Personal Loan of Rs. 8 lakh for 7 years

Looking for a personal loan of Rs 8 lakh for 7 years? Check your eligibility, required documents, flexible loan options, interest rates, and hassle-free application process.
Personal Loan
3 min

With a personal loan, you get a one-time sum of money to cover various needs, from travel to medical bills. Unlike secured loans, collateral (like your car) typically isn't required. The interest rate depends on your credit history and the repayment tenure. This flexibility makes personal loans a convenient tool for managing different financial situations. If you need a Rs. 8 lakh personal loan for a tenure of 7 years, look no further than the personal loan offered by Bajaj Finance Limited. Quick approval and fast disbursal make it an ideal option when you need to manage your expenses.

Eligibility criteria for a Rs. 8 lakh personal loan

To get a Bajaj Finance Personal Loan, you need to meet the 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. 

Read in detail the eligibility criteria and documents required for our personal loan.

Documents required for Rs. 8 lakh personal loan for 7 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. 8 lakh for 7 years?

To calculate the EMI for a Rs. 8 lakh personal loan over 7 years, you can use a personal loan EMI calculator. Input the loan amount, interest rate, and tenure into the calculator. For instance, with an interest rate of 12%, the EMI for a Rs. 8 lakh loan over 7 years would be approximately Rs. 14,122. Using an online EMI calculator simplifies the process and gives you instant EMI values.

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

Why choose Bajaj Finance for a Rs. 8 lakh personal loan for 7 years?

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

Instant approval: You can get the loan application approved in just 5 minutes.

Quick disbursal: You get the funds in your bank account within as little as 24 hours*.

Flexible repayment period: Repay the loan easily over a tenure ranging from 6 months to 96 months.

In conclusion, with a Bajaj Finance Personal Loan, you can get the funds you need within 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. 8 lakh loan for 7 years?
With an interest rate of 12%, the EMI for a Rs. 8 lakh loan over 7 years would be approximately Rs. 14,122.
How is EMI calculated for a Rs. 8 lakh loan over 7 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. 8 lakh loan over 7 years would be approximately Rs. 14,122.

What is the minimum salary required for a Rs. 8 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. 8 lakh personal loan for 7 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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