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Long-Term Loans

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₹65k Cr+Loans Disbursed
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ICICI BankICICI Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2.5%
Max. Loan Amount₹2 Crore
HDFC BankHDFC Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹4999+GST
Max. Loan Amount₹50 Lakh
Axis BankAxis Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹40 Lakh
Kotak BankKotak Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹12999+GST
Max. Loan Amount₹50 Lakh
Bajaj FinservBajaj Finserv
Processing Time1 - 2 Days
Interest Rate10% onwards
Processing FeesUpto 1.2%
Max. Loan Amount₹75 Lakh
IDFC First BankIDFC First Bank
Processing Time1 - 2 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹1 Crore
CholamandalamCholamandalam
Processing Time3 - 5 Days
Interest Rate17% onwards
Processing FeesUpto 4%
Max. Loan Amount₹50 Lakh

What is a Long-Term Personal Loan?

A type of personal loan repaid over a longer period of time, usually 3 to 7 years.  These loans are commonly used by borrowers to fund large or major expenses like renovations or repairs, costs of higher education, debt consolidation or more.

Example EMI for Long-Term Personal Loan

Example EMI for Rs. 5 Lakh Personal Loan at 12% p.a.

Tenure EMI (Approx.) Total Interest Payable Total Amount Payable
3 Years (36 months) Rs. 16,600 Rs. 97,600 Rs. 5,97,600
5 Years (60 months) Rs. 11,100 Rs. 1,66,000 Rs. 6,66,000
7 Years (84 months) Rs. 8,800 Rs. 2,39,200 Rs. 7,39,200

As tenure increases, EMI becomes more affordable, but the total interest cost rises significantly.

Advantages of Long-Term Personal Loans

  • Extended loan tenure reduces the monthly EMI amount, making repayment easier on budget. Additionally, it leaves the borrower with more disposable income, helping them meet their financial obligations without strain.
  • Easier repayment ensures timely payment of EMI, helping in building/improving the credit score of the borrower and thereby, improving their future loan and credit card eligibility.
  • Reduced EMI in long-term personal loans helps borrowers keep their EMI/NMI ratio within the preferred lenders’ limit of 50-55%. This boosts their approval chances of future loans.
  • Lower EMI/NMI ratio increases EMI affordability, thereby, helping them to avail higher loan amounts.
  • A wide range of lenders to choose from considering most lenders offer personal loans for 1 to 5 years.

Eligibility Criteria for Long-Term Personal Loan

The eligibility criteria for long-term personal loans can vary across lenders. However, the undermentioned list would give you a fair idea about personal loan eligibility criteria required for availing long-term personal loans.

  • Minimum age: Usually 21 years
  • Minimum monthly income: Rs 15,000 or above (for most lenders)
  • Credit scores of 750 and above
  • Salaried individuals employed with government or public sector companies have higher chances of availing long-term personal loans. They are followed by salaried individuals working with MNCs or reputed private sector organizations.
  • Self-employed individuals are required to have business vintage of at least 3 years

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Documents Required

  • ID Proof- PAN Card/Voter ID/Aadhar Card/Driving License/Passport
  • Address Proof- Aadhar card/electricity bills/gas connection bills/Voter ID/Driving License/Passport/copy of ration card
  • Form 16/ITR for past 3 years
  • Salary slips for past 3 months
  • Bank account statement for last 6 months

How to Apply for Long-Term Personal Loan on Paisabazaar

Applicants can follow the steps mentioned below to apply for a long-term personal loan through the Paisabazaar app:

  • Download the Paisabazaar app from the Google Play Store or Apple App Store
  • Sign in by providing the required details
  • Head to the personal loan section
  • Fill in the asked details (employment type, income range)
  • Scan through the list of curated lenders, ranked in order of their approval chances
  • Apply for the best suited offer

Why Compare Long-Term Personal Loans on Paisabazaar

Paisabazaar provides borrowers with 30+ curated personal loan offers from leading banks and NBFCs in one place. Additionally, Paisabazaar offers multiple benefits as discussed below:

  • Single application for multiple offers
  • No end-use restriction
  • Minimal documentation
  • Access to pre-approved offers
  • Competitive interest rates
  • Transparent fees and charges
  • Access to free credit score checks
  • Access to free EMI calculator

Tips to Choose the Right Long-Term Loan

Choosing the right long-term personal loan can help borrowers navigate their repayment journey smoothly. Borrowers can follow the tips mentioned below before finalising on a loan offer:

  • Compare personal loan offers on Paisabazaar to choose the best suited offer with the lowest interest rate.
  • Factor in other charges like processing fees, penal charges, foreclosure charges and more for a holistic view before making the final call.
  • Thoroughly analyse your repayment capacity and borrow accordingly. This ensures you borrow the right amount to meet the financial demand without straining your finances.
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What our customers say

Get My Personal loan disbursed

I would like to give a huge shoutout to Munni Nayak from Paisabazaar for her incredible support in helping me get my personal loan disbursed within just a few days. She was extremely cooperative throughout the entire process and demonstrated great knowledge by explaining every step in detail with patience and clarity. I truly appreciate her dedication, professionalism, and the smooth experience she provided. Thank you so much, Munni, for all your help and support!

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Preeti BhattMay 16, 2026

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
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Anubhuti Agrawal profile
Written ByLinkedIn icon
Anubhuti Agrawal
Shamik Ghosh profile
Reviewed ByLinkedIn icon
Shamik Ghosh

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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