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₹ 5 Lakh personal loan @10.49% p.a

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Rs.5 Lakh Personal Loan

Are you dreaming of renovating your home, planning a dream vacation, or consolidating your debts? Whatever your financial goals may be, a personal loan of Rs. 5 lakhs can be the key to making your dreams a reality. At Fincover, we understand the importance of easy access to credit, which is why we have enabled a platform with which you can find hassle-free personal loans of Rs. 5 Lakhs.

Bank Interest rates for 5 Lakh Personal Loan

Banks
Personal Loan Interest Rates 2025
Institution Interest Rates
HDFC Bank 10.85% – 24.00%
Axis Bank 11% – 24.00%
Bandhan Bank 11.90% Onwards
ICICI Bank 10.85% – 16.25%
DBS Bank 10.99% – 24.00%
Bank of Baroda 11.05% – 18.75%
SBI 11.45% – 14.85%
IndusInd Bank 10.49% – 24.00%
Yes Bank 11.25% – 21.00%
Standard Chartered 11.50% – 24.00%
IDFC First 10.99% – 23.99%
Kotak Mahindra Bank 10.99% – 24.00%
PNB 11.40% – 17.95%
Indian Bank 10.90% – 24.00%

NBFCs Interest rates for 5 Lakh Personal Loan

NBFCs
NBFC Name Interest Rate
InCred Interest Rate 2025 16% – 42%
Finnable Interest Rate 2025 16% – 28%
L&T Finance Interest Rate 2025 11% – 24%
Aditya Birla Interest Rate 2025 10% – 32%
Shriram Finance Interest Rate 2025 11% – 42%
Bajaj Finserv Interest Rate 2025 10.75% – 31%
Piramal Interest Rate 2025 12.99% onwards
Tata Capital Interest Rate 2025 11.99% – 35%
Poonawalla Interest Rate 2025 11.49% – 19%
SMFG Interest Rate 2025 13% – 36%
Axis Finance Interest Rate 2025 13% onwards
Mahindra Finance Interest Rate 2025 12% – 36%
Paysense Interest Rate 2025 16.8% – 33%

Rs.5 Lakh Personal Loan EMI 1- 7 Years

5 Lakh Personal Loan EMI for 1 Year

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%12 months₹44,205

5 Lakh Personal Loan EMI for 2 Years

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%24 months₹23,206

5 Lakh Personal Loan EMI for 3 Years

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%36 months₹16,256

5 Lakh Personal Loan EMI for 4 Years

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%48 months₹12,811

5 Lakh Personal Loan EMI for 5 Years

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%60 months₹10,747

5 Lakh Personal Loan EMI for 6 Years

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%72 months₹9,451

5 Lakh Personal Loan EMI for 7 Years

Loan AmountInterest RateTenureEMI
₹5,00,00010.49%84 months₹8,538

*These values are approximate and calculated based on standard EMI formulas.

Why Choose Fincover for applying for Personal loan of 5 Lakhs?

  • Flexible Usage: Unlike other loans, a personal loan of Rs. 5 Lakhs can be used for any purpose you desire. From funding your wedding to consolidating high-interest debt, the choice is yours.
  • Quick Approval: The application process is hassle-free, and with the right financial history, you can get approval in no time.
  • Affordable EMIs: Enjoy the convenience of repaying your loan in manageable monthly installments, making it easier on your wallet.
  • Competitive Interest Rates: Interest rates on personal loans are often more favourable than credit card rates, helping you save money in the long run.
  • No Collateral Required: Personal loans are unsecured, meaning you won’t need to pledge any assets as security.
  • Fast Disbursal: Once approved, the loan amount is disbursed quickly, helping you address your financial needs promptly.

Eligibility Criteria for Personal Loan of 5 Lakh

CriteriaDetails
Minimum Age21 years
Maximum Age60 years (varies by lender)
Minimum Salary₹25,000 per month
Employment TypeSalaried*
Work ExperienceMinimum 1 year (salaried)
Credit Score700 +
CitizenshipIndian Resident
Loan TenureUp to 7 years

Documents Required for a 5 lakh personal loan for salaried individuals

Document TypeDetails
Identity ProofAadhaar Card, PAN Card, Passport, Voter ID, Driving License
Address ProofUtility Bills (Electricity, Water, Gas), Aadhaar Card, Passport, Rent Agreement
Income ProofLatest Salary Slips (last 3 months)
Bank StatementsBank Statements (last 3-6 months)
Employment ProofOffer Letter, Employment Certificate
PhotographsRecent Passport-sized photographs

Are you Looking for 5 Lakh Personal loan? Why Wait? Apply Today!

Don’t wait any longer; apply for your personal loan today and turn your dreams into reality!

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