Personal loan interest rates usually starts from 9.98% p.a. However, the interest rate for a Rs. 75 lakh personal loan may be on the higher side owing to the higher loan amount. Key factors influencing your final interest rates are:
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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
Interest Rate for Rs. 75 Lakh Personal Loan
Eligibility Criteria for a Rs. 75 Lakh Personal Loan
A Rs 75 lakh personal loan is a substantial loan amount. Lenders will only approve loans for individuals with a solid financial background and a high monthly income. Key requirements include:
Note: Existing relationship with the bank/NBFC offering the loan will help secure the loan easily.
Also Read: Loan rejected despite high income? Here’s what you need to know
Tips to Increase Chances of Approval
Also Read: Personal Loan without Salary Slip
Benefits of Availing a ₹75 Lakh Personal Loan
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Documents Required for Rs. 75 Lakh Personal Loan
The commonly required personal loan documents are listed below:
EMI Calculation for Rs. 75 Lakh Personal Loan
| Tenure | 9.98% | 12% | 14% |
|---|---|---|---|
| 1 year | Rs. 6,59,299 | Rs. 6,66,366 | Rs. 6,73,403 |
| 2 years | Rs. 3,46,018 | Rs. 3,53,051 | Rs. 3,60,097 |
| 3 years | Rs. 2,41,933 | Rs. 2,49,107 | Rs. 2,56,332 |
| 4 years | Rs. 1,90,147 | Rs. 1,97,504 | Rs. 2,04,949 |
| 5 years | Rs. 1,59,279 | Rs. 1,66,833 | Rs. 1,74,512 |
Use a Free Personal Loan EMI Calculator to understand your affordability.
Fees & Charges
| Particulars | Applicable Charges |
|---|---|
| Loan Processing Fee | Between 0.5% and 4% of the loan amount |
| Prepayment / Foreclosure | Floating Rate Loans – No charges Fixed Rate Loans – Usually 2% to 5% of the outstanding principal |
| Loan Cancellation | Generally around ₹3,000 |
| Stamp Duty | As per applicable state laws |
| Legal Charges | Based on actuals |
| Penal Interest | About 2% per month (24% annually) |
| EMI / Cheque Bounce | Approximately ₹400 per bounce |
How to Apply for Personal Loan Online
To apply for a personal loan online, follow the steps mentioned below:
- Visit the Paisabazaar app or the website
- Fill in your phone number
- Enter the asked details
- Enter the received OTP
- Browse through the offers
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
Is it really possible to get a ₹75 lakh personal loan?
Yes, but it is rare. Only select banks and NBFCs offer such high-value personal loans, usually to HNIs, senior professionals, and individuals with excellent credit profiles.
What is the eligibility for a ₹75 lakh personal loan?
Applicants must have a high monthly income, a strong credit score (750+), stable employment/business, and preferably an existing banking relationship.
What is the interest rate on a ₹75 lakh personal loan?
Interest rates typically range from 9.98% p.a., depending on the lender, your credit score, and income profile.
Do I need to provide collateral for a ₹75 lakh personal loan?
Most lenders offer it as an unsecured loan based on income and creditworthiness.
What is the tenure available for a ₹75 lakh personal loan?
The repayment tenure usually ranges between 12 months to 7 years, depending on the bank/NBFC and borrower’s profile.
What can I use a ₹75 lakh personal loan for?
You can use it for any personal purpose, such as luxury purchases, weddings, overseas education, medical expenses, or debt consolidation. There are generally no end-use restrictions.
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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