✓Minimal Documentation ✓Collateral Free Loans ✓Instant Loan Disbursal | Apply for Personal Loan Now! Apply Now

A personal loan of ₹1 Lakh can help when you need funds urgently. Some features of the ₹1 Lakh loan include its simple eligibility criteria and low interest rates starting from just 9.99% p.a. Furthermore, the flexible loan tenure that ranges up to 96 months enables you to repay the loan at your convenience. So, if you want instant ₹1 Lakh personal loan on Bajaj Markets, the process is simple and quick if your documents are in place and you fulfil the eligibility criteria.

Interest Rate for a Personal Loan of ₹1 Lakh

The details of some lenders that offer personal loans of ₹1 Lakh are as follows:

Lenders

Starting Interest Rates

Bajaj Finance

10% p.a.

CASHe

27% p.a.

Federal Bank

11% p.a.

Fibe

14% p.a.

Finnable

15.95% p.a.

IIFL Finance

16.50% p.a.

InCred

16% p.a.

Kissht

14% p.a.

Kotak Mahindra Bank

10.99% p.a.

KreditBee

15% p.a.

L&T Finance

12% p.a.

moneyview

15.96% p.a.

Muthoot Finance

14.50% p.a.

Olyv

18% p.a.

PaySense

14% p.a.

Privo

9.99% p.a.

SMFG India Credit

12% p.a.

Upwards

18% p.a.

YES BANK

12.50% p.a.

Zype

18% p.a.

*Disclaimer: These rates are subject to change at the lender’s discretion

Calculate the EMI for a Personal Loan of ₹1 Lakh

Loan Amount
Tenure
Months
Rate of Interest
Personal Loan
Your Monthly Personal Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

₹1 Lakh Personal Loan EMI Over Varying Tenures

Let’s explore the impact of various tenures on your monthly instalment with an example. Assume that the interest rate of ₹1 Lakh loan is 9.99% p.a. As per this, the EMI over different tenures are presented in the following table:

Tenure

EMI Amount

Total Interest

Total Repayment Amount

12 months

₹8,791.12

₹5,493.48

₹1,05,493.48

24 months

₹4,614.03

₹10,736.75

₹1,10,736.75

36 months

₹3,226.25

₹16,144.97

₹1,16,144.97

48 months

₹2,535.78

₹21,717.35

₹1,21,717.35

60 months

₹2,124.21

₹27,452.75

₹1,27,452.75

72 months

₹1,852.08

₹33,349.73

₹1,33,349.73

84 months

₹1,659.60

₹39,406.55

₹1,39,406.55

96 months

₹1,516,89

₹45,621.18

₹1,45,621.18

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

 

Consider the above insights before you apply to choose a tenure that fits your budget and suits your preferences.

Eligibility Criteria and Documents Required for Personal Loan of ₹1 Lakh

Make sure to meet the following criteria to qualify for a personal loan of ₹1 Lakh:

  • Age: 21 years or above

  • Credit Score: 600 or higher

  • Monthly Income: ₹15,000 or more

  • Work Experience: 2-3 years

  • Citizenship: Indian

  • Employment Type: Salaried or self-employed

 

Also, keep the following documents handy for a seamless loan application process:

  • ID Proof: Any one of the following

    • PAN card

    • Aadhaar card

    • Voter ID

    • Driving licence

    • Passport

  • Address Proof: Any one of the following 

    • Voter ID

    • Passport

    • Aadhaar card

    • Driving licence

    • Utility bill

  • Income Proof: Salary slip or bank statement of the last 3 months

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Frequently Asked Questions

Can I get a ₹1 lakh personal loan without submitting my income proof?

You can get a ₹1 Lakh loan without income proof. However, for this, you will be required to meet certain conditions like offering collateral.

How can I get a ₹1 lakh personal loan?

You can apply for a personal loan of ₹1 Lakh through Bajaj Markets by following these simple steps:

  • Click on the ‘Check Offer’ option on this page

  • Enter your personal and professional details

  • Choose a lender from the list provided

  • Select the required loan amount and preferred tenure

  • Check the information entered and submit the application

 

Following this, a representative will reach out to you for further proceedings.

What is the interest rate applicable on a personal loan of ₹1 Lakh?

You can secure a loan of ₹1 Lakh at interest rates starting from just 9.99% p.a. by applying for it on Bajaj Markets.

Can I get a ₹1 lakh personal loan without submitting any collateral?

Since personal loans are collateral-free, you can get a ₹1 lakh personal loan without offering any security.

How fast can I get a personal loan of ₹1 Lakh?

You can get a ₹1 lakh personal loan instantly within minutes by applying for it on Bajaj Markets. Here, multiple lending partners like Fibe, KreditBee, Privo, and Kissht send the amount to your account within 5 to 15 minutes, once your application is approved.

What is the minimum and maximum tenure for ₹1 Lakh loan?

You can enjoy tenures ranging from a couple of months to 6 years by applying for a personal loan of ₹1 Lakh on Bajaj Markets.

Home
active_tab
Loan Offer
active_tab
CIBIL Score
active_tab
Download App
active_tab