Opt for a ₹6 Lakh personal loan on Bajaj Markets and get low interest rates starting from 10% p.a.
Avail Instant Personal Loans ✓ Quick Disbursal ✓ Minimum Documentation!
Need ₹6 Lakhs to fund a large purchase or make a huge down payment? Consider getting a ₹6 Lakh personal loan on Bajaj Markets. Enjoy the simple online application process that comes with minimal documentation requirements. Also, repay the borrowed amount over flexible repayment periods of up to 96 months.
Here are all the lenders on Bajaj Markets that provide ₹6 Lakhs personal loan:
Lenders |
Starting Interest Rate |
Bajaj Finance |
10% p.a. |
Finnable |
15.95% p.a. |
InCred |
16% p.a. |
Kotak Mahindra Bank |
10.99% p.a. |
L&T Finance |
12% p.a. |
moneyview |
16% p.a. |
Muthoot Finance |
14.50% p.a. |
SMFG India Credit |
12% p.a. |
YES BANK |
12.50% p.a. |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Here is a simple example to help you understand how a change in loan tenure can impact your EMIs. Consider you took ₹6 Lakhs loan at an interest rate of 10% p.a. The following table shows how the instalment amount varies across different repayment periods:
Tenure |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
1 year (12 months) |
₹53,026.20 |
₹36,314.36 |
₹6,36,314.36 |
2 years (24 months) |
₹27,961.92 |
₹71,086.02 |
₹6,71,086.02 |
3 years (36 months) |
₹19,640.39 |
₹1,07,054.00 |
₹7,07,054.00 |
4 years (48 months) |
₹15,504.40 |
₹1,44,211.20 |
₹7,44,211.20 |
5 years (60 months) |
₹13,042.46 |
₹1,82,547.71 |
₹7,82,547.71 |
6 years (72 months) |
₹11,417.37 |
₹2,22,050.96 |
₹8,22,050.96 |
7 years (84 months) |
₹10,270.31 |
₹2,62,705.82 |
₹8,62,705.82 |
8 years (96 months) |
₹9,421.82 |
₹3,04,494.67 |
₹9,04,494.67 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
As the tenure increases there is a gradual increase in the interest charges. On the other hand, a drop in the instalment amount is visible. Thus, as the tenure increases so does the total repayment cost of the loan. However, the lower EMI can help reduce the strain on your monthly budget and enable you to manage your finances effortlessly.
While the eligibility criteria may differ from lender to lender, the following details can give you a basic idea of personal loan eligibility requirements:
Nationality: Indian
Minimum age: 18 years
Employment type: Salaried or self-employed
Monthly income: ₹15,000 or more
Minimum CIBIL score: 750 or more
Furthermore, you may be asked to provide the following documents when applying for the loan:
2 passport-size coloured photographs
Income proof: Any of the following
Salary slips
Bank statement of the last 3 to 6 months
ID proof: Any of the following
Driving licence
PAN card
Aadhaar card
Passport
Voter ID
Address proof: Any of the following
Aadhaar card
Passport
Driving licence
PAN card
Voter ID
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Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Frequently Asked Questions
What is the minimum salary for a ₹6 Lakh loan?
You are usually required to have a minimum monthly income of ₹15,000 to qualify for a personal loan of ₹6 Lakhs. This may differ from one lender to another.
How much credit score do I need for a ₹6 Lakh personal loan?
The CIBIL score requirement usually varies depending on the lender you choose. However, having a score of 750 or more is considered to qualify for the loan and get better loan terms. This includes low interest rates and flexible repayment options.
What is the repayment tenure for ₹6 Lakh personal loan?
You can choose a repayment tenure of up to 96 months for ₹6 Lakh loan.
Is collateral required for ₹6 Lakhs personal loan?
No. Personal loans are collateral-free, thus not requiring you to pledge any of your assets to borrow ₹6 Lakhs.
