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₹4 Lakh Personal Loan

A ₹4 lakh personal loan through Bajaj Markets may be approved and disbursed within 24 hours, subject to the lender’s verification and approval process. Since personal loans are generally unsecured, eligible applicants typically do not need to provide collateral and may be able to complete the application with minimal documentation.

Your Personal Loan EMI

₹ 8,499

Total Interest Amount

₹ 109,929

Principal Amount

₹ 4,00,000

Total Payable Amount

₹ 5,09,929

Loan Amount

Min Max

Interest Rate

- +

Tenure

- +

Apply for ₹4 Lakhs Loan

With minimal documentation and fast approvals, the ₹4 Lakh personal loan ensures that you receive the funds when you need them the most.

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Year	EMI	Principal	Interest	Balance

Loan amounts offered by lending partners may range from ₹1,000 to ₹55 lakh, depending on the applicant’s profile and the lender’s eligibility criteria. For example, a ₹4 lakh loan at 10% p.a. for three years would result in an estimated EMI of approximately ₹12,906 per month. The actual rate, tenure, EMI and disbursal time may vary by lender.

Compare ₹4 Lakh Personal Loan Interest Rates & Charges

You can check the ₹4 Lakh loan interest rates offered by lenders on Bajaj Markets:

Available Offerings	Max. Loan Amount	Min. Interest Rate	Max. Tenure	Processing Fees
Bajaj Finance Personal Loan	₹55 Lakhs	10% p.a.	108 months	Up to 4.13% of the loan amount + taxes (if applicable)
Kotak Mahindra Bank Personal Loan	₹40 Lakhs	10.99% p.a.	72 months	Up to 1.5% of the loan amount + taxes (if applicable)
Federal Bank Personal Loan	₹5 Lakhs	12.75% p.a.	48 months	Up to 2-3% of the loan amount + taxes (if applicable)
SMFG India Credit Personal Loan	₹25 Lakhs	12% p.a.	60 months	Up to 6% of the loan amount + taxes (if applicable)
L&T Finance Personal Loan	₹15 Lakhs	12% p.a.	48 months	Up to 3% of the loan amount + taxes (if applicable)
Fibe Personal Loan	₹5 Lakhs	14% p.a.	36 months	Up to 2% of the loan amount + taxes (if applicable)
Kissht Personal Loan	₹4 Lakhs	14% p.a.	24 months	3% to 5% of the loan amount + taxes (if applicable)
KreditBee Personal Loan	₹10 Lakhs	12% p.a.	60 months	Up to 5.1% + GST
PaySense Personal Loan	₹5 Lakhs	14% p.a.	60 months	Up to 2.75% of the loan amount + GST or ₹500 (whichever is higher)
Muthoot Finance Personal Loan	₹10 Lakhs	14.5% p.a.	60 months	Up to 4% of the loan amount + taxes (if applicable)
Finnable Personal Loan	₹10 Lakhs	15.95% p.a.	60 months	Up to 3% of the loan amount + taxes (if applicable)
InCred Personal Loan	₹10 Lakhs	13.99% p.a.	60 months	Up to 5% of the loan amount + taxes (if applicable)
Moneyview Personal Loan	₹10 Lakhs	1.33% p.m.	60 months	Starting from 2% of the loan amount + taxes (if applicable)
Piramal Finance Personal Loan	₹6 Lakhs	17.25% p.a.	60 months	1.50% to 4.50% of the loan amount
Freo Personal Loan	₹5 Lakhs	12% p.a.	36 months	1% onwards
Zype Personal Loan	₹5 Lakhs	18% p.a.	12 months	2% to 6% of the loan amount
Unity SFB Personal Loan	₹5 Lakhs	16% p.a.	36 months	3% of the loan amount
Poonawalla Fincorp Personal Loan	₹5 Lakhs	16% p.a.	36 months	Up to 5% of the loan amount plus applicable taxes
Prefr Personal Loan	₹5 Lakhs	17.99% p.a.	48 months	3% to 5%
PayU Finance Personal Loan	₹5 Lakhs	23% p.a.	36 months	2.5% to 4% of the loan amount
FatakPay Personal Loan	₹5 Lakhs	18% p.a.	48 months	2% – 6%

Disclaimer: The mentioned rates are subject to change at the lender’s discretion.

