Rs. 40000 - Rs. 55 lakh
You may be eligible for a pre-approved offer
Enter mobile and OTP | Quick online approval | Get money in a day*
All you need to know about instant personal loans
An instant personal loan offers a quick and straightforward way to access funds for various needs, such as emergencies or personal projects. The key advantage is the easy approval process, which allows borrowers to receive funds rapidly without extensive paperwork or delays. These loans are designed for convenience, with many lenders providing instant loan disbursement upon meeting basic eligibility criteria like age, income, and credit score.
✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.
With fast processing and minimal hassle, instant personal loans are ideal for those needing immediate financial relief or quick access to cash without lengthy approval procedures.
Features and benefits of instant personal loan
- High-value and collateral-free loan
Get funding up to Rs. 55 lakh without having to pledge an asset as security. - Instant loan approval
Avail an instant personal loan on simple eligibility terms to get approval within 5 minutes*. - Minimal documentation
Submit your basic documents and get your application processed quickly. - Swift disbursal
Obtain money in the bank within 24 hours* of instant loan approval and document verification. - Convenient repayment
Adjust your EMIs to your income with a flexible repayment term of up to 96 months. - Nil hidden charges
Apply for an instant personal loan online without worry, knowing that you enjoy 100% transparency in loan dealings. - Flexi Hybrid Term Loan
Opt for the Flexi Hybrid Term Loan to pay interest-only EMIs for a part of the tenure and make multiple withdrawals and deposits.
Instant personal loan from Bajaj Finance
Use an instant personal loan to cater to unplanned expenses that come your way. You can repay the funds at your convenience over a repayment term of up to 96 months. Bajaj Finance offers competitive interest rates on personal loan offerings to make repayment affordable for you. Check the other fees and charges to make a repayment plan before applying. You are assured of zero hidden charges.
For flexibility in borrowing, we offer the Flexi Hybrid Term Loan. It allows you to make multiple withdrawals and deposits from your pre-approved sanction on the go. You do not incur additional charges to withdraw or pre-pay funds. Moreover, you pay interest-only EMIs for the initial part of the repayment term (Up to 2 years). This allows you to access instant funds and ease your way into repayment.
Also read: can I get instant personal loan in 2 minutes
Types of instant personal loans in India
Instant personal loans are suitable for meeting diverse urgent funding needs, such as:
Instant loan for wedding: An instant loan for a wedding provides quick access to funds for covering wedding expenses such as venue, catering, and decorations. With minimal paperwork and fast approval, these loans help manage the financial demands of a wedding, allowing you to celebrate without worrying about immediate financial constraints.
Instant loan for higher education: An instant loan for higher education offers rapid funding to cover tuition fees, books, and other educational costs. Designed for swift approval, it helps students or their families meet educational expenses without delays, ensuring smooth academic progress.
Instant loan for travel: An instant loan for travel provides immediate funds for booking flights, accommodations, and other travel-related expenses. This type of loan is ideal for those who need quick financing to take advantage of travel opportunities or handle unexpected travel costs.
Instant loan for home renovation: An instant loan for home renovation allows homeowners to quickly access funds for remodelling projects or repairs. With a streamlined approval process, this loan helps facilitate timely improvements and upgrades to your living space.
Instant loan for medical emergencies: An instant loan for medical emergencies offers immediate financial support for urgent medical treatments or hospitalizations. This loan type ensures you have quick access to necessary funds during critical health situations, providing peace of mind in emergencies.
Instant loan for second-hand car purchase: An instant loan for a second-hand car purchase provides fast financing for buying used vehicles. With easy approval and quick disbursement, this loan helps you secure a vehicle promptly without the need for extensive delays or lengthy application processes.
Opt for an instant approval personal loan online as per your financing needs. Use the online personal loan EMI calculator to estimate your fixed monthly outgo and choose a repayment term accordingly.
Eligibility criteria for instant personal loan
You can easily get the funds you need with the below criteria:
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Eligibility criteria
- Nationality: Indian
- Age: 21 years to 80 years.
- Employed with: Public, private, or MNC.
- CIBIL Score: 685 or higher.
- Customer profile: Self-employed or Salaried
*You should be 80 years or younger, at the end of the loan tenure.
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Documents required
Personal loan documents required for our loan are:
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Piped gas bill
- Pension order
- Letter of Allotment of Accommodation Issued by Employer
- Property / Municipal tax receipt
- Utility bill
- Phone bill
- Real-time image / photograph
- Ration card
Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
These personal loan eligibility criteria are set to ensure that applicants have the necessary qualifications, characteristics, or circumstances to be considered suitable.
Type of documents and their examples
Type of document | Requirement |
Proof of identity | PAN card, Aadhaar Card, voter ID, passport, or any other government-issued photo identity proof |
Proof of address | Aadhaar Card, voter ID, passport, ration card, utility bills, or any other government-issued proof of address |
Income proof | Salary slips for the last 3 months and bank account statements for the previous 3 months |
Instant personal loan interest rate and charges
The instant personal loan interest rate is the percentage of the loan amount that borrowers pay to the lender as the cost of borrowing. For personal loan instant approval, this rate is based on factors like creditworthiness. With personal loan instant disbursal, you receive funds quickly when approved. Personal loan charges include processing fees, a one-time cost for loan application handling, and foreclosure charges, which are incurred if the loan is paid off early. Bajaj Finance offers competitive personal loan interest rate. Moreover, you are assured of zero hidden charges and 100% transparency
How to apply for personal loan
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Step-by-step guide to apply for a personal loan
- Click on ‘CHECK ELIGIBILITY’ on this page.
- Enter your 10-digit mobile number and the OTP sent to your phone.
- Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the offer or loan amount that you need. Choose from our personal loan variants.
- Choose the repayment tenure and click on ‘PROCEED’.
- Complete your KYC and submit your application.
Our representative will contact you for further steps.
Additional read: How to reduce personal loan EMIs
Why choose Bajaj Finserv for online instant loan?
Choosing Bajaj Finserv for an online instant loan offers numerous benefits. With personal loan instant approval, you can receive quick funds with efficient processing. Bajaj Finserv provides a seamless experience for those looking to apply online for an instant personal loan, simplifying the application process and reducing paperwork. Their competitive interest rates and flexible repayment options make it an attractive choice for borrowers. Additionally, Bajaj Finserv's user-friendly platform ensures that the entire process, from application to disbursal, is fast and hassle-free, meeting your financial needs with ease and convenience.
Key offerings: 3 loan types
Personal loan interest rate and applicable charges
Type of fee |
Applicable charges |
Rate of Interest per annum |
10% to 31% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes). |
Flexi Facility Charge |
Term Loan – Not applicable Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)
*All the Flexi facility charges above are inclusive of applicable taxes *Loan amount includes approved loan amount, insurance premium, and VAS charges. |
Principal Holiday Facility Fees |
Above charges are inclusive of applicable taxes & will be deducted upfront from loan amount *(Loan amount includes approved loan amount, Insurance Premium & VAS Charges) |
Bounce charges |
Up to Rs. 1,200 per bounce. |
Pre-payment charges |
Full pre-payment
Part pre-payment
*Foreclosure will be processed post clearance of first EMI |
Penal charge |
Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount. |
Annual maintenance charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure. |
Broken period interest / Pre-monthly Instalment interest |
Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:
Scenario 1: If Loan is disbursed on 1st or post 10th of the month: |
Note: Additional cess if any, will be applicable to all charges according to state law.
*Terms and conditions apply.
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Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.