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₹12 Lakh Personal Loan

Get a ₹12 Lakh personal loan at interest rates starting from just 10% p.a. and

Your Personal Loan EMI

₹ 7,436

Total Interest Amount

₹ 96,188

Principal Amount

₹ 3,50,000

Total Payable Amount

₹ 4,46,188

Loan Amount

Min Max

Interest Rate

- +

Tenure

- +

Apply for ₹12 Lakh

You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

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Year	EMI	Principal	Interest	Balance

Apply for Instant ₹12 Lakh Personal Loan

A personal loan of ₹12 Lakh is an unsecured loan that you can repay through EMIs over a chosen tenure, without pledging any collateral.

You can use it for expenses such as weddings, medical emergencies, home renovation, travel, or consolidating existing debt. Before applying, it is advisable to estimate your EMI and ensure that the repayment fits comfortably within your finances.

The ₹12 Lakh personal loan EMI depends on the interest rate and repayment period you choose, allowing you to adjust the monthly instalment based on your budget.

₹12 Lakh Personal Loan EMI Calculator

Use a personal loan EMI calculator to estimate your monthly instalment based on the loan amount, interest rate, and tenure.

For example, the ₹12 Lakh loan EMI for 5 years at 10% p.a. would be around ₹25,496 per month. By adjusting the tenure or interest rate, you can find an EMI that fits your budget and repayment capacity.

₹12 Lakh Personal Loan EMI for 5 Year

Your EMI depends on the tenure you choose. A shorter tenure results in higher EMIs but lower overall interest, while a longer tenure reduces your monthly burden but increases total repayment.

To understand this better, here is an illustration of a ₹12 Lakh personal loan EMI at 10% p.a. across different tenures:

Tenure	EMI Amount	Interest Rate	Total Interest Payable	Total Repayment Cost
12 Months	₹1,05,499	10% p.a.	₹65,988	₹12,65,988
24 Months	₹55,374	10% p.a.	₹1,28,976	₹13,28,976
36 Months	₹38,721	10% p.a.	₹1,93,956	₹13,93,956
48 Months	₹30,435	10% p.a.	₹2,60,880	₹14,60,880
60 Months	₹25,496	10% p.a.	₹3,29,760	₹15,29,760

Disclaimer: These figures are approximate and meant for illustration only. Actual values may vary based on lender terms, interest rates, and your credit profile.

₹12 Lakh Personal Loan Interest Rates Offered by Various Lenders on Bajaj Markets

You can compare multiple lenders available on Bajaj Markets and select a suitable option as per your requirements.

Here is the table:

Available Offerings	Max. Loan Amount	Min. Interest Rate	Max. Repayment Tenure	Processing Fee
L&T Finance Personal Loan	₹15 Lakhs	12% p.a.	48 months	Up to 3% of the loan amount + GST
Bajaj Finance Personal Loan	₹55 Lakhs	10% p.a.	108 months	Up to 3.93% of the loan amount (Inclusive of applicable taxes)
SMFG India Credit Personal Loan	₹25 Lakhs	12% p.a.	60 months	0% to 6% of the loan amount
Kotak Mahindra Bank Personal Loan	40 Lakhs	10.99% p.a.	72 months	1.10% - 1.50% of the loan amount + GST

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

Features and Benefits of a ₹12 Lakh Personal Loan

Flexible Repayment Tenure

Choose a repayment period that suits your financial comfort, helping you manage EMIs without stress

Quick Online Application

Apply digitally with a simple process, reducing paperwork and saving time

No Collateral Required

This is an unsecured loan, so you do not need to pledge any assets to get funds

High Loan Amount

Access a substantial loan amount to meet major expenses like weddings, home renovation, or medical needs

Eligibility Criteria for a ₹12 Lakh Personal Loan

Before applying for a ₹12 Lakh personal loan, ensure you meet these basic criteria:

Minimum age of 18 years
Salaried or self-employed
Should have stable source of income
CIBIL score of 650+ preferred

Meeting these requirements can improve your chances of loan approval. However, exact criteria may vary slightly depending on the lender.

Documents Required for a ₹12 Lakh Personal Loan

When applying for a loan, keeping the necessary documents ready can speed up the process. Here are the commonly required documents:

Identity and Address Proof (any one)
- PAN card
- Aadhaar card
- Voter ID
- Driving licence
- Passport
Income Proof
- Last 3 months’ bank statements
- Last 3 months’ salary slips

These requirements may differ across lenders, so it is advisable to check specific document needs before applying.

How to Apply for a ₹12 Lakh Personal Loan on Bajaj Markets

You can apply online in a few simple steps:

Click here to apply for the ₹12 Lakh loan
Enter your personal and professional details
Provide PAN, mobile number, email ID, and date of birth
Fill in employment details such as company name and salary
Compare offers and select a suitable loan and tenure
Complete KYC and get the amount after verification

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Vatsal G

Financial Content Specialist

Reviewer

Aakash Jain

FAQs on ₹12 Lakh Personal Loan

What is the ₹12 Lakh personal loan EMI for 5 years?

For a ₹12 Lakh personal loan at 10% p.a. over 5 years, the EMI is approximately ₹25,496 per month. The exact amount may vary based on the interest rate and lender.

What is the ₹12 Lakh personal loan EMI for 10 years?

The ₹12 Lakh loan EMI for 10 years at an interest rate of 10% p.a. is approximately ₹15,858 per month. While opting for a longer tenure reduces your monthly EMI, it also increases the total interest payable over time.

What is the minimum salary for a ₹12 Lakh loan?

The minimum salary required for a ₹12 Lakh loan may vary based on the lender and your credit profile.

What CIBIL score is needed for ₹12 Lakh?

A CIBIL score of 650 or above is generally preferred on Bajaj Markets. Approval may still depend on other eligibility factors set by lenders.

How do I calculate ₹12 Lakh loan EMI?

You can calculate EMI using an online calculator by entering the loan amount, interest rate, and tenure. This helps you estimate monthly payments before applying.

Is a ₹12 Lakh personal loan unsecured?

Yes, a ₹12 Lakh personal loan is unsecured, which means you do not need to provide any collateral. Approval depends on your income and credit profile.

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