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5 Lakh Personal Loan

4.5/5

15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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at 9.98%* p.a.

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Anubhuti Agrawal profile
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Anubhuti Agrawal
Shamik Ghosh profile
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Shamik Ghosh

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?
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Key Features of a ₹5 Lakh Personal Loan

Feature Details
Loan Amount 5 Lakh
Interest Rate 9.98% - 44% p.a.
Repayment Tenure 12 - 84 months
Processing Fee 0% - 4% of loan amount
Disbursal Time Within 24 hours
CIBIL Score Required 700+ (760+ for best rates)
Collateral Required None (Unsecured)
Minimum Salary Rs 25000
Prepayment Charges 0% - 5% (lender-specific)

Paisabazaar 5 Lakh Personal Loan – Compare Top Lenders & Apply Online

Bank/NBFCInterest Rates (% p.a.)Processing Fees
Aditya Birla Finance10.99 onwardsUp to 4%
Axis Bank9.99 onwards*Up to 2%
Bank of Baroda10.15-18.00Up to 2% (Max. Rs. 10,000)
Bajaj Finance Limited10.00-30.00Up to 3.93%
Bank of India10.85-16.15Up to 1% (Min. Rs. 250; Max. Rs. 15,000)
Bank of Maharashtra8.75-13.55Up to 1% (Max. Rs. 10,000)
Canara Bank9.70-15.15Up to 0.5% (Max. Rs. 5000)
Central Bank of India9.85-11.65Up to 1%
Cholamandalam IFC10.00-28.004% - 6%
Dhani Loans & Services Ltd.13.99 onwards3% onwards
Federal Bank12.00 - 22.50*Up to 2%
HDB Financial Services10.00 - 35.00Up to 5.90%
HDFC Bank9.99 onwardsUp to Rs 6,500
Hero FincorpUp to 30*2.3% - 3%
HSBC Bank9.75 onwardsUp to 2%
ICICI Bank9.99 onwardsUp to 2%
IDFC FIRST Bank9.99 onwardsUp to 2%
IIFL Finance12.00 - 28.002% - 9%
Indian Overseas Bank10.25 onwardsUp to 0.75%
IndusInd Bank10.35 onwards*Up to 3.5%
Kotak Mahindra Bank9.98 onwards*Up to 5%
L&T Finance11.00 onwardsUp to 3%
Mahindra Finance8.00 - 25.002% of loan amount or Rs. 5,000, whichever is lower
Mannapuram Finance18.00 - 24.001% of loan amount
Moneyview14.00 onwards2% onwards
Muthoot Finance13.50 onwardsVaries for each application
Piramal Finance12.14 onwardsUp to 5%
Poonawalla Fincorp9.99 onwardsUp to 3%
Punjab & Sind Bank9.60-13.850.50% - 1%
Punjab National Bank10.25-16.80Up to 1%
Shriram Finance11.00 onwardsUp to 5%
Tata Capital10.99 onwardsUp to 3.5%
UCO Bank9.95 - 13.20Up to 1% (Min. Rs. 750)
Union Bank of India8.75 - 12.55Up to 1% (Max. Rs. 7,500)

*Paisabazaar special rates


Note: Rates as of 11th June 2026

Rs. 5 Lakh Personal Loan EMI Calculator - Monthly EMI at Every Rate

A personal loan EMI calculator is an online financial tool that allows the applicants to calculate their EMIs and total interest cost payable throughout the loan tenure. Personal loan EMI depends on the interest rate, loan amount and loan tenure.

Paisabazaar’s Personal Loan EMI Calculator assesses the loan affordability of the applicants and allows them to manage their EMIs as per their budget.

Personal Loan EMIs for Rs. 5 lakh at Different Interest Rates

Loan Amount (Rs.) Interest Rate (p.a.) Tenure EMI (Rs.) Interest Cost (Rs.)
5 lakh 9.98% 5 years 10,619 1,37,116
5 lakh 12.00% 5 years 11,122 1,67,333
5 lakh 15.00% 5 years 11,895 2,13,698

Personal Loan EMIs for Rs. 5 lakh for Different Tenures

Loan Amount (Rs.) Interest Rate (p.a.) Tenure EMI (Rs.) Interest Cost (Rs.)
5 lakh 9.98% 2 years 23,068 5,53,628
5 lakh 9.98% 3 years 16,129 5,80,640
5 lakh 9.98% 5 years 10,619 1,37,116

Eligibility: Who Can Get Rs. 5 Lakh Personal Loan?

