You may get the Rs. 5 lakhs personal loan within 72 hours. If you have a Rs. 12,000 net salary, you can get the loan with a 1.85% annual interest rate. The loan application process is simple.
Also, you may be eligible for pre-approved personal loans from some lenders. But this offer is available for selected customers only.
Get a 5 Lakh Personal Loan
| Company | WeRize |
| Loan Amount | Up To 5 Lakh |
| Interest Rate | 18% to 21% p.a. |
| LoanTenure | 1 -3 years |
| Age Required | 23 -55 years |
| Income Required | Rs. 12,000 Net Salary |
| Processing Fees | Up to 3% of the loan amount |
| Eligible For | Salaried Employee |
Features of 5 Lakh Personal Loan
- The loan disbursement process is simple
- Get a personal loan with minimal documents
- Flexible loan repayment tenure of up to 36 months.
- No other hidden charges
- The money will credit within 72 hours.
Also Read: Personal Loan for Minimum Salary 14,000
Compares Other Lender’s Interest Rate
| Banks/NBFCs | Interest Rates(p.a.) | Income Required | |
| WeRize | 14.00%-21.00% | Net Salary Rs.12,000 | Apply Now |
| MoneyWide | 16.83% to 32.83% | Net Salary Rs. 25,000 | Apply Now |
| Bandhan Bank | 10.50% to 12.65% | Net Salary Rs. 20,000 | Apply Now |
| InCred | 18% onwards | Net Salary Rs. 15,000 | Apply Now |
| PaySense | 16.80%- 27.60% | Net Salary Rs. 18,000 | Apply Now |
| HDFC | 10.75%- 21% | Net Salary Rs. 40,000 | Apply Now |
| Upward | 9% – 32% | Net Salary Rs. 21,000 | Apply Now |
| Payme India | 18% to 42% | Net Salary 15,000 | Apply Now |
Eligibility Criteria for Personal Loan of 5 Lakh
The below eligibility criteria are required for a personal loan of 5 lakhs:
- It would be best if you were Indian Citizenship
- Your net monthly salary should be Rs. 12,000
- 1 year’s salary account bank statement required
- Applicant should be working on private limited, public limited, or government employee. (If you have PF no, a non-private limited company is also eligible)
- The age of the applicant is between 23 to 55 years.
- Your credit score should be -1 or 700+
Also Read: 10+ Best Loan Apps for Low Credit Scores
Documents Required for 5 Lakh Loan
- The applicant’s Pan Card
- The applicant’s Aadhaar Card
- Recent 3 months Salary Slips
- 12 months Salary Account Bank Statement pdf format
- Co-applicant’s Aadhaar Card (Address Proof)
- Co-applicant Pan Card (Identity Proof)
- Electricity Bill / Gas Bill/ Property Tax as a Residential Proof
How to Apply for a 5 Lakh Loan
Step 1: Click on the above “WeRize Personal Loan” button.
Step 2: Now, you have to fill up the essential details.
Step 3: The third step is to enter your residential pin code.
Step 4: After that, upload your Pan Card, Aadhaar Card, Salary Slip & 1 yr bank statement pdf.
Step 5: Now, WeRize check your loan eligibility.
Step 6: WeRize credit team will call you for the verification process.
Step 7: Now, you will get the loan offer. The money will credit after the e-mandate process.
FAQs on 5 Lakh Loan
How to get a 5 lakh personal loan?
Your money net salary should be Rs. 12,000 required to get the 5 lakhs personal loan.
What is the interest of a 5 lakh loan?
The interest rate is 1.85% per month. It will depend on your credit score.
How much age is required to get the loan?
Your age should be between 23 to 55 years required.
Which location 5 lakh loan available?
The 5 lakh loan is available on the pan India location.