Features and benefits of personal loan
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Minimum documentation
Get through the personal loan application process easily by submitting just the basic documentation required.
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Speedy approvals
Fulfil all parameters of the eligibility criteria and documentation to enjoy near-instant loan approval.
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Same-day disbursal
Money is transferred to your bank account within 24 hours of loan approval.
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Pre-approved deals
To reduce loan processing significantly, check your pre-approved personal loan offer by entering basic contact information.
Enjoy flexible repayment with tenure that ranges up to 96 months.
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Flexible tenor options
Enjoy flexible repayment with a tenor that ranges up to 96 months.
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Flexi facility perks
Avail of the Flexi loan facility to reduce monthly outgo by up to 45%* by choosing to pay interest-only EMIs.
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No undisclosed fees
There are no hidden charges with this loan, and all fees are clearly mentioned on the loan document.
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Unsecured loan
Avail of the sanction easily without pledging assets as collateral.
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Digital loan tools
Whether you want to check your personal loan interest rate, access your loan statement, or manage loan EMIs, do it online with the loan account.
Accessing the funds you need is easy with a Bajaj Finserv Personal Loan. We offer loans to applicants who meet our simple eligibility criteria and can furnish the necessary documentation.
With a Rs. 8 lakh personal loan, you can fund any financial obligation, even emergencies, thanks to the swift loan processing feature. Accessing the funds you need is easy with a Bajaj Finserv Personal Loan. We offer loans to applicants who meet our simple eligibility criteria and can furnish the necessary documentation. You can get money in the bank within a few hours of loan approval, and there are no hidden charges applicable. To ensure a completely cost-effective repayment experience, use our personal loan EMI calculator to find the best loan terms for you.
Rs. 8 lakh personal loan EMI for up to 5 years
Check out the illustration below for Rs. 8 lakh loan EMI for 5 years. You can also use our personal loan EMI calculator to check different EMI options for a Rs. 8 lakh loan.
Tenure |
Approximate EMI (in Rs.) at 10% interest rate |
Rs. 8 lakh loan for 1 year |
70,333 |
Rs. 8 lakh loan for 2 years |
36,916 |
Rs. 8 lakh loan for 3 years |
25,814 |
Rs. 8 lakh loan for 4 years |
20,290 |
Rs. 8 lakh loan for 5 years |
16,998 |
Eligibility criteria for a Rs. 8 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 a Rs. 8 lakh personal loan
To apply for a Rs. 8 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
Personal loan interest rates for Rs. 8 lakh
Avail of an online personal loan of Rs. 8 lakh at competitive interest rates and flexible repayment periods. Know more about the interest rates and associate charges.
How to apply for a personal loan of Rs. 8 Lakh?
Follow these simple steps to apply for a personal loan online. Benefit from quick approval and hassle-free processing and meet your financial needs with ease.
- 1 Click on ‘APPLY’ and fill in the simple application form
- 2 Enter your phone number and submit the OTP sent to it for authentication
- 3 Fill in basic KYC, income, and employment details
- 4 Attach the required documents and submit the form
Our representative will contact you and assist with loan processing.
Also read
Frequently asked questions
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.
The maximum repayment tenure for a Bajaj Finserv Personal Loan is 96 months.
No, since personal loan is unsecured in nature, you do not need to any guarantor or collateral to get it.
Eligibility depends on factors like your income, credit score, employment stability, existing liabilities, and age. Lenders assess these to determine your repayment capacity and decide whether to approve the Rs. 8 lakh loan.
