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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Instant ₹5 Lakh Personal Loan Online in India
Get a hassle-free personal loan with quick approval, flexible EMIs, and interest rates starting at 9.99% p.a.
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5 Lakh Personal Loan Emi Calculator
Loan amount
₹100K
₹10L
Loan term in months
Repay anytime with 0 Foreclosure charges!
9 Months
60 Months
Choose the Interest Rate
Lowest interest rate unlocked!
%
9.99%
38 %
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
*Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply
Get a Personal Loan of ₹5 lakhs with FIRSTmoney Instantly
Need funds for something important? A personal loan is a reliable solution. Whether a medical emergency, a dream vacation, or a home makeover, a personal loan can help you manage it all without the need to pledge any collateral.
With IDFC FIRST Bank’s FIRSTmoney Personal Loan, getting a ₹5 lakh loan is quick, easy, and seamless. Enjoy features like competitive interest rates starting at 9.99% p.a., zero foreclosure charges, and a 100% digital, DIY application process — so you can apply anytime, anywhere.
Pick a repayment plan that suits you, with flexible tenures ranging from 9 to 60 months. Plus, enjoy instant disbursal and minimal paperwork.
Looking for a smart, seamless borrowing experience for a ₹5 lakh loan? FIRSTmoney’s got you covered.
Benefits of a ₹5 Lakh Personal Loan
Digital and Hassle-Free Application
With no paperwork and Aadhaar-PAN based verification, you can apply from anywhere without the hassle of physical paperwork. The entire loan journey is digital, ensuring both speed and convenience.
Zero Foreclosure Charges
Want to repay early? With IDFC FIRST Bank, you can close your loan anytime without foreclosure charges, giving you control over your interest outgo.
Easy-to-Use Mobile Banking App
The IDFC FIRST Bank mobile app makes applying for a ₹5 lakh personal loan effortless. From checking eligibility to completing the application process, everything can be done in just a few clicks.
Access Extra Credit On-Demand
If you require more funds beyond your existing loan, you can request additional amounts instantly via the app without lengthy procedures.
Quick Disbursals
Once approved, your ₹5 lakh loan is credited to your bank account swiftly, often within hours, ensuring timely access to funds.
Loan Amount up to ₹10 Lakh
Depending on eligibility, you can avail loans up to ₹10 lakh, giving you the flexibility to fund bigger expenses with ease.
Flexible Repayment Choices
Repay at your pace with EMIs spread across 9 to 60 months. Choose a tenure and an EMI amount that fit your financial planning.
Why Choose a ₹5 Lakh Personal Loan from IDFC FIRST Bank?
Thinking of applying for a ₹5 lakh personal loan? Here’s why you should choose FIRSTmoney:
• Receive up to ₹5 lakh in your account within 30 minutes.
• Enjoy complete freedom to pre-close the loan with zero foreclosure costs.
• Apply anytime, anywhere through a digital process requiring minimal documents.
• Get on-demand top-up loans quickly, without fresh paperwork.
• Interest rates starting at 9.99% p.a. ensure that your EMIs remain budget friendly.
What Can a ₹5 Lakh Personal Loan Be Used For?
A ₹5 lakh personal loan empowers you to take care of life’s big and small goals without financial strain. Here are some common uses:
• Cover high medical costs, hospitalisation, or surgeries without disturbing savings.
• Finance weddings, from venue bookings to jewellery and travel arrangements.
• Plan luxury domestic or overseas trips, including flights, hotels, and leisure activities.
• Renovate or redesign your home with style and convenience.
• Fund your child’s education or skill-enhancing courses.
• Manage large expenses during festivals, family occasions, or milestone celebrations.
₹5 Lakh Personal Loan Eligibility and Documentation
Eligibility criteria for a ₹ 5 lakh personal loan
FIRSTmoney smart personal loans are available to individuals with a good credit score. Here are the basic eligibility requirements.
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- * CIBIL Score is a 3-digit numeric summary of your credit history, derived by using details found in the ‘Accounts’ and ‘Enquiries’ sections on your CIBIL Report and ranges from 300 to 900. The closer your score is to 900, the higher are the chances of your loan application getting approved.
Documents required for a ₹ 5 Lakh personal loan
To apply for a ₹5 lakh personal loan, all you need is:
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How to apply for ₹5 lakh personal loan using FIRSTmoney?
Applying for FIRSTmoney smart loan is a breeze. Here are the five easy steps:
Step 1
Start by scanning the QR code or clicking loan from your smartphone
Step 2
Register using your mobile number and confirm basic/personal details to check your eligibility
Step 3
Choose your loan preferences, including the tenure and repayment terms
Step 4
Link your bank account where you wish the funds to be disbursed
Step 5
Complete the video KYC verification process with your physical PAN card
After your loan is approved, you can start using the funds as per your needs.
