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Home Blog Cash Loan 6 Lakh Personal Loan EMI

₹6 Lakh Personal Loan EMI: Monthly Payment, Calculation and Interest in 2025

Published : October 28, 2025, 1:04 AM

Updated : October 28, 2025, 1:04 AM

Author : Vivek

Cash Loan

Personal Loan

735 views

Summary

A ₹6 lakh personal loan is an ideal way to fund major expenses such as weddings, education, travel, or home upgrades. Interest rates generally range from 11% to 23% p.a., with repayment tenures between 1 to 5 years and EMIs starting around ₹13,199. Borrowers need to meet basic eligibility criteria like income and credit score and submit minimal documents. With NoBroker Insta Cash, applicants benefit from instant approval, quick processing, and fast disbursal, making it a smooth and reliable borrowing choice.

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Achieving major financial goals becomes easier with the flexibility and convenience of a ₹6 lakh personal loan. Whether you’re planning a dream vacation, covering medical emergencies, or upgrading your home, this amount provides the right balance between affordability and adequacy. The 6 lakh personal loan EMI depends on factors like interest rate, tenure, and lender terms.

₹6 Lakh Personal Loan Summary- Quick Info

Before delving into the detailed aspects of your loan, here is a quick summary of the typical financial parameters involved. [1] [2] [3] [4] [5] [6] [7] [8] [9]

Feature	Approximate Details
Loan Amount	₹6,00,000
Average Interest Rate	11.25% to 23.5% per annum
Tenure	12 to 60 months (1 to 5 years)
Lowest EMI (approx.)	₹13,109 (for a 5-year tenure at 11.25% p.a.)
Total Interest (avg.)	Varies significantly based on the chosen rate and tenure
Processing Fee	Up to 3.5% of the loan amount + GST
Prepayment Charges	2% to 5% of the outstanding principal balance

What is a ₹6 Lakh Personal Loan EMI?

EMI stands for Equated Monthly Instalment. In simple terms, it is the fixed, consistent amount you pay back to the lender every month until your entire loan of ₹6 lakh, along with the accrued interest, is fully repaid. For a personal loan 6 lakh, lenders in India typically offer tenures ranging from 12 months to 60 months. The EMI will depend on the tenure of the loan and the interest rate.

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₹6 Lakh Personal Loan EMI for Different Tenures

The repayment tenure you select is one of the most critical factors influencing your monthly financial commitments. A longer tenure results in a smaller, more manageable EMI, which can ease the pressure on your monthly budget. The following table demonstrates how the EMI for a ₹6 lakh loan changes with different tenures, using a sample interest rate of 12.2% per annum for all calculations. [1]

Tenure	Interest Rate (p.a.)	Approx. EMI (₹)	Total Interest (₹)	Total Payment (₹)
1 Year (12 months)	12.2%	₹53,405	₹40,860	₹6,40,860
2 Years (24 months)	12.2%	₹28,321	₹79,704	₹6,79,704
3 Years (36 months)	12.2%	₹19,941	₹1,21,876	₹7,21,876
4 Years (48 months)	12.2%	₹15,820	₹1,65,360	₹7,65,360
5 Years (60 months)	12.2%	₹13,388	₹2,11,280	₹8,11,280
6 Years (72 months)*	12.2%	₹11,777	₹2,47,944	₹8,47,944
7 Years (84 months)*	12.2%	₹10,576	₹2,88,384	₹8,88,384
10 Years (120 months)*	12.2%	₹8,646	₹4,37,520	₹10,37,520

Note: Personal loans are typically unsecured, short-to-medium term credit. Therefore, tenures longer than 5 or 7 years, such as a 6 lakh personal loan EMI for 10 years, are uncommon. While they offer a much lower EMI, the interest payout increases dramatically, making them a less economical choice.

EMI Calculation Formula for ₹6 Lakh Personal Loan

While using a 6 lakh loan EMI calculator is the easiest way to determine your monthly payments, knowing the formula behind it can demystify the process.

The standard formula used to calculate the EMI is: [1]

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

Where the variables stand for:

P: Principal Loan Amount (in this case, ₹6,00,000)
R: Monthly Interest Rate. This is calculated by taking the annual interest rate, dividing it by 12, and then by 100.
N: Number of monthly instalments, which is the loan tenure in months.

₹6 Lakh Personal Loan EMI at Top Banks (2025)

Comparing offers from various banks and Non-Banking Financial Companies (NBFCs) is a vital step before finalising your loan. Below is a comparative table of approximate EMIs for a ₹6 lakh personal loan from some of India's top lenders, calculated for a 5-year tenure.

Bank/NBFC	Indicative Interest Rate (p.a.)	Tenure (in years)	Approx. EMI (₹)
State Bank of India (SBI) [2]	10.05% onwards	5	₹12,761
HDFC Bank [3]	9.99% onwards	5	₹12,746
ICICI Bank [4]	10.60% onwards	5	₹12,927
Axis Bank [5]	9.99% onwards	5	₹12,746
Kotak Mahindra Bank [6]	9.98% onwards	5	₹12,743
Bajaj Finserv [7]	16.00% onwards	5	₹14,598
Tata Capital [8]	11.50% onwards	5	₹13,198

Disclaimer: The interest rates mentioned are indicative starting points and are subject to change based on the lender's policies and the applicant's financial profile.

