An Insta Personal Loan is an unsecured personal loan with a limit you can check before completing a full application. You repay it in equated monthly instalments (EMIs), and each EMI covers part of the principal and the interest on the outstanding balance. It can work as an instant travel loan.
| Feature | Bajaj Finance Insta Personal Loan |
|---|
| Loan amount | Rs. Rs. 40,000 to Rs. Rs. 15,50,000 |
| Interest rate | 16% to 30.5% per annum, subject to eligibility |
| Tenure | 12 months to 96 months (1 year to 8 years) |
| Disbursal | May be credited within 30 minutes* after approval, for eligible offers |
| Documents | Some customers may not need any |
*Terms and conditions apply.
The processing fee is up to 4.13% of the loan amount, inclusive of applicable taxes. Review the travel loan rate of interest and learn more about the Insta Personal Loan.
Worked example: Manoj's family from Kolkata
Manoj is 46 and works as a salaried railway clerk in Kolkata. He earns Rs. 52,000 a month and has a CIBIL score of 725. He plans a 3-day trip for six family members, including the Parasnath Hills pilgrimage, and estimates train fares, two hotel rooms and food at about Rs. 55,000 (his own illustrative estimate). He pays Rs. 15,000 from savings and borrows Rs. 40,000 at an illustrative 18% per annum.
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N − 1], where R is the monthly rate and N is the tenure in months. All figures are rounded to the nearest rupee.
| Tenure | Monthly EMI | Total interest |
|---|
| 12 months (1 year) | Rs. 3,667 | Rs. 4,006 |
| 24 months (2 years) | Rs. 1,997 | Rs. 7,927 |
The 24-month option halves the EMI but nearly doubles the interest. The processing fee on Rs. 40,000 is up to Rs. 1,652. Manoj picks 12 months (1 year), because Rs. 3,667 is about 7% of his salary.
What can delay approval: offers depend on your relationship with Bajaj Finance and your financial profile. New customers may need a CIBIL check and documents, which can add time before disbursal.
