₹ 5 Lakh personal loan @10.49% p.a
- EMI for 1-7 years Tenure*
- Multiple Banks & NBFCs*
- ₹25K+ salary Required*
- 700+ Cibil Score Required*
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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
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
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 Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 12 months | ₹44,205 |
5 Lakh Personal Loan EMI for 2 Years
Loan Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 24 months | ₹23,206 |
5 Lakh Personal Loan EMI for 3 Years
Loan Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 36 months | ₹16,256 |
5 Lakh Personal Loan EMI for 4 Years
Loan Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 48 months | ₹12,811 |
5 Lakh Personal Loan EMI for 5 Years
Loan Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 60 months | ₹10,747 |
5 Lakh Personal Loan EMI for 6 Years
Loan Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 72 months | ₹9,451 |
5 Lakh Personal Loan EMI for 7 Years
Loan Amount | Interest Rate | Tenure | EMI |
₹5,00,000 | 10.49% | 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
Criteria | Details |
---|---|
Minimum Age | 21 years |
Maximum Age | 60 years (varies by lender) |
Minimum Salary | ₹25,000 per month |
Employment Type | Salaried* |
Work Experience | Minimum 1 year (salaried) |
Credit Score | 700 + |
Citizenship | Indian Resident |
Loan Tenure | Up to 7 years |
Documents Required for a 5 lakh personal loan for salaried individuals
Document Type | Details |
---|---|
Identity Proof | Aadhaar Card, PAN Card, Passport, Voter ID, Driving License |
Address Proof | Utility Bills (Electricity, Water, Gas), Aadhaar Card, Passport, Rent Agreement |
Income Proof | Latest Salary Slips (last 3 months) |
Bank Statements | Bank Statements (last 3-6 months) |
Employment Proof | Offer Letter, Employment Certificate |
Photographs | Recent 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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