The eligibility criteria set by the personal loan lenders to avail a personal loan of Rs. 5 lakh through Paisabazaar is as follows:

  • The minimum age of the applicant at the time of loan application should be 21 years and the maximum age at the time of loan maturity should be 60 years.
  • Salaried individuals, self-employed professionals and self-employed non-professionals are eligible for personal loan of Rs. 5 lakh.
  • Applicants having a CIBIL score of 760 and above usually have higher chances of getting their loans approved.
  • Salaried individuals should have a work experience of atleast 1 years, whereas, self-employed individuals should have a minimum business vintage of 3 years.
  • Eligible applicants should have an EMI/NMI ratio below 55%, including the existing EMIs and EMI of the proposed personal loan.

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Rs. 5 lakh Personal Loan for Salaried v/s Self-employed

Salaried Self-employed
Low credit risk. High credit risk.
Easy availability due to consistent income and stable job. Challenging to avail due to inconsistent income and unstable job.
Offered at lower interest rates. Interest rates are comparatively higher.
Pre-approved offers available. Pre-approved offers might not be available.
All banks and NBFCs are ready to offer 5 lakh personal loan. Usually, banks and NBFCs offer approve these loans but at relatively stricter loan terms.

Documents Required for Rs. 5 lakh Personal Loan

Below-mentioned are the documents required to avail a personal loan of Rs. 5 lakh:

  • ID proof - Aadhar card, passport, driving license, PAN card.
  • Address proof - Utility bills (electricity bills, telephone bills, gas bills), Aadhar card, passport, driving license.
  • Salary slips for last 3 months.
  • Bank statements for last 6 months.
  • Recent ITRs.

How to Apply for Rs. 5 Lakh Personal Loan Online Step by Step

You can apply for a personal loan through Paisabazaar in the following steps:

  • Login to the Paisabazaar Personal Loan app.
  • Go to the dashboard and check your credit score.
  • Click on the “Personal Loan” icon.
  • The app analyzes your credit profile.
  • Curated offers matching your credit profile are displayed on the screen.
  • Check the loan details provided, such as interest rates, processing fee, EMI, loan tenure, etc.
  • Apply with the lender best suiting your requirements.

Rs. 5 Lakh Loan With Low CIBIL Score - Is It Possible?

Yes, it is possible to avail a personal loan of Rs. 5 lakh with a low CIBIL score. Applicants having a credit score below 760 also can get their personal loans approved through Paisabazaar. However, these applicants with a lower credit score are usually considered credit risky by the lenders and may not get the best offers.

Most top private and public sector banks usually reject the loan applications of individuals with a low credit score. However, many NBFCs and fintech lenders are open to offering personal loans to individuals with a low credit score. However, the interest rates offered are very high.

FAQs

What is the EMI for Rs. 5 lakh personal loan @ 10% p.a. for 3 years?

The EMI for Rs. 5 lakh personal loan @ 10% p.a. for 3 years would be Rs. 16,134.

Which bank gives Rs. 5 lakh personal loan at lowest rate in 2026?

As of 5th May 2026, Kotak Mahindra Bank offers lowest interest rates for a personal loan of Rs. 5 lakh. However, some PSU banks might offer slightly lower interest rates depending on the credit profile of the applicants.

Can I get Rs. 5 lakh personal loan with 700 CIBIL score?

You can get a personal loan of Rs. 5 lakh with a CIBIL score of 700, but at a higher interest rate.

What is the minimum salary required for Rs. 5 lakh personal loan?

The minimum salary required to avail a personal loan of Rs. 5 lakh is Rs. 25,000.

Can I get Rs. 5 lakh loan instantly without documents?

If you are eligible for a pre-approved personal loan, you can get instant personal loan of Rs. 5 lakh with no or minimal documentation.

What is the processing fee for Rs. 5 lakh personal loan?

The processing fee for a personal loan of Rs. 5 lakh may cost up to 4% of the loan amount.

Is Rs. 5 lakh personal loan available for self-employed without ITR?

No, it is mandatory to have an ITR if a self-employed individual is applying for a personal loan.

How long does it take to approve Rs. 5 lakh personal loan?

Lenders usually take around 2 - 7 working days to approve personal loans of Rs. 5 lakh.

Can I get Rs. 5 lakh loan with bad CIBIL score?

Individuals with a poor CIBIL score find it difficult to get a personal loan of Rs. 5 lakh. Ideally, you should first work to improve your credit score and apply for a loan only when it is good enough for loan approval.

Which is better - SBI or HDFC for Rs. 5 lakh personal loan?

Offers for different borrowers vary from different lenders. The lender that offers better rates and terms, and a lower loan cost is better.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
View All Testimonials

Paisabazaar 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

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