₹6 Lakh Personal Loan: Calculate EMI & Apply for 6 Lakh Loan

Get Personal Loan for ₹ 6 Lakh

A 6 Lakh Personal Loan can help you manage expenses without liquidating your savings. Whether you need to cover emergency medical bills, plan a wedding, fund your child’s education, or renovate your home, this mid-range loan amount offers a practical solution. Getting a 6 Lakh loan is now easier than ever with L&T Finance offering digital applications, fast disbursal, minimal documentation, and competitive interest rate options. With transparent fees & charges and a real-time calculator, you can estimate your EMI before you apply.

Why Opt for a ₹ 6 Lakh Personal Loan?

There are many reasons why a 6 Lakh Personal Loan could be your best financial decision:

A 6 Lakh instant loan provides quick financial relief for emergencies.
A 6 Lakh loan EMI for 5 years or more is affordable.
It’s a great option if you're seeking lump sum funds for events like weddings, higher education or medical treatments.
No collateral or guarantor is required.
With digital application processes and online appointments, approval and disbursal can happen in less than 24 hours.

Key Features and Benefits of a ₹ 6 Lakh Personal Loan

Quick online approval and disbursal
No security or collateral needed
Flexible tenure of up to 72 months
Competitive interest rate based on your credit profile
Fully digital process with zero paperwork
Transparent structure with no hidden fees & charges
Ideal for both salaried and self-employed individuals

Eligibility Criteria for ₹ 6 Lakh Personal Loan

Type	Criteria
Residency	Indian resident
Age requirement	21 to 58 years
Profession	Salaried or self-employed individuals

Documents Required for ₹ 6 Lakh Personal Loan

Document Type	Required Document & Checks
Identity Proof	Passport \| PAN Card \| Driver License \| Voter ID \| Aadhaar Card
Address Proof	Utility bill of any service provider not more than 2 months old (Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill) \| Passport \| Voter ID Card \| Driving License
Income Proof	Income proofs vary for different professionals across salaried and self employed.

Please find the easy detailed list of required documents here

Type	Document
Salaried	Last 3 month's salary slips / Form 16 / Last 3 month's bank statement reflecting salary credits / Salary Certificate
Self Employed	Latest Income Tax Return (ITR)
Bank Statement	Last 3 month's statement is mandatory
Residence Ownership Proof	Not mandatory

Interest Rates & Charges for ₹ 6 Lakh Personal Loan

Type	Interest Rate and Charges
Loan Processing Fees (non-refundable):	Up to 3%* of Loan Amount + applicable taxes
EMI Dishonour/Bounce Charge* *A bounce charge is a charge for (i) dishonour of any repayment instrument; or (ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate	As shown in the table below
Sanctioned Loan Amount	Charges
< ₹ 5 Lakh	₹ 500
₹ 5 Lakh - ₹ 30 Lakh	₹ 1000
Late Payment Charges (LPC)/ Penal Charges:	2% (p.m.) on EMI overdue + applicable taxes
	*LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec'23
	*Taxes applicable on LPC w.e.f. 1st Apr'24
Part Payment Charges:	Up to 5% of pre-paid amount + applicable taxes
Foreclosure Charges:	5% of POS (Principal Outstanding) + applicable taxes
Legal/ Recovery Charges:	As per actuals
Duplicate NOC Charges:	First 3 paper copies - free of cost
Duplicate NOC Charges:	From 4th Paper copy - ₹250 + applicable taxes
Repayment Swap charges (per swap):	₹500 + applicable taxes (applicable only for branch walk-ins)
Loan Cancellation Charge:	Nil - for 3 days from date of disbursal
Loan Cancellation Charge:	From 4th day - 5%+ applicable taxes (on the outstanding loan amount)
Document Charges:	Nil for Statement of Account (SOA), Repayment Schedule, Foreclosure Letter, Welcome Kit
Annual Maintainance Charges (AMC):	Nil

*Terms & Conditions Apply. All actual charges will be as per Key Fact Statement (KFS) shared by the company.

₹ 6 Lakh Personal Loan EMI for Different Tenures

Check the estimated EMIs for a ₹6 Lakh loan with an 11% Personal Loan interest rate

Loan Amount	Interest Rate (p.a.)	Tenure	EMI (approx.)
₹ 6 Lakh	11%	1 year	₹ 53,029
₹ 6 Lakh	11%	2 years	₹ 27,965
₹ 6 Lakh	11%	3 years	₹ 19,643
₹ 6 Lakh	11%	4 years	₹ 15,507
₹ 6 Lakh	11%	5 years	₹ 13,045
₹ 6 Lakh	11%	6 years	₹ 11,420

How to Use an EMI Calculator for ₹ 6 Lakh Personal Loan

To use the 6 Lakh loan EMI calculator, follow these steps:

Enter the loan amount as ₹ 6,00,000
Adjust the interest rate slider to your expected rate
Choose the repayment tenure
View the EMI displayed instantly
Review total repayment including interest paid
Recalculate with different values to match your affordability

Whether you're checking for 6 Lakh Personal Loan EMI for 6 years or planning to repay faster, the EMI calculator helps with informed decision-making.

How to Apply for a ₹ 6 Lakh Personal Loan

Apply for Personal Loan with these steps

1. Apply online in just few minutes

Select Personal Loan and click the 'Apply Now' button to start your seamless digital loan journey.

2. Fill in your details

Enter your personal details, such as income details, current address, and more, to instantly check your loan eligibility.

3. Get your customised offer

Explore personalised loan offers to match your needs. You may also get an option to enhance your offer.

4. Set up E-mandate

Securely provide your bank details to easily register for an E-mandate, ensuring smooth loan repayments.

5. Complete KYC

Verify your identity easily and securely with a quick KYC process from the comfort of your home.

6. Get loan disbursement

Get your loan disbursement directly in your bank account, ensuring fast and seamless access to funds.

FAQs & Support

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Are there any prepayment fees & charges for Rs. 6 Lakh Personal Loan?

Yes,there are prepayment charges of 5% of POS (Principal Outstanding) + applicable taxes.

How can I use the Personal Loan EMI Calculator to plan my loan?

Input loan amount, tenure, and interest rate to estimate monthly EMI.

Can I make part-payments on my Rs. 6 Lakh Personal Loan?

Yes, you can make part-payments for your Personal Loan. However, there is a charge of up to 5% of pre-paid amount + applicable taxes applicable for part-payments.

What are the eligibility criteria for obtaining a ₹ 6 Lakh Personal Loan?

You must be an Indian resident aged between 21 and 58 years to apply for a ₹ 6 Lakh Personal Loan with L&T Finance. The professional requirement includes salaried and self-employed individuals.