Personal loan of Rs. 1 Lakh

Personal loan of Rs. 1 Lakh

A personal loan of Rs. 1 lakh allows quick online application with phone and OTP, offering instant approval for eligible users, fast disbursal, and minimal documentation without visiting a branch.
Loan Types

Loan Types

FAQs

FAQs

Video

Video

Rs. 40,000 - Rs. 55 lakh

Calculate your EMIs

You may be eligible for a pre-approved offer

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Enter mobile and OTP | Check offer | No branch visit needed

 
 

Key takeaways

A personal loan of Rs. 1 lakh can be applied for online, subject to eligibility and applicable terms.


  • Loan amount: A personal loan of Rs. 1 lakh can be used to meet planned or unexpected expenses. A Bajaj Finance Personal Loan gives you funds from Rs. 40,000 to Rs. 55 lakh
  • Interest rate and tenure: Interest rates range from 10% and 30.5% % p.a., with repayment tenures of 12 months to 108 months.
  • Eligibility: You need a CIBIL Score of 650 or higher and must meet other applicable eligibility criteria. Check your eligibility for personal loan using just mobile number and OTP – 100% online process.
  • Online application: You can apply online using your mobile number and OTP and complete the required verification digitally.
  • Disbursal: After approval and verification, the sanctioned loan amount can be disbursed to your bank account, subject to applicable terms.

A Rs. 1 lakh personal loan can help you manage planned or unexpected expenses through structured monthly repayments. 

Features and Benefits of Rs. 1 lakh personal loan

FeatureDetails
High loan amountYou can apply for a personal loan ranging from Rs. 40,000 to Rs. 55 lakh to meet expenses such as business investments, property purchases or major life events, subject to eligibility.
Flexi loansYou can make multiple withdrawals from a Flexi Dropline Loan limit and pay interest on the amount withdrawn. Learn more about Flexi loans.
Pre-approved offersYou can check whether you have a pre-approved personal loan offer using your mobile number and OTP, without visiting a branch.
Convenient repayment tenuresYou can choose a repayment tenure ranging from 12 months to 108 months, subject to the loan terms, to manage your monthly EMIs.
Online application and approvalYou can complete your personal loan application online. Approval is subject to eligibility and verification. Explore the instant personal loan option.
Disbursal within 24 hours*The loan amount may be credited to your bank account within 24 hours* of approval, subject to verification and applicable terms.
Transparent fees and chargesYou can review the applicable fees and charges on the website and in your loan documents before proceeding with the loan.
No guarantor or collateral requiredYou do not need to provide collateral, such as property or gold, or arrange for a guarantor for this unsecured personal loan.
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Why choose a Rs. 1 lakh personal loan from Bajaj Finance?

A Rs. 1 lakh Personal Loan from Bajaj Finance can help you manage planned or unexpected expenses through a digital application process. You can review the loan offer, understand the repayment terms and access loan-related information through available digital services.


  • Simple loan management: You can access your loan details and repayment information through digital account services.
  • Clear fee details: You can review applicable processing fees and other charges before accepting your loan offer.
  • Convenient account access: You can check relevant loan information through available online services.
  • Customer support: You can seek assistance with loan-related queries and repayment information through the available support channels.
  • Digital application process: You can complete key application steps online, subject to the process applicable to your application.

Before choosing a Rs. 1 lakh personal loan, compare the interest rate, EMI, repayment tenure and applicable charges to assess whether the borrowing fits your budget. Approval and loan terms depend on eligibility, verification and the applicable conditions.

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Personal loan vs credit card for Rs. 1 lakh

If you need Rs. 1 lakh, your choice between a personal loan and a credit card depends on how quickly you can repay the amount and the cost of borrowing. A personal loan offers fixed EMIs, while credit card costs depend on the outstanding balance and repayment pattern.


