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Do you want 10 lakh rupees urgently? Loan applicants can easily avail up to Rs. 10 Lakhs as Personal Loan (even up to Rs. 50 Lakh based on other criteria) from well-known banks and NBFCs. There are many factors that influence the lender's loan sanctioning decision, and it would be wise to know the eligibility criteria, application process and the EMI amount and tenure in advance so that the loan amount disbursal is quick and hassle-free.

Rs. 10 Lakh Personal Loan Eligibility

  • Loan applicants should be an Indian national.

  • The  applicant must be between 21 to 65 years of age.

  • The applicant must have a minimum monthly earning of Rs. 15,000/-.

  • Applicants must be a salaried individual i.e., working in the public sector or in a private company, or self-employed, with a minimum 1 year in the business.

  • A CIBIL score of 750 or more will make it easier for the loan applicant to avail Rs. 10 Lakh Personal Loan

₹10 Lakh Personal Loan EMI for 5 Years

Loan Amount (Rs)

Tenure (years)

Interest Rate (p.a.)

EMI (Rs)

10 Lakhs




10 Lakhs




10 Lakhs




10 Lakhs




10 Lakhs




Figures calculated are based on the current interest rates and subject to change.

Interest Rates for ₹10 Lakh Personal Loan

Check out the Personal Loan interest rates offered by some of the top banks in India:


Range of Interest Rate

Bajaj Finance Limited

14% onwards

Axis Bank

10.49% onwards

PaySense Partners

14% onwards


14% onwards

SMFG India Credit

12% to 36%


27% onwards


14% onwards

Muthoot Finance

13.75% onwards

YES Bank

10.70% onwards


18% onwards


24% p.a. onwards

IIFL Finance

18% p.a onwards


1.5% p.m. Onwards

L&T Finance

11% p.a. Onwards

Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.

How to Apply for ₹10 Lakh Personal Loan?

The Personal Loan application process is very quick and hassle-free. Applicants can easily apply for a Rs. 10 Lakh Personal Loan through both online and offline channels. Visit the nearest bank branch and fill out the personal loan application, submit documents, and apply for a personal loan. However, it is far quicker and more convenient to do the same on the bank’s website or mobile app nowadays.

  • Compare interest rates and EMI amounts of different lenders and institutions online, using their Personal Loan EMI calculators for free.

  • Once you finalise the lender, visit the lending bank’s website or mobile app and select ‘Apply for Personal Loan’.

  • Fill in the application form and keep the required documents handy.

  • Check for processing fees and other levied charges if any

Once you submit your online application, a bank representative will get in touch with you and then take the process ahead.

Documents Required for ₹10 Lakh Personal Loan

To avail a personal loan, here is the list of basic documents that an applicant must keep handy:

  • Proof of identity like PAN card, Aadhaar card, etc

  • Address proof LIKE Passport, Electricity bill, Ration card, etc

  • ITR Form or Form 16 of the last financial year

  • Salary slips of last 3 months (for salaried individuals)

  • Bank account statement of the last 6 months

  • Form 26AS, TDS certificate (Form 16A) or Income Tax challan to declare income tax of the business (for self-employed)

  • ITR returns of the last 2 financial years (for self-employed)

  • Proof of business origination (for self-employed)

Frequently Asked Questions

You can easily apply for a Rs. 10 Lakh instant personal loan online by filling in the application form and submitting the necessary documents. Alternatively, you can also visit the bank’s nearest branch and apply for a personal loan in no time. It is crucial to ensure that you fulfil the eligibility criteria required to apply for a personal loan so that your application can be processed faster.

The monthly EMI for a Rs. 10 Lakh Personal Loan depends on the tenure selected by the loan applicant and the rate of interest offered by the bank or NBFC. You can visit the website of most banks and directly calculate your Rs. 10 Lakh Personal Loan EMI using their loan calculators for free.

Generally, most banks offering Personal loans have a rate of interest starting from 10.25%. However, these rates are subject to norms laid by the government and can be revised by the banks and NBFCs whenever they feel the need to.

You can easily get a personal loan without pledging a collateral. Approval for such types of loans is based on the applicant’s credit score, past payment history, and current earnings.

There are many banks that offer Rs.  10 Lakh personal loan at a competitive rate. However, it is best to consult relationship managers from multiple banks, compare their requirements, loan tenure, rate of interest, and only then select the bank of your choice and apply for a personal loan.

If the borrower is unable to pay the Rs. 10 Lakh Personal Loan EMI for a stipulated time period, then banks issue a 60-day notice wherein the loan defaulter can pay back all pending dues and close the notice. However, if the loan is not repaid in the notice period, then the lender holds the right to proceed legally against the borrower.

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