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  • 1 Lakh Personal Loan

Personal Loan of Rs 1 Lakh

Never let your financial circumstances hinder your dream. Get an instant personal loan of Rs. 1 Lakh for all your short-term needs with low interest rates. Your loan approval depends on the eligibility criteria where you can access pre-approved offers and minimal paperworks.

To avoid more paperworks and minimal verifications, you can prefer an online loan application of Rs. 1 Lakh. Get to know the eligibility criteria for acquiring yours.

By clicking above, you agree to the Terms and Conditions.

Features & Benifits

Instant Loan offer in 3 mins
24-hour disbursal
No collateral required
Loan upto 10 Lakhs
Paperless process
Attractive interest rates

Are you searching for a personal loan and not sure how to proceed? Here are the details. As the title suggests, it is a loan given for personal needs. There are financial institutions like Banks and NBFCs that fulfill such loan requirements of people.

Does that mean they give loans to everyone? Definitely No. It has some eligibility criteria. If you meet the criteria and submit the required documents, the loan sanction process will be easier. Now, let us see in detail.

Key features of Rs. 1 Lakh Personal loan

  • The maximum tenure for loan repayment is up to 9 to 42 months.
  • Interest Rates start from 18.00% and go up to 44.00%
  • Processing Fees can be up to 2% to 6% of the loan amount + GST.

1 Lakh Rupee Personal Loan Eligibility Criteria

  • You must be an Indian
  • Age: 19 to 60 years ( Varies from bank to bank)
  • CIBIL score: 700
  • Employed (public, private, MNC) or self-employed
  • Monthly salary: 15000+ (based on your residence)

Required documents for Rs. 1 Lakh Personal Loan

  • Proof of Address ( Aadhar Card)
  • PAN card
  • Minimum 6 months SA Bank statement.
  • Live selfie

EMI calculator for 1 Lakh INR Personal Loan

A personal loan calculator is of great help if you want to pay the loan in EMIs. It is calculated using three data. It includes the loan amount you wish to borrow, the interest rate, and the tenure.

Out of all three, if you change the data, the EMI amount will increase or decrease. Based on your repayment capability, you can alter the EMI.

EMI calculation Formula

E = P*r*(1+r)^n/((1+r)^n-1)

Here, E is EMI, P is the principal loan amount, r is the rate of interest calculated monthly, and n is the tenure/ duration in months

Let us say, loan amount = 100000 , r = 14%, duration, tenure =2 years

now, EMI = 100000* 0.01167* (1+0.01167) 60/[(1+0.01167)^60] -1 which is Rs. 2.327

Note: The rate of interest (R) is calculated every month.

(R= Annual rate of interest/12/100)

How to apply for 1 Lakh Rupee Personal Loan

After comparing interest rates in banks, Find the website of the banks. Every such site will have an option to apply for a personal loan.

Step 1: Click on Apply and get the personal loan application form.

Step 2: Type your phone number and wait till you receive OTP.

Step 3: Once the OTP is received, fill in the basic application details like name, Date of Birth, PIN code, etc

Step 4: Visit the loan selection page and check the variants

Step 5: Enter 100000 as the loan amount

Step 6: Select tenure options(6 months to 96 months)

Step 7: Fill in your KYC details and click Submit.

After the submission, you can contact the respective bank for the rest of the clarification. Once all documents are verified, the loan will be transferred to you.


Can I get a ₹1 Lakh loan without collateral?

Yes, you can get a ₹1 Lakh loan without collateral, depending on your creditworthiness and the lender's policies. If your credit score meets the eligibility, it will increase your loan approval possibilities with an easy EMI schedule.

How can I get a ₹1 Lakh personal loan without documents?

If you're considering applying for a personal loan, lenders usually prefer documents for verification. However, you can prefer online lending platforms which provide you a loan with minimal documentation without visiting a lender. You will get this accessibility by being a long term patron in a financial institution, having a high credit score and so on.

Do I need collateral to get a ₹1 Lakh loan? Where Can I Get A Loan Of ₹1 Lakh?

You don't need collateral for a ₹1 Lakh personal loan. You can get such loans from online lenders, banks, credit unions based on the eligibility and required documentation.

PL Tips & Guide

Things to consider before using a personal loan for home loan down paymentThings to consider before using a personal loan for home loan down payment
Banks issue only up to 90% of the property value as home loan and the remaining 10%, plus additional expenses, has to be borne by the buyer. Will a personal loan help to bridge this gap?
Sunita Mishra13 Mar '23
Using a personal loan to clear overdue payments: All you need to knowUsing a personal loan to clear overdue payments: All you need to know
If you are applying for a personal loan, it is important to understand overdue payments and how a personal loan can be used to clear overdue payments.
Housing News Desk07 Jun '22
Home loan vs personal loan: Which one should you choose?Home loan vs personal loan: Which one should you choose?
Consumers are shifting to personal loans increasingly, because banks are becoming more generous with them. What works best for you in the long run? Let us find out
Housing News Desk18 Oct '21


What is the minimum CIBIL score required for personal loan?What is the minimum CIBIL score required for personal loan?
A good CIBIL score allows the borrower to get advantages in terms of interest rates and other benefits.
Geethapriya Srinivasan26 Mar '24
How to get a loan for pensioners?How to get a loan for pensioners?
Loans for pensioners act as a safety net for people on pension.
Geethapriya Srinivasan23 Mar '24
How to read personal loan statement of account?How to read personal loan statement of account?
SOA for borrowers helps them manage their repayments effectively.
Geethapriya Srinivasan20 Mar '24
How to get a personal loan without bank statements?How to get a personal loan without bank statements?
One may be subjected to certain extra conditions to receive a personal loan without bank statements.
Geethapriya Srinivasan17 Mar '24
What is the maximum personal loan amount I can get on my salary?What is the maximum personal loan amount I can get on my salary?
Understanding eligibility for personal loans helps borrowers to increase the amount to be borrowed.
Geethapriya Srinivasan13 Mar '24
What is the meaning of payday loans?What is the meaning of payday loans?
Payday loans allow easy access to funds.
Geethapriya Srinivasan10 Mar '24


Down Payment

I had been saving up for years to buy my dream home, but I fell short on the down payment.'s personal loan was a lifesaver, providing the extra cash I needed to close the deal and move into my forever home.

Amit S

from Hyderabad

Home Renovation

I needed to make some major updates to my rental property.'s personal loan gave me the funds I needed to make the necessary repairs and increase the value of my property.

Kavita M

from New Delhi

Medical Loan

I needed a personal loan to cover unexpected medical expenses, and came through with competitive rates and fast approval. I'm so grateful for their support during a tough time.

Vaibhav N

from Gurgaon

Wedding Loan

My wedding was just around the corner, and I needed some extra cash to cover the expenses. gave me the flexibility I needed to make my dream wedding a reality.

Rohit S

from Bangalore

Help & Support

Still have questions? Reach us now.

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