Apply for ₹ 5 Lakh Personal Loan Online with Bajaj Finserv

A personal loan of Rs. 5 lakh might come in extremely handy during an emergency. Fortunately, many NBFCs, like Bajaj Finserv, provide personal loans online with reasonable interest rates and helpful features like speedy approval and rapid disbursal. Here's how you can apply now for an immediate personal online 5 lakh loan from Bajaj Finserv.

Eligibility for a Personal Loan of Rs. 5 Lakh

• When applying for a loan, the applicant's age should be 21, and when the loan matures, it should be 67.

• The necessary monthly income is Rs 22,000 minimum (For debtors on salaries).

• A personal loan of up to Rs 5 lakh is often more likely to be approved if your CIBIL score for a personal loan is 750 or above. 

• Either you must be an independent contractor or a paid professional hired by a reputable public or private firm.

It could also make obtaining personal loans with a cheaper EMI on a personal loan of 5 lakhs more accessible.

Documents Needed for a Personal Loan of 5 Lakhs Instantly

To prove that you are qualified for a loan of Rs. 5 lac, you will need the following documentation:

KYC Documents

Your identity verification papers include any government-issued photo identification card, such as a voter's ID card, passport, PAN card, driving license, or passport.

Address Proof 

Aadhar cards, driver's licenses, voter ID cards, passports, and other documents are all acceptable forms of address verification.

Income Evidence

 Form 16 (Income Tax Returns) and a bank statement for the previous six months showing your salary account serves to verify your income for the last two months.

Along with their financial documents, self-employed individuals can also provide their trade permits, GSR registration certificates, and income tax reports.

Photograph

When requesting a loan of 500000 rupees, applicants must enclose two current passport-size photos with their application.

How Do I Apply Online For a 5 Lakh Personal Loan?

By doing the actions listed below, you may apply with Bajaj Finserv for a personal loan of Rs. 5 lakh:

Step 1: First, go to the "Apply Now" portion of the personal loan page on the official Bajaj Finserv website and fill out the form on the next page with your basic information.

Step 2: Select the loan amount you want from the available options. Remember that your eligibility will determine the highest amount you may get ( you can check the interest rate calculator).

Step 3: You must submit the application form and necessary supporting documentation for verification.

Your loan amount will be deposited into your bank account when your loan application is accepted and all of your supporting documentation has been examined.

Conclusion

Many ask how much a personal loan can I get? Well, The finest NBFCs can provide a rapid personal loan if you require Rs. 5 lakh for any reason right away. Consider a personal loan from Bajaj Finserv if you want minimum paperwork and easy loan disbursements.