Get a personal loan of ₹7 Lakhs to fulfil various expenses related to home renovations, medical bills, travel expenses, etc. You can get this loan on Bajaj Markets at interest rates starting from just 10.99% p.a. Compare offers from various lenders and find the loan offer that best suits your needs. Repay the loan comfortably over flexible repayment tenures ranging up to 96 months.
Here is a list of all loan providers on Bajaj Markets that offer a personal loan of ₹7 Lakhs:
Lender |
Starting Interest Rate |
Bajaj Finance |
11% p.a. |
InCred |
16% p.a. |
Kotak Mahindra Bank |
10.99% p.a. |
L&T Finance |
12% p.a. |
moneyview |
15.96% p.a. |
Muthoot Finance |
14.50% p.a. |
SMFG India Credit |
12% p.a. |
YES BANK |
12.50% p.a. |
Finnable |
15.95% p.a. |
*Disclaimer: The rates mentioned are subject to change at the lender’s discretion. Check with your lender before making any financial decision.
Your personal loan EMI differs depending on the tenure you choose. Let’s say you have taken a loan of ₹7 Lakhs at an interest rate of 10.99% p.a. The following table shows how the EMI amount changes basis the tenure you select:
Tenure |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
12 months |
₹61,863.90 |
₹42,366.75 |
₹7,42,366.75 |
24 months |
₹32,622.24 |
₹82,933.69 |
₹7,82,933.69 |
36 months |
₹22,913.79 |
₹1,24,896.34 |
₹8,24,896.34 |
48 months |
₹18,088.47 |
₹1,68,246.40 |
₹8,68,246.40 |
60 months |
₹15,216.21 |
₹2,12,972.33 |
₹9,12,972.33 |
72 months |
₹13,320.27 |
₹2,59,059.46 |
₹9,59,059.46 |
84 months |
₹11,982.03 |
₹3,06,490.12 |
₹10,06,490.12 |
96 months |
₹10,992.12 |
₹3,55,243.79 |
₹10,55,243.79 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
As shown in the above table, the EMI amount reduces as the tenure stretches. Meanwhile, the total interest charge increases. This leads to a substantial increase in the total repayment costs. Thus, it is essential to carefully pick a tenure that suits your financial needs and preferences.
Fulfil the following criteria to be eligible for a personal loan of ₹7 Lakhs:
You must be a resident of India
You must be between 18 -65 years of age
You must have a stable source of income
Your CIBIL score should be 750 or above
Also, keep the following documents handy for a smooth application process:
Passport-size photographs
Identity Proof - Aadhaar card, PAN card, etc.
Address Proof - Passport, utility bills, etc.
Income Proof - Salary slips, bank statements, etc.
Check Other Instant Personal Loan Options |
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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 EMI amount for a loan of ₹ 7 Lakhs?
The loan’s EMI amount is determined by considering the loan amount, tenure, and interest. Consider the interest rate offered is 10.99% p.a. In this case, the EMI may range between ₹61,863.90 and ₹11,982.03, depending on the tenure (12 to 84 months).
What is the minimum salary required for a personal loan of ₹7 Lakhs?
Usually, a minimum salary of at least ₹15,000 per month is required to get a personal loan of ₹7 Lakhs. However, this may differ depending on the lender and their policies.
What CIBIL score do I need for a personal loan of ₹7 Lakhs?
The ideal CIBIL score for a personal loan of ₹7 Lakhs is 750 or more. The specific CIBIL score requirements may vary depending on the lender you choose.
Can I get a loan of ₹7 Lakhs without providing any collateral?
Yes. Many lending institutions offer personal loans of ₹7 Lakhs without any collateral requirements.