FactorPersonal loanCredit card
Interest rate16% to 30.5% p.a.Interest may apply to unpaid balances carried beyond the payment due date, depending on the card terms.
CollateralGenerally unsecured; no collateral requiredNo collateral required
RepaymentFixed EMIs over a selected tenureFlexible payments; unpaid balances may accrue interest
SuitabilityLarge expenses repaid over several monthsPurchases repaid in full by the due date
Credit score impactTimely EMIs can support your credit profileHigh utilisation or missed payments can affect your score

Which option may suit you?

  • Choose a personal loan when you need structured repayments over several months.
  • Consider a credit card if you can repay the full bill by the due date.
  • Compare interest rates, fees and total repayment costs.
  • Avoid relying only on minimum credit card payments.
  • Check eligibility and terms before choosing a Rs. 1 lakh personal loan.
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Real example — how a Rs. 1 lakh personal loan covered a medical bill

Suppose you need Rs. 1 lakh to meet a medical expense and choose a personal loan at 10% p.a. for 24 months. Your estimated repayment may look like this:


Loan detailExample
Loan amountRs. 1,00,000
Interest rate10% p.a.
Tenure24 months
Monthly EMIRs. 4,615
Total interestApprox. Rs. 10,748
Total repaymentApprox. Rs. 1,10,748

If you choose a longer tenure, your EMI may decrease, but the total interest can increase. For example, a 48-month tenure may reduce the EMI while increasing the overall repayment cost.

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Eligibility criteria of personal loan for Rs. 1 lakh

Meeting eligibility criteria is important for approval of a Rs. 1 lakh instant loan. Maintaining a good credit score, stable income, and accurate documentation improves approval chances. A personal loan eligibility calculator helps check eligibility quickly before applying.


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.

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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:


Document TypeAccepted Documents
Identity ProofAadhaar / Passport / Voter’s ID / Driving Licence / Letter of National Population Register / NREGA Job Card
PAN ProofPAN Card
Employment ProofEmployee ID Card
Income ProofSalary slips of last 3 months
Bank ProofBank account statements of previous 3 months
Address ProofPiped gas bill / Property or municipal tax receipt / Utility bill / Phone bill
Additional DocumentsPension order / Letter of Allotment of Accommodation issued by employer
Other VerificationRation card / Real-time photograph

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

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Personal loan interest rates for Rs. 1 Lakh

The interest rate on a Rs. 1 lakh personal loan can vary based on factors such as the lender, borrower’s CIBIL score, income, repayment history, loan tenure, and overall credit profile. Along with the interest rate, borrowers should review applicable fees and charges before applying. The table below highlights some common charges associated with a personal loan. For the complete schedule of charges, please refer to the existing personal loan interest rates, fees and charges page.


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How much EMI will you pay for a Rs. 1 lakh personal loan?

The EMI for a Rs. 1 lakh loan depends on the repayment tenure and interest rate. At 10% p.a., the EMI is Rs. 8,792 for 1 year, Rs. 3,226 for 3 years, and Rs. 2,125 for 5 years.


Loan tenureInterest rateEMI amountTotal interestTotal paymentBest For
12 Months10%Rs. 8,792Rs. 5,502Rs. 1,05,502Faster repayment
36 Months10%Rs. 3,226Rs. 16,136Rs. 1,16,136Balanced repayment
60 Months10%Rs. 2,125Rs. 27,481Rs. 1,27,481Lower monthly EMI

A longer tenure lowers the EMI but increases total interest paid, so choose a repayment period that suits your budget and repayment capacity.

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How to apply for personal loan for Rs. 1 lakh

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

  1. Check loan eligibility – Visit personal loan page, enter the loan amount you need, select the repayment period, and click on "CHECK LOAN OFFER" to check your loan eligibility.
  2. Enter personal details – Provide your personal, financial, and employment details to receive a personalised loan offer.
  3. Review your loan offer – Check your offer details and adjust the loan amount or repayment tenure, if required.
  4. Complete KYC verification – Verify your identity and bank details to proceed with your application.
  5. Speak to a loan specialist – Once your application is submitted, an executive will contact you with the next steps.

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

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What can you use Rs. 1 lakh personal loan for?

