Get an instant personal loan up to Rs. 500,000 for your medical needs, home renovation, weddings, or debt consolidation, with transparent pricing and a fully digital process. Whether you're covering a medical emergency, funding a wedding, or consolidating debt, a ₹5 lakh personal loan gives you the breathing room you need. Apply now, compare 18+ lenders, and get funds in your account within 24 hours.
Loan amount
₹5,00,000
Starting rate
10.49% p.a.
Disbursal
Within 24 hrs
Get ₹5,00,000 Loan at 10.49%* p.a.
Compare 18+ lenders instantly
Get funds in 24 hours
Fully digital process
Your EMI will be
₹16,251
Total Interest Payable
₹85,044
Total Amount Payable
₹5,85,044
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Rates, fees, and disbursal timelines are indicative and may vary by lender, profile, and loan amount. *Terms & conditions apply.
| Feature | Details |
|---|---|
| Loan Amount | Rs. 500,000 (5 Lakh) |
| Interest Rate | Starting from 10.49% p.a. |
| Repayment Tenure | 12 to 84 months |
| Processing Fee | 0.5% – 4% of loan amount |
| Disbursal Time | Within 24 hours |
| CIBIL Score Required | 700+ (750+ for best rates) |
| Collateral Required | None (unsecured, collateral-free) |
| Minimum Salary | Rs. 25000 (May vary by lender) |
| Prepayment Charges | 0% to 5% (lender-specific) |
| Bank/NBFC | Interest Rates (% p.a.) | Processing Fees |
|---|---|---|
| Aditya Birla Capital | 10.99% | 1.5% to 4% |
| Axis Bank | 9.99% p.a* | 2% |
| Bank of Baroda | 10.15 – 18.00 | Up to 2% (Max. Rs. 10,000) |
| Bajaj Finance Limited | 11.00 – 35.00 | Up to 3.93% |
| HDFC Bank | 10.50% | processing fee is up to ₹6,500 + GST |
| ICICI Bank | 9.99% p.a | Up to 2% |
| Kotak Mahindra Bank | 10.99 onwards | Up to 2.5% |
| IDFC First Bank | 9.99% p.a | 0%–3.5%. |
| IndusInd Bank | 11.25 onwards | Up to 2% |
| Yes Bank | 11.75 onwards | Up to 2.5% |
| Tata Capital | 10.99% p.a. | 5% |
| L&T Finance | 11% p.a | 2% of loan amount + taxes |
| Poonawalla Fincorp | 9.99% p.a | 0% to 3% |
| Piramal Finance | 12.14% p.a. | 5% plus applicable taxes |
| InCred Finance | 13.49% p.a | 2%–5% |
| SMFG India Credit | 13% p.a | 3.75% of the total loan amount + GST |
| Finnable | 16% to 30.99% p.a. | 5% + GST |
*Bikesh Finserv special rates
Note: Rates as of 6th June 2026
Explore personal loans by amount
Explore personal loans by amount
A five-lakh personal loan is an unsecured, collateral-free loan that gives you immediate access to Rs. 500,000 for any personal financial need; it can be a medical emergency, home renovation, wedding, travel, or debt consolidation. Since no asset or guarantor is required, approval is based primarily on your credit score, income, and repayment capacity. Interest rates typically start from 10.49% p.a. With repayment tenure ranging from 12 to 84 months, making it easy to plan your EMIs around your monthly budget. You can apply online through leading banks and NBFCs, with most lenders offering disbursal within 24 hours of disbursal.
An EMI calculator helps you estimate your monthly repayment before you apply. For a Rs. 5 lakh personal loan, your EMI depends on the interest rate and tenure you choose — knowing this upfront helps you plan your budget with confidence.
Use our personal loan EMI calculator to try different combinations, or refer to the sample tables below for quick reference.
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure | EMI (Rs.) | Interest Cost (Rs.) |
|---|---|---|---|---|
| 5 lakh | 9.99% | 5 years | 10,621 | 1,37,264 |
| 5 lakh | 12% | 5 years | 11,122 | 1,67,333 |
| 5 lakh | 15% | 5 years | 11,895 | 2,13,698 |
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure | EMI (Rs.) | Interest Cost (Rs.) |
|---|---|---|---|---|
| 5 lakh | 9.99% | 2 years | 23,070 | 53,684 |
| 5 lakh | 9.99% | 3 years | 16,131 | 80,725 |
| 5 lakh | 9.99% | 5 years | 10,621 | 1,37,264 |
Most banks and NBFCs follow standard eligibility criteria for a ₹5 lakh personal loan. These basic criteria improve your chances of approval and help you get a lower interest rate. Here's what they typically look for:
| Aspect | Salaried | Self-employed |
|---|---|---|
| Credit risk | Low credit risk | High credit risk |
| Availability | Easy availability (consistent income / stable job) | Challenging to avail (inconsistent income / unstable job) |
| Interest rates | Lower interest rates | Comparatively higher interest rates |
| Pre-approved offers | Pre-approved offers available | Pre-approved offers might not be available |
| Lender coverage | Widely offered by all banks / NBFCs | Offered with relatively stricter loan terms |
Keeping your documents ready in advance accelerates the approval and disbursal process. Here's what most lenders ask for:
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.5% to 4% of loan amount |
| Prepayment / Part-prepayment / Foreclosure Charges | For Floating Rate: Nil; For Fixed Rate: Usually around 2% – 5% on the principal outstanding |
| Loan Cancellation | Usually around Rs. 3,000 |
| Stamp Duty Charges | As per actuals |
| Legal Fees | As per actuals |
| Penal Charges | Usually @ 2% per month; 24% p.a. |
| EMI / Cheque Bounce | Around Rs. 400 per bounce |
Getting a ₹5 lakh personal loan through Bikesh Finserv is fully digital, simple, and takes just a few minutes to get started.
Yes, it is possible to avail a personal loan of Rs. 5 lakh with a low CIBIL score. Applicants having a credit score below 750 can also get their personal loans approved through Bikesh Finserv. However, these applicants with a lower credit score are usually considered credit risky by lenders and may not get the best offers.
Most top private and public sector banks usually reject the loan applications of individuals with a low credit score. However, many NBFCs and fintech lenders are open to offering personal loans to individuals with a low credit score — though the interest rates offered are typically higher.
Got questions?
The EMI depends on the interest rate and tenure you choose. For instance, your EMI would be roughly ₹16,251 per month at 10.49% p.a. for three years.
For a ₹5 lakh personal loan to be approved, the majority of lenders demand a minimum CIBIL score of 700. On the other hand, you can get the best interest rates and quicker approval if your score is 750 or higher.
A ₹5 lakh personal loan is typically disbursed by lenders within 24 hours of document approval and verification
Yes, self-employed individuals can apply using their ITR or bank statements as income proof.
Yes, more lenders allow prepayment or foreclosure after a lock-in period of 6-12 months. Prepayment charges typically range from 0% to 5% depending on the lender and tenure period.
Compare offers, check eligibility, and get funds for your Rs. 5 lakh personal loan.
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