Personal Loan of Rs. 8 lakh

Personal Loan of Rs. 8 lakh

A personal loan of Rs. 8 lakh is available at interest rates starting from 16% p.a., with a tenure of up to 108 months and a minimum CIBIL Score of 650. Apply online using your phone number and OTP, without visiting a branch.
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Rs. 40,000 - Rs. 55 lakh

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Enter mobile and OTP | Check offer | No branch visit needed

 
 

Key takeways


A Rs. 8 lakh personal loan can help meet planned or urgent financial needs such as medical expenses, education, travel, or home repairs. It offers flexible repayment options, quick access to funds, and a simple online application process.


  • Minimal documentation and easy application
  • Flexible tenure from 12 months to 108 months
  • Interest rates starting from 10% p.a., based on the applicant’s profile
  • Quick approval and disbursal
  • No collateral or guarantor required
  • Transparent charges with no hidden fees

A Rs. 8 lakh personal loan can be a convenient option for managing planned or unexpected expenses with manageable EMIs.

Get Rs. 8 lakh personal loan instantly

You can use a Rs. 8 lakh personal loan to manage urgent and planned financial needs without using your savings. You can cover expenses such as medical bills, home repairs, education, travel, or other personal goals with quick access to funds through an easy online process. 


✅ You can check if you have a pre-approved loan offer with just your phone number and OTP – no need to visit the branch.


Once approved, you receive the loan amount quickly in your bank account, helping you handle urgent expenses with ease. You get minimal documentation, transparent charges, and flexible repayment options, making a Rs. 8 lakh personal loan a simple and convenient borrowing option.

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Why choose Rs. 8 lakh personal loan?

A Rs. 8 lakh personal loan helps you manage urgent and planned expenses with ease and flexibility. It offers quick access to funds without the need for collateral, making it suitable for various financial needs.


Key reasons to choose it:


  • Quick online application with simple steps
  • Minimal documentation required
  • Flexible repayment tenure options
  • Fast approval and disbursal process
  • No collateral or guarantor needed

A Rs. 8 lakh personal loan provides a convenient way to handle financial needs while keeping repayment manageable through structured EMIs.

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Features and benefits of Rs. 8 lakh personal loan online

Minimal documentation

Get through the personal loan application process easily by submitting just the basic documentation required.


Flexi loans

Make multiple withdrawals from a dropline limit and pay interest only on the withdrawn funds, with our Flexi loans.


Convenient repayment tenures

Manage your loan easily with flexible repayment options ranging from 12 months to 108 months, allowing you to choose EMIs that fit your income cycle and budget.


Approval in just 5 minutes*

Complete your entire personal loan application online from the comfort of your home or office and get an instant personal loan with lightning-fast approval.


Money in account within 24 hours*

Your bank account will be credited with your loan amount within 24 hours* of approval, or in some cases, on the same day—ideal for urgent business or personal needs.


Pre-approved offers

You can check if you have a pre-approved offer for a personal loan with just your phone number and OTP – no need to visit the branch.


Complete transparency - no hidden charges

Our fees and charges are mentioned clearly on this page and in all loan documents. We maintain complete transparency, allowing you to make informed financial decisions.


No guarantor or collateral needed

You don't need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor—completely unsecured financing.


Accessing the funds you need is easy with a Bajaj Finance Personal Loan. We offer loans to applicants who meet our simple eligibility criteria and can furnish the necessary documentation.

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Rs. 8 lakh personal loan EMI for up to 5 years

A Rs. 8 lakh personal loan EMI depends on the selected tenure and interest rate. A shorter tenure generally means a higher EMI, while a longer tenure can reduce the monthly repayment. Use the Personal Loan EMI Calculator to estimate your EMI and plan repayments based on your budget.

Loan AmountInterest Rate (p.a.)TenureApprox EMI
Rs. 8 lakh Personal Loan10%12 months (1 year)Rs. 70,333
Rs. 8 lakh Personal Loan10%24 months (2 years)Rs. 36,916
Rs. 8 lakh Personal Loan10%36 months (3 years)Rs. 25,814
Rs. 8 lakh Personal Loan10%48 months (4 years)Rs. 20,290
Rs. 8 lakh Personal Loan10%60 months (5 years)Rs. 16,998

These figures are indicative and may vary based on the applicable interest rate and other loan terms.

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Eligibility criteria for a Rs. 8 lakh personal loan

You can easily get the funds you need with the below criteria:

  • Eligibility criteria

    NationalityIndian
    Age21 years to 80 years
    Employed withPublic, private, or MNC.
    CIBIL Score650 or higher.
    Customer profileSelf-employed or Salaried

*You should be80 years or younger, at the end of the loan tenure.


Meeting the eligibility criteria can help you assess your suitability for a Rs. 8 lakh personal loan. Use the personal loan eligibility calculator to check the loan amount you may be eligible for based on the required details.

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Documents required for Rs. 8 lakh personal loan

A Rs. 8 lakh personal loan requires basic documents to complete the application process smoothly. These documents help verify identity, income, and address details for quick approval and faster processing. Keeping documents ready can help reduce delays and improve application speed.

