Very few lenders write unsecured personal loans at ₹50 lakh. Applicants at this level are usually better served by a loan against property or a top-up on an existing home loan, both of which cost several percentage points less.
EMI on a ₹50 Lakh personal loan
At an indicative rate of 11.5% a year, here is what a ₹50 Lakh loan costs across the tenures lenders commonly offer. The longer tenure always shows the smaller EMI and the larger total cost.
| Tenure | Monthly EMI | Total interest | Total payable |
|---|---|---|---|
| 2 years | ₹2,34,202 | ₹6,20,838 | ₹56,20,838 |
| 3 years | ₹1,64,880 | ₹9,35,681 | ₹59,35,681 |
| 4 years | ₹1,30,445 | ₹12,61,362 | ₹62,61,362 |
| 5 years | ₹1,09,963 | ₹15,97,782 | ₹65,97,782 |
| 6 years | ₹96,456 | ₹19,44,816 | ₹69,44,816 |
| 7 years | ₹86,932 | ₹23,02,314 | ₹73,02,314 |
Change the rate and tenure to your own numbers in the personal loan EMI calculator.
What income do you need?
Lenders cap total EMIs at roughly 50% of net monthly income. On a 7-year tenure the EMI is ₹86,932, which implies a net income of about ₹1,73,865 a month with no other loans running. If you already pay other EMIs, add those to the requirement.
Eligibility
- Aged 21 to 60, salaried or self-employed with documented income
- Net monthly income above ₹1,75,000, higher in metro cities
- Credit score of 750 or above for the best rates; 700+ for approval
- At least 6 months with your current employer, or 2 years of business vintage
Documents
- PAN and Aadhaar
- Last 3 months salary slips, or 2 years of ITR if self-employed
- Last 6 months bank statements