Personal Loan of ₹85,000

A personal loan of ₹85,000 can help you manage various financial needs, whether planned or unexpected. It can be used for medical expenses, education, travel, home renovations, or any urgent requirement.

Your Personal Loan EMI

₹ 1,806

Total Interest Amount

₹ 23,335

Principal Amount

₹ 85,000

Total Payable Amount

₹ 108,335

Loan Amount

Interest Rate

- +

Tenure

- +

Instant Approval

You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

Lenders Offering Personal Loans of ₹85,000 on Bajaj Markets

Many lending partners on Bajaj Markets offer personal loans of ₹85,000 with competitive interest rates and flexible repayment options. You have the opportunity to compare multiple lenders, review their loan terms, and select the offer that best meets your financial needs.

Lenders	Maximum Tenure	Minimum Interest Rate (p.a.)
Bajaj Finance	96 months	10.00%
Kotak Mahindra Bank	72 months	10.99%
Federal Bank	48 months	11.00%
L&T Finance	48 months	12.00%
SMFG India Credit	60 months	12.00%
Fibe	36 months	14.00%
Kissht	24 months	14.00%
KreditBee	24 months	14.00%
PaySense	60 months	14.00%
Muthoot Finance	60 months	14.50%
Finnable	60 months	15.95%
InCred	60 months	16.00%
Moneyview	60 months	16.00%
IIFL	42 months	18.00%
MoneyTap	36 months	18.00%
Olyv	12 months	18.00%
Upwards	36 months	18.00%
Zype	12 months	18.00%
CASHe	18 months	2.79% p.m.

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

EMI for a Personal Loan of ₹85,000 Over Varying Tenures

When you take a personal loan of ₹85,000 at an interest rate of 10% per annum, your EMI, total interest, and overall repayment amount will depend on the selected tenure. The table below provides a detailed breakdown of different repayment periods.

Tenure	EMI Amount	Total Interest Payable	Total Repayment Cost
1 Year (12 Months)	₹7,473	₹4,674	₹89,674
3 Years (36 Months)	₹2,743	₹13,738	₹98,738
5 Years (60 Months)	₹1,806	₹23,360	₹1,08,360
8 Years (96 Months)	₹1,290	₹38,821	₹1,23,821

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

Fees and Charges for a Personal Loan of ₹85,000

You will also incur some additional fees when getting an instant personal loan. Here are the details:

Fees and Charges	Details
Processing Fees	Up to 12% of the loan amount
Foreclosure Charges	Up to 6% of the amount
Part-payment Charges	Up to 20% of the amount

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

How to Calculate Your Personal Loan EMI

Here is how you can calculate your Personal Loan EMI:

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

Where:

P = Principal loan amount

R = Monthly interest rate

N = Loan tenure in months

For example, you have taken an instant personal loan of ₹85,000 from Bajaj Markets. The interest rate is 10% per annum, with a loan tenure of 70 months. Using the formula, the EMI amounts to ₹1,608. The total interest will be ₹27,532, making the total repayment to be ₹1,12,532.

Amortisation Table for a Personal Loan of ₹85,000

The table below illustrates the EMI breakdown for an ₹85,000 loan at 10% per annum over a 6-month tenure. The interest component reduces over time, while a larger share is allocated towards repaying the principal, gradually lowering the outstanding balance.

Month	Payable Amount	Principal	Interest	Balance
Month 1	₹14,583	₹13,874	₹708	₹71,126
Month 2	₹14,583	₹13,990	₹593	₹57,136
Month 3	₹14,583	₹14,107	₹476	₹43,029
Month 4	₹14,583	₹14,224	₹359	₹28,805
Month 5	₹14,583	₹14,343	₹240	₹14,462
Month 6	₹14,583	₹14,462	₹121	₹0

Disclaimer: These are approximate values and are meant for illustration only. For actual EMI values, reach out to the lender.

Impact of Pre and Post-personal Loan Approval on CIBIL Score

Your CIBIL score, ranging from 300 to 900, reflects your creditworthiness and financial reliability. A personal loan can impact your score in the following ways:

Pre-approval Impact

When applying for a personal loan, the lender carries out a detailed review of your credit report. This inquiry is recorded and may cause a slight temporary dip in your credit score.

