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.
| 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. Read the Key Fact Statement before you accept. Learn more about the Insta Personal Loan.
Worked example: Ishaan from Chandigarh
Ishaan is 27 and works as a salaried software tester in Chandigarh. He earns Rs. 62,000 a month and has a CIBIL score of 745. He plans a 5-day Jibhi trip for three friends and estimates his share of stays, transport and gear at about Rs. 65,000 (his own illustrative estimate). He pays Rs. 15,000 from savings and borrows Rs. 50,000 at an illustrative 17% 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. 4,560 | Rs. 4,723 |
| 18 months (1.5 years) | Rs. 3,167 | Rs. 6,997 |
The 18-month option lowers the EMI by Rs. 1,393 but adds Rs. 2,274 in interest. The processing fee on Rs. 50,000 is up to Rs. 2,065. Ishaan picks 12 months (1 year), because Rs. 4,560 is about 7.4% 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.
