| Interest Rate | 9.98% p.a. onwards |
| Tenure | Up to 9 years |
| Processing Fee | Up to 4% of the loan amount |
5 Lakh Personal Loan
Wide Choice
Curated offers from 30+ lenders
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Money in your account instantly
SmartMatch
Offers ranked according to eligibility
Digital Process
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15.6L Reviews
Calculate EMI for ₹5 Lakh Personal Loan
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
Rs. 5 Lakh Personal Loan Highlights
Paisabazaar 5 Lakh Personal Loan – Compare Top Lenders & Apply Online
| Bank/NBFC | Interest Rates (% p.a.) |
|---|---|
| Aditya Birla Finance | 10.99 onwards |
| Axis Bank | 9.99 onwards* |
| Bank of Baroda | 10.15-18.00 |
| Bajaj Finance Limited | 10.00-30.00 |
| Bank of India | 10.85-16.15 |
| Bank of Maharashtra | 8.75-13.55 |
| Canara Bank | 9.70-15.15 |
| Central Bank of India | 9.85-11.65 |
| Cholamandalam IFC | 10.00-28.00 |
| Dhani Loans & Services Ltd. | 13.99 onwards |
| Federal Bank | 12.00 - 22.50* |
| HDB Financial Services | 10.00 - 35.00 |
| HDFC Bank | 9.99 onwards |
| Hero Fincorp | Up to 30* |
| HSBC Bank | 9.75 onwards |
| ICICI Bank | 9.99 onwards |
| IDFC FIRST Bank | 9.99 onwards |
| IIFL Finance | 12.00 - 28.00 |
| Indian Overseas Bank | 10.25 onwards |
| IndusInd Bank | 10.35 onwards* |
| Kotak Mahindra Bank | 9.98 onwards* |
| L&T Finance | 11.00 onwards |
| Mahindra Finance | 8.00 - 25.00 |
| Mannapuram Finance | 18.00 - 24.00 |
| Moneyview | 14.00 onwards |
| Muthoot Finance | 13.50 onwards |
| Piramal Finance | 12.14 onwards |
| Poonawalla Fincorp | 9.99 onwards |
| Punjab & Sind Bank | 9.60-13.85 |
| Punjab National Bank | 10.25-16.80 |
| Shriram Finance | 11.00 onwards |
| Tata Capital | 10.99 onwards |
| UCO Bank | 9.95 - 13.20 |
| Union Bank of India | 8.75 - 12.55 |
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:
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:
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:
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.
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
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.
What documents are required for Rs. 5 lakh personal loan?
You need to submit your ID proofs, address proofs, income proofs, and latest ITRs to avail a personal loan of Rs. 5 lakh.
Can I foreclose Rs. 5 lakh personal loan?
Yes you can foreclose a personal loan of Rs. 5 lakh after the lockin period expires. If the loan is availed at a fixed interest rate, foreclosure charges are levied on the applicants. However, no foreclosure charges are availed for floating interest rates.
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