Rs. 10 Lakh Personal Loan: Interest Rate, EMI, Eligibility and Documents

Rs. 10 Lakh Personal Loan: Interest Rate, EMI, Eligibility and Documents

A Rs. 10 lakh personal loan can help you fund planned or unexpected expenses such as education, medical treatment, home renovation, travel or a wedding, subject to eligibility and applicable terms.
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Rs. 40,000 - Rs. 55 lakh

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Last reviewed: September 2026


Key takeaways

A Rs. 10 lakh personal loan gives you access to a fixed loan amount that you repay through EMIs over a selected tenure. The applicable interest rate and loan terms depend on your eligibility and profile.


  • Loan amount: Rs. 40,000 to Rs. 55 lakh
  • Interest rate: 10% and 30.5% p.a., subject to applicable terms
  • Repayment tenure: 12 months to 108 months
  • Minimum CIBIL Score: 650 or higher
  • Loan type: Unsecured, with no collateral required
  • Customer profile: Salaried or self-employed
  • Processing fee: Up to 4.13% of the loan amount, inclusive of applicable taxes
  • Disbursal: Eligible customers can receive funds within 24 hours* of approval, subject to applicable terms and verification

Before applying, calculate the EMI and total repayment for your preferred tenure. Also review the applicable interest rate, processing fee and other charges.

How can you get a Rs. 10 lakh personal loan online?

You can apply for a Rs. 10 lakh personal loan online by checking your eligibility, entering your personal and financial details, selecting the loan amount and tenure, completing KYC and submitting the application.


With Bajaj Finance, you can check your loan offer using your mobile number and OTP. The online application process does not require a branch visit.


The current personal loan range is Rs. 40,000 to Rs. 55 lakh, so Rs. 10 lakh falls within the available loan range, subject to your eligibility.


✅  Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within 24 hours*.

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Why consider a Rs. 10 lakh personal loan from Bajaj Finance?

A Rs. 10 lakh personal loan can help you manage a sizeable planned expense without pledging an asset as security. You can use the funds for eligible personal requirements, subject to the applicable terms.


Bajaj Finance offers personal loans from Rs. 40,000 to Rs. 55 lakh, with repayment tenures from 12 months to 108 months and interest rates from 10% and 30.5% p.a.


You can choose the loan amount and repayment period based on your requirement and repayment capacity.

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What are the features of a Rs. 10 lakh personal loan?

FeatureDetails
Loan amountRs. 40,000 to Rs. 55 lakh
Interest rate10% and 30.5% p.a.
Tenure12 months to 108 months
Minimum CIBIL Score650 or higher
Customer profileSalaried or self-employed
EmploymentPublic, private or MNC
CollateralNot required
Processing feeUp to 4.13% of the loan amount, inclusive of applicable taxes
DisbursalWithin 24 hours* of approval for eligible customers, subject to applicable terms

These are the current stated product parameters. Your final loan terms depend on your eligibility, verification and applicable conditions.

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What are the eligibility criteria for a Rs. 10 lakh personal loan?

  • Eligibility criteria

    o apply for a Rs. 10 lakh personal loan from Bajaj Finance, you need to meet the applicable eligibility criteria.

    NationalityIndian
    Age21 years to 80 years
    Employed withPublic, private, or MNC.
    CIBIL Score650 or higher.
    Customer profileSelf-employed or Salaried

    You should be 80 years or younger at the end of the loan tenure. Approval remains subject to verification and applicable terms.


    Meeting the stated criteria does not by itself guarantee approval. Your income, existing obligations, credit profile, requested amount and repayment capacity can also form part of the assessment.

  • Documents required

    Documentation requirements for a Bajaj Finance Personal Loan are minimal. Five document categories are required at the time of application:


    Document CategoryAccepted Options
    KYC proofAadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
    Identity proofPAN card, Real-time image / photograph
    Employment proofEmployee ID card, Letter of Allotment of Accommodation Issued by Employer
    Income proofSalary slips — last 3 months, Bank account statements — last 3 months
    OthersPension order, Utility bill, Phone bill, Piped gas bill, Property / Municipal tax receipt


     

    Know more about the personal loan documents required during application.

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What is the EMI for a Rs. 10 lakh personal loan?

The EMI for a Rs. 10 lakh personal loan depends on the interest rate and repayment tenure. A longer tenure reduces the monthly EMI but increases the total interest payable.


