Instant Personal Loan for Self-employed

Get a quick and hassle-free instant personal loan for self-employed individuals.
Instant Personal Loan for Self-employed
5 min read
17 May 2023

The need for financial support has grown as more people choose self-employment and launch their own business ventures. There are various types of credit facilities available for self-employed individuals to utilise for their business. However, the strict eligibility requirements of traditional financial institutions might make it challenging for self-employed people to rapidly obtain a personal loan. On top of it, several credit facilities have end-use restrictions, which may not help in meeting the miscellaneous expenses that come with running a business.

Fortunately, instant personal loans for self-employed individuals have gained popularity as a credit instrument. These loans are intended to give self-employed individuals rapid and simple access to finances as and when they require. This is an unsecured loan that does not demand any collateral. An instant personal loan for self-employed individuals is a practical choice for those who need money for either personal or professional purposes.

You can opt for our Insta Personal Loan if you are a self-employed individual who needs immediate funds to cover your expenses. It is created to fulfil the unique demands of our customers, who might require immediate funds at short notice.

Features of an Insta Personal Loan

Here are a few benefits of getting an Insta Personal Loan:

  • Pre-approved offers/ pre-assigned limits
    You do not have to complete the entire application process to find out how much loan amount you qualify for. Existing customers receive a pre-approved offer, indicating that they are already eligible for a loan of that amount. Simply input your mobile number and the OTP to check the pre-assigned limit for new customers.
  • Immediate processing
    The green channels at international airports served as inspiration for the features of our Insta Personal Loan. We have made the application and disbursal process as hassle-free as possible. The loan amount can be disbursed to your account in as little as 30 minutes*.
  • Flexible loan tenures
    We provide choices for repayment that go up to 63 months. You have the option to choose the tenure that works best for you during the entire process.
  • No hidden fees
    Our fees and charges are detailed in our loan agreements and on our website. There are no hidden charges.

What is the interest rate applicable on an instant loan for self-employed individuals

Below are some useful details about our Insta Personal Loan.

Loan amount

Up to Rs. 12,76,500.

Interest rate

13% to 38% p.a.

Tenure

6 months to 63 months.

Disbursal

30 minutes* to 4 hours (*applicable for select customers).


Please ensure that you read all the fees and charges carefully before proceeding with your application.

How to check your Insta Personal Loan offer

Existing customers only need to input their phone number and OTP to see their pre-approved loan limit. Anyone with a working mobile device can generate an online Insta Personal Loan offer thanks to our technology. New customers may need to submit more paperwork to complete the loan application.

If no offer is displayed or you need to borrow additional funds, you can choose to apply for our regular personal loan. It only requires a few minutes.

How to determine your Insta Personal Loan amount

Existing customers of Bajaj Finance may already have a pre-approved Insta Personal Loan offer waiting for them. They can view their pre-approved loan limit, while new customers can instantly generate a pre-assigned loan limit. All customers have the option of accepting the offered loan or settling for a lesser sum.

You can use the Insta Personal Loan EMI Calculator to calculate the right monthly payback amount and loan tenure after choosing your loan amount. This can help you figure out the monthly EMIs before opting for the loan. The Insta Personal Loan EMI Calculator simply needs the loan amount, loan period, and interest rate to calculate monthly payments.

The EMI amount can be changed to suit your financial situation. You can choose a longer tenure to pay lower instalments and vice versa.

And you can do this by changing the relevant calculator fields. A breakdown of interest and principal is also available via the Insta Personal Loan EMI Calculator.

Features of an Insta Personal Loan

Here are a few benefits of getting an Insta Personal Loan:

Pre-approved offers/ pre-assigned limits

You do not have to complete the entire application process to find out how much loan amount you qualify for. Existing customers receive a pre-approved offer, indicating that they are already eligible for a loan of that amount. Simply input your mobile number and the OTP to check the pre-assigned limit for new customers.

Immediate processing

The green channels at international airports served as inspiration for the features of our Insta Personal Loan. We have made the application and disbursal process as hassle-free as possible. The loan amount can be disbursed to your account in as little as 30 minutes*.

Flexible loan tenures

We provide choices for repayment that go up to 63 months. You have the option to choose the tenure that works best for you during the entire process.

No hidden fees

Our fees and charges are detailed in our loan agreements and on our website. There are no hidden charges.

How to apply for an instant personal loan for self-employed individuals

Getting an Insta Personal Loan from Bajaj Finance is simple.

  1. Click on ‘CHECK OFFER’.
  2. Enter your 10-digit mobile number and OTP.
  3. Go with the pre-assigned limit or choose a different loan amount.
  4. Choose a repayment tenure that suits you best.
  5. Click on ‘PROCEED’ to complete the online process.

The online process may differ depending on whether you are a new customer or have an existing relationship with us.

What is the interest rate applicable on an instant loan for self-employed individuals

Below are some useful details about our Insta Personal Loan.

Loan amount Up to Rs. 12,76,500.
Interest rate 13% to 38% p.a.
Tenure 6 months to 63 months.
Disbursal 30 minutes* to 4 hours (*applicable for select customers).


Please ensure that you read all the fees and charges carefully before proceeding with your application.

Insta Personal Loan is a great choice if you want a loan with quick processing and money in your bank account within minutes.

It is a practical option if you are seeking an instant loan for self-employed individuals that can be quickly sent to your account. You can read more about Insta Personal Loan and check your offer by visiting the link below.

Check Offer

Disclaimer

While care is taken to update the information, products, and services included in or available on our website and related platforms/ websites, there may be inadvertent inaccuracies or typographical errors or delays in updating the information. The material contained in this site, and on associated web pages, is for reference and general information purpose and the details mentioned in the respective product/ service document shall prevail in case of any inconsistency. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/ service document and applicable terms and conditions. In case any inconsistencies are observed, please click on reach us.

*Terms and conditions apply

Frequently asked questions

What documents are required for an Insta Personal Loan for a self-employed applicant?

Most of the time, you can apply for our Insta Personal Loan without submitting any paperwork. However, based on your profile, you may be required to provide a few basic documents:

  • KYC documents such as PAN, Aadhaar, driving licence, voter’s ID, or a passport
  • Cancelled cheque
  • Bank account details
How do I determine my eligibility for an instant personal loan for self-employed individuals?

You are not required to confirm your eligibility for an Insta Personal Loan for self-employed individuals. For new customers, we establish a pre-assigned limit by considering several factors, including your credit score, payback history, and so on. Existing customers already have a pre-approved offer.

How can you lower your Insta Personal Loan EMIs?

The cost of the loan will be distributed over a longer period if you choose a longer repayment tenure, which will result in smaller monthly payments but a higher overall interest.

How do I repay the instant personal loan for self-employed individuals?

Setting up a NACH mandate with your bank would allow you to pay back your Insta Personal Loan through EMIs.

How much self-employed loan amount can I get?

In an Insta Personal Loan, you can get funds of up to Rs. 12,76,500, depending on your profile.

Is self-employed instant personal loan more expensive than salaried loan?

The loan terms differ from individual to individual and lender to lender. The interest rates and other charges for our Insta Personal Loan are in the same range for salaried or self-employed individuals.

Do I need to provide a guarantor for an instant personal loan?

No, you do not need a guarantor to apply for our Insta Personal Loan.

Can a self-employed personal get an instant personal loan?

Yes, a self-employed person can get an instant personal loan. They may have to submit relevant documents as proof of income to get approval.

Show More Show Less