disclaimer: Interest rates mentioned in the above table can vary from one lender to another and are subject to change.

Calculate the EMI for a Personal Loan of ₹5,000

Loan Amount
Tenure
Months
Rate of Interest
Personal Loan
Your Monthly Personal Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
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Year EMI Principal Interest Balance

EMI for a Personal Loan of ₹5,000 Over Varying Tenures

Here is how the EMI for a personal loan of ₹5,000 may differ depending on the chosen tenure. For this example, let’s assume that the interest rate offered by your lender is 14% p.a. In this case, the EMIs will be as follows:

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

3 months

₹1,705.71

₹117.12

₹5,117.12

6 months

₹867.69

₹206.14

₹5,206.14

9 months

₹588.46

₹296.18

₹5,296.18

12 months

₹448.94

₹387.23

₹5,387.23

15 months

₹365.29

₹479.29

₹5,479.29

18 months

₹309.58

₹572.37

₹5,572.37

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Eligibility Criteria & Document Required for a Personal Loan of ₹5,000

Take a look at the eligibility criteria before you start to fill out the application for a personal loan of ₹5,000:

  • Nationality: Indian

  • Age: 18 years and above

  • Nature of Employment: Self-employed or salaried individual

  • Minimum Work Experience: 2-3 years

  • Credit Score: 700 or higher

Also, submit the following documents to get a personal loan of ₹5,000:

  • Proof of identity such as your PAN card, Aadhaar card etc.

  • Address proof such as your passport, electricity bill, ration card etc.

  • Salary slips of the last 3 months (for salaried individuals)

  • Bank account statement of the last 6 months

  • 2 passport-sized photographs of the applicant

 

The requirements may vary from one lender to another. Ensure to get a complete list of the paperwork required before applying for the loan.

Disclaimer

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.

Frequently Asked Questions

What credit score do I need for a ₹5000 instant loan?

For a ₹5000 instant personal loan, you need a credit score of at least 650.

Can I get a personal loan if my salary is ₹5000?

A loan applicant must earn a minimum of ₹15000 or more every month to meet the common personal loan eligibility criteria. However, this requirement may vary from one lender to another. So, get a complete understanding of your chosen lender's eligibility criteria before applying.

Can I get a ₹5000 loan without collateral?

Yes, you can easily get a ₹5000 personal loan without any collateral.

Which is the best bank for a ₹5000 personal loan?

Different lenders offer different interest rates, repayment tenure, loan features, etc. Thus, it is best to compare offers from different lenders. Assess which loan offer best suits your needs and preferences.

How can I get a ₹5000 personal loan without documents?

You should have all the documents at hand when applying for a personal loan.

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