Avail of an Online Loan of up to ₹5 Lakh Instantly!
Need funds urgently to manage your emergency expenses? Get a ₹5 Lakh loan from Poonawalla Fincorp to meet your unforeseen exigencies – from medical bills to financing education costs. Get this collateral-free loan with no end-usage restrictions, competitive interest rates, swift approval and instant disbursal. Apply now!
5 Lakh Loan EMI Calculator Online
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EMI Amount = *
Interest Rate for ₹5 Lakh Loan and Other Charges
Avail of an instant loan of ₹5 Lakh at competitive interest rates and nominal charges:
| Interest Rates | 16%* p.a. onwards |
| Loan Amount | ₹50,000 to ₹5 Lakh |
| Tenure | 1 to 36 Months |
| Loan Processing Fees | upto 4.5% + Applicable Taxes |
| Lowest EMI per Month | ₹1,758* for 36 months |
| Foreclosure/Pre-Payment Charges | 0% if paid from own sources & 4% if paid from other sources |
| Default Charges | 24% per annum |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
What Will Be the Monthly EMI for a Loan of ₹5 Lakh?
The EMI for a personal loan of ₹5 Lakh depends on the interest rate and loan tenure. Use our online EMI calculator to know your monthly repayments. Enter the loan amount, repayment tenure and interest rate on the EMI calculator to get the EMI estimate:
| Loan Tenure | Approximate EMI at 16%* p.a. |
| 1 year | ₹45,365*/month |
| 2 years | ₹24,482*/month |
| 3 years | ₹17,579*/month |
Features and Benefits of a Loan of ₹5 Lakh
You can easily get a Personal Loan of ₹5 Lakh through a straightforward process that involves:
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Collateral-free Loan
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Quick Approval
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No Hidden Charges
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No-end Use Restrictions
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Flexible EMIs
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Minimal Paperwork
Eligibility Criteria & Required Documents for a ₹5 Lakh Loan
Check Eligibility Details
Meet our simple eligibility criteria:
- Age: 25 to 55 years.
- Nationality: Indian citizen.
- Annual household income: At least ₹3 Lakh.
Check Needed Documents
Submit just a few documents to apply for the loan:
- KYC Documents: PAN Card/Aadhaar Card/Driving License/Voter ID/Passport
- Address Proof: Passport, utility bills, rent agreement, etc.
Online Process To Apply for a ₹5 Lakh Loan
1. Click on ‘Apply Now’
Tap the ‘Apply Now’ button to initiate the application process
2. Enter Details
Enter your DOB, PAN Card number, net monthly income and residential details
3. Upload Documents
Upload the necessary documents to get quick approval.
Apply for a Personal Loan of ₹5 Lakh Within Minutes!
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Frequently Asked Questions on ₹5 Lakh Loan
The minimal amount for an instant Personal Loan from Poonawalla Fincorp is ₹50,000 and the maximum amount is ₹5 Lakh.
To increase the chances of availing of our instant loan of ₹5 Lakh, maintain a CIBIL score of 750 and above, limit your credit utilization ratio to 30%, fulfil our eligibility criteria and submit the necessary documents to improve your chances of quick loan approval.
Having a low credit score reduces your chances of getting approval on our ₹5 Lakh loan. Ensure that you have a CIBIL score of 750 and above to improve your chances of availing of an instant personal loan of ₹5 Lakh.
*Terms & Conditions Apply
