₹4 Lakh Personal Loan: EMI, Interest Rates & Eligibility

A ₹4 lakh personal loan allows individuals access to funds without providing any collateral. The loan approval is mainly based on income, credit score, and repayment capacity. This type of loan is mostly used to meet personal financial requirements. These can include repaying high-interest debt, covering medical expenses, managing education costs, or handling unexpected situations.

A personal loan of 4 lakhs is considered a sizeable amount. It helps address financial needs without disturbing savings or long-term financial plans. The funds are credited directly to the borrowers’ accounts, giving immediate access.

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4 Lakh Personal Loan EMI Calculator

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  • 50 K
  • 1 Cr
Years
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Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹4,00,000

Interest Payable

Total Amount Payable

Written By
Abigail Simmons
Abigail Simmons
Driven by a curiosity for how everyday decisions shape our financial journeys, Abigail turns complex money matters into clear, engaging stories. She helps readers understand financial trends, whether it’s credit, loans, or smart money habits. When she is not decoding RBI updates or tracking industry shifts, she’ll be comparing savings hacks or just taking a long walk.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Last Updated: 17 February 2026

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What is a ₹4 Lakh Personal Loan?

A ₹4 lakh personal loan is an unsecured loan. The amount can be used for any personal requirement, and the lender does not place restrictions on how the money is spent. Repayment is done through fixed monthly EMIs. Interest rates differ across lenders, and borrowers can choose a tenure accordingly. This allows the EMI to be adjusted based on monthly income and existing expenses.

The application process is usually online and does not involve heavy paperwork. For eligible applicants, approval and disbursal are relatively quick. This makes the personal loan suitable when funds are needed without delay.

When can I get a Personal Loan of ₹4 Lakh?

A ₹4 lakh personal loan is used to meet a wide range of personal financial needs.

Some of these include:

  • To manage unexpected expenses when savings fall short
  • For debt consolidation of high-interest credit cards or small loans
  • To simplify repayments into one monthly EMI
  • For home renovation or repairs
  • To cover education or skill-upgrade costs
  • For wedding or travel expenses
  • When funds are needed without selling long-term investments

What are the Interest Rate and Fees on a ₹4 Lakh Personal Loan?

The interest rate on a ₹4 lakh personal loan generally ranges between 9.99% and 31%, depending on the lender and the borrower’s profile. Processing fees for loans up to ₹4 lakhs generally range between 0.5% and 4% of the loan amount. Public sector banks usually charge lower fees. Some lenders also waive processing fees during promotional periods.

Below are the interest rates, tenure, processing fees and disbursal time for some banks in India. You can also use a Personal loan EMI calculator to assess your monthly expenses in advance.

Bank / Lender Interest Rate (PA) Loan Tenure Processing Fee Disbursal Time
SBI 10.05% – 15.05% Up to 6 years Up to 1.5% 1-3 Working Days
HDFC Bank 10.9% – 24% Up to 5 years Up to 2.5% Same Day / 24 Hrs
ICICI Bank 10.45% – 16.5% Up to 5 years Up to 2% Within 24 Hours
Axis Bank 9.5% – 21.55% Up to 7 years Up to 2% 24-48 Hours
Kotak Mahindra Bank 10.99% Up to 6 years Up to 5% Same Day
Bajaj Finserv 10% – 31% Up to 8 years Up to 3.93% Instant / Same Day

*Rates vary based on credit score, income stability, and existing liabilities.

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What is the ₹4 Lakh Personal Loan EMI for 1 Years?

The EMI for a ₹4 lakh personal loan taken for 1 year at an interest rate of 11% per annum is listed below:

Loan Amount Interest Rate Tenure Monthly EMI Total Amount Payable Total Interest
₹4,00,000 11% p.a. 1 Years ₹35,353 ₹4,24,232 ₹24,232

What is the ₹4 Lakh Personal Loan EMI for 2 Years?

The EMI for a ₹4 lakh personal loan over 2 year at an 11% annual interest rate is shown in the table below:

Loan Amount Interest Rate Tenure Monthly EMI Total Amount Payable Total Interest
₹4,00,000 11% p.a. 2 Years ₹18,643 ₹4,47,435 ₹47,435

What is the ₹4 Lakh Personal Loan EMI for 3 Years?

