How to Get ₹5 Lakhs Immediately

How to Get ₹5 Lakhs Immediately

If you need ₹5 lakhs urgently, here’s a detailed guide including Vizzve Financials, banks, NBFCs, and other financial services categorized by state availability for convenience.

1. Vizzve Financials

Why Choose Vizzve Financials?

• Fast approval and instant disbursal.
• Flexible repayment options with transparent terms.
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Steps to Apply:

1. Visit the Vizzve Financials Website/App: Download the app or visit their official website.
2. Sign Up: Use your mobile number to create an account.
3. Verify PAN Details: Complete your KYC using your PAN card.
4. Enter Bank Information: Provide your bank account details for loan disbursal.
5. Receive Funds: After approval, the amount is credited instantly to your bank account.

Eligibility Criteria:

• Age: 21–60 years.
• Income: Stable monthly income required.
• Documents: PAN card, Aadhaar, and address proof.

• State Availability: Pan-India.
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2. Banks That Offer ₹5 Lakhs Personal Loans

a. HDFC Bank

• Eligibility: Salaried individuals with a monthly income of ₹25,000+.
• Features:
  • Pre-approved loans for existing customers.
  • Interest rates starting at 10.5% p.a.
  • Instant disbursal via NetBanking or mobile app.
• State Availability: Pan-India.
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b. ICICI Bank

• Eligibility: Salaried and self-employed individuals.
• Features:
  • Loans up to ₹40 lakhs.
  • Flexible tenure of up to 6 years.
  • Pre-approved loans for account holders.
• State Availability: Pan-India.
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c. SBI (State Bank of India)

• Eligibility: Salaried individuals and pensioners.
• Features:
  • Loans up to ₹20 lakhs under Xpress Credit.
  • Interest rates starting at 10.90% p.a.
  • Simple application process.
• State Availability: Pan-India, with strong penetration in rural areas.
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d. Axis Bank

• Eligibility: Salaried individuals with a stable income.
• Features:
  • Loan amounts up to ₹15 lakhs.
  • Interest rates starting at 12% p.a.
  • Quick disbursal for existing customers.
• State Availability: Major cities in states like Kerala, Rajasthan, Punjab, and Telangana.
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3. Top NBFCs Offering ₹5 Lakhs Personal Loans

a. Bajaj Finserv

• Loan Amount: Up to ₹25 lakhs.
• Features:
  • Instant loan approval for eligible customers.
  • Tenure of up to 60 months.
  • Minimal documentation required.
• State Availability: Maharashtra, Tamil Nadu, West Bengal, Delhi, and Haryana.
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b. Tata Capital

• Loan Amount: Up to ₹25 lakhs.
• Features:
  • Flexible repayment options.
  • Competitive interest rates.
  • Fast processing and disbursal.
• State Availability: Karnataka, Gujarat, Punjab, and Andhra Pradesh.
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c. Fullerton India

• Loan Amount: ₹50,000 to ₹25 lakhs.
• Features:
  • Loans for both salaried and self-employed individuals.
  • Tenure options of 12–60 months.
  • No collateral required.
• State Availability: Rajasthan, Kerala, Bihar, and Odisha.
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d. Muthoot Finance (Gold Loan)

• Loan Amount: Based on the value of pledged gold.
• Features:
  • Instant disbursal within 30 minutes.
  • Lower interest rates compared to personal loans.
• State Availability: Strong presence in South Indian states like Kerala, Tamil Nadu, Andhra Pradesh, and others.
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4. Loan Apps for Quick ₹5 Lakhs Disbursal

a. KreditBee

• Loan Amount: Up to ₹3 lakhs.
• Features:
  • Ideal for salaried professionals.
  • Quick approval and same-day credit.
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b. MoneyTap

• Loan Amount: Up to ₹5 lakhs.
• Features:
  • Flexible credit line.
  • Pay interest only on the amount used.
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c. PaySense

• Loan Amount: ₹5,000 to ₹5 lakhs.
• Features:
  • Paperless application process.
  • Flexible EMIs.
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d. CASHe

• Loan Amount: ₹7,000 to ₹4 lakhs.
• Features:
  • Loans for salaried professionals.
  • Minimal documentation required.

State Availability: Loan apps like KreditBee, MoneyTap, and PaySense are available nationwide, subject to local regulations.

5. Gold Loans for Immediate Cash

Gold loans are one of the quickest ways to secure ₹5 lakhs, especially if you have gold assets.

Providers:

• Muthoot Finance
• Manappuram Finance
• HDFC Gold Loans
• ICICI Gold Loans
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Features:

• Loans up to 75% of the gold’s value.
• Interest rates starting as low as 7% p.a.
• Instant approval and disbursal.

State Availability: Pan-India, with significant presence in rural and urban areas.

6. Overdraft Facility from Banks

If you have a good relationship with your bank, you can request an overdraft facility.

Eligibility: High credit score and existing account.
Features:

• Interest charged only on the amount used.
• Immediate availability of funds.

Tips to Secure ₹5 Lakhs Easily

1. Check Your Credit Score: A score above 750 improves approval chances.
2. Pre-Approved Offers: Use pre-approved loan options for faster processing.
3. Compare Options: Use online loan comparison platforms to find the best interest rates and terms.
4. Ensure Documentation is Ready: Keep ID proof, income proof, and bank details handy.