₹ 5 Lakh Personal loan @10.49%* @Banks & NBFCs
EMI for 1-7 years Tenure*
Multiple Banks & NBFCs*
₹25K+ salary Required*
700+ Cibil Score Required*
Rs.5 Lakh Personal Loan Apply Online
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
Comparison of Personal Loan Interest Rates of Banks (2025)
| Bank | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| DBS Bank | From 10.99% | Up to ₹15 Lakhs | 1-2% of loan amount | 24-48 hours | Apply |
| HDFC | From 10.85% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Axis Bank | From 10.49% | Up to ₹40 Lakhs | 1.5% to 2% | 24-72 hours | Apply |
| ICICI Bank | 10.75% – 19% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Bank of Baroda | 10.75% – 18.5% | Up to ₹5 Lakhs | 1%-2% | 48-72 hours | Apply |
| SBI | From 11% | Up to ₹30 Lakhs | Up to 1.5% | 2-3 working days | Apply |
| IndusInd | From 10.49% | Up to ₹50 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Yes Bank | From 10.99% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Standard Chartered | From 11.5% | Up to ₹50 Lakhs | Up to 2.25% | 48-72 hours | Apply |
| IDFC | From 10.49% | Up to ₹50 Lakhs | Up to 3% | 24-48 hours | Apply |
| Kotak Mahindra | From 10.99% | Up to ₹40 Lakhs | 1% to 2.5% | 1-2 days | Apply |
| PNB | From 11.40% | Up to ₹20 Lakhs | Up to 1% | 2-3 days | Apply |
| Bandhan Bank | From 11.55% | Up to ₹25 Lakhs | Up to 2% | 48-72 hours | Apply |
Comparison of Personal Loan Interest Rates of NBFCs (2025)
| NBFC | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | 2%-3% | 24-72 hours | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Up to 3% | 2-3 days | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| InCred | From 18% | Up to ₹3 Lakhs | 2% to 4% | Instant to 24 hrs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Up to 3% | 24-48 hours | Apply |
| PaySense | From 16.8% | Up to ₹5 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Poonawalla | From 9.99% | Up to ₹30 Lakhs | 1% to 2% | 24-72 hours | Apply |
| Fullerton | From 11.99% | Up to ₹25 Lakhs | Up to 3% | 1-2 working days | Apply |
| LendingKart | From 12% | Up to ₹3 Lakhs | 2% to 3% | 24-48 hours | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Up to 2.5% | 1-2 days | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Up to 3% | 2-3 days | Apply |
| Aditya Birla | From 11.99% | Up to ₹50 Lakhs | Up to 2.5% | 48-72 hours | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Up to 4% | 24-72 hours | Apply |
₹5 Lakh Personal Loan EMI (1 to 7 Years)
Loan Amount: ₹5,00,000
Interest Rate: 10.49% per annum
*These values are approximate and calculated based on standard EMI formulas.
| Tenure | EMI Amount |
|---|---|
| 1 Year | ₹44,205 |
| 2 Years | ₹23,206 |
| 3 Years | ₹16,256 |
| 4 Years | ₹12,811 |
| 5 Years | ₹10,747 |
| 6 Years | ₹9,451 |
| 7 Years | ₹8,538 |
₹5 Lakh Personal Loan Fees & Charges
| Fee Type | Charges |
|---|---|
| Interest Rate | 10.49% to 30% p.a. |
| Processing Fee | 1% to 4% of the loan amount |
| Loan Tenure | 12 to 84 months |
| Prepayment Charges | 2% to 5% of the outstanding loan amount |
| Late Payment Fee | ₹500 to ₹1,500 + applicable taxes |
| Loan Cancellation Fee | ₹3,000 to ₹5,000 (if applicable) |
| Cheque Bounce Charges | ₹500 per instance |
| Foreclosure Charges | 2% to 5% of the outstanding loan amount |
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 ₹5 Lakh Personal Loan
| 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 ₹5 Lakh Personal Loan (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 |
How to apply for 5 Lakh Personal Loan online at Fincover?
- Visit Fincover.com –> Personal loan, Compare loan offers from multiple lenders
- Enter your mobile number, PAN card, and Date of Birth.
- Provide employment details and any existing EMI commitments.
- Verify your mobile number using OTP authentication.
- Upload required documents: 3-month bank statements and salary slips, Aadhaar Card and PAN Card
- Complete verification, and once approved, your ₹5 lakh loan will be disbursed within a few hours.
FAQ on Personal Loan for 5 Lakhs
1. Who is eligible for a ₹5 lakh personal loan?
Salaried and self-employed individuals with a stable income and a good credit score (typically 700 or above) are eligible.
2. What is the interest rate for a ₹5 lakh loan? Interest rates vary based on the lender and applicant’s credit profile, typically ranging from 10.49% to 30% p.a.
3. Can I apply for a ₹5 lakh loan without a salary slip? Yes, some lenders offer loans based on alternative income proof such as bank statements or Form 16.
5. How to apply for a ₹5 lakh loan? Visit Fincover.com, enter your details, upload documents, complete verification, and get instant loan approval.
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!
