Interested in financial products

Interest rate on Rs. 5 Lakhs of loan depends on various factors. It is hard to tell the fixed interest rate for a loan amount. If your loan is a secured loan such as a car loan, home loan, two-wheeler loan, or gold loan, the interest rate will be lower. The interest rate on a secured loan may range between 8% to 17% depending on your credit profile.

On the other hand, if your loan is an unsecured loan such as a personal loan or a collateral-free business loan, the interest rate may range between 12% to 37%. However, this also purely depends on your credit profile.

Apart from the above factor, interest rate on your loan is influenced by credit score, employment, monthly income, tenure, relationship with the lender, your age and residential area. Before applying for a loan, you must ensure that you have a good eligibility criteria to avail a low interest rate loan. It is important to check your credit score before applying for a loan as it will help get an idea of your credit health status.

Apply for a credit score
×Thank you! Your comment will be reviewed and posted shortly.

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application