Personal Loan of Rs. 12 lakh for 5 years

Looking for a personal loan of Rs 12 lakh for 5 years? Check your eligibility, required documents, flexible loan options, interest rates, and hassle-free application process.
Personal Loan
3 min

A personal loan is a financial tool that offers individuals a lump sum for various needs like travel, medical bills, and so on. Unlike some loans, you usually don't need to put up any guarantee (like your car or property) to get approved. The interest rate you will pay depends on your credit history and how long you take to repay the loan. This makes personal loans a flexible option for managing a variety of financial situations. If you need quick funds in a hassle-free process, look no further than the personal loan offered by Bajaj Finance Limited.

Eligibility criteria for a Rs. 12 lakh personal loan

To get a Bajaj Finance Personal Loan, you need to meet the simple eligibility criteria mentioned below.

  • Nationality: Indian 
  • Age: 21 years to 80 years*. 
  • Employed with: Public, private, or MNC. 
  • CIBIL score: 685 or higher. 
  • Monthly salary: Starting Rs. 25,001, based on the city you live in.

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

Documents required for Rs. 12 lakh personal loan for 5 years

For a Bajaj Finance Personal Loan, below are the documents you may be asked to submit:

  • 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
  • Utility bill of electricity and piped gas

How to calculate the EMI for a personal loan of Rs. 12 lakh for 5 years?

To calculate the EMI for a Rs. 12 lakh personal loan over 5 years, you can use a personal loan EMI calculator. Input the loan amount, interest rate, and tenure into the calculator. For instance, with a nominal interest rate of 12%, the EMI for a Rs. 12 lakh loan over 5 years would be approximately Rs. 26,693. Using an online EMI calculator simplifies the process, providing instant and accurate EMI figures, helping you plan your finances effectively.

Read the interest rates and charges carefully before proceeding with your loan application.

Why choose Bajaj Finance for a Rs. 12 lakh personal loan for 5 years?

Here are the features that make Bajaj Finance Personal Loan a great choice to manage your expenses:

No collateral required 

You do not need to provide any collateral such as property or gold to get our personal loan.

Quick approval 

Get your loan application approved in just 5 minutes.

Disbursal in 24 hours* 

Get the funds you need in your bank account within as little as 24 hours*.

Flexible tenures

Manage your repayment easily with tenure ranging from 6 months to 96 months. 

With Bajaj Finance Limited, you can access funds quickly, ensuring financial convenience and a smooth borrowing experience tailored to your needs.

Apply for our Personal Loan

*Terms and conditions apply.


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*Terms and conditions apply

Frequently asked questions

What is the EMI for a Rs. 12 lakh loan for 5 years?
With an interest rate of 12%, the EMI for a Rs. 12 lakh loan over 5 years would be approximately Rs. 26,693.
How is EMI calculated for a Rs. 12 lakh loan over 5 years?
A Personal Loan EMI calculator uses an EMI calculation formula to calculate your monthly instalments.

The formula used is:

E = P*r*(1+r)^n/((1+r)^n-1) where,

E is EMI

P is the principal loan amount,

r is the rate of interest calculated monthly, and

n is the tenure/ duration in months

If you consider an interest rate of 12%, the EMI for a Rs. 12 lakh loan over 5 years would be approximately Rs. 26,693.

What is the minimum salary required for a Rs. 12 lakh personal loan?
You need a monthly salary of Rs. 25,001 or more to apply for a personal loan from Bajaj Finance.
How to apply for a Rs. 12 lakh personal loan for 5 years?

You can apply for a Bajaj Finance Personal Loan by following these simple steps:

  • Click on the ‘APPLY’ button on this page.
  • Enter your 10-digit mobile number and OTP.
  • Fill in the application form with your basic details.
  • Now, click on ‘PROCEED’ to visit the loan selection page.
  • Enter the loan amount that you need. Choose from our three personal loan variants –Term, Flexi Term, and Flexi Hybrid.
  • Choose the repayment tenure and click on ‘PROCEED’.
  • Complete your KYC and submit your application.

Our representative will guide you on the next steps.

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