Get a ₹10 Lakh Loan through a simple online application process on Bajaj Markets
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You can easily get a ₹10 Lakh personal loan from well-known lenders in India on Bajaj Markets. Simply, provide a few basic personal details and get going. The loan comes with minimal documentation requirements and simple eligibility criteria. Furthermore, you can repay the loan at your convenience over tenures of up to 96 months.
Some renowned lenders who offer personal loans of ₹10 Lakhs on Bajaj Markets are listed below:
Lenders |
Starting Interest Rates |
Bajaj Finance |
11% p.a |
Finnable |
15.95% p.a. |
InCred |
16% p.a. |
Kotak Mahindra Bank |
10.99% p.a. |
moneyview |
15.96% p.a. |
Muthoot Finance |
14.50% p.a. |
SMFG India Credit |
12% p.a. |
YES BANK |
12.50% p.a. |
*Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Assume you took ₹10 Lakh loan at an interest rate of 11% p.a. As per the chosen tenure, here is a computation of the EMI, interest charges, and total repayment amount, you may have to pay:
Tenure |
EMI Amount |
Total Interest Payable |
Total Repayment Cost |
12 months |
₹88,381.66 |
₹60,579.90 |
₹10,60,579.90 |
24 months |
₹46,607.84 |
₹1,18,588.12 |
₹11,18,588.12 |
36 months |
₹32,738.72 |
₹1,78,593.82 |
₹11,78,593.82 |
48 months |
₹25,845.52 |
₹2,40,585.09 |
₹12,40,585.09 |
60 months |
₹21,742.42 |
₹3,04,545.38 |
₹13,04,545.38 |
72 months |
₹19,034.08 |
₹3,70,453.69 |
₹13,70,453.69 |
84 months |
₹17,122.44 |
₹4,38,284.66 |
₹14,38,284.66 |
96 months |
₹15,708.43 |
₹5,08,008.86 |
₹15,08,008.86 |
*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.
Compare the EMIs across various tenures to create a strategy that enables you to balance the EMI amount with the total repayment costs.
Ensure to fulfil the requirements listed below to improve your chances of loan approval:
Indian citizenship
Age between 18 to 65
Minimum monthly earning of ₹15,000.
Salaried or self-employed
High CIBIL score
Also, here is a list of some essential documents to keep handy when applying for the loan:
ID proof like a PAN card or Aadhaar card
Residential proof like a passport, electricity bill, or ration card
For Salaried Individuals
ITR or Form 16 of the previous financial year
Salary slips of the last 3 months
Bank account statement of the last 6 months
For Self-employed Individuals
Form 26AS, TDS certificate, or Income tax challan of the business
ITR returns of the last 2 financial years
Proof of business origination
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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
How can I get an instant ₹10 Lakh personal loan?
You can easily apply for an instant ₹10 Lakh personal loan online by filling in the application form on Bajaj Markets. Also, submit the necessary documents through a completely digital process to avoid extensive paperwork. It is crucial to ensure that you fulfil the eligibility criteria for a personal loan so that your application is processed faster.
What is the EMI for ₹10 Lakh personal loan?
If the interest rate is set at 10.99% p.a. then depending on the tenure (12 to 96 months), the EMI may range between ₹88,381.66 and ₹15,708.43. The ₹10 Lakh personal loan EMI depends on the tenure and the rate of interest. Use a personal loan EMI calculator to check the amount based on the loan terms offered to you.
What is the interest rate levied on a ₹10 Lakh loan?
Interest rates starting from 10.99% p.a. are applicable on ₹10 Lakh personal loan available on Bajaj Markets. The rate offered to you depends on your eligibility and the lender’s policies.
Can I get a ₹10 Lakh loan without providing any collateral?
Yes, you can easily get a ₹10 Lakh loan without pledging collateral.
Which is the best bank for ₹10 Lakh personal loan?
Many banks and financial institutions like Bajaj Finance, YES BANK, Finnable, InCred, etc. offer ₹10 Lakh personal loan at a competitive rate. Loans from these and other lenders are available on Bajaj Markets, enabling you to compare and choose an option that best suits your needs.
What will happen if I default on my personal loan of ₹10 Lakhs?
If you are unable to pay your loan EMIs for a stipulated time period, then the lender issues a 60-day notice. Herein, you can pay back all pending dues and close the notice. You may be asked to pay a late payment charge, which can be quite hefty. If the due amount is not repaid within the notice period, then the lender holds the right to take legal action against you.
Can I get a ₹10 Lakh loan without providing any documents?
No. You are required to submit some essential documents as proof of identity, address, and income to get a ₹10 Lakh loan.
What is the minimum salary required to be eligible for ₹10 Lakh personal loan?
A monthly income of ₹15,000 is required to be eligible for a personal loan of ₹10 Lakhs on Bajaj Markets.