Documentation requirements for a Bajaj Finance Personal Loan are minimal. Five document categories are required at the time of application:


Document CategoryAccepted Options
KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
Identity proofPAN card, Real-time image / photograph
Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
Income proofSalary slips — last 3 months, Bank account statements — last 3 months
OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt


 

Know more about the personal loan documents required during application.

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Personal loan interest rates for Rs. 8 lakh

The interest rate on an online loan app in India varies depending on factors such as your credit profile, income, loan amount, and repayment tenure. Along with the interest rate, borrowers should also review the applicable fees and charges before applying. The table below highlights some of the common charges associated with a personal loan. For the complete schedule of charges, please refer to the existing personal loan interest rates, fees and charges page.

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How to use EMI calculator for Rs. 8 lakh personal loan?

An EMI calculator helps estimate monthly repayments for a Rs. 8 lakh personal loan before applying. It gives a clear idea of total interest and repayment burden based on loan tenure and interest rate.


  • Enter the loan amount, such as Rs. 8 lakh
  • Select the expected personal loan interest rate
  • Choose the repayment tenure in months
  • View the monthly EMI and total repayment amount instantly

This tool helps compare different repayment options and plan a Rs. 8 lakh personal loan more effectively before final application.

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How to apply for a personal loan of Rs. 8 Lakh?

  1. Check loan eligibility – Visit our personal loan page, enter the loan amount you need, select the repayment period, and click on "CHECK LOAN OFFER" to check your loan eligibility.
  2. Enter personal details – Provide your personal, financial, and employment details to receive a personalised loan offer.
  3. Review your loan offer – Check your offer details and adjust the loan amount or repayment tenure, if required.
  4. Complete KYC verification – Verify your identity and bank details to proceed with your application.
  5. Speak to a loan specialist – Once your application is submitted, an executive will contact you with the next steps.
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Personal loans of different amounts

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9 Lakh Personal Loan10 Lakh Personal Loan12 Lakh Personal Loan
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30 Lakh Personal Loan35 Lakh Personal Loan40 Lakh Personal Loan
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Loan by requirement

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Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

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Frequently asked questions

Overview

Application

Eligibility

Charges

How to get a personal loan of Rs. 8 lakh?

Here is how you can get a personal loan of Rs. 8 lakh:.


  • Fill up the loan application form carefully by providing your personal, financial, and employment details
  • Select the repayment tenure and loan amount
  • Submit all the necessary documents to the representatives
  • Once approved, your loan amount will be credited into your account in 24 hours*

The EMI amount will depend on the interest rate and repayment tenure. For example, you borrow Rs. 8 lakh at the interest rate of 15% for a repayment tenure of four years. You will need to pay Rs. 22,265 as EMI. To calculate your monthly instalments in a hassle-free process, use our online personal loan EMI calculator and get results in minutes.

The interest amount depends on the rate of interest levied by the lender. For example, in the case of Rs. 8 lakh personal loan, with an interest rate of 10% p.a., for a tenure of 5 years, the interest amount comes down to approximately Rs. 2,19,858.

The salary requirement for a Rs. 8 lakh loan will differ from lender to lender. The personal loan approval depends on other factors as well, such as your credit history, CIBIL Score, and so on.

To use an EMI calculator, input Rs. 8 lakh as the loan amount, choose the desired tenure and interest rate, and the tool will instantly calculate your EMI, total interest, and repayment amount.

The EMI for your Rs. 8 lakh personal loan depends on the tenure and interest rate. 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.

Yes, you can apply for an Rs. 8 lakh personal loan through a fully digital process. Simply complete the online application, upload required documents, and track approval status online.

Choosing lower EMIs ensures affordable monthly payments, while a shorter repayment period helps reduce total interest costs. Opt based on your financial capacity and goals.

You can track your Rs. 8 lakh personal loan status via the lender's online portal or mobile app, using your registered account credentials for real-time updates.

A 3-year tenure can reduce total interest, while a 5-year tenure offers lower EMIs. The better choice depends on the borrower’s repayment capacity and budget.

Yes, an Rs. 8 lakh personal loan can be applied for jointly with a co-applicant. This may improve eligibility and increase approval chances. Both applicants must provide documents and meet lender criteria. Approval depends on combined income, credit profile, and overall repayment capacity.

The EMI for a Rs. 8 lakh personal loan at 10% p.a. is approximately Rs. 70,333 for a 12-month tenure. The EMI will vary based on the selected repayment tenure. A longer tenure generally results in a lower monthly EMI, while a shorter tenure may increase the monthly repayment.

A minimum CIBIL Score of 650 is generally required for a Rs. 8 lakh personal loan. However, eligibility may also depend on factors such as income, employment, existing financial obligations, repayment history, and other applicable criteria.

The maximum tenure for a Rs. 8 lakh personal loan is 108 months. Choosing a longer tenure can help reduce the monthly EMI, while a shorter tenure can help repay the loan sooner. The available tenure may depend on the applicant's eligibility and applicable loan terms.

A Rs. 8 lakh personal loan can be disbursed within 24 hours* after approval and completion of the required verification and documentation. The actual disbursal time may vary based on the application, eligibility, and successful completion of the applicable process.

You can foreclose your Rs. 8 lakh personal loan early, subject to the applicable terms and foreclosure charges. Before choosing foreclosure, check the outstanding principal, applicable charges, and other loan conditions to understand the total amount payable.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000