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

Calculator

Calculator

FAQs

FAQs

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Rs. 40,000 - Rs. 55 lakh

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

Key takeaways

 
 

A Rs. 1 lakh personal loan can be applied for online with a simple digital process using mobile number and OTP. Eligible applicants can receive quick approval and fast disbursal, making it suitable for urgent financial needs.


  • Loan amount: Rs. 40,000 to Rs. 55 lakh.
  • Interest rate: 10% to 30.5% p.a.
  • Repayment tenure: 12 months to 108 MONTHS.
  • Processing fee: Up to 4.13%  of the loan amount, inclusive of applicable taxes.
  • Eligibility: CIBIL Score of 650 or higher, subject to other criteria.
     

A Rs. 1 lakh personal loan helps manage unexpected expenses without visiting a branch.

Get a personal loan for Rs. 1 lakh instantly

A Rs. 1 lakh personal loan is a quick, collateral-free financing option for planned and unexpected expenses such as medical emergencies, travel, education, or home renovation. It can provide access to funds without pledging an asset, subject to eligibility and applicable terms.


Bajaj Finance offers a digital application process with quick approval and minimal documentation for eligible applicants. Explore a personal loan to understand available borrowing options.

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Features and Benefits of Rs. 1 lakh personal loan

  • High loan amount

    Manage both small and large expenses with quick personal loans ranging from Rs. 40,000 to Rs. 55 lakh—perfect for business investments, property purchases, or major life events.

  • Flexi loans

    Make multiple withdrawals from a dropline limit and pay interest only on the withdrawn funds, with our Flexi loans.

  • Pre-approved offers

    You can check if you have a pre-approved offer for a personal loan with just your phone number and OTP – no need to visit the branch.

  • Convenient repayment tenures

    Manage your loan easily with flexible repayment options ranging from 12 months to 108 MONTHS, allowing you to choose EMIs that fit your income cycle and budget.

  • Quick approval

    Complete your entire personal loan application online from the comfort of your home or office and get an instant personal loan with lightning-fast approval.

  • Money in account within 24 hours*

    Your bank account will be credited with your loan amount within 24 hours* of approval, or in some cases, on the same day—ideal for urgent business or personal needs.

  • Complete transparency - no hidden charges

    Our fees and charges are mentioned clearly on this page and in all loan documents. We maintain complete transparency, allowing you to make informed financial decisions.

  • No guarantor or collateral needed

    You don't need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor—completely unsecured financing.

*Terms and conditions apply.
 

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Why choose a Rs. 1 lakh personal loan from Bajaj Finance?

Choosing a Rs. 1 lakh personal loan from Bajaj Finance can provide a structured borrowing experience with clear processes and support throughout the loan journey.


  • Simple loan management: Keep track of repayment details and loan information through convenient digital services.
  • Transparent charges: Review applicable fees and charges before accepting the loan offer.
  • Easy account access: Access important loan-related information through digital platforms.
  • Dedicated support: Get assistance with queries related to your loan and repayment.
  • Convenient digital journey: Manage key stages of borrowing online, reducing the need for branch visits.
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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 our 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
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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

Who is eligible for Rs. 1 lakh loan?

Any individual who meets the eligibility criteria set by the lender can avail of a Rs. 1 lakh personal loan. Borrowers can qualify for a Bajaj Finance Personal Loan by meeting these five simple eligibility criteria mentioned below:

  • 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.

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

There is no single minimum salary requirement stated for a Rs. 1 lakh personal loan, as eligibility depends on factors such as income, employment profile, age, and CIBIL Score. Check the personal loan eligibility criteria for the applicable requirements before applying.

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.

The interest rate for a Bajaj Finance Personal Loan ranges from 10% to 30.5%.

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.
 

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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