4 Lakh Persona  Loan

A personal loan of up to Rs. 4 Lakhs can fulfil your financial goals, such as house repairs, renovation, medical expenses, going on a foreign trip, and so on. There are several lenders in India who offer a Rs. 4 Lakh loan at affordable interest rates of 10% p.a. onwards. These loans can be repaid in flexible tenures of 12 to 96 months.

  • Banks & NBFCs
  • EMI for 5 Years
  • EMI Calculator
  • Eligibility Criteria
  • Documents Required
  • Why Choose Personal Loan
  • How to Apply

Best Banks & NBFCs Offering ₹4 Lakh Loan

Below are the top banks and NBFCs in India that offer a personal loan of Rs. 4 Lakhs, along with their interest rates and other features:

Bank/NBFCLoan AmountRate of InterestProcessing FeeMaximum Tenure (in Months)
HDFC BankRs. 50,000 - Rs. 40 Lakhs10.85% - 24% p.a.Up to Rs. 6,500 + GST60
ICICI BankRs. 50,000 - Rs. 50 Lakhs10.85% - 16.65% p.a.Up to 2% of the loan amount + applicable taxes72
Axis BankRs. 50,000 - Rs. 40 Lakhs11.1% - 22% p.a.Up to 2% of the loan amount + GST84
Kotak Mahindra BankRs. 50,000 - Rs. 35 Lakhs10.99% - 16.99% p.a.Up to 5% of the loan amount + taxes72
SBIRs. 1 Lakh - Rs. 35 Lakhs11.45% - 14.60%Nil till 31st January 202584
HSBCRs. 75,000 - Rs. 30 Lakhs10.15% - 16% p.a. Up to 2% of the loan amount60
Yes BankRs. 50,000 - Rs. 50 Lakhs11.25% - 21% p.a.Up to 2.5% of the loan amount72
Aditya Birla CapitalRs. 1 Lakh - Rs. 40 Lakhs10% - 32% p.a.Up to 4% of the loan amount84
Bajaj FinservRs. 20,000 - Rs. 55 Lakhs10% - 31% p.a.Up to 3.93% of the loan amount96
Tata CapitalRs. 40,000 - Rs. 35 Lakhs11.99% - 29.99% p.a.Up to 5.5% of the loan amount + GST72
L&T FinanceRs. 50,000 - Rs. 30 Lakhs11% p.a. onwardsUp to 3% of the loan amount + applicable taxes72

4 Lakh Personal Loan EMI for 5 Years

You can calculate the 4 Lakh loan EMI for 5 years or any tenure using the personal loan EMI calculator tool. 

Below is the EMI calculation table for a personal loan of Rs. 4 Lakhs for 5 years at an interest rate of 10% p.a.

Loan AmountLoan Tenure (Months)Interest Rate (p.a.)EMI (₹)Total Amount Payable (₹)
₹4,00,0001210%₹35,166₹4,21,992
₹4,00,0002410%₹18,458₹4,42,991
₹4,00,0003610%₹12,907₹4,64,647
₹4,00,0004810%₹10,145₹4,86,962
₹4,00,0006010%₹8,499₹5,09,929

4 Lakh Loan EMI Calculator

To calculate the 4 Lakhs personal loan EMI, lenders use a specific formula as mentioned below:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, 

  • P = Principal loan amount
  • N = Tenure in months
  • R = Monthly rate of interest

The EMI for 4 Lakh personal loan may vary depending on the rate of interest and repayment tenure.

For example, Rs. 4 Lakh personal loan EMI for 5-year tenure will be Rs. 8,697 at an 11% p.a. interest rate. However, the EMI for the same amount and tenure, at a 10% p.a. interest rate will be Rs. 8,499.

This 4 Lakh EMI calculation can be done instantly using the 4 Lakh loan EMI calculator available on our website.

