Get a ₹1 Lakh personal loan at interest rates starting from just 9.99% p.a.
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A personal loan of ₹1 Lakh can help when you need funds urgently. Some features of the ₹1 Lakh loan include its simple eligibility criteria and low interest rates starting from just 9.99% p.a. Furthermore, the flexible loan tenure that ranges up to 96 months enables you to repay the loan at your convenience. So, if you want instant ₹1 Lakh personal loan on Bajaj Markets, the process is simple and quick if your documents are in place and you fulfil the eligibility criteria.
The details of some lenders that offer personal loans of ₹1 Lakh are as follows:
Lenders |
Starting Interest Rates |
Bajaj Finance |
10% p.a. |
CASHe |
2.79% p.m. |
Federal Bank |
11% p.a. |
Fibe |
14% p.a. |
Finnable |
15.95% p.a. |
IIFL Finance |
16.50% p.a. |
InCred |
16% p.a. |
Kissht |
14% p.a. |
Kotak Mahindra Bank |
10.99% p.a. |
KreditBee |
15% p.a. |
L&T Finance |
12% p.a. |
moneyview |
15.96% p.a. |
Muthoot Finance |
14.50% p.a. |
Olyv |
18% p.a. |
PaySense |
14% p.a. |
Privo |
9.99% p.a. |
SMFG India Credit |
12% p.a. |
Upwards |
18% p.a. |
YES BANK |
12.50% p.a. |
Zype |
18% p.a. |
*Disclaimer: These rates are subject to change at the lender’s discretion
Let’s explore the impact of various tenures on your monthly instalment with an example. Assume that the interest rate of ₹1 Lakh loan is 9.99% p.a. As per this, the EMI over different tenures are presented in the following table:
Tenure |
EMI Amount |
Total Interest |
Total Repayment Amount |
12 months |
₹8,791.12 |
₹5,493.48 |
₹1,05,493.48 |
24 months |
₹4,614.03 |
₹10,736.75 |
₹1,10,736.75 |
36 months |
₹3,226.25 |
₹16,144.97 |
₹1,16,144.97 |
48 months |
₹2,535.78 |
₹21,717.35 |
₹1,21,717.35 |
60 months |
₹2,124.21 |
₹27,452.75 |
₹1,27,452.75 |
72 months |
₹1,852.08 |
₹33,349.73 |
₹1,33,349.73 |
84 months |
₹1,659.60 |
₹39,406.55 |
₹1,39,406.55 |
96 months |
₹1,516,89 |
₹45,621.18 |
₹1,45,621.18 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
Consider the above insights before you apply to choose a tenure that fits your budget and suits your preferences.
Make sure to meet the following criteria to qualify for a personal loan of ₹1 Lakh:
Age: 21 years or above
Credit Score: 600 or higher
Monthly Income: ₹15,000 or more
Work Experience: 2-3 years
Citizenship: Indian
- Employment Type: Salaried or self-employed
Also, keep the following documents handy for a seamless loan application process:
ID Proof: Any one of the following
PAN card
Aadhaar card
Voter ID
Driving licence
Passport
Address Proof: Any one of the following
Voter ID
Passport
Aadhaar card
Driving licence
Utility bill
Income Proof: Salary slip or bank statement of the last 3 months
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
Frequently Asked Questions
Can I get a ₹1 lakh personal loan without submitting my income proof?
You can get a ₹1 Lakh loan without income proof. However, for this, you will be required to meet certain conditions like offering collateral.
How can I get a ₹1 lakh personal loan?
You can apply for a personal loan of ₹1 Lakh through Bajaj Markets by following these simple steps:
Click on the ‘Check Offer’ option on this page
Enter your personal and professional details
Choose a lender from the list provided
Select the required loan amount and preferred tenure
- Check the information entered and submit the application
Following this, a representative will reach out to you for further proceedings.
What is the interest rate applicable on a personal loan of ₹1 Lakh?
You can secure a loan of ₹1 Lakh at interest rates starting from just 9.99% p.a. by applying for it on Bajaj Markets.
Can I get a ₹1 lakh personal loan without submitting any collateral?
Since personal loans are collateral-free, you can get a ₹1 lakh personal loan without offering any security.
How fast can I get a personal loan of ₹1 Lakh?
You can get a ₹1 lakh personal loan instantly within minutes by applying for it on Bajaj Markets. Here, multiple lending partners like Fibe, KreditBee, Privo, and Kissht send the amount to your account within 5 to 15 minutes, once your application is approved.
What is the minimum and maximum tenure for ₹1 Lakh loan?
You can enjoy tenures ranging from a couple of months to 6 years by applying for a personal loan of ₹1 Lakh on Bajaj Markets.
