Get a Super-fast ₹5 Lakh Personal Loan Online!

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Why Choose a ₹5 Lakh Personal Loan

If you’re looking for instant access to funds, a ₹5 Lakh loan can help you fulfil any of your financial needs. On Zype, you can activate a credit line in less than 8 minutes just by submitting your basic details along with your PAN & Aadhaar number!

Whether you want a loan to fund your home renovation, last-minute wedding expenses or are even planning to take up an online course, a personal loan up to ₹5 lakh has got you covered.

₹5 Lakh Loan EMIs for 3-12 Months Tenure

Understanding your EMIs can help you plan your budget better and also prepare you for any unseen future expenses.

Zype offers repayment options of 3, 6, 9 or 12 EMIs that are flexible & convenient to pay so that you don’t have to worry about your finances.

This is what your EMIs on a personal loan of ₹5 lakh @ 18% annual interest rate will look like when you take a loan from Zype.

Loan Amount Interest Rate Tenure (in months) EMI in Rs
Rs 500000
18%
3
Rs 171691.48
6
Rs 87762.61
9
Rs 59804.91
12
Rs 45840

*Note – All the above numbers are for representation only. The final interest rate may vary depending on the profile assessment.

Features and Benefits of a ₹5 Lakh Loan

A personal loan up to ₹5 Lakh can fulfil your immediate financial needs & Zype credit line makes an even more hassle-free experience for you.

Instant Approval

On Zype, you can complete your credit line application in less than 8 minutes and get approved within 60 seconds!
Instant Approval

Collateral free loan

Zype offers unsecured personal loans where you can get instant access to money without pledging your assets.

Flexible repayment options

Flexible Repayment Options

Take a ₹5 lakh personal loan now & enjoy the flexibility of repaying it in 3, 6, 9 or 12 EMIs, as per your convenience.

Competitive interest rate

Affordable Interest Rates

Zype offers an affordable interest rate on your personal loans that starts at just 1.5% per month.

No documentation or paperwork

Flexible Loan Amount

You can transfer multiple loans from your approved line directly to your account in a few taps. Get instant cash whenever you need it & pay interest only on the amount you borrow.

Collateral free loans

How to calculate your EMI on personal loans of ₹5 lakhs?

Calculating EMIs on your personal loans can help you create a budget, compare offers across various lenders and even prepare you for any future expenses:

Here is the formula you can use to calculate EMI on a personal loan for a ₹5 lakh loan:

E = P x R x (1+R)^N / [(1+R)^N-1], where

E is your personal loan EMI amount

P is the amount you are borrowing from the loan provider

R is the monthly interest rate

N is the no. of months of EMI payment

You can either use this formula or Zype’s user-friendly ₹5 lakh loan EMI calculator below!

₹5 Lakh Loan EMI Calculator

Loan Amount (in rupee)

10,000

5,00,000

Interest Rate (in %)

1

34

Loan Term (in months)

1

72

Total Interest Payable

Total Payment
(Principle + Interest)

Your EMI is

Eligibility Criteria for ₹ 5 Lakh Personal Loan

Complete your application for a personal loan up to ₹ 5 Lakh on Zype by meeting the basic eligibility criteria:

Age
Age

18 years or above

Citizenship
Citizenship

Indian with a valid PAN & Aadhaar card.

Work experience
Work experience

Salaried individual

15000 Salary
Monthly Salary

Monthly income of at least ₹15,000

Documents Required For ₹5 Lakh Personal Loan

Complete a loan application that is quick and requires document is 0 to uploads & paperwork! You will only need these to apply for a personal loan on Zype-

Mandatory documents
Proof of photo identity

You will need to complete a real-time selfie verification to complete a KYC on Zype after you’re approved for a personal loan.

Proof of photo identity
Mandatory documents
You will need to enter your PAN & Aadhaar number along with a few basic details to get a loan offer & to complete your KYC to activate your credit line. (Physical documents not required)
Proof of Income
Proof of Income (Optional)

You can also apply for a higher credit limit by uploading your bank statement for the last 4 months.

Interest Rates on a ₹5 Lakh Personal Loan

Fees & Charges Amount Chargeable
Interest Rate
Starting at as low as 1.5% (monthly)
Loan Processing Charges
Processing fees from 2% to 6% on every loan
Interest on Overdue EMIs
Penal interest & late fees will be charged to your total outstanding loan on daily basis

How to Apply for a ₹5 Lakh Personal Loan?

Complete a quick & easy application on the Zype app using the following steps which won’t take more than 8 minutes.

1) Download Zype from PlayStore/AppStore & complete your sign-up.

2) Add basic details like your name, mobile number & PAN number.

3) Get approved for a credit line based on your credit profile.

4) Complete a quick 3-step KYC with Aadhaar number & selfie verification to unlock your credit line.

5) Select your desired loan amount & EMI option.

6) Transfer the cash directly to your account in a single tap.

Frequently Asked Questions

I Need 5 Lakhs Urgently, How to Get It?

You can easily get a personal Loan up to ₹5 Lakh on Zype very quickly! Complete your application in less than 8 minutes, get an approved offer within 60 seconds & get the money in your account on the same day.

Can I Get an Instant Personal Loan of 5 Lakhs Without a Cibil Score?

Yes, you can! Zype offers personal loans even to those customers who don’t have a credit history. You only need to be a salaried individual with a minimum monthly salary of ₹15000 to be eligible for a Zype personal loan.

Can I Avail 5 Lakh Loan Without Documents?

You can get approved for a ₹5 Lakh loan on Zype just by adding your basic details, PAN & Aadhaar number.

I need 5 lakhs urgently, how to get it?

You can easily get a personal Loan up to ₹5 Lakh on Zype very quickly! Complete your application in less than 8 minutes, get an approved offer within 60 seconds & get the money in your account on the same day.

Can I get an instant personal loan of 5 lakhs without a Cibil Score?

Yes, you can! Zype offers personal loans even to those customers who don’t have a credit history. You only need to be a salaried individual with a minimum monthly salary of ₹15000 to be eligible for a Zype personal loan.

Can I avail 5 lakh loan without documents?

You can get approved for a ₹5 Lakh loan on Zype just by adding your basic details, PAN & Aadhaar number.

What Are the Factors That Can Affect ₹5 Lakh Personal Loan EMI?

The factors that affect your personal loan are your approved loan amount, interest rate on the personal loan & the repayment plan you choose.

How to Get a 5-Lakh Loan Without Income Proof?

There are many loan apps that offer personal loans without any income proof. Zype is such an app that offers instant loans just by adding your basic details, PAN & Aadhaar number.

Can I Get the Lowest Interest Rate on a ₹ 5 Lakh Personal Loan?

Your interest rate depends on many factors like your credit score & repayment history. If you have a good credit profile, you can get a low-interest rate on your loan. Zype offers loans that start just at 1.5% interest (monthly)