Personal Loan for 5 Years

A personal loan with a 5-year tenure offers flexibility to meet diverse financial needs related to travel, weddings, or medical emergencies. With interest rates starting from 9.99% p.a., you can access loans of up to ₹50 Lakhs.

You can also benefit from repayment terms ranging from a few months to a maximum of 96 months. Personal loans come with minimal documentation, quick approvals, and no restriction on usage, making them an efficient financial tool for planned or urgent requirements.

Here is an overview of the interest rates and charges applicable to five year personal loans offered by various lenders on Bajaj Markets:

An EMI calculator helps you quickly estimate your monthly repayments for a 5-year personal loan. By entering details like the loan amount, tenure, and interest rate, you can calculate the EMI and total cost of the loan instantly.

Here are the steps to use an EMI calculator for a 5-year personal loan:

1. Enter the loan amount you plan to borrow (e.g., ₹5 Lakhs)

2. Select the tenure as "5 years" or "60 months"

3. Input the interest rate (e.g., 10% p.a.)

4. View the calculated EMI, total interest, principal, and total payable amount

5. Adjust the inputs to explore different loan scenarios

Here are the eligibility criteria for a 5-year personal loan, which outline the basic requirements applicants must meet to qualify for financing:

• Available to Indian citizens who are salaried or self-employed

• Minimum age requirement of 18 years

• Monthly income of at least ₹10,000

• A minimum of 1 year of work experience

• CIBIL score of 600 or above for eligibility

To apply for a 5-year personal loan, you need to provide basic documents to verify your identity, address, and income. Here's a list of commonly required documents:

Identity Proof (Any one):

• PAN card

• Aadhaar card

• Voter ID

• Passport

• Driving licence

Address Proof (Any one):

• Aadhaar card

• Voter ID

• Passport

• Driving licence

• Recent electricity or telephone bill

Income Proof:

• Bank statements or salary slips for the last 3 months

Photographs:

• Two recent passport-size photographs

Make sure all documents are valid and updated to avoid delays in your loan application process.

Applying for a personal loan via Bajaj Markets is a simple and hassle-free process. Here’s how you can do it:

1. Click on the 'Check Eligibility' option to begin the process

2. Fill in your basic personal details in the online application form

3. Enter the loan amount and select your preferred repayment tenure

4. Submit the application form for verification

A representative will contact you to assist with the further steps.