How to Calculate Your Personal Loan EMI

You can determine your personal loan EMI using the formula based on the loan amount, rate of interest, and loan tenure.

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

Where:

P = Loan amount
R = Monthly interest rate (Annual interest rate/12/100)
N = Loan tenure in months.

For example, you borrow a personal loan of ₹4 Lakhs at an interest rate of 10% per annum for 60 months. In this case, your calculated EMI is ₹8,498. You have to pay a total interest of approximately ₹1,09,929 over the loan term. Your overall repayment amount reaches ₹5,09,929.

What Will My ₹4 Lakh Loan EMI Be

You can estimate your monthly repayments across different tenures using the Personal Loan EMI Calculator.

The illustrative table below shows how the EMI may vary at different interest rates:

Interest Rate	12 Months	36 Months	60 Months	72 Months
10% p.a.	₹ 35,166	₹ 12,906	₹ 8,498	₹ 7,410
12% p.a.	₹ 35,539	₹ 13,285	₹ 8,897	₹ 7,820
14% p.a.	₹ 35,914	₹ 13,671	₹ 9,307	₹ 8,242
16% p.a.	₹ 36,292	₹ 14,062	₹ 9,727	₹ 8,676

Disclaimer: The EMI figures above are illustrative and may vary depending on the lender, final interest rate, tenure, processing fees, and other applicable charges.

For reference, the total interest on a ₹4 Lakh loan at 10% p.a. over 3 years is approximately ₹ 64,647. Over 5 years, the total interest is approximately ₹ 1,09,929, taking the total repayment amount to around ₹ 5,09,929.

Is a ₹4 Lakh Loan Right for You

A ₹4 Lakh personal loan can be used for a range of planned or unexpected expenses, depending on your financial requirement:

Situation	Why ₹4 Lakh Works
Medical emergency	Can help cover hospitalisation, treatment, surgery, or diagnostic expenses.
Home renovation	Can support expenses such as painting, kitchen upgrades, repairs, or minor structural work.
Debt consolidation	Can be used to combine multiple eligible debts into a single repayment obligation.
Travel and holidays	Can help cover flight bookings, accommodation, tours, and related travel costs.
Wedding expenses	Can support costs such as venue bookings, catering, jewellery, and event arrangements.
Higher education	Can help cover admission fees, professional courses, certifications, or skill-development programmes.

Eligibility for a ₹4 Lakh Personal Loan

Eligibility requirements for a ₹4 Lakh personal loan vary across lenders. The following criteria may generally apply:

Parameter	Eligibility Requirement
Age	18 to 65 years
Employment	Salaried or self-employed individual
Minimum Monthly Income	₹10,000 to ₹30,000 per month, depending on the lender and city
CIBIL Score	650 or above may be preferred
Work Experience	Minimum 1 year of total work experience, including at least 6 months with the current employer
Nationality	Resident Indian

Disclaimer: Eligibility criteria vary by lender and applicant profile. Meeting these requirements does not guarantee loan approval, which remains subject to the lender's internal assessment and policies.

Can I Get a ₹4 Lakh Loan Without a CIBIL Score

Yes, you may be eligible for a ₹4 lakh personal loan even without an established CIBIL score, depending on the lender’s criteria. Lenders may also consider your income consistency, employment stability, bank-account activity and repayment capacity when assessing your application.

You may be considered if you:

Have a CIBIL score of around 650 or lower.
Are a first-time borrower with limited or no credit history.
Are self-employed or do not receive a regular salaried income.

Approval is not guaranteed and remains subject to the lender’s credit assessment, eligibility requirements, interest rate and other applicable terms. A lower score may also result in stricter conditions or a higher interest rate.

