Personal loan of Rs. 10 lakh for 6 years

A personal loan for 6 years is a popular option for individuals who need quick access to a larger amount while keeping their monthly repayments manageable. When you opt for a Rs. 10 lakh personal loan EMI for 6 years, the longer tenure helps spread the cost into smaller, more affordable instalments. This makes it easier to plan your monthly budget without putting pressure on your finances.

Lenders assess your eligibility for a personal loan for 6 years based on your credit score, income stability, and employment history. A good credit profile can also help you secure a better Rs. 10 lakh personal loan EMI for 6 years, ensuring lower interest outflow over time. The loan amount can be used for various needs such as medical emergencies, higher education, home renovation, wedding expenses, or travel plans.

✅ Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

*Terms and conditions apply.
 

These features make this one of the best personal loans in India.

Bajaj Finance offers a high-value personal loan with minimal eligibility requirements and a flexible repayment tenure. You can get the funds you need with a simple online personal loan application process. If you are looking to apply for a Rs. 10 lakh personal loan for 6 years, follow these simple steps:

1. Click on ‘CHECK ELIGIBILITY’ on this page.
2. Enter your 10-digit mobile number and the OTP sent to your phone.
3. Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
4. Now, click on ‘PROCEED’ to visit the loan selection page.
5. Enter the offer or loan amount that you need. Choose from our personal loan variants.
6. Choose the repayment tenure and click on ‘PROCEED’.
7. Complete your KYC and submit your application.

Our representative will contact you for further steps.

• Nationality: Indian
• Age: 21 years to 80 years.
• Employed with: Public, private, or MNC.
• CIBIL Score: 650 or higher.
• Customer profile: Self-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.

It is important to keep the required documents handy to avoid any rejections. The personal loan document requirement might differ from lender to lender. Bajaj Finance Personal Loan comes with minimal documents. All you have to do is submit these documents.

• KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
• PAN card
• Employee ID card
• Salary slips of the last 3 months
• Bank account statements of the previous 3 months
• Piped gas bill
• Pension order
• Letter of Allotment of Accommodation Issued by Employer
• Property / Municipal tax receipt
• Utility bill
• Phone bill
• Real-time image / photograph
• Ration card

Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Calculating your EMI manually can be confusing, especially when interest and tenure are involved. To understand how much you will repay every month for a Rs. 10 lakh personal loan for 6 years, you can use the standard EMI formula:

EMI = P × R × (1 + R)ᴺ / [(1 + R)ᴺ – 1]

Where:

• P = Loan amount (Rs. 10,00,000)
• R = Monthly interest rate (Annual rate ÷ 12 ÷ 100)

• N = Total number of monthly instalments (6 years = 72 months)

  
  

For example, if the interest rate is 12% per annum, then:

• R = 12 ÷ 12 ÷ 100 = 0.01

• N = 72

  
  

Once these values are added to the formula, you get the final 10 lakh personal loan EMI for 6 years.

*Indicative values for reference purpose only.

Although manual calculation is useful for understanding the formula, the easiest and fastest option is to use an online personal loan EMI calculator. Simply enter the loan amount, interest rate, and tenure, and the tool will instantly show your exact monthly EMI, total interest, and overall repayment amount.

This allows you to compare options and choose a personal loan for 6 years that best fits your financial planning.

Interest rate for Rs. 10 lakh personal loan for 6 years

The personal loan interest rate for a Rs. 10 lakh loan depends on your credit profile and the lender’s terms. To know the exact Rs. 10 lakhs interest per month you’ll pay, review the detailed rates and charges. This information will help you plan your EMIs comfortably over a 6-year period.