Lenders usually offer personal loan interest rates starting from 9.98% p.a. onwards to applicants availing a loan amount of Rs 6 lakh. However, some PSU banks might offer a lower interest rate to their personal loan applicants. Lenders usually set their interest rates after factoring in the monthly income, credit score, EMI/NMI ratio, job profile, etc.
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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
Interest Rates for 6 Lakh Personal Loan
6 Lakh Personal Loan Eligbility
The personal loan eligibility criteria of individuals depends on the age, monthly income, credit score, employment profile, employer’s profile and nationality of the applicant. Below-mentioned is the common eligibility criteria set by most lenders for their personal loan applicants.
Documents Required for 6 Lakh Personal Loan
EMI of Rs 6 Lakh Personal Loan
| Loan Tenure | Loan Amount (Rs) | Interest rate (p.a.) | EMI (Rs) |
|---|---|---|---|
| 1 Year | 600000 | 9.99% | 52,747 |
| 2 Years | 600000 | 9.99% | 27,684 |
| 3 Years | 600000 | 9.99% | 19,357 |
| 4 Years | 600000 | 9.99% | 15.215 |
| 5 Years | 600000 | 9.99% | 12,745 |
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How to Apply for 6 Lakh Personal Loan through Paisabazaar
Prospective borrowers can apply for 6 lakh personal loan either through the official website of Paisabazaar or through Paisabazaar app. Applicants planning to apply for 6 lakh personal loan can follow the below-mentioned steps.
Through the Official Website of Paisabazaar:
Through the Paisabazaar app:
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
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FAQs
What is the total interest cost of Rs 6 lakh personal loan at 9.99% p.a. and tenure of 5 years?
The total interest cost of Rs 6 lakh personal loan at 9.99% p.a. for tenure of 5 years is Rs 1,64,716.
What is the interest rate of Rs 6 lakh personal loan?
Lenders usually offer personal loan interest rates starting from 9.99% p.a. depending on the credit profile of the applicant with some PSU banks offering lower interest rates, irrespective of the loan amount.
What is the tenure offered to applicants availing a personal loan amount of Rs 6 lakh?
Personal loan lenders usually offer a tenure of up to 5 years with some lenders offering a loan tenure of up to 7 years as well.
How can I apply for a personal loan of Rs 6 lakh?
You can apply for a personal loan of Rs 6 lakh through the official websites of banks and NBFCs or through their mobile apps. Prospective borrowers can also visit Paisabazaar app to compare the interest rates and other offers by various lenders and apply for the one best suiting your requirements.
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
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