Can I Get a 5 Lakh Loan

Can I Get a 5 Lakh Loan? – Get a Loan within 72hr

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

Loan AmountUp To 5 Lakh
Interest Rate18% to 21% p.a.
LoanTenure1 -3 years
Age Required23 -55 years
Income RequiredRs. 12,000 Net Salary
Processing FeesUp to 3% of the loan amount
Eligible ForSalaried 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/NBFCsInterest Rates(p.a.)Income Required
WeRize14.00%-21.00%Net Salary Rs.12,000Apply Now
MoneyWide16.83% to 32.83%Net Salary Rs. 25,000Apply Now
Bandhan Bank10.50% to 12.65%Net Salary Rs. 20,000Apply Now
InCred18% onwardsNet Salary Rs. 15,000Apply Now
PaySense16.80%- 27.60%Net Salary Rs. 18,000Apply Now
HDFC10.75%- 21%Net Salary Rs. 40,000Apply Now
Upward9% – 32%Net Salary Rs. 21,000Apply Now
Payme India18% to 42%Net Salary 15,000Apply 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.

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