Principal Amount
₹
- 3000
- 5L
Total Interest Payable
- 6
- 38
Loan Term (in months)
- 3
- 72
Your Monthly EMI Is
₹ 0.00
Total Interest
₹ 0.00
Total Amount Payable
₹ 0.00
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A ₹5 lakh personal loan is a hassle-free way to tackle big expenses such as medical treatments, home makeovers, weddings, or even a last-minute education bill. Apply online in minutes, upload your basic KYC and income proof, and the lender disburses the money straight to your bank account, giving you fast, flexible funding when life throws a costly surprise.
Zype makes it simple. Apply online in under 6 minutes. No paperwork or collateral is needed. Whether it’s a medical need, wedding, or home repair, you’ll get instant approval and fast disbursal. Interest rates start at just 1.5% per month with flexible repayment tenures of 6, 9, 12 or 18 months. Apply now and get started today!
The process is fully online and takes less than 6 minutes, with instant approval to ensure you don’t wait long for your funds. Once approved, enjoy quick disbursal directly into your account.
If you need quick funds for home upgrades, wedding costs, or an upskilling course, a ₹5 lakh personal loan on Zype has you covered. Here’s why it works so well:
Activate your loan in under six minutes and tackle any big expense with ease.
A personal loan up to ₹5 Lakh can fulfil your immediate financial needs & Zype instant loan makes an even more hassle-free experience for you.
On Zype, you can complete your loan application in less than 6 minutes and get approved within 60 seconds!
Zype offers unsecured personal loans where you can get instant access to money without pledging your assets.
Take a ₹5 lakh personal loan now & enjoy the flexibility of repaying it in 6, 9, 12 or 18 EMIs, as per your convenience.
Zype offers an affordable interest rate on your personal loans that starts at just 1.5% per month.
You can transfer multiple loans from your approved loan limit directly to your account in a few taps. Get instant cash loan whenever you need it.
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
Understanding your EMIs can help you plan your budget better and also prepare you for any unseen future expenses.
Zype offers repayment options of 6, 9, 12 or 18 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 5 lakh personal loan @ 18% annual interest rate will look like when you take a loan from Zype.
| Loan Amount (₹) | Interest Rate (%) | Tenure (in months) | EMI (₹) |
|---|---|---|---|
| 500,000 | 18 | 6 | 87,762.61 |
| 500,000 | 18 | 9 | 59,804.91 |
| 500,000 | 18 | 12 | 45,840.00 |
| 500,000 | 18 | 18 | 31,902.89 |
Note: The above table is just for illustration purposes. The actual number may differ.
Interest rates on a ₹5 lakh personal loan depend on your credit score, monthly income, chosen tenure, and the lender’s risk assessment. Zype keeps things clear with transparent rates starting at 1.5% per month and zero hidden charges. Compare offers, check how each rate affects your EMI, and pick the option that keeps both your budget and long-term costs in check.
| 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 |
| Penalty on Overdue EMIs | Late payment penalty charges & overdue interest will be charged to your total outstanding loan on a daily basis |
Complete your application for a personal loan upto ₹ 5 Lakh on Zype by meeting the basic eligibility criteria.
21 years or above
Indian with a valid PAN & Aadhaar card.
Salaried individual
Monthly income of at least ₹15,000
Complete a loan application that is quick and requires zero document upload & paperwork! You will only need these to apply for a personal loan on Zype
You will need to complete a real-time selfie verification to complete a KYC on Zype after you’re approved for a personal loan.
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 loan limit. (Physical documents not required)
You can also apply for a higher loan limit by uploading your bank statement for the last 4 months.
Need ₹5 lakh fast? Just follow the easy steps below to apply through Zype’s fully digital platform. Upload your PAN, Aadhaar, and income proof, e-sign the agreement, and receive an instant approval decision without any paperwork.
1) Download Zype from PlayStore/AppStore & complete your sign-up.
To get ₹5 lakh urgently, you can apply on Zype. Complete application and e-KYC. Get loan approval and disbursal in a few minutes.
Yes. Many fintechs use bank statements, employment details instead of credit scores, but they’ll charge higher rates and offer shorter tenures.
Yes. You can avail a ₹5 lakh loan without documents on Zype. You must provide basic KYC (PAN, Aadhaar) and recent income proof.
EMI for a ₹5 lakh personal loan depends on the interest rate and tenure. for example, at 1.5 % a month over 12 months, the EMI is about ₹47,250. Use Zype EMI calculator for an estimate.
If you default on your ₹5 lakh loan, you are required to pay late fees. Your credit score drops, and the lender may start recovery action. Ensure to pay EMIs on time.
Zype offers ₹5 lakh personal loan at 6, 9, 12 or 18-month tenure. A bank may offer loans up to five years.
Yes. PAN, Aadhaar, and recent salary slips or bank statements are required. One also needs to do a selfie verification to complete the KYC.
Your EMI depends on the interest rate, the repayment time (tenure), and any fees added to the loan amount. A longer tenure lowers the monthly EMI but makes you pay more interest overall.
You may consider a secure loan and pledge an asset like gold, fixed deposits, or other assets. Most lenders can give you a secured loan up to ₹5 lakh without requiring salary slips or income statements.
Maintain a 750+ score, show stable income, opt for a shorter tenure, and compare multiple offers to negotiate down the rate and processing fee.
With Zype, you get loan approval in under 60 seconds if you fulfil all the eligibility criteria and the funds get deposited in your account instantly as well. Traditional banks typically take one to three business days.
Banks prefer scores above 700, but many NBFCs and apps approve at 650 or even with less score.
Zype lets you prepay anytime at zero charge. Many lenders may levy 2% – 4 % of the outstanding amount, so read the terms carefully.
Zype discloses every cost upfront, including GST on the processing fee. When taking any loan, always review the sanction letter check for any added charges like insurance, processing fee etc.
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