Post-repayment Impact

Making timely repayments improves your credit score by demonstrating responsible debt management. Consistent payments enhance your credit profile, increasing the likelihood of securing future credit on better terms.

Uses of a Personal Loan of ₹85,000

You can use a personal loan of ₹85,000 for various financial needs, providing flexibility and ease in managing expenses. Here are some common purposes:

Home Renovation

Upgrading a kitchen, repainting walls, or repairing structural damages requires significant funds. A personal loan facilitates these home improvements, enhancing living spaces, increasing property value, and allowing expenses to be managed without disrupting monthly budgets.

Travel

Planning an international or domestic trip involves expenses like airfare, accommodation, sightseeing, and shopping. A personal loan of ₹85,000 provides the financial backing to embark on these journeys while managing repayments through structured EMIs.

Relocation Costs

Relocation involves costs such as hiring movers, transportation, and security deposits. This loan offers financial aid, ensuring a smooth transition while covering relocation expenses without immediate financial strain.

Medical Bills

Medical emergencies often demand immediate funds. These loans can cover hospital bills, doctor’s fees, medications, or surgeries. When medical insurance is insufficient, borrowing ensures prompt treatment without added financial pressure, providing access to the best possible care.

Substantial Purchases

Acquiring essential items like furniture, electronic gadgets, or home appliances can strain personal finances. A personal loan offers the flexibility to make these purchases immediately and spread repayments over time through affordable EMIs.

Debt Consolidation

Managing multiple high-interest loans can be overwhelming. A personal loan of ₹85,000 helps combine these debts into a single EMI, simplifying repayment and reducing overall interest costs. It streamlines financial management and ensures timely payments.

Other Instant Personal Loan Options

1,000 Personal Loan	2,000 Personal Loan	3,000 Personal Loan
5,000 Personal Loan	10,000 Personal Loan	15,000 Personal Loan
20,000 Personal Loan	25,000 Personal Loan	30,000 Personal Loan
40,000 Personal Loan	50,000 Personal Loan	60,000 Personal Loan
70,000 Personal Loan	1 Lakh Personal Loan	2 Lakh Personal Loan
3 Lakh Personal Loan	4 Lakh Personal Loan	5 Lakh Personal Loan
6 Lakh Personal Loan	8 Lakh Personal Loan	10 Lakh Personal Loan
15 Lakh Personal Loan	20 Lakh Personal Loan	25 Lakh Personal Loan
30 Lakh Personal Loan	50 Lakh Personal Loan

Frequently Asked Questions

What is the interest rate on a ₹85,000 personal loan?

The interest rate for a ₹85,000 personal loan depends on the lender, your credit score, and the chosen repayment tenure on Bajaj Markets. Generally, rates start from 10% per annum, but they may vary based on eligibility and loan terms.

What is the repayment tenure for a ₹85,000 personal loan?

At Bajaj Markets, lenders provide flexible repayment tenures ranging from a few months to up to 96 months, depending on the loan terms. You can select a tenure that aligns with your financial situation and repayment capacity.

Can I get an ₹85,000 loan without providing any collateral?

Yes, it is possible to get a ₹85,000 personal loan without collateral, as personal loans are unsecured. However, approval relies on key factors such as your CIBIL score, income, employment type, and repayment capacity.

How can I apply for a ₹85,000 personal loan?

You can apply for a personal loan of ₹85,000 through Bajaj Markets. This platform allows you to compare lenders, calculate the EMIs, and apply for the loan at a single place.

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Personal Loan of ₹85,000

Lenders Offering Personal Loans of ₹85,000 on Bajaj Markets

EMI for a Personal Loan of ₹85,000 Over Varying Tenures

Fees and Charges for a Personal Loan of ₹85,000

How to Calculate Your Personal Loan EMI

Amortisation Table for a Personal Loan of ₹85,000

Impact of Pre and Post-personal Loan Approval on CIBIL Score

Uses of a Personal Loan of ₹85,000

Other Instant Personal Loan Options

Frequently Asked Questions

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