Personal loans emerge as an ideal choice for individuals in need of quick access to finances. This financial alternative offers a one-time lump sum that can be repaid within a predetermined timeframe. Lenders typically evaluate your qualification for a personal loan by considering factors such as your credit score, employment track record, and income. The funds obtained through a personal loan can be utilised for various purposes, including covering medical emergencies, education expenses, home renovations, and more.
How to get a personal loan of Rs. 10 lakh for 6 years?
Bajaj Finance offers a high-value personal loan with minimal eligibility requirements and a flexible repayment tenure of up to 96 months. You can easily apply for a loan of Rs. 10 lakh and repay it comfortably over 6 years by submitting the required documents and meeting the basic criteria.
Eligibility criteria for a Rs. 10 lakh personal loan
To apply for a personal loan up to Rs. 10 lakh, it’s essential to meet the basic criteria set by lenders. If you're considering a Bajaj Finance Personal Loan, the Rs. 10 lakhs personal loan eligibility is simple and hassle-free, making it easier to access the required funds quickly.
- Nationality: India
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 685 or higher.
- Monthly salary: Starting Rs. 25,001, based on the city you live in.
*You should be 80 years* or younger, at the end of the loan tenure.
Documents required for Rs. 10 lakh personal loan for 6 years
It is important to keep the required documents handy to avoid any rejections. The personal loan document requirement might differ from lender to lender. Bajaj Finance Personal Loan comes with minimal documents. All you have to do is submit these documents.
- 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
- Utility bill of electricity and piped gas
How to calculate EMIs for a personal loan of Rs. 10 lakh for tenure of 6 years
Figuring out your monthly payments for a personal loan manually can be tricky, especially with all the numbers involved. However, using an online personal loan EMI calculator simplifies calculations and helps you evaluate your monthly payments in just a few clicks. Simply enter the loan amount, interest rate, and repayment period. The EMI amount appears instantly, saving you time and ensuring accuracy. This way, you can easily plan your finances and budget effectively, knowing exactly what you need to repay each month. You can use the personal loan EMI calculator available on our website and get instant results.
Interest rate for Rs. 10 lakh personal loan for 6 Years
The personal loan interest rate for a Rs. 10 lakh loan depends on your credit profile and the lender’s terms. To know the exact Rs. 10 lakhs interest per month you’ll pay, review the detailed rates and charges. This information will help you plan your EMIs comfortably over a 6-year period.
How to apply for a personal loan of Rs. 10 lakh for 6 years
Bajaj Finance Limited offers funds that come with a simple online personal loan application process. If you are looking to apply for a Rs. 10 lakh personal loan for 6 years, follow these simple steps:
- Go to the personal loan page and select 'APPLY.'
- Enter your 10-digit mobile number and submit the OTP for verification.
- Fill in the application form by providing your basic details.
- Click on 'PROCEED' to move to the loan selection page.
- Mention the desired loan amount and select from the available personal loan variants – Term, Flexi Term, and Flexi Hybrid.
- Select your preferred repayment tenure from the range of options -12 months to 96 months and proceed by clicking 'PROCEED.'
- Complete the KYC requirements and submit your application.
With its quick and easy application process and immediate disbursement, Bajaj Finance Limited provides quick access to funds. Submit the required documents and get the funds you need within 24 hours* of approval.
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