Personal Loan on a salary of up to Rs. 60,000

Personal Loan on a salary of up to Rs. 60,000

A personal loan on a Rs. 60,000 salary can cover planned or urgent costs without collateral, subject to eligibility. See the criteria, fees and how prepaying early can cut your interest.
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Rs. 40,000 - Rs. 55 lakh

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Key Takeways

 
 

Last updated: 13th October, 2026



In summary

A personal loan on a Rs. 60,000 salary depends on your credit score, employment and existing obligations, not salary alone. Once you have the loan, how you repay it matters as much as the rate.


  • Bajaj Finance Personal Loan amounts range from Rs. Rs. 40,000 to Rs. Rs. 55 lakh.
  • The interest rate ranges from 10% to 30.5% per annum, subject to eligibility.
  • Rs. 6 lakh at 13% per annum costs Rs. 13,652 a month over 60 months (5 years).
  • Part-prepaying Rs. 1 lakh after a year saves about Rs. 58,305 in interest in this example.

  • On a Term Loan, that prepayment carries a charge of up to Rs. 4,720.


If you expect a yearly bonus, plan for prepayment when you choose your loan. The Bajaj Finance Personal Loan lets you pick a Term Loan or a Flexi variant to suit that plan.

How much can you borrow on a Rs. 60,000 salary?

The amount depends on your credit score, existing loan repayments, employer and the tenure you choose, so there is no fixed figure for every Rs. 60,000 earner. Bajaj Finance assesses your profile and offers an amount within its range of Rs. Rs. 40,000 to Rs. Rs. 55 lakh, subject to eligibility.


A personal loan is an unsecured loan you repay in equated monthly instalments (EMIs). Use the Personal Loan Eligibility Calculator to estimate your amount, then calculate your personal loan EMIs to check what fits your budget.

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What are the key features?

The features below apply to a Bajaj Finance Personal Loan on any salary.

  • Online application: You can complete the application in about 5 minutes.
  • Disbursal: Funds may reach your account within 24 hours* of approval, subject to verification.
  • Tenure: 12 months to 108 months (1 years to 9 years).
  • Flexi variants: Withdraw from a limit, pay interest only on the amount used and part-prepay with no extra charge.
  • Pre-approved offers: Existing customers may receive pre-approved offers.

  • Online account management: Manage your loan any time in the My Account portal.


*Terms and conditions apply. These features shape how you repay, which the example below puts into numbers.

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How much can a bonus prepayment save?

Part-prepaying lowers the principal you owe, so every later EMI carries less interest. If you keep the same EMI, the loan also ends sooner.


Worked example: Aditi in Chennai

Aditi is 31 and works as a salaried business analyst in Chennai. She earns Rs. 60,000 a month and has a CIBIL score of 765. She borrows Rs. 6 lakh for her wedding on a 60-month Term Loan at an illustrative 13% per annum. After 12 EMIs, she receives a Rs. 1 lakh bonus and part-prepays it, keeping her EMI the same.


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.


ItemNo prepaymentRs. 1 lakh prepaid after 12 EMIs
Monthly EMIRs. 13,652Rs. 13,652
Number of EMIs6049
Total interestRs. 2,19,111Rs. 1,60,806
Part-prepayment charge (Term Loan, up to 4.72%)NilUp to Rs. 4,720

The prepayment saves Aditi about Rs. 58,305 in interest and ends the loan 11 months (almost a year) early. After the maximum charge of Rs. 4,720, she is still about Rs. 53,585 better off. On a Flexi variant, she would pay no part-prepayment charge, though Flexi facility and annual maintenance charges apply.


What can delay approval: a CIBIL score below 650, high existing EMIs relative to income, mismatched document details or several recent loan applications.

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What are the eligibility criteria and documents required?

The Bajaj Finance Personal Loan eligibility criteria are listed below, as on the product page. 


CriterionRequirement
NationalityIndian
Age21 years to 80 years.
Employed withPublic, private, or MNC.
CIBIL Score650 or higher.
Customer profileSelf-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.


Meeting these criteria does not guarantee approval, which depends on verification and credit assessment.


You may need the following documents, including Know Your Customer (KYC) documents and a Permanent Account Number (PAN) card, subject to your profile and application:

  • 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


Confirm the final list during your application, since not every applicant needs every document.

