- Interest Rates starting from 9.98% p.a.
- Loan tenure ranging from 5-7 years
- For personal purposes including wedding, travel, education, medical emergency, etc.
- Collateral-free loans with no end usage restriction
- Pre-approved loans with instant disbursal
- Digital processing with minimum or no documentation
60 Lakh Personal Loan
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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 Fee₹ 6,500
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%
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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
Apply Now
Features of Rs 60 Lakh Personal Loan
Interest Rates for Rs 60 Lakh Personal Loan
Lenders usually offer personal loans at interest rates starting from 9.98% p.a. depending on the credit profile of the applicants. Personal loan interest rates are set after factoring in the monthly income, credit score, job profile and EMI/NMI ratio of the applicant. Note that, some PSU banks might offer lower interest rates as well.
Fees and Charges for Personal Loan of Rs 60 Lakh
EMI Calculation for Personal Loan of Rs 60 Lakh for Different Tenures
Below-mentioned is the EMI calculation of personal loan of Rs 60 lakh offered at 9.99% p.a. for different tenures. Applicants planning to avail a personal loan can calculate the EMI and total interest cost payable throughout the loan tenure using online personal loan EMI calculator.
| Loan Amount | Loan Tenure | Interest Rate (p.a.) | EMI (Rs) |
|---|---|---|---|
| Rs 6000000 | 1 year | 9.99% | 5,27,467 |
| Rs 6000000 | 2 years | 9.99% | 2,76,842 |
| Rs 6000000 | 3 years | 9.99% | 1,93,575 |
| Rs 6000000 | 4 years | 9.99% | 1,52,147 |
| Rs 6000000 | 5 years | 9.99% | 1,27,453 |
Who can Avail a Personal Loan of Rs 60 Lakh
Lenders usually set their personal loan eligibility criteria depending on the age, monthly income, credit score, employment profile and EMI/NMI ratio of the applicants. Below-mentioned is theeligibility criteria of personal loan applicantsplanning to avail a personal loan of Rs 60 lakh.
Documents Required for Availing a Personal Loan of Rs 60 Lakh
Applicants should have the below-mentioned documents while applying for a personal loan:
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
Apply Now
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FAQs
What is the EMI for Rs 60 lakh personal loan offered at 9.99% p.a. for a tenure of 7 years?
The EMI for Rs 60 lakh personal loan offered at 9.99% p.a. for a tenure of 7 years would be Rs 99,576.
Do I need to submit a collateral for availing a personal loan of Rs 60 lakh?
Personal loans are unsecured loans. Hence, you need not submit any collateral while availing a personal loan of Rs 60 lakh. However, personal loans are offered at higher interest rates due to their collateral-free nature.
What is the minimum salary required for availing a personal loan of Rs 60 lakh?
Applicants planning to avail a loan amount of up to 60 lakh should have a very high income in order to repay the loan. However, the minimum income requirement is not specified by any lender, but the EMI/NMI ratio of the applicant should be 50-55% including the existing EMIs and the EMI of the proposed personal loan.
At what minimum credit score can I avail a personal loan of Rs 60 lakh?
You can avail a personal loan of Rs 60 lakh at low interest rates if you have a credit score of 750 and above. However, individuals having a low credit score can also avail personal loans but at a higher interest rate.
For what tenure can I avail a personal loan of Rs 60 lakh?
You can avail a personal loan of Rs 60 lakh for a tenure of up to 5 years. However, some lenders also offer personal loans for longer tenure.
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%.
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