Features and benefits of a Rs. 7 Lakh personal loan
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Lightning-fast approval
Get approval on an instant personal loan of Rs. 55 lakh in just 5 minutes by meeting all the eligibility and documentation requirements.
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Disbursal within 24 hours*
With this personal loan, you can get full disbursal of the loan, to your bank account within 24 hours* of approval.
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Repay comfortably
Make planning finances easier, with a flexible repayment tenor of up to 96 months.
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Flexi facilities
The Flexi loan service allows you to pay interest-only EMIs and reduce your monthly outgo by up to 45%*.
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Basic documents only
Apply for the loan by submitting basic documents like KYC, address proof, and income proof.
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Personalised offers
Enjoy a hassle-free borrowing experience with our personal loans. All you have to do is check your pre-approved offer online.
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Loan management
This low-income personal loan comes with an online loan account to help you manage it digitally for maximum convenience.
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Collateral-free funds
Qualify for the sanction without needing to pledge your assets as security.
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No extra charges
All loan terms are clearly listed, right from the applicable personal loan interest rates to the fees. No hidden charges.
Meet all your financial requirements with a Bajaj Finserv Personal Loan. Our loans are a reliable way to get easy access to funds within 24 hours *. To qualify, you only need to meet simple criteria and submit minimal paperwork. A personal loan from Bajaj Finserv is a great solution for your financial needs.
On meeting all the loan requirements, apply online to ensure maximum convenience with your borrowing experience. Benefit from swift loan processing protocols and ensure access to funding, even in emergencies. To plan your loan effectively and optimally, use the personal loan EMI calculator.
Understand your EMI for a Rs. 7 Lakh personal loan
Before applying for a loan, it’s essential to estimate your monthly installments. The Rs. 7 lakh personal loan EMI depends on the tenure and interest rate. Using a personal loan EMI calculator helps you plan repayments efficiently. Below is an EMI breakdown for a Rs. 7 lakh loan at a 16% interest rate.
Tenor |
approximate EMI at 16% interest rate |
1 year |
Rs. 61,396 |
2 years |
Rs. 32,253 |
3 years |
Rs. 22,579 |
4 years |
Rs. 17,729 |
5 years |
Rs. 14,872 |
Calculate your Rs. 7 lakh loan EMI for 5 years to choose a suitable repayment plan.
Eligibility criteria for Rs. 7 lakh personal loan
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Indian
Nationality
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Age
21 years to 80 years*
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CIBIL score
685 or higher
*Higher age limit is applicable at the time of loan maturity
To check your eligibility with ease, use our online Personal Loan eligibility calculator.
Documents required for availing Rs. 7 lakh personal loan
To apply for a Rs. 7 lakh personal loan, you'll need to submit a few essential 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
- Real-time image / photograph
- Ration card
Know more about the personal loan documents requirement. Having these documents ready ensures a smooth application process and faster approval.
Interest and charges for Personal loan of Rs. 7 lakh
Avail of an online personal loan at attractive interest rates and flexible repayment periods. Know more about the personal loan interest rates.
How to apply for a personal loan of Rs. 7 lakh?
To get a Rs. 7 lakh loan, follow a simple online process. Apply for a personal loan online by filling out the application form, submitting required documents, and getting quick approval. Enjoy a hassle-free experience with minimal paperwork and instant fund disbursal.
- 1 Click 'Apply Online'
- 2 Enter your mobile number and authenticate your profile with an OTP
- 3 Provide personal, financial and employment details
- 4 Pick a loan amount and an affordable repayment tenor
- 5 Upload the required documents and submit the form
Our agent will contact you with further loan processing instructions.
Also read
Frequently asked questions
Take a look through the following steps to complete the application process for a personal loan of Rs. 7 lakh:
- Fill up the online loan application form with all the necessary personal and financial data
- Select the suitable loan amount and repayment tenor
- Provide the required supporting documents
- Once approved, the loan amount will be credited directly to your bank account
The EMI of your personal loan will vary based on the tenor and interest rate. Enter the loan amount, interest rate and the repayment tenor in the Bajaj Finserv Personal Loan EMI Calculator to find your monthly estimates. For instance, if you borrow a loan of Rs. 7 lakh on an annual interest of 14% for a tenor of two years, the EMI amount will be Rs. 33,609.
You can calculate your personal loan EMI by using an EMI calculator. Input the loan amount, interest rate, and tenure into the tool, and it will instantly display your monthly instalment along with the interest breakdown.
Benefits include quick approval, flexible tenure, competitive interest rates, minimal documentation, and no collateral requirement, making it ideal for urgent financial needs.
Yes, many lenders allow part-payments, helping you reduce your outstanding principal and interest burden, subject to their terms and conditions.
Some lenders charge a prepayment fee, typically ranging from 2% to 5% of the outstanding amount. Check your loan agreement for exact charges.
The repayment tenure usually ranges from 12 months to 96 months, allowing borrowers to choose a flexible repayment plan based on their financial capacity.
If you meet all the eligibility criteria and submit the required documents, you can get instant approval on your application for a personal loan of Rs. 7 lakh.
Yes, since personal loan is unsecured in nature, you do not need to pledge any collateral to get it.
You need a CIBIL Score of 685 or higher to apply for a Bajaj Finserv Personal Loan
The minimum salary requirement varies depending on the lender and your overall loan eligibility.
