Getting a Rs. 40 lakh loan can help meet various financial needs, from business expansion and home renovation to medical emergencies and investments. Many lenders in India offer secured loans against assets like shares, mutual funds, and insurance policies. These loans come with lower interest rates and flexible repayment options.
With the right eligibility, documentation, and financial planning, you can secure a loan quickly and affordably. This guide covers everything you need to know about Rs. 40 lakh loans, including types, eligibility, required documents, application process, benefits, and EMI calculations.
6 ways to get Rs. 40 lakh loans
The table below lists different types of Rs. 40 lakh loans, their interest rates, tenure, and application links:
Loan product | Interest rate | Loan tenure | Details and application link |
ESOP Financing | up to 15% p.a. | Up to 36 months | Learn more and apply for ESOP Financing |
Loan Against Bonds | Up to20% per annum | Up to 36 months | Learn more and apply for Loan Against Bonds |
Loan Against Insurance Policy | Up to 24% p.a.(In case of lock-in policies, compounding interest will be chargedIn case of lock-in free policies, simple interest will be charged) | Up to 96 months | Learn more and apply for Loan Against Insurance Policy |
Loan Against Mutual Funds | 8-15% per annum | Up to 36 months | Learn more and apply for Loan Against Mutual Funds |
Loan Against Shares | 8-15% per annum | Up to 36 months | Learn more and apply for Loan Against Shares |
Eligibility criteria for a Rs. 40 lakh loan
To qualify for a Rs. 40 lakh loan, applicants must meet specific eligibility criteria set by lenders. These typically include:
- Age: 18 to 65 years
- Income: Stable income source from salary, business, or investments
- Employment status: Salaried or self-employed professionals/business owners
- Asset ownership: Existing investments in bonds, shares, or insurance
Lenders may have additional criteria depending on the loan type and security offered. This is based on Bajaj Finance loan against securities.