Personal Loan of ₹60,000

You can easily get a personal loan of ₹60,000 through Bajaj Markets via a simple online application process. The interest charged on the loan starts from just 10% p.a. Your CIBIL score may play a role in determining your loan eligibility and the interest rate offered. 

On Bajaj Markets, choose from multiple lenders, enjoy quick approval and benefit from zero hidden charges. To plan the borrowing better and ensure timely loan repayments, consider using the personal loan EMI calculator. It computes the EMI at various tenures, allowing you to make an informed decision.

Obtain a ₹60,000 personal loan from various lenders on Bajaj Markets without collateral. Go through the table below for the maximum tenure and interest rates of various lenders to identify the most suitable option:

The following example will help you understand how tenure affects your loan EMI. Suppose you take a loan of ₹60,000 at an interest rate of 10% per annum. Depending on the selected tenure, the instalment amount will be as shown in the table below.

Some lenders may charge a processing fee for the loan. Additionally, if you choose to close the loan early or make partial payments, you may incur a penalty fee. Find the details below: 

You can manually calculate your ₹60,000 instant loan EMI using a simple formula. Here is how:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Here:

• P = Loan amount

• R = Monthly interest rate (Annual interest rate/12/100)

• N = Loan tenure in months

Consider this example:

Assuming you are applying for a personal loan of ₹60,000 at an interest rate of 10% per annum for 40 months, the EMI will be ₹1,770. The total interest payable will be ₹10,802, bringing the total repayment amount to ₹70,802.

A ₹60,000 loan at a 10% interest rate for 6 months includes the following amortisation breakdown: 

A ₹60,000 personal loan can have either a positive or negative impact on your CIBIL score and financial profile. Here is how: 

• Pre-approval Impact

When you apply for a personal loan, the lender reviews your credit report through a hard inquiry. This may result in a temporary decrease in your CIBIL score. The extent of the impact depends on your credit history and recent inquiries. 

• Post-repayment impact

Timely repayments contribute to an improved CIBIL score, demonstrating responsible credit behaviour. A strong repayment history enhances eligibility for future loans with favourable terms.

An instant loan of ₹60,000 can help you cover various urgent and planned personal expenses. Here is how you can use it:  

• Sudden Trips

Urgent travel plans often require immediate funds. A ₹60,000 loan can help you manage travel expenses, including tickets, hotel bookings, and other essentials.

• Home Remodelling

Home renovation projects can exceed budgets. The loan provides the extra financial support needed to complete the project without disruption.  

• Medical Emergencies

Medical emergencies can result in unexpected costs that insurance may not fully cover. A personal loan can help manage these high expenses and provide financial relief during urgent treatments and procedures. 

• Wedding Expenses

Weddings involve significant costs, and additional expenses can arise unexpectedly. A personal loan helps cover unplanned costs during the ceremony.  

• Moving to a New Place

Relocation often involves urgent expenses. A personal loan can assist with shifting costs, rent deposits, and other relocation-related expenses, ensuring a smooth transition.