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 for 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 personal loan interest rate and other 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 12 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.
*Terms and conditions apply.