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Did you Know ?

We offer varied Personal Loan options to help with your urgent financial needs. Get a Rs. 10 lakh loan sanctioned, with easy repayment terms and manage medical emergencies, wedding expenses, home renovation or higher education goals. A Rs. 10 lakh loan with EMIs for up to 5 years or more, offers the flexibility and ease to meet diverse needs.

Why Choose a Rs. 10 lakh Personal Loan?

A Rs. 10 lakh Personal Loan is an unsecured loan, meaning you don't need to pledge any collateral to avail of it. This feature makes it an attractive option for borrowers who may not have assets to use as security. The loan amount has zero restrictions on its usage.

  • Understanding the EMI Structure

  • When you opt for a Rs. 10 lakh Personal Loan, it's essential to understand the repayment structure. A common tenure for such loans is 5 years, offering affordable repayment with a reasonable repayment period. The Interest Rate offered on a Rs. 10 lakh Personal Loan depends on your credit profile and the lender’s policy.

  • Calculating the EMI

  • You can use online EMI Calculators to calculate the EMI amount for 5 years. This tool provides a clear picture of your monthly outflow and helps you plan your finances. For instance, if you're availing a Rs. 10 lakh Personal Loan at an interest rate of 10.75% for a tenure of 5 years, the monthly EMI would be approximately Rs. 21,618.

Eligibility Criteria, Documents Required and Interest Rates

Eligibility Criteria for a Rs. 10 lakh Personal Loan

To apply for a Rs. 10 lakh Personal Loan, you must meet specific criteria:

  • Age: Generally, applicants should be between 20 and 58 years of age
  • Employment: Salaried individuals, self-employed professionals and business owners are eligible
  • Income: A steady income but the minimum amount may vary across lenders
  • Credit Score: A low CIBIL Score may affect Personal Loan approval and securing favourable interest rates. A good credit score is crucial.


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Documents Required

The documentation process for a Rs. 10 lakh Personal Loan is usually straightforward and involves minimal paperwork. Commonly required documents include identity proof, address proof, income proof (like Salary Slips or Income Tax Returns) and Bank Statements.

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Advantages of a Rs. 10 lakh Personal Loan

Flexibility in Usage

Flexibility in Usage

The loan amount can be used for personal or professional needs without restrictions

Quick Disbursal

Quick Disbursal

Once approved, the loan amount is quickly disbursed to your Account, often within a few days

No Collateral Required

No Collateral Required

Being an unsecured loan, it does not require any collateral or security

Competitive Interest Rates

Competitive Interest Rates

You can negotiate for lower interest rates with a good credit score

Easy Application Process

Easy Application Process

Most lenders offer an online application process for convenience.


Tips for Managing Your Rs. 10 lakh Personal Loan

  • Plan your Finances: Before applying, assess your repayment capacity. Use EMI Calculators to understand your monthly outflow
  • Maintain a Good Credit Score: A high credit score can fetch a lower interest rate.
  • Read the Terms and Conditions: Understand all the terms, including prepayment charges and processing fees
  • Choose the Right Lender: Compare offers from different lenders to find the best interest rates and terms.