4 Lakh Personal Loan Eligibility Criteria

To be eligible for a 4 Lakh personal loan, you will have to meet the following criteria:

  • Minimum age for loan application: At least 21 years old
  • Nationality: Indian resident
  • Occupation: Salaried and self-employed both can apply 
  • Income: Minimum monthly income should be at least Rs. 15,000 
  • Credit score: At least 700

Documents Required for ₹4 Lakh Loan

Below is the list of documents required to apply for a personal loan 4 Lakh:

Documents for Salaried Applicants

  • Proof of identity & address: You can get a 4 Lakh loan on Aadhar Card/ Voter ID/ Passport/ Ration Card/ PAN Card/ Driving License/ Utility Bills of the last 3 months. 
  • Proof of income: Last 6 months' statements of salary account, salary slips of the last 3 months, and ITR/Form 16. Some online lenders may also offer 4 Lakh loan without income proof.

Documents for Self-employed Applicants

  • Proof of identity & address: Voter ID/ Aadhaar Card/ Passport/ Ration Card/ PAN Card/ Driving License/ Utility Bills of last 3 months. 
  • Business proof: Form 26 AS, Income Tax Challan/ TDS certificate (Form 16A) for income tax declared.
  • Proof of income: Last 3 years’ bank account statements, ITR of the last 2 years with Profit & Loss Statement, balance sheet & income computation of the last 2 years.

Why Choose a ₹4 Lakh Personal Loan?

  • Personal loans can be used for almost all legitimate purposes, such as funding an international trip, purchasing a gadget, and so on.
  • Personal loans can be used for consolidating all your existing debts. 
  • A personal loan of Rs. 4 Lakhs can help you build or improve your CIBIL score with regular, timely repayments.
  • A 4 Lakh loan by government banks usually comes at lower interest rates. 
  • A personal loan can be used to create an emergency fund.
  • You can easily get a 4 lakh instant loan if you apply online.

How to Apply for a ₹4 Lakh Loan

I need 4 lakh rupees urgently - if you are thinking this, here is how to apply for a personal loan instantly:

  • Open the personal loan page on our web portal and select your preferred lending partner for a 400000 loan.
  • Click on the ‘Apply Now’ tab and complete the online application by mentioning the basic personal and professional information.
  • After the initial pre-assessment of your eligibility for the loan, you will be prompted to upload some documents.
  • Once the details are verified, you will receive a loan approval from the lender, and the funds will be disbursed to your bank account instantly.

FAQs

No, all lenders charge interest rates and processing fees on personal loans, hence there is no way to get an Rs. 4 lakh loan without interest. You can borrow 4 Lakhs from family members or friends to avoid paying interest.

The EMI for a 4 Lakh personal loan for 5 years varies depending on the interest rate. For example, the 4 Lakh personal loan EMI for 5 years at 10% p.a. interest rate will be Rs. 8,499.

The EMI for Rs. 4 Lakh loan varies depending on the interest rate and tenure. For example, at a 10% p.a. interest rate for 6 6-year tenure, the EMI would be approximately Rs.7,410.

You can get a personal loan of Rs. 4 Lakhs by applying for the loan through the lender’s website/mobile app, our portal or visiting the nearby bank branch.

The minimum income required to avail of a personal loan of at least Rs. 4 Lakh is Rs. 15,000 per month or more.

Yes, some online lenders may offer a 4 lakh loan without income proof.

4 lakh personal loan EMI for 3 years varies depending on the interest rate. For example, the 4 Lakh loan EMI for 3 years at 10% p.a. interest rate will be Rs. 12,907.

You can get a 4 lakh loan through government schemes like Pradhan Mantri Mudra Yojana (PMMY), Prime Minister's Employment Generation Programme (PMEGP), etc.

Updated On Apr 14, 2025
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Written By Reshma RawatAssistant Content Manager of MyMoneyMantraCredit Cards, Credit Score, Personal Loan, Home Loan, etc.

Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.

Assistant Content Manager of MyMoneyMantra
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Written By Abhijeet SinghSenior Editor of MyMoneyMantraCredit Cards, Credit Score, Personal Loan, Home Loan, etc.

Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.

Senior Editor of MyMoneyMantra