For example, at an illustrative interest rate of 10% p.a., the estimated EMI would be:


TenureApprox. EMIApprox. total repayment
1 yearRs. 87,916Rs. 10,54,992
2 yearsRs. 46,146Rs. 11,07,504
3 yearsRs. 32,267Rs. 11,61,612
4 yearsRs. 25,364Rs. 12,17,472
5 yearsRs. 21,247Rs. 12,74,820
6 yearsRs. 18,526Rs. 13,33,872

EMIs and total repayment are indicative calculations at 10% p.a. They exclude applicable fees and charges. Your actual EMI depends on the interest rate and tenure offered to you.


Use a personal loan EMI calculator to compare different loan amounts, interest rates and repayment periods before applying.

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What can you use a Rs. 10 lakh personal loan for?

You can use a personal loan for many personal expenses, such as medical costs, education, home improvements, weddings, travel, and other planned or unexpected needs. As it is generally an unsecured loan, you do not need to provide collateral.


Common uses include:

  • Medical expenses: Pay for treatment, procedures or other healthcare costs.
  • Education: Cover tuition fees, course costs or other education-related expenses.
  • Home renovation: Fund repairs, painting, furniture or other home improvements.
  • Wedding expenses: Manage venue, catering, clothing, jewellery or other wedding costs.
  • Travel: Pay for flights, accommodation, activities and other trip expenses.
  • Emergency expenses: Meet unexpected costs when available savings are not sufficient.
  • Large purchases: Fund certain personal purchases without pledging an asset as security.

With a Bajaj Finance Personal Loan, the loan amount ranges from Rs. 40,000 to Rs. 55 lakh, with tenure ranging from 12 months to 108 months and interest rates from 10% and 30.5% per annum, subject to eligibility and applicable terms. No collateral is required.

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How do you apply for a Rs. 10 lakh personal loan online?

You can apply online by completing the following steps:


  1. Check your loan offer: Enter your mobile number and verify it using OTP.
  2. Enter your details: Provide your personal, employment and financial information.
  3. Select Rs. 10 lakh: Choose the required loan amount and repayment tenure.
  4. Review the offer: Check the applicable interest rate, EMI and charges.
  5. Complete KYC: Verify your identity and bank details.
  6. Submit the application: Complete the required formalities and wait for the applicable verification and approval process.

Bajaj Finance currently describes its personal loan application as a five-step online process covering eligibility, personal details, loan offer, KYC and interaction with a 

loan specialist.

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How can you choose the right tenure for a Rs. 10 lakh loan?

Choose the tenure by comparing the monthly EMI with your income and the total interest payable.


A shorter tenure generally means a higher EMI but lower total interest over the loan period. A longer tenure reduces the monthly EMI but increases the total interest payable.


For example, at the same 10% illustrative rate, extending the tenure from 3 years to 6 years reduces the estimated EMI from around Rs. 32,267 to Rs. 18,526. However, the estimated total repayment increases from around Rs. 11.62 lakh to Rs. 13.34 lakh.


Choose a tenure that allows you to manage the EMI without putting pressure on your regular monthly expenses.

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What should you check before taking a Rs. 10 lakh personal loan?

Review the complete borrowing cost and your repayment capacity before accepting the loan.


  • Check the interest rate offered to you.
  • Calculate the monthly EMI.
  • Compare total repayment across different tenures.
  • Review the processing fee and other applicable charges.
  • Check prepayment and foreclosure terms.
  • Consider your existing EMIs and monthly commitments.
  • Keep an emergency reserve after taking the loan.
  • Borrow only the amount required for your planned expense.

A Rs. 10 lakh loan creates a larger repayment obligation than a smaller personal loan, so the EMI should fit within your monthly budget.

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Explore personal loan options

Also read:


Personal Loan of Rs. 10 lakh in BhatindaPersonal Loan of Rs. 10 lakh in RawatbhataPersonal Loan of Rs. 10 lakh in Bhilai
Personal Loan of Rs. 10 lakh in KolhapurPersonal Loan of Rs. 10 lakh in VaranasiPersonal Loan of Rs. 10 lakh in Indore
Personal Loan of Rs. 10 lakh in KathuaPersonal Loan of Rs. 10 lakh in KollamPersonal Loan of Rs. 10 lakh in Abohar
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Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30.5% p.a.

Processing fees

Up to 4.13% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

Credit guarantee scheme feeUp to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount
Credit guarantee scheme renewal feeUp to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year.
*Renewal Fee to be collected only for 3 subsequent financial years.
 
**If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated.

Key offerings: 3 loan types

  • Flexi Hybrid Loan
  • Flexi Dropline Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.