Personal Loan of 4 Lakh

Before applying for a Rs. 4 lakh personal loan online, you need to check your loan eligibility and compare from multiple loan options as per your financial needs. The chances of your loan approval shall depend upon your credit score, income, employment stability, existing loan obligations, employer’s profile, etc.

Pre-approved personal loans are instant loans offered by banks/NBFCs to its selected customers. At Paisabazaar, we offer pre-approved loans from Federal bank, Aditya Birla Capital, Axis Bank, TATA Capital and many more lenders. If you are a pre-approved customer, then you can avail personal loans at preferential interest rates with no documentation check. Let’s take a look at the interest rates available for pre-approved customers on Paisabazaar.

Here are the features and benefits of availing a Rs. 4 lakh personal loan on Paisabazaar, typically useful for meeting short-term needs, such as wedding, travel, shopping, or medical emergencies:

Lending institutions offer personal loans at an interest rate of 9.98% p.a. onwards with repayment tenue up to 6 years. To get the exact interest rate for Rs. 4 lakh personal loan, you shall need to check and compare from various lenders offering personal loan for the desired loan amount. The rate of interest offered to you would depend on factors like your credit history, income, employment stability, employer’s profile, etc.

Let's look at the personal loan EMI amounts for various loan tenures (Calculate your EMI before you Apply)

EMI Calculation for Rs. 4 Lakh Loan @10.50% p.a. for Tenure of 1-5 Years. 

Note: The exact personal loan EMI is determined by the lender and will be specified in the loan agreement based on the interest rate, loan amount, and loan tenure.

Eligibility criteria for a Rs. 4 lakh personal loan shall vary and depends on the lenders, such as banks, NBFCs, or Fintech companies. However, here are the common eligibility factors set by most institutions in India:

Below stated is a list of basic required documents for a Rs. 4 lakh personal loan in India. These documents are accepted across most Fintech lenders, banks and NBFCs:

• Identity Proof: PAN Card, Aadhaar Card, Passport, Voter ID, Driving License
• Address Proof: Aadhaar Card, Voter ID, Passport, Utility Bill (Electricity/Water/Gas), Rent Agreement
• Income Proof: Salary Slips, Bank Statements, Form 16, Previous Years’ ITR

Follow the below mentioned simple steps for applying for a Rs 4 lakh personal loan at Paisabazaar:

Step 1: Visit the official website of Paisabazaar on web or app

Step 2: Enter your mobile number in the application form and enter the received OTP to authenticate

Step 3: Fill in your personal details

Step 4: Select the loan amount as per your requirement

Step 5: Check and compare the loan options available offers various banks and NBFCs

Step 6: Apply for the best-suited personal loan and proceed with the loan formalities

You can use Rs. 4 lakh personal loan for various purposes, such as buying gadgets and appliances, wedding expenses, medical emergencies, home renovation, education, debt consolidation, etc. The availed personal loans come with No End-Use Restrictions, however cannot be used for speculative activities.