How to get a personal loan of Rs. 10 lakh for 7 years

Sometimes you need a large amount of money. Maybe your home needs major renovations, you're facing an unexpected medical emergency, or you want to pursue higher education abroad. In situations like this, a personal loan can help. But borrowing a big amount like Rs. 10 lakh is a serious decision. That's why careful planning and understanding the process are really important. 

✅  Ready to get a Rs. 10 lakh personal loan? 

Check your eligibility for personal loan with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

Getting a Rs. 10 lakh personal loan for 7 years from Bajaj Finance is straightforward. Bajaj Finance offers high value personal loans with simple eligibility requirements. To get a Rs. 10 lakh loan, you just need to meet the eligibility criteria and submit the required documents. That's it. The process is designed to be quick and hassle-free, so you can get the money you need without complicated paperwork. Use the personal loan eligibility calculator to check how much you can borrow.

One of the best things about a personal loan is that you can use it for almost anything. A Rs. 10 lakh loan spread over 7 years means your monthly payment (EMI) will be manageable. Here are the most common ways people use a Rs. 10 lakh loan:

• Home renovation: Upgrade your home with modern interiors, essential repairs, or extensions. With a 7-year tenure, your monthly payment will be small enough to manage while you improve your property's value.
• Higher education: Pay for tuition fees, study materials, and living expenses for higher education in India or abroad. A long-term repayment plan makes quality education accessible without financial stress.
• Medical emergencies: Cover unexpected hospital bills, treatments, and post-care expenses. Bajaj Finance approves and disburses money quickly so you can get the funds immediately when you need them most.
• Debt consolidation: Pay off existing loans or credit card debts with one single loan. This simplifies your finances, helps you maintain a better credit score, and reduces financial stress.
• Business expansion: Invest in equipment, infrastructure, or operational costs to grow your business. A personal loan gives you flexible financing without requiring you to pledge any assets as collateral.

• Nationality: Indian
• Age: 21 years to 80 years.
• Employed with: Public, private, or MNC.
• CIBIL Score: 650 or higher.
• Customer profile: Self-employed or Salaried

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

When applying for a personal loan, make sure to have all of the relevant documentation ready to guarantee a smooth personal loan process. Bajaj Finance Personal Loan requires you to submit the following basic 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
• Piped gas bill
• Pension order
• Letter of Allotment of Accommodation Issued by Employer
• Property / Municipal tax receipt
• Utility bill
• Phone bill
• Real-time image / photograph
• Ration card

Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Calculating your EMI manually is complicated and error-prone. Instead, use an online EMI calculator – it's fast, accurate, and free. Here's why you should use one:

• Get instant, accurate EMI amounts in seconds
• Plan your budget before applying
• Compare different interest rates and tenures

• Understand your total repayment amount

  
  

Simply enter three things into the calculator: your loan amount (Rs. 10 lakh), the interest rate, and your repayment period (7 years or 84 months). In seconds, you'll see your monthly EMI. 

1. Click on ‘CHECK ELIGIBILITY’ on this page.
2. Enter your 10-digit mobile number and the OTP sent to your phone.
3. Check if you have an offer. If not, 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 offer or loan amount that you need. Choose from our personal loan variants.
6. Choose the repayment tenure and click on ‘PROCEED’.
7. Complete your KYC and submit your application.

Our representative will contact you for further steps in your personal loan application.

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