A personal loan of Rs. 1 lakh can help you manage unexpected expenses such as medical bills, repairs, education expense or travel related expenses. You can apply online for a personal loan and get instant disbursal within 24 hours* with approval in just 5 minutes. You are not required to give any asset or security as collateral to apply for personal loan. Bajaj Finserv Personal Loan of Rs. 1 lakh can be the perfect solution for managing short term unexpected expenses. You can choose flexible repayment options and easily calculate your Rs. 1 lakh personal loan EMI to plan better.

Why Choose a Rs. 1 lakh loan?

A Rs. 1 lakh loan is a smart way to handle unexpected emergencies needs like medical bills, travel, or urgent repairs. You can apply online with just a few documents and receive funds within 24 hours*.

For example, EMI of Rs. 1 lakh personal loan with a 2-year term at 10%, your EMI would be around Rs. 4,614. Use an EMI calculator to plan your repayment that suits your budget..

If you want a personal loan with low EMI, a Rs. 1 lakh loan provides flexibility, fast processing, and easy repayment, making it a dependable option for urgent cash needs.

Eligibility criteria of personal loan for Rs. 1 lakh

Meeting the eligibility criteria is essential for loan approval. To secure a Rs. 1 lakh instant loan, maintain a good credit score and stable income. Use a personal loan eligibility calculator to check eligibility instantly.

• Nationality: Indian
• Age: 21 years to 80 years.
• Employed with: Public, private, or MNC.
• CIBIL Score: 685 or higher.
• Customer profile: Self-employed or Salaried 

*You should be 80 years or younger, at the end of the loan tenure. 

Documents required for personal loan for Rs. 1 lakh

Check the complete list of personal loan documents required to apply for Rs. 1 lakh personal loan hassle-free:

• KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
• PAN card
• Employee ID card
• Salary slips of the last 3 months
• Bank account statements of the previous 3 months
• Piped gas bill
• Pension order
• Letter of Allotment of Accommodation Issued by Employer
• Property / Municipal tax receipt
• Utility bill
• Real-time image / photograph
• Ration card

Personal loan interest rates for Rs. 1 Lakh

When applying for a Rs. 1 lakh personal loan, it’s important to understand the interest rates and charges involved. Most lenders offer interest rates between 10% to 31% p.a., depending on your credit score, income, and loan tenure. For example, the Bajaj Finserv Personal Loan interest rate on Rs. 1 lakh typically starts around 10% p.a. for eligible borrowers with a strong credit history. Always check the processing fee, foreclosure charges, and other costs to calculate the total expense. If you're planning to take a Rs. 1 lakh loan online, use an EMI calculator to estimate your monthly repayment accurately.

Rs. 1 lakh personal loan EMI for 1 year

If you opt for a 1 lakh loan monthly EMI for a 1-year tenure, you will pay fixed monthly instalments at a 10% interest rate. A shorter tenure means higher EMIs but lower overall interest costs. Use a personal loan EMI calculator to estimate your repayments.

Rs. 1 lakh personal loan EMI for 3 years

A 1 lakh personal loan EMI for 3 years provides affordable monthly payments, making it easier to manage your finances. With a 10% interest rate, this option balances affordability and total interest costs. Check your EMIs using a personal loan EMI calculator.

Rs. 1 lakh personal loan EMI for 5 years

Choosing a 1 lakh personal loan EMI for 5 years ensures lower monthly payments, making repayment more convenient. While the overall interest paid is higher, the reduced EMI makes budgeting easier. Calculate your EMI with a personal loan EMI calculator.

How to apply for a personal loan of Rs. 1 lakh?

Step-by-step guide to apply for a personal loan

1. Click on ‘APPLY’ at the top of this page to open our online personal loan application form.

2. Enter your 10-digit mobile number and the OTP sent to your phone.

3. Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.

4. Now, click on ‘PROCEED’ to visit the loan selection page.

5. Enter the loan amount that you need. Choose from our three personal loan variants – Term, Flexi Term, and Flexi Hybrid Term Loan.

6. Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.

7. Complete your KYC and submit your application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents

A Rs. 1 lakh loan offers quick funds for unexpected or planned expenses, with flexible repayment options up to 96 months. Here are some common uses:

Travel expenses: A personal loan for travel covers flight tickets, stays, and other costs, making vacations stress-free.

Marriage expenses: A personal loan for wedding helps manage venue, décor, and other wedding expenses effortlessly.

Education expenses: A personal loan for higher education funds tuition, books, and living expenses for uninterrupted learning.

Home renovation: A personal loan for home expenses supports home upgrades, repairs, and interior improvements.

Medical emergency: A personal loan for medical emergency covers treatment costs, ensuring timely medical care.

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