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Do you need 4 lakh rupees urgently? Personal loans of Rs. 4 Lakh can fullfill your urgent cash need. You have to ensure that you qualify for the eligibility criteria specified by the bank to get hassle-free loan approval. Personal loans are designed in a very user-friendly manner that is easily accessible and comes along with flexible repayment options. The customers also get the option to choose the tenure of the loan, the maximum tenure of the loan can be 5 years. Go through the entire article to know more about the ₹4 Lakh personal loan.

Purpose of ₹4 Lakh Personal Loan

A personal loan of ₹4 Lakhs can be used for various personal and professional reasons. These include -

  • Medical Emergencies

  • Working Capital Requirements

  • Family Functions

  • Asset Investment

  • Educational Requirements

Interest Rates for ₹4 Lakh Personal Loan


Range of Interest Rate

Bajaj Finance Limited

12% onwards

Axis Bank

10.49% onwards

PaySense Partners

14% onwards


14% onwards

Fullerton India

12% onwards


30% onwards


15% onwards

Muthoot Finance

14.50% onwards

YES Bank

10.99% onwards


21% onwards


24% onwards


16.50% onwards

Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

Eligibility Criteria for ₹4 Lakh Personal Loan

Before you apply for an ₹4 Lakh personal loan, it is important to check if you qualify for the mandatory eligibility parameters -

  • The applicant must be an Indian citizen.

  • The minimum and maximum age of the applicant must be 21 years and 67 years respectively.

  • The applicant must have a stable source of income.

  • In the case of a salaried individual, the applicant must be employed with either a public, private, or, MNC.

  • The CIBIL score of the applicant must be 750 or higher.

  • The minimum monthly income of the applicant must be at least ₹22,000 (The minimum amount differs from city to city.)

4 Lakh Personal Loan EMI for 5 Years

Loan Amount

Tenure (years)

Interest Rate (p.a.)

EMI Amount

₹ 4 Lakh




₹ 4 Lakh



₹ 13,095

₹ 4 Lakh




₹ 4 Lakh




₹ 4 Lakh



₹ 4,546

How to Apply for ₹4 Lakh Personal Loan

The application procedure for an ₹4 lakh personal loan differs from bank to bank. Generally, all the banks and financial institutions offering this service try to make the application procedure simple, quick and hassle-free. Here are a few standard steps that you can follow to apply for a personal loan of ₹4 Lakhs-

  • Visit the official portal of the bank/institute which you wish to get a ₹4 Lakh loan from.

  • Go to the loans section and select the ‘personal loans’ option.

  • Choose the loan plan as per the requirements.

  • You will be redirected to a new page where you have to enter all the information required and submit it along with the documents required.

  • Next, you will have to fill in details related to the loan, EMI as well as tenure.

  • Submit the form.

  • Once the application details are verified, the executives will contact you for further details regarding the loan application.

Documents Required to avail of ₹4 Lakh Personal Loan

The documentation procedure required for an ₹4 Lakh personal loan is basic and customer-friendly. It is different for salaried individuals and self-employed individuals. The list of documents required in the application procedure is mentioned below -

1. For Salaried Applicants

  • Passport-size photographs

  • Identity Proof - PAN Card, Aadhar Card, Driving Licence. Any of these can be used as identity proof.

  • Address Proof - Passport, Aadhar Card, Driving Licence. Any of these can be used as address proof.

  • Signature Proof

  • Bank Statements (last 6 months)

  • Income Tax Report/Form 16

  • Salary Slips (last 3 months)

2. For Self-employed Applicants

  • Passport-size photographs

  • Identity Proof - PAN Card, Aadhar Card, Driving Licence. Any of these can be used as identity proof.

  • Address Proof - Passport, Aadhar Card, Driving Licence. Any of these can be used as address proof.

  • Verified Business Proof

  • Income Tax Challan/ Form 16A

  • Form 26 AS

  • Income Tax Reports (last 2 years)

  • Business Financials (P&L, Balance Sheet) of the last 2 years.

FAQs on ₹4 Lakh Personal Loan

The procedure for getting an ₹4 Lakh personal loan instantly is simple. First, you have to choose the bank/lender you wish to get your loan. Go through the terms and conditions properly before starting the application procedure. Next, go to the official portal of the bank, go to the loans sections and choose the personal loan plan you wish to get. Fill in the required details and submit the form along with the required documents. Click on submit, your application will be sent for the review process.

The ₹4 Lakh personal loan EMI amounts are determined by loan tenure and interest charged on the loan amount. The shorter the tenure, the higher the EMI amount value becomes. Another factor affecting the EMI amount is the rate of interest at which the bank provided the loan. Generally, the rate of interest ranges between 10.25% to 11%.

The interest rate levied on an ₹4 Lakh personal loan differs from bank to bank. It is important to compare all possible alternatives and then choose the lender to gain the maximum profits possible. Generally, the interest rate ranges between 10.25% to 11%.

Yes, the most beneficial feature offered under a personal loan is that it is an unsecured loan. Therefore you can get money in hand whenever you need it without worrying about the collateral.

Various banks are offering an ₹4 Lakh personal loan in the market. The loan plans of these banks differ and therefore it is suggested to compare all the options before making a decision. Some of the most popular banks that offer good deals on ₹4 Lakh personal loans are -

  • SBI

  • Axis Bank

  • Kotak Mahindra Bank

  • ICICI Bank

  • IndusInd Bank

In case, one becomes a defaulter for an ₹4 Lakh loan, the bank will file a criminal case against you under Section 138 of the Negotiable Instruments Act of 1881.

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