40 Lakh Personal Loan

Rates typically start from 9.99% p.a., depending on credit profile, employment, and lender.

EMI depends on interest rate and tenure; for example, at 10% p.a. for 5 years, EMI is around ₹85,000.

Typically 1 to 5 years depending on the lender.

Generally ₹25,000 per month, though higher income is preferred for large loans.

Yes, with valid ITR and income proof.

A score of 750+ is preferred for best rates.

No, personal loans up to ₹40 lakh are usually unsecured.

With complete documents and online application, approval and disbursal can take 24–48 hours.

KYC (ID & address proof), income proof, and last 6 months’ bank statements.

Yes, prepayment is allowed; charges may apply up to 5% of outstanding amount.

Up to 4% of the loan amount.

Late EMI charges up to 24% p.a. apply, along with EMI bounce charges of ₹400.

Yes, most banks and NBFCs provide 100% digital application.

Some lenders offer NRI-specific personal loans; eligibility must be checked separately.

Maintain a high credit score, show steady employment, keep EMI-to-income ratio low, and submit accurate documents.

Typically ₹1 lakh per month or more for salaried applicants; self-employed applicants need a higher and stable income.

Approval is difficult with a low score; if granted, interest rates will be higher and terms stricter.

With complete documents, approval and disbursal can take 24–48 hours.

No, income proof is mandatory for high-value loans.

Rates vary; public sector banks or NBFCs with strong credit profile requirements generally offer competitive rates.