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What interest rate and charges apply?

The table lists the main charges from the Bajaj Finance fees page.


ChargeAmount
Interest rate10% to 30.5% per annum
Processing feeUp to 4.13% of the loan amount, inclusive of applicable taxes
Bounce chargesRs. 700 to Rs. 1,200 per bounce
Part-prepayment (Term Loan)Up to 4.72% of the principal prepaid, inclusive of applicable taxes
Part-prepayment (Flexi Loans)No charge

Review the interest rate and charges on a personal loan and your Key Fact Statement before you accept an offer.

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How do you apply?

You can apply for a Bajaj Finance Personal Loan online in five steps:

  1. Check loan eligibility: Enter the required loan amount and repayment period, then click "CHECK LOAN OFFER".
  2. Enter personal details: Enter personal, financial and employment details to receive a personalised offer.
  3. Loan offer: Review the offer details and adjust the amount or tenure to suit the applicant's needs.
  4. KYC verification: Complete KYC and verify bank details.
  5. Talk to loan specialist: The application is submitted and an executive contacts the applicant about the next steps.

The process may differ for new and existing customers, and some customers may need to provide additional documents. Choose a Flexi variant on the offer screen if you plan to part-prepay often.

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Which option suits your repayment plan?

The right loan variant depends on how you expect to repay. The table sets out the main choices.


Your planSuitable optionTrade-off
Fixed EMIs, no early repaymentTerm LoanPrepayment charges if plans change
Regular bonus prepaymentsFlexi Dropline LoanFlexi facility and annual maintenance charges
Lower EMIs at firstFlexi Hybrid LoanMore total interest
Small, short-term needSavings or a credit card EMISmaller emergency cushion

If you expect a bonus every year, ask for both a Term Loan and a Flexi quote when you check your personal loan offer. Comparing the two in rupees shows which plan costs less for you.

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How should you plan a bonus prepayment?

A little planning before the bonus arrives makes each part-prepayment count. Work through these steps in order:

  1. Check your loan type: On a Term Loan, note the part-prepayment charge in your Key Fact Statement; on a Flexi Loan, there is no part-prepayment charge.
  2. Keep an emergency cushion: Set aside a few months of expenses before you prepay, since money paid into the loan is hard to get back on a Term Loan.
  3. Prepay early in the tenure: More of each early EMI is interest, so the same amount saves more when paid sooner.
  4. Choose what changes: Decide whether to keep the EMI and shorten the tenure, or lower the EMI, and confirm the option with Bajaj Finance.

  5. Check the new schedule: Review the updated repayment schedule in My Account after the payment is applied.


If you expect a bonus every year, a Flexi variant may suit you better than paying a charge each time. Compare the Flexi facility and annual maintenance charges with the prepayment charges you would otherwise pay.

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

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 (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Eligibility and amount

Repayment

Can you get a personal loan on a Rs. 60,000 salary?

Yes, if you meet the eligibility criteria. Bajaj Finance considers your credit score, employment, existing obligations and repayment capacity alongside your salary. A CIBIL score of 650 or higher is a listed criterion. Approval, amount, rate and tenure depend on eligibility, verification and credit assessment, so check your offer online first and compare at least two tenures.

Funds may reach your bank account within 24 hours* of approval, subject to verification and applicable terms. The online application takes about 5 minutes to complete. Pre-approved offers for existing customers can mean fewer checks. Keep your Know Your Customer (KYC) documents and bank details ready, and make sure they match, to avoid delays.

Foreclosure means repaying the full outstanding loan in one payment and closing it. Part-prepayment means paying a lump sum to reduce the principal while the loan continues. On a Term Loan, both can carry charges of up to 4.72%, inclusive of applicable taxes. Flexi Loans carry no part-prepayment charge, though other Flexi charges apply.

It pays off when the interest you save is larger than the charge. In the example above, prepaying Rs. 1 lakh after a year saves about Rs. 58,305 in interest against a maximum charge of Rs. 4,720. Prepaying earlier in the tenure saves more, because more of each early EMI is interest.

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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*.
For customer support, call Personal Loan IVR: 7757 000 000