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₹ 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
Banks
| Institution | Interest rates | Loan amount |
| DBS bank | From 10.99% | Upto 15 Lakhs |
| HDFC | From 10.5% | Upto 40 Lakhs |
| Axis Bank | From 10.49%` | Upto 40 Lakhs |
| ICICI bank | 10.75%-19% | Upto 40 Lakhs |
| Bank of Baroda | 10.75% – 18.5% | Upto 5 Lakhs |
| SBI | From 11% | Upto 30 Lakhs |
| IndusInd | From 10.49% | Upto 50 Lakhs |
| Yes Bank | From 10.99% | Upto 40 Lakhs |
| Standard Chartered | From 11.5% | Upto 50 lakhs |
| IDFC | From 10.49% | Upto 50 Lakhs |
| Kotak Mahindra | From 10.99% | Upto 40 Lakhs |
| PNB | From 11.40% | Upto 20 Lakhs |
| Bandhan bank | From 11.55% | Upto 25 Lakhs |
NBFCs Interest rates for 5 Lakh Personal Loan
NBFCs
| Institution | Interest rates | Loan amount |
| Piramal Finance | From 12.99% | Upto 35 Lakhs |
| Shriram Finance | From 14% | Upto 35 Lakhs |
| Tata Capital | From 10.99% | Upto 35 Lakhs |
| InCred | From 18% | Upto 3 Lakhs |
| Finnable | From 16% | Upto 10 Lakhs |
| PaySense | From 16.8% | Upto 5 Lakhs |
| Poonawalla | From 9.99% | Upto 30 Lakhs |
| Fullerton | From 11.99% | Upto 25 Lakhs |
| LendingKart | From 12% | Upto 3 Lakhs |
| Axis Finance | From 13% | Upto 25 Lakhs |
| L&T Finance | From 12% | Upto 7 Lakhs |
| Mahindra Finance | From 10.99% | Upto 10 Lakhs |
| Aditya Birla | From 11.99% | Upto 50 Lakhs |
| Bajaj Finance | From 11% | Upto 50 Lakhs |
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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