Planning a Dhanteras Purchase? How to Apply for a Personal Loan Online

Work out how much you need for your Dhanteras purchase, then estimate your EMI to see whether a Bajaj Finance Personal Loan of Rs. 40,000 or more fits your budget.

Dhanteras is traditionally seen as an auspicious day to buy gold, utensils, and new appliances, so many households plan their purchases weeks ahead. Say you've picked a gold coin, a new phone or a washing machine. Then you check the price, and it's Rs. 30,000 more than the amount you set aside.

Dipping into savings feels risky, and paying from your salary may leave little for rent and bills. So how do you fund the purchase and still keep your finances on track? A Bajaj Finance Personal Loan can be one option, as long as the repayment fits your budget.

A personal loan is an unsecured loan, which means you borrow without pledging assets such as property or gold. You repay the amount plus interest through monthly instalments, called EMIs, over an agreed tenure. You can use it for personal expenses, including a planned Dhanteras purchase.

Do you need a loan for your Dhanteras purchase?

Not always. Many households buy gold jewellery or coins, a smartphone or laptop, a refrigerator or television, or furniture at Dhanteras. How you pay depends on the price and how soon you need the item.

Replacing a broken refrigerator calls for different planning from adding a second tablet. If the purchase can wait, waiting may cost you nothing. If it can't, compare your options.

Borrowing makes sense when the purchase matters, your savings are not enough, and the EMI fits your monthly budget. It should not be a reason to spend more than you planned.

How much should you borrow for Dhanteras shopping?

Borrow only the gap between the price and the money you already have. Suppose you plan to buy gold worth Rs. 1.20 lakh and have Rs. 50,000 in savings. Your shortfall is Rs. 70,000, and that is the amount to look at.

Borrowing the exact shortfall keeps your repayment smaller. Add any extra costs first, such as making charges or delivery fees. Also note that a Bajaj Finance Personal Loan starts at Rs. 40,000, so a smaller gap may be better covered from savings.

Will the personal loan EMI fit your monthly budget?

Qualifying for an amount does not mean you should borrow all of it. Start with your existing EMIs and household expenses, then see what is left each month. That surplus, not the maximum loan on offer, should set your limit.

The Bajaj Finance Personal Loan EMI Calculator helps you test this. You enter the loan amount, interest rate and tenure, and it shows your EMI, total interest, total repayment, and a tentative repayment schedule.

Tenure is the main trade-off. A shorter tenure means a higher EMI but less total interest, while a longer tenure lowers the EMI and raises the interest you pay.

Consider Meera, a 32-year-old marketing executive in Pune with a CIBIL Score of 750. She has a monthly surplus of Rs. 12,000 and needs Rs. 70,000 for a gold coin. At an illustrative 10% p.a., her EMI would be about Rs. 6,154 over 12 months or Rs. 3,230 over 24 months.

The longer tenure would cost her roughly Rs. 3,700 more in interest. Her surplus covers the higher EMI comfortably, so she chooses 12 months. Pick the EMI that fits your surplus, not just the tenure with the lowest instalment.

Could a Bajaj Finance Personal Loan fund your purchase?

It could, if you meet the eligibility criteria and the repayment suits your budget.

You can choose from three variants. A Term Loan gives you one-time disbursal with fixed instalments. A Flexi Hybrid Loan has interest-only instalments in the initial period and allows multiple withdrawals. A Flexi Dropline Loan also allows multiple withdrawals from an approved limit.

Both Flexi variants start at Rs. 1,00,000, and charges differ across all three. Meera's Rs. 70,000 need would fit only the Term Loan. Choose the variant based on how you plan to use and repay the funds.

This loan may not suit you if you need less than Rs. 40,000, if your CIBIL Score is below 650, or if the EMI would strain your monthly budget.

Who is eligible, and which documents do you need?

You can apply if you meet these five criteria.

You must be 80 years or younger when your loan tenure ends. Keep these documents ready:

Meeting the criteria does not guarantee approval. A CIBIL Score below 650, several recent loan applications, or a probation period at a new job can affect the outcome.

How can you apply for a Bajaj Finance Personal Loan online?

You can apply online in five steps, without visiting a branch.

1. Check your loan offer: enter the amount you need and your preferred tenure.

2. Share your details: submit your personal, financial and employment information.

3. Review the offer: check the loan amount, interest rate and tenure, and adjust them if needed.

4. Complete verification: submit your KYC details and verify your bank account.

5. Submit your application: a loan specialist will contact you about the next steps.

Approval and disbursal depend on verification and applicable conditions.

What charges should you check before accepting the offer?

The interest rate is only part of the cost, so read the fees before you accept.

Flexi Loans have no part-prepayment charges, but annual maintenance, facility and foreclosure charges can still apply. Per Reserve Bank of India (RBI) guidelines, a lender cannot levy a charge missing from your Key Fact Statement (KFS) without your explicit consent. Read the KFS and loan agreement before you accept.

Let your Dhanteras purchase fit your financial plans

A festive purchase feels better when it doesn't strain the months that follow. Work out your funding gap, test the EMI against your surplus, and read the repayment terms. If you still need extra funds after that, you can consider a Bajaj Finance Personal Loan.

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