What is the Eligibility Criteria for a ₹6 Lakh Personal Loan?

To be approved for a personal loan, you must meet the lender's eligibility criteria, which are in place to assess your ability to repay the loan responsibly. [9]

You should be between 21 and 60 years of age and an Indian citizen.
The loan is available to both salaried employees and self-employed individuals with a stable source of income.
Lenders typically require a minimum net monthly income of around ₹25,000 or more to ensure you can comfortably service the EMI.
A stable employment history, usually with at least 1-2 years of total work experience, is required.
A good credit score, typically 750 or higher, is crucial. It demonstrates your creditworthiness and helps you secure a lower interest rate.

What are the Documents Required for a ₹6 Lakh Personal Loan?

Having the correct documentation ready can significantly speed up the loan application and approval process. Here is a list of the standard documents required: [9]

Identity Proof and address proof from legal documents like PAN Card, Aadhaar Card, Passport, bills, or rental agreement.
Passport-sized photographs.
Latest 3-6 months' salary slips, bank statements for the last six months showing salary credits, and Form 16.
Audited financial statements for the last two years, recent business bank statements, and Income Tax Returns.

How to Apply for a ₹6 Lakh Personal Loan or Cash Loan Online via NoBroker Insta Cash?

Digital platforms have made applying for a personal loan simpler and faster than ever. You can apply for an instant ₹6 lakh cash loan online through NoBroker Insta Cash and get quick approval, minimal documentation, and an instant transfer in just a few clicks. [9]

Here is a simple, step-by-step guide to the online application process:

Step 1: Begin by visiting the NoBroker Insta Cash platform online. Enter your basic details to perform an eligibility check and receive an instant loan offer.
Step 2: Once you receive your offer, choose the precise loan amount you need (up to ₹6 lakh) and select a comfortable repayment tenure. The platform will show you the corresponding EMI in real-time.
Step 3: Next, complete your Know Your Customer (KYC) verification digitally by uploading basic documents like your PAN card and address proof.
Step 4: The final step is to provide your bank account details and set up the auto-debit for your monthly EMI payments. Once approved, the loan amount is disbursed directly to your bank account.

Why Choose NoBroker Insta Cash Over Traditional Personal Loans?

NoBroker Insta Cash offers several advantages over the conventional loan application process offered by traditional banks.

100% digital process
Minimal documentation
Instant approval
Transparent EMI and interest
Trusted by thousands of users
High availability

Cash Loan vs Personal Loan: Key Differences

While often used interchangeably, there are key differences between a quick cash loan and a traditional personal loan.

Feature	Cash Loan (NoBroker Insta Cash)	Personal Loan (Bank/NBFC)
Processing Time	Within minutes to 24 hours	2–7 business days
Loan Amount	₹10,000 – ₹6,00,000	₹50,000 – ₹40,00,000
Tenure	Up to 24 months	1–5 years
Documents Required	Basic KYC + income proof	Multiple docs & verification
Disbursal Mode	Instant to bank account	Post-verification
Eligibility	Salaried/self-employed	Primarily salaried
Purpose	Short-term needs, emergencies	Long-term financial planning
Best For	Urgent funds, quick access	Planned large expenses

Get Instant ₹6 Lakh Cash Loan via NoBroker Insta Cash

For those seeking immediate access to funds without the hassle of paperwork, opting for NoBroker Insta Cash is the smarter choice. This digital platform provides a 100% online loan process with instant approval and minimal documentation. You can apply for a ₹6 lakh personal loan, receive same-day disbursal, and easily track your EMI schedule online. By combining convenience, transparency, and speed, NoBroker Insta Cash ensures your 6 lakh personal loan EMI remains affordable while efficiently meeting your financial needs.

Frequently Asked Questions

Q: What will be the EMI for a ₹6 Lakh loan for 3 years?

Ans: The EMI for a ₹6 lakh loan for 3 years, assuming an interest rate of 12.2% p.a., would be approximately ₹19,941. The exact amount will vary based on the final interest rate offered.

Q: Which bank gives the lowest EMI for a ₹6 Lakh personal loan?

Ans: Banks with the lowest interest rates, such as Kotak Mahindra Bank or HDFC Bank, will typically provide the lowest EMI. It is best to compare current rates before applying.

Q: Can I get a ₹6 Lakh personal loan without a salary slip?

Ans: While challenging, some lenders and fintech platforms may consider applicants without salary slips if they provide strong alternative income proofs like bank statements or ITRs.

Q: What happens if I miss an EMI payment?

Ans: Missing an EMI payment will result in late payment fees and will negatively impact your credit score, which can make it difficult to get loans in the future.

Q: How to check my ₹6 Lakh loan EMI schedule online?

Ans: Most lenders provide access to an online portal or mobile app where you can log in to your account and view your detailed loan statement, which includes the full EMI schedule.

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Vivek,Author

With over 23 years of experience in Real Estate, and an architecture degree, Vivek is here to help others buy/sell or rent the right way. Through his writing you will find out what people look for, and what you can do to get the best out of your home, and also how to get the best for your home.

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