Short-Term Loans in India — 7 Days to 6 Months, Explained
Product tier: T1/T2/T3
A short-term loan runs from a week to about six months. Under 60–90 days it's usually a single bullet repayment; beyond that it becomes monthly EMIs via e-NACH. The structure matters more than the label: bullet loans need your next salary to cover the whole amount, while EMIs spread the hit but add tenure and total interest. This page maps the whole spectrum so you pick structure first, lender second.
Who it fits
- Bridge needs: salary gap, one large bill, a deposit due before an inflow
- Borrowers who know the exact date money arrives to repay
- Anyone comparing an app loan against a credit-card swipe or EMI conversion
Who should skip it
- Long-term needs dressed as short-term — rolling a 30-day loan month after month costs far more than a 6-month EMI loan
- Income that can't absorb the repayment without re-borrowing next cycle
How applying works
- Decide bullet vs EMI with the EMI calculator and APR calculator
- Check offers — soft pull, zero CIBIL impact
- Compare total cost of credit across matching partners
- Complete KYC with the lender you choose
Check my offers — zero CIBIL impact
What it really costs — representative examples
Illustrations computed with disclosed assumptions (small tickets: 0.1%/day; mid: 2.5%/month; EMI: 28% p.a.; 3% processing fee + 18% GST). Actual lender pricing varies — every real offer shows that lender's own KFS numbers.
| Amount | Tenure | Rate | Fee | GST | You receive | You repay | Total cost | APR | Repayment |
|---|---|---|---|---|---|---|---|---|---|
| ₹10,000 | 30 days | 0.1% per day | ₹300 | ₹54 | ₹9,646 | ₹10,300 | ₹654 | 82.5% | single repayment |
| ₹30,000 | 3 months | 2.5% per month | ₹900 | ₹162 | ₹28,938 | ₹32,250 | ₹3,312 | 46.4% | single repayment |
| ₹60,000 | 6 months | 28% p.a. | ₹1,800 | ₹324 | ₹57,876 | ₹64,924 | ₹7,048 | 40.6% | 6 × ₹10,821 |
Frequently asked questions
Bullet or EMI — which is cheaper?
For the same amount and rate, a shorter bullet loan usually costs less in absolute ₹ but demands full repayment at once. Run both in our calculators and compare the total cost line.
Do 7-day loans exist legitimately?
Yes, a few RBI-registered NBFC partners offer 7–15 day micro-advances, though fixed fees make their APR steep. We show that APR honestly rather than hiding behind a per-day rate.
Will a short loan build my credit history?
Repaid on time, yes — it reports to the bureaus like any loan. Bounces and late payments equally damage it, and small-loan stacking is a known red flag for underwriters.
Is there a penalty for early repayment?
RBI's Digital Lending framework pushes for no foreclosure charges on floating-rate and short retail loans, and most partners here allow early exit; each offer card and its KFS states this per lender.