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



Get personal loan of different amounts :

 

40,000 Personal Loan50,000 Personal Loan2 Lakh Personal Loan
3 Lakh Personal Loan4 Lakh Personal Loan5 Lakh Personal Loan
6 Lakh Personal Loan7 Lakh Personal Loan8 Lakh Personal Loan
9 Lakh Personal Loan10 Lakh Personal Loan12 Lakh Personal Loan
15 Lakh Personal Loan20 Lakh Personal Loan25 Lakh Personal Loan
30 Lakh Personal Loan35 Lakh Personal Loan40 Lakh Personal Loan

Get personal loan in your city:


 

Personal loan in DelhiPersonal loan in MumbaiPersonal loan in PunePersonal loan in Hyderabad
Personal loan in KolkataPersonal loan in JaipurPersonal loan in NoidaPersonal loan in Chennai
Personal loan in BangalorePersonal loan in AhmedabadPersonal loan in ChandigarhPersonal loan in Lucknow

 

Get personal loan based on salary 


Personal loan for Rs. 26,000 salaryPersonal loan for Rs. 30,000 salaryPersonal loan for Rs. 40,000 salaryPersonal loan for Rs. 50,000 salary
Personal loan for Rs. 60,000 salaryPersonal loan for Rs. 70,000 salaryPersonal loan for Rs. 90,000 salaryPersonal loan for Rs. 100000 salary

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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.

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.

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Frequently asked questions

Overview

Application

Charges

What credit score do I need for an instant Rs. 1 lakh loan?

To avail a loan up to Rs. 1 lakh, you need a CIBIL Score of 650 or above to apply.

The minimum salary required for a Rs. 1 lakh personal loan from Bajaj Finance varies by city. Applicants must meet the applicable income criteria, along with other eligibility requirements such as age, employment profile and CIBIL Score. Check the personal loan eligibility criteria for the applicable requirements before applying.

A Rs. 1 lakh loan may be foreclosed early, but avoiding a penalty depends on the loan terms and applicable charges. For a Bajaj Finance Personal Loan, foreclosure charges may apply, depending on the loan type and repayment stage. The borrower should check the Key Fact Statement (KFS) and loan agreement before making an early repayment.

Yes, personal loans are unsecured, meaning you don’t need to provide collateral. Approval is based on your income, credit score, and lender’s eligibility criteria.

A Rs. 1 lakh personal loan can have a repayment tenure ranging from 12 months to 108 months, subject to eligibility and applicable terms. Choosing the right tenure can help manage your monthly EMI. Check the personal loan eligibility criteria for more details.

Yes, eligible applicants can get quick approval and fast disbursal when applying online for a Rs. 1 lakh personal loan with complete and verified documents. To avoid delays, make sure you have all the necessary documents ready when applying for a Rs. 1 lakh personal loan.

You can secure an instant Rs. 1 lakh loan online by applying through digital lenders or banks with minimal documentation. Quick eligibility checks and fast verification processes often enable disbursal within 24 hours* for a loan up to Rs. 1 lakh.


The Bajaj Finance Personal Loan can be disbursed within  24 hours* of approval.


*Terms and conditions apply.

You need to submit income proof to get a Rs. 1 lakh loan.

Yes, you can avail of a Rs. 1 lakh loan without a salary slip if the lender accepts alternative income proofs such as bank statements, income tax returns (ITRs), or by having a guarantor, while meeting the lender’s eligibility criteria.

Bajaj Finance maintains 100% transparency and does not levy any hidden charges on personal loans terms and conditions to know more.

The fastest way to repay a loan is by choosing shorter tenures, paying higher EMIs, and making part-prepayments whenever possible. This reduces interest costs and helps close the loan earlier.
 

A Rs. 1 lakh personal loan may cost less than credit card borrowing, depending on the interest rate, fees and repayment period. Compare the annual interest rate, processing fees and total repayment amount before choosing between the two options.

A Rs. 1 lakh personal loan does not offer a tax benefit by default. Interest may qualify for tax deductions when the loan is used for eligible purposes, such as purchasing or renovating a house, subject to applicable tax rules and conditions.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000