Check the monthly EMI for a ₹4 lakh personal loan with a 3 years tenure at 11% interest in the table below.

Loan Amount Interest Rate Tenure Monthly EMI Total Amount Payable Total Interest
₹4,00,000 11% p.a. 3 Years ₹13,096 ₹4,71,438 ₹71,438

What is the ₹4 Lakh Personal Loan EMI for 4 Years?

Below is the EMI breakdown for a ₹4 lakh personal loan for 4 years at an 11% interest rate.

Loan Amount Interest Rate Tenure Monthly EMI Total Amount Payable Total Interest
₹4,00,000 11% p.a. 4 Years ₹10,338 ₹4,96,234 ₹96,234

What is the ₹4 Lakh Personal Loan EMI for 5 Years?

Here’s how much EMI you’ll pay on a ₹4 lakh personal loan for 5 year at 11% per annum.

Loan Amount Interest Rate Tenure Monthly EMI Total Amount Payable Total Interest
₹4,00,000 11% p.a. 5 Years ₹8,697 ₹5,21,818 ₹1,21,818

What is the ₹4 Lakh Personal Loan Eligibility Criteria?

Eligibility criteria may vary slightly across lenders, but the core requirements remain similar. Users can use a Personal loan eligibility calculator to check if they qualify for the same.

  • Age: Applicants need to be between the ages of 21 and 60 years.
  • Employment Status: Salaried or self-employed with a stable source of income.
  • Credit Score: A credit score of 750+ improves approval chances and interest rates.
  • Credit History: Lenders review repayment behaviour and existing credit obligations.
  • Debt-to-Income Ratio: Lenders evaluate the proportion of monthly income used to repay existing debts.

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What are the Documents required for a Personal Loan of ₹4 Lakh?

Borrowers are required to submit standard documents when applying for a personal loan of ₹4 lakh. The personal loan documents required are as follows.

  • Identity Proof: Aadhaar card, PAN card, passport, voter ID, or driving licence.
  • Address Proof: Utility bills, Aadhaar card, voter ID, or rent agreement.
  • Income Proof: Salary slips, bank statements for 6 months, Form 16, or income tax returns for salaried individuals. Business financial statements and ITRs for self-employed applicants.
  • Employment Proof: Appointment letter, employment contract, or business registration documents.
  • Photographs: Recent passport-sized photographs.

How to apply for a Personal Loan of ₹4 Lakh

The application process is usually completed online.

  • Visit the official Urban Money website
  • Select “Personal Loan” under the loan category
  • Look for lenders offering ₹4 lakh personal loans
  • Click “Enquire Now” for the preferred option
  • Enter basic details such as name, mobile number and city
  • Verify identity using the OTP sent to the registered number
  • Our loan specialist will shortly contact you to guide the process until disbursal

Once approved, the loan amount is disbursed as per the lender’s timelines.

What are the things to keep in mind when getting a ₹4 Lakh Personal Loan?

A personal loan for ₹4 lakhs is suitable when the EMI fits within your monthly income and the loan addresses a clear financial need. Borrowers should compare lenders and their respective personal loan interest rates, calculate the EMI in advance, and understand all charges before applying. Timely repayment helps maintain a healthy credit profile and avoids additional costs.

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Frequently Asked Questions (FAQs)

How long does it take to get a personal loan of ₹4 lakh?

If your documents are in order, many banks release the money within a day or two. In some cases, especially with private lenders, it can even happen the same day. NBFC personal loans are also quick and instant.

Which lender offers the best personal loan of ₹4 lakh?

It really depends on your credit score, income, and where you already have a banking relationship.

What are the processing fees for ₹4 lakh personal loans?

Most lenders charge a processing fee between 0.5% and 4% of the loan amount. Government banks usually stay on the lower side, while private lenders may charge more.

What is the average repayment tenure for a ₹4 lakh personal loan?

Most people choose a tenure between 3 and 5 years. Some lenders allow longer repayment periods, but that increases the total interest paid.

Do I need collateral to secure a ₹4 lakh personal loan?

No, a personal loan of ₹4 lakh doesn’t require any collateral. Approval is based on your income and credit history.

How does a ₹4 lakh personal loan affect my credit score?

Regular, on-time EMI payments help your credit score over time. Missed payments do the opposite and can show on credit reports for years.

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