All about short-term personal loans

Here are the features of short-term loans that you need to know before getting one.
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All about short-term personal loans
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3 min read
8 Jan 2023

Short-term personal loans are nothing but regular personal loans with a shorter repayment tenure. These are usually small-ticket loans, and you get funds immediately after you apply. You can opt for our Insta Personal Loan to cover your expenses, and choose to repay the loan in a short tenure. It is like a short-term loan and is designed to meet the special needs of our customers who may need instant access to funds at any moment.

4 reasons why you should choose our Insta Personal Loan

  1. Pre-assigned limits

    You can check the loan amount that you can borrow without filling out a lengthy application form. We have pre-approved limits for our existing customers, while we instantly generate pre-assigned limits for new customers. Check your Insta Personal Loan offer by simply entering your mobile number and OTP.

  2. Immediate processing

    We drew inspiration from the green channel at international airports and similarly designed Insta Personal Loans. In most cases, you can get funds in your bank account in as little as 30 minutes*.

  3. Flexible loan tenures

    We recognise that no two individuals have the same needs. We provide flexible terms for our Insta Personal Loan that range up to 63 months. In case you want to pay back the loan over a short term, you can choose a lesser loan term.

  4. No hidden charges

    You can read all of our fees and charges on this website as well as in our loan documentation. All our charges are clearly mentioned and there are no hidden charges.

Here is how you can check your Insta Personal Loan offer

Existing customers can check their pre-approved loan limit by just entering their mobile number and OTP. Our technology allows anyone with a valid mobile number to create an Insta Personal Loan offer online. New customers may be required to provide additional documents to complete the loan process. If you don't see an offer or want to borrow more, fill out our regular online application instead. It just takes a few minutes.

With the changing times, an Insta Personal Loan could be the best option for those looking to manage their expenses and repay over a short tenure.

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Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

What is required for a short-term loan?

A short-term loan is nothing but a loan with a short tenure. For a Bajaj Finserv Insta Personal Loan, you do not need to check the eligibility criteria. You can simply enter your mobile number and OTP to check the offer. Depending on your profile, you may be asked to submit some documents such as KYC documents or bank statements.

Is a short-term loan a good idea compared to a long-term loan?

The loan tenure you choose entirely depends on your needs. In a short-term loan, the tenure is typically just a few months. This means that the overall interest you pay is lower compared to a long-term loan. On the flip side, your EMIs will be comparatively higher. You can choose the loan amount and tenure based on your needs and repayment capacity. Use our Insta Personal Loan EMI Calculator to decide your loan amount based on monthly instalments.

How does a short-term loan work?

A short-term loan works just like a normal personal loan, where you borrow a certain amount and repay it in EMIs over a fixed tenure.

How can you pay back your short-term loan?

You can set up a NACH mandate with your bank to repay the loan.

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