Documents Required for a ₹4 Lakh Loan

For a ₹4 Lakh loan, lenders generally require basic identity, address, and income verification documents:

Income Proof (Any one of the following)	Address Proof (Any one)	Identity Proof (Any one)
Bank statements	Aadhaar card	Aadhaar card
Salary slips for the last 3 months	Voter ID	Voter ID
	Passport	PAN card
	Utility bills	Driving licence
	Driving licence	Passport

Eligibility and documentation requirements can differ based on the lender selected. It is important to obtain a complete list of the necessary criteria and documents before submitting a loan application.

How to Apply for a Personal Loan of ₹4 Lakhs

If you fulfil the required eligibility criteria and are ready to apply, then, here are the steps you can follow to apply both on App and website:

Click here to access the application page
From the dropdown menu, select your profession
Enter your mobile number and PIN code
Review and accept the terms and conditions
Click ‘Proceed’ to move forward
On the following screen, fill in the required details, such as, PAN number, name (as per PAN) and date of birth. Also, fill details for net monthly salary, employer category, company or employer name, email ID, gender, salary credit mode (whether through bank account or cash)
Once all information is entered, click ‘Submit’
You’ll be shown eligible loan offers based on your inputs
Select your preferred offer, choose the loan tenure, and submit your application

You’ll then be redirected to the lender’s website to complete the remaining steps, such as KYC, e-mandate, and disbursal.

Tips to Repay Your Personal Loan

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Disclaimer

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

How can I get a ₹4 Lakhs instant personal loan?

Apply for a ₹4 Lakh personal loan on Bajaj Markets by entering your details, selecting a lender, choosing your loan terms, and submitting the application, after which a representative will assist you further.

What is the EMI for a ₹4 Lakh Personal Loan?

The EMI for a personal loan of ₹4 Lakhs is determined by the loan tenure and interest charged on the loan amount. The shorter the tenure, the higher the EMI becomes. Another factor affecting the ₹4 Lakh Personal Loan EMI is the rate of interest. Use a personal loan EMI calculator to check the instalment amount of your loan on the basis of the loan terms offered to you.

What is the interest rate charged on a ₹4 Lakh Personal Loan?

The interest rate charged on a personal loan of ₹4 Lakhs differs from one lender to another. On Bajaj Markets, the rates offered by lenders start from just 10% p.a.%.

Can I get a ₹4 Lakhs loan without collateral?

Yes, you can get the loan without having to submit any of your valuable assets as collateral.

What will happen if I default on the ₹4 Lakh Personal Loan?

If you miss your loan payments, the lender may apply applicable penal charges. Continued non-payment over time may lead to further recovery actions, in line with applicable laws and regulations.

What is the repayment tenure for a personal loan of ₹4 Lakhs?

On Bajaj Markets, you can get a tenure of up to %$$plmaxten%$$% on a personal loan of ₹4 Lakhs.

Can I prepay or foreclose a personal loan of ₹4 Lakhs, and are there any penalties for doing so?

Yes, you can prepay or foreclose your personal loan. However, you may be required to pay a nominal charge for utilising this facility. The rate may differ from one lender to another, depending on their policies.

How much CIBIL score is required for a ₹4 Lakhs loan?

You must typically have a CIBIL score of 650 to get a personal loan of ₹4 Lakhs.

Which is the best bank for a ₹4 Lakh Personal Loan?

Some leading lenders that offer personal loans of ₹4 Lakhs on Bajaj Markets include:

Bajaj Finance
Kotak Mahindra Bank
Federal Bank
L&T Finance
SMFG India Credit
Kissht
Fibe
KreditBee
Muthoot Finance
PaySense
Finnable
Moneyview
InCred
Freo
Zype

How to use the ₹4 Lakh Personal Loan EMI calculator?

To use the ₹4 Lakh Personal Loan EMI calculator, enter the loan amount, select the tenure, and input the applicable interest rate. The tool will instantly display the estimated EMI, total interest payable, and overall repayment amount.

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₹4 Lakh Personal Loan