A landlord can use a Personal Loan for furnishing or repairs before letting a flat, subject to eligibility. It is a personal borrowing decision, unrelated to the tenant's rental deposit, and the monthly instalment should be paid from the landlord's own income, not counted on future rent.
Worked example: Ankit in Bengaluru
Ankit is 31 and works as a salaried cloud engineer in Bengaluru, with a pay packet of Rs. 82,000 and a CIBIL score that reads 768. His new landlord asked for a rental deposit of 6 months' rent, Rs. 2.4 lakh. He paid Rs. 1.3 lakh of the Rs. 3.3 lakh total himself and took a loan of Rs. 2 lakh for the rental deposit gap at an illustrative 13.5% per annum. His equated monthly instalment (EMI) options were 24 and 36 months.
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1]. Here P = Rs. 2,00,000, R = 13.5 ÷ 1,200 and N = months.
| Tenure | Monthly EMI (Rs.) | Total interest (Rs.) | EMI as share of salary (%) |
|---|
| 24 months (2 years) | 9,555 | 29,330 | 11.7 |
| 36 months (3 years) | 6,787 | 44,334 | 8.3 |
Last updated: 23rd October, 2026
Taking 36 months shaves Rs. 2,768 off the monthly outgo and costs Rs. 15,004 more in interest. The processing fee here is limited to Rs. 8,260. Ankit chose 24 months, so the loan ends before his 3-year lease, when the deposit comes back.
What can delay approval: a CIBIL score below 650 or existing EMIs that take up a large share of your income. Names or addresses that do not match across documents, and more than one loan application in the same month, can also slow it down.
Need to pay a rental deposit before you move? With a Bajaj Finance Personal Loan, you can borrow Rs. Rs. 40,000 to Rs. Rs. 55 lakh, subject to eligibility. Check your loan offer with your phone number and a one-time password (OTP) → apply online → receive funds within 24 hours* of approval.