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Get a ₹5 Lakh Personal Loan starting at 9.99% p.a
Tap on ‘Know More’ to view full details of fees and charges
Frequently Asked Questions
How can I check my eligibility for a ₹5 lakh personal loan?
You can check your eligibility for a ₹5 lakh personal loan in the eligibility section of your lender’s official portal. For FIRSTmoney, basic eligibility requirements are a credit score of 730 or above, a stable income through salary or self-employment, and the age bracket between 21 to 60 years.
Click out personal loan eligibility calculator
How is the interest rate for a ₹5 lakh personal loan determined?
Interest rates for a ₹5 lakh personal loan are determined based on factors such as your credit score, income stability, employment history, and the policies of the bank.
Click here for personal loan interest rate
Can I get loan amounts above ₹5 lakh with FIRSTmoney?
Yes, FIRSTmoney offers instant loans of up to ₹10 lakh, subject to the eligibility criteria. Contact IDFC FIRST Bank for specific details on loan amounts and eligibility requirements.
How to get a loan worth ₹5 lakh in one day?
With a FIRSTmoney smart personal loan, you can get a quick loan approval within the same day. In case you need quick funds to meet your urgent requirements, it is one of the most suitable loan options to rely on.
What is considered a good CIBIL score to apply for a personal loan of ₹5 lakh?
A CIBIL score of 730 and above is generally considered to be good when applying for a personal loan of ₹5 lakh. However, a higher score typically increases the likelihood of loan approval and a favourable interest rate.
What is the monthly interest on a ₹5 lakh personal loan?
The monthly interest on a ₹5 lakh personal loan depends on the applicable interest rate and the loan tenure. You can use the online IDFC FIRST Bank EMI calculator to estimate the monthly interest component based on the chosen interest rate and loan duration.
What does a foreclosure charge mean?
A foreclose charge refers to the fee charged by a bank if you choose to repay the entire loan amount before the end of the loan tenure. This charge is typically expressed as a percentage of the outstanding loan amount and may vary among lenders. However, a FIRSTmoney smart personal loan gives you the flexibility to repay the amount in full before maturity without any foreclosure charges. This, in turn, helps you close your loan and eliminate financial liabilities early without incurring any additional costs, and hidden personal loan fees & charges
What is EMI of a ₹5 Lakh Loan?
To calculate the EMI for a ₹5 Lakh Loan, you can use a personal loan EMI calculator.
What is the processing fee on a ₹5 Lakh Loan?
The personal loan processing fees for a ₹5 lakh loan at IDFC FIRST Bank generally start from 2%, depending on the loan terms.
Get FIRSTmoney Smart Personal Loan of Different Amounts
Different Types of Personal Loan for you
Home Improvement Loan
Dreaming of revamping your living space? Whether it’s modernising your kitchen, adding modular furniture, or giving your walls a fresh look, FIRSTmoney’s home improvement loan is designed to support your renovation goals. The digital-first application ensures quick processing, while attractive interest rates and flexible tenures make repayment comfortable.
Instant Cash Loan
For unplanned expenses like urgent repairs, family functions, or last-minute purchases, FIRSTmoney’s instant cash loan provides quick liquidity without paperwork or collateral. The loan is processed online, with approvals and fund transfers completed in a short time. With clarity on charges, flexible repayment schedules, and the freedom to close early, this loan ensures you remain financially agile while tackling sudden obligations with ease.
Emergency Personal Loan
Unforeseen medical treatments, urgent travel, or critical payments can strain finances. FIRSTmoney’s emergency personal loan is designed to bridge such gaps by offering same-day approvals and disbursals directly into your bank account. The loan offers competitive rates, convenient EMI choices, and no foreclosure fees, helping you stay in control while meeting immediate challenges without dipping into your savings or investments.
Travel Personal Loan
Make your dream holiday a reality with FIRSTmoney’s travel loan. From booking international flights and hotels to indulging in local experiences, this loan gives you the flexibility to plan without financial stress. The online application is seamless, and approvals are quick, allowing you to focus more on your trip and less on finances.
Wedding Personal Loan
Planning a wedding is an emotional and financial journey. With FIRSTmoney’s wedding loan, you can handle everything from décor to photography without straining your budget. This loan is designed to ease your planning process through an entirely digital application, fast approvals, and instant disbursals. With repayment tenures ranging between 9 and 60 months and interest rates that won’t break the bank, you can manage costs conveniently.
Personal Loan Tips & Insights: Your Guide to Smarter Borrowing
Prepayment of personal loans: What you need to know before repaying your dues early
01 July 2025 | 5 mins read
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