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.
Personal Loan of 4 Lakh
15.6L Reviews
Wide Choice
Curated offers from 30+ lenders
Quick Disbursal
Money in your account instantly
SmartMatch
Offers ranked according to eligibility
Digital Process
Hassle-free & paperless

Find Best Personal Loan Offers
Compare & Choose the Best Offer
Pre-approved Offers with Instant Disbursals
Know Your Chances of Approval
End-to-End Digital Process
How Can I Apply for a Personal Loan Online?
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
How to Get Rs. 4 Lakh Personal Loan Online
Pre-approved Personal Loans at Paisabazaar
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.
Pre-Approved Personal Loan Interest Rates Available on Paisabazaar
| Interest Rates (p.a.) | |
|---|---|
| Aditya Birla Capital | 12.99% onwards |
| Federal Bank | 12.00% onwards |
| Axis Bank | 14.00% onwards |
| IndusInd Bank | 15.00% onwards |
| Piramal Finance | 16.00% onwards |
| Tata Capital | 18.00% onwards |
| Hero Fincorp | 20.00% onwards |
Check Personal Loan Offers Based on Your Salary
Features & Benefits of Rs. 4 lakh Personal Loan
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:
Avail Personal Loan for
All Your Needs

Avail Personal Loan for
All Your Needs
Benefits of Rs. 4 lakh personal loan
Interest Rates for Rs. 4 Lakh Personal Loan
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.
EMI on Rs. 4 Lakh Loan – Example by Tenure
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.
| Tenure | Interest Rates (p.a.) | Loan Amount | EMI | Total Interest | Total Payable |
|---|---|---|---|---|---|
| 1 year | 10.50% | Rs 4,00,000 | Rs 35,259 | Rs 23,113 | Rs 4,23,113 |
| 2 years | 10.50% | Rs 4,00,000 | Rs 18,550 | Rs 45,210 | Rs 4,45,210 |
| 3 years | 10.50% | Rs 4,00,000 | Rs 13,001 | Rs 68,035 | Rs 4,68,035 |
| 4 years | 10.50% | Rs 4,00,000 | Rs 10,241 | Rs 91,585 | Rs 4,91,585 |
| 5 years | 10.50% | Rs 4,00,000 | Rs 8,598 | Rs 1,15,854 | Rs 5,15,854 |
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 Rs. 4 Lakh Personal Loan
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:
Documents Required for Rs. 4 lakh Personal Loan
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:
How to Apply for Rs. 4 Lakh Loan via Paisabazaar
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
Fees & Charges
Below listed are the common fees & charges you might incur on a Rs. 4 lakh personal loan in India.
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.50% to 5% of the sanctioned loan amount + GST |
| Foreclosure/Prepayment Charges | Nil to 4% of the principal outstanding |
| Loan Cancellation Charges | Rs. 3000 (Approx.) – As per lender |
| Penal Charges | Usually @ 2% per month; 24% p.a. |
| Prepayment/Part-prepayment/Foreclosure Charges | Nil – Floating
Usually around 2% - 5% on the principal outstanding – Fixed |
| Documentation Charges | Depends on lender |
| EMI Bounce charge | Rs. 500 per instance |
Note: The above-mentioned fees and charges are basic in nature and shall vary from lender to lender.
Where Can I use Rs. 4 Lakh Personal Loan
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.
Check Personal Loan Offers in Your City
How Can I Apply for a Personal Loan Online?
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
Explore Our Personal Loan Lenders
Avail Personal Loan for
All Your Needs

Avail Personal Loan for
All Your Needs
FAQs
How much interest will I pay on a Rs. 4 lakh personal loan?
The total interest you need to pay on a Rs. 4 lakh personal loan depends on three main factors, such as loan interest rate, loan tenure and EMI frequency.
What is the EMI on Rs. 4 lakh personal loan for 5 years?
Assuming the personal loan interest rate of 10.50% p.a., your EMI on Rs. 4 lakh for 5 years shall be Rs. 8,598. The total interest payable will be Rs. 1,15, 854 and total payment (principal amount + interest) will be Rs. 5, 15, 854.
Can I get a Rs. 4 lakh loan without income proof?
Usually, banks/NBFC/Fintech lenders do require your identity, address and income proofs before loan approval. However, if you are a pre-approved customer of a respective lender, then you are not required to furnish any document(s).
What is the minimum CIBIL score for Rs. 4 lakh loan?
To qualify for a Rs. 4 lakh personal loan, your CIBIL score plays a crucial role in determining your eligibility. Therefore, the lenders generally prefer an ideal CIBIL score of 750 or above.
Which bank gives the lowest interest rate for Rs. 4 lakh loan?
Banks and NBFCs offer personal loans at competitive interest rates. However, the exact interest rate for your personal loan shall depend on factors, such as your credit score, income, employment status, and relationship with the bank.
What is the minimum salary required for Rs. 4 lakh personal loan?
The minimum net monthly salary required for your Rs. 4 lakh personal loan by most lenders is Rs. 15,000. However, the exact salary or income shall depend on the lender, your employment type, and location.
How long does it take to get Rs. 4 lakh personal loan approved?
The processing time to get a Rs. 4 lakh personal loan approved usually depends on your respective lender, eligibility; and how quickly you submit the required documents. For pre-approved customers the loan approval is instant with quick disbursals.
Can I take a Rs. 4 lakh loan for a wedding or medical emergency?
Yes, surely can take a Rs. 4 lakh personal loan for both a wedding or a medical emergency, as these two are the common and most acceptable reasons for availing personal loans.
What are the documents required for Rs. 4 lakh personal loan for self-employed individuals?
If you’re self-employed and applying for a Rs. 4 lakh personal loan, banks will require specific documents to assess your income stability and business continuity. The basic documents shall include your last 6 months’ bank statement, last years’ ITR, balance sheet and P&L account statement, business registration proof and office address proof.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
Address: Paisabazaar Marketing & Consulting Pvt. Ltd. 135 P, Sector 44, Gurugram (HR) 122001
Check Best Personal Loan Offers
with Quick Disbursal








