Guwahati, May 27 -- For most people, a personal loan sounds manageable at first. Then the EMI starts. And suddenly, people realise the actual challenge was never getting approved. It was choosing the repayment structure properly.

That's usually where most borrowers make mistakes while planning a 5 lakh personal loan EMI. They focus heavily on lowering the monthly payment without fully accounting for how much extra interest accrues over longer tenures.

A ?5 lakh personal loan is one of the most commonly borrowed amounts in India. And honestly, that makes sense. It sits in a range that feels useful without appearing extremely large. Borrowers typically use this amount for:

Weddings

Medical emergencies

Home renovation

Education expense...