On Bajaj Markets, get easy access to funds with ₹8 Lakh loan
Avail Instant Personal Loans ✓ Quick Disbursal ✓ Minimum Documentation!
You can get ₹8 Lakh personal loan at interest rates starting from 10.99% p.a. The application process is fast and simple with minimal documentation requirements. You can also get a tenure of up to 96 months to repay the loan as per your convenience.
Here are lenders that offer ₹8 Lakh loan on Bajaj Markets:
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. |
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.
Let’s say you got ₹8 Lakh loan at an interest rate of 10.99% p.a. Here’s how a change in tenure impacts the instalment amount:
Tenure |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
1 year (12 months) |
₹70,701.60 |
₹48,419.14 |
₹8,48,419.14 |
2 years (24 months) |
₹37,282.56 |
₹94,781.36 |
₹8,94,781.36 |
3 years (36 months) |
₹26,187.19 |
₹1,42,738.67 |
₹9,42,738.67 |
4 years (48 months) |
₹20,672.53 |
₹1,92,281.60 |
₹9,92,281.60 |
5 years (60 months) |
₹17,389.95 |
₹2,43,396.94 |
₹10,43,396.94 |
6 years (72 months) |
₹15,223.17 |
₹2,96,067.95 |
₹10,96,067.95 |
7 years (84 months) |
₹13,693.74 |
₹3,50,274.43 |
₹11,50,274.43 |
8 years (96 months) |
₹12,562.43 |
₹4,05,992.90 |
₹12,05,992.90 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
The eligibility criteria for a ₹8 Lakhs personal loan is as follows:
Nationality: Indian
Minimum age: 18 years
Employment type: Self-employed or salaried individuals
Monthly income: ₹15,000 or more
CIBIL score: 750 or more
Also, furnish the following documents when applying for the loan:
2 passport-size photographs
Income Proof
Salary slips
Bank statements of 3 to 6 months
ID Proof: Any one 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
You may be required to submit some additional documents when applying for ₹8 lakh loan. Get a complete list of the necessary paperwork from your lender before you apply for a smooth application process.
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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 required to get a ₹8 Lakh personal loan?
You are usually required to have a monthly salary of at least ₹15,000 to be eligible for a ₹8 Lakh loan. However, this requirement may vary from one lender to another.
What CIBIL score is required to get a ₹8 Lakh personal loan?
Ideally, you are required to have a CIBIL score of 650 or more to qualify for a ₹8 Lakh personal loan.
What are the benefits of a ₹8 Lakh personal loan?
₹8 Lakh loan can be used to fulfil multiple requirements. Some of these include:
Home renovation
Down payment
Debt consolidation
Large purchases
Vacation
Business trip
- Education fee, etc.
The ₹8 Lakh loan is easily accessible and can be useful in bridging the gap in your finances during emergencies. The amount once approved is sent to your bank account within minutes. Also, you can get a tenure of up to 96 months, which makes it easy to manage and repay the loan.
What is the EMI for a 8 Lakh personal loan?
The EMI for your 8 Lakh personal loan would depend on the repayment tenure and the interest rate that is levied by your lender. For example, the 8 Lakh personal loan EMI for 3 years would be different from that of 8 Lakh personal loan EMI for 5 years. You can get a fair idea of the payable EMI in a few seconds by making use of the personal loan EMI calculator.
