₹25 Lakh Personal Loan

A personal loan of ₹25 Lakhs helps you manage expenses without affecting your savings when immediate financial support is required. This loan provides the necessary funds, whether for a medical emergency or an urgent trip.

For example, a 3-year personal loan of ₹25 Lakhs at an interest rate of 10% p.a. results in an EMI of approximately ₹80,667 and a total interest payment of approximately ₹4,04,046.

In case the tenure is 5 years, for a loan of ₹25 Lakhs, at an interest rate of 10% p.a., the EMI would be approximately ₹53,117 and total interest amount would be ₹6,87,056. Opting for a longer tenure reduces the monthly EMI but increases the overall interest outgo.

With quick approval and zero paperwork, you receive funds when required and repay them conveniently through fixed monthly EMIs.

Find lenders offering personal loans of up to ₹25 Lakhs on Bajaj Markets, and compare their terms to choose an option that matches your needs:

The chosen tenure can have a massive impact on the instalment amount and the overall cost of the loan. Let us understand this better with the help of an illustration. Assume that you got a ₹25 Lakh loan at an interest rate of 10% p.a. 

Based on the tenure, here is what the EMI of your loan will look like:

Refer to the table below to know the fees and charges that various lenders apply to personal loans:

Calculating your personal loan EMI helps you plan your repayment efficiently before applying. The EMI is calculated using this formula:

EMI = P × R × (1 + R)^N / [(1 + R)^N - 1]

Where:

• P is the loan amount (principal)

• R is the monthly interest rate (annual rate divided by 12, then by 100)

• N is the loan tenure in months

Let’s say you apply for a loan of ₹25 Lakhs at an interest rate of 10% p.a. for 96 months (8 years).

• P = ₹25,00,000

• Annual interest rate = 10%

• Monthly interest rate (R) = 10 / 12 / 100 = 0.00833

• Tenure (N) = 96 months

Now, let us apply these values to the formula:

• EMI = ₹25,00,000 × 0.008333 × (1 + 0.008333)^96 / [(1 + 0.008333)^96 – 1]

• EMI = ₹25,00,000 × 0.008333 × 2.2182 / (2.2182 – 1)

• EMI = ₹25,00,000 × 0.008333 × 2.2182 / 1.2182

• EMI = ₹25,00,000 × 0.015174

• EMI = ₹37,935

So, for a ₹25 Lakh Personal Loan at 10% p.a. for 96 months, your estimated monthly EMI would be approximately ₹37,935.

Here are the eligibility details evaluated by most lenders:

1. Indian citizenship

2. Salaried or self-employed individual

3. Age above 18 years

4. Minimum income of ₹10,000 per month

5. Minimum work experience of 1 year

6. A CIBIL score for a ₹25 Lakhs personal loan would ideally be 750 or more. Ensure that you check your CIBIL score online for receiving instant updates within minutes

You also need to submit the following paperwork:

Applying for a personal loan online is simple and hassle-free. Just follow these steps:

1. Click here to instantly visit the page for the loan application. 

2. Select your occupation from the options in the drop down menu provided

3. Provide your contact details and residential PIN code 

4. Review the terms and conditions thoroughly and accept

5. Click the ‘Proceed’ button to go to the further steps

6. Enter your personal and professional credentials, such as your full name, gender, email ID, PAN number, birth date, net monthly salary, category and name of your employer, and the mode by which your salary is credited to your account.

7. Click on ‘Submit’ to progress further

8. Carefully look through the offers available to you according to your eligibility

9. Pick a loan offer suitable to your requirements and choose your desired repayment tenure

10. Review the details you have entered and submit the loan application

Once your application is submitted, a representative will get in touch with you to proceed with the next steps

Suppose you take a loan of ₹25 Lakhs at an interest rate of 10.99% and a tenure of 8 months. Here is the amortisation breakdown:

Your CIBIL score, which goes from 300 to 900, provides a numerical summary of your financial creditworthiness. Personal loans may have the following effects on your CIBIL score and overall profile:

Pre-approval Impact

When you apply for a personal loan, the lender often does a hard inquiry to review your credit record. This may cause a brief decline in your credit score, which will be shown in your credit file.

Post-approval Impact

Paying back your loans on schedule improves your credit score and shows that you are a responsible borrower. Making consistent, on-time payments shows lenders that you can manage debt, which raises your creditworthiness.

A personal loan of ₹25 Lakhs gives you the freedom to handle major expenses comfortably, whether for personal goals or professional needs. Here’s how you can make the most of this substantial loan amount:

Debt Consolidation

Streamline multiple high-interest debts into a single manageable EMI, potentially at a lower interest rate, and simplify your repayment process.

Medical Expenses

Cover significant medical emergencies or planned treatments with ease. Ensure you have the necessary funds during critical times.

Home Renovation

Upgrade or remodel your home extensively. Enhance its value and improve your living experience without financial strain.

Education Funding

Support higher education expenses, including tuition fees, accommodation, and study materials, whether for yourself or a family member.

Wedding Expenses

Manage wedding costs such as venue bookings, catering, décor, and outfits. Make your celebrations memorable without budget constraints.

Travel Goals

Plan an extended international holiday or multiple vacations, covering flights, stays, and other travel essentials comfortably.

Business Expansion

Invest in your business by adding inventory, hiring staff, or scaling operations, using the loan as growth capital.

Reference of all T&Cs necessarily refers to the terms of the Partners as regards pre-approved offers and loan processing time amongst other conditions.