Personal Loan of ₹9 Lakhs

Life often brings unexpected expenses and unique opportunities and challenges that require immediate financial support. Whether it is planning a wedding, covering urgent medical bills, or making a significant purchase, having timely financial assistance is essential.

Your Personal Loan EMI

₹ 19,118

Total Interest Amount

₹ 247,075

Principal Amount

₹ 900,000

Total Payable Amount

₹ 1,147,075

Loan Amount

Interest Rate

- +

Tenure

- +

Instant Approval

You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

Lenders Offering Personal Loans of ₹9 Lakhs on Bajaj Markets

The platform provides access to high-value loans from leading issuers such as Kotak Mahindra Bank, InCred, L&T Finance, and more. Compare personal loan interest rates and other details to identify the most suitable option for you:

Lender	Maximum Tenure	Minimum Interest Rate
Bajaj Finance Limited	96 months	10% p.a.
Kotak Mahindra Bank	72 months	10.99% p.a.
L&T Finance	48 months	12% p.a.
SMFG India Credit	60 months	12% p.a.
YES BANK	72 months	12.50% p.a.
Muthoot Finance	60 months	14.50% p.a.
Finnable	60 months	15.95% p.a.
InCred	60 months	16% p.a.
moneyview	60 months	16% p.a.

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

EMI for a Personal Loan of ₹9 Lakhs Over Varying Tenures

The repayment period plays a crucial role in determining your monthly EMI payments. Refer to the table below for a clear understanding, assuming you have taken a personal loan of ₹9 Lakhs at a 10% annual interest rate:

Tenure	EMI Amount	Total Interest Payable	Total Repayment Cost
1 Year (12 Months)	₹79,124	₹49,492	₹9,49,492
3 Years (36 Months)	₹29,040	₹1,45,457	₹10,45,4567
5 Years (60 Months)	₹19,122	₹2,47,340	₹11,47,340
8 Years (96 Months)	₹13,657	₹4,11,048	₹13,11,048

Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Fees and Charges for a Personal Loan of ₹9 Lakhs Available on Bajaj Markets

Different lenders have various charges associated with personal loans. Take a look at the table below to understand them better.

Fees and Charges	Details
Processing Fees	Up to 6% of the loan amount
Foreclosure Charges	Up to 6% of the amount
Part-payment Charges	Up to 25% of the amount

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

How to Calculate Your Personal Loan EMI

Here is how you can calculate your Personal Loan EMI:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where:

P = Loan amount
R = Monthly interest rate (Annual interest rate/12/100)
N = Loan tenure in months

For example, borrowing ₹9 Lakhs from Bajaj Markets at a 10% annual interest rate for 50 months results in an EMI of ₹22,083. The total interest paid will be ₹2,04,175, making the total repayment amount ₹11,04,175.

Amortisation Table for a Personal Loan of ₹9 Lakhs

Review the table below to see the amount payable on the ₹9 Lakh loan. The calculation is based on an interest rate of 10% and a tenure of 6 months. Here is the amortisation breakdown:

Month	Payable Amount	Principal	Interest	Balance
Month 1	₹1,54,405	₹1,46,905	₹7,500	₹7,53,095
Month 2	₹1,54,405	₹1,48,129	₹6,276	₹6,04,965
Month 3	₹1,54,405	₹1,49,364	₹5,041	₹4,55,601
Month 4	₹1,54,405	₹1,50,609	₹3,797	₹3,04,993
Month 5	₹1,54,405	₹1,51,864	₹2,542	₹1,53,129
Month 6	₹1,54,405	₹1,53,129	₹1,276	₹0

Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

Impact of Pre and Post-personal Loan Approval on CIBIL Score

CIBIL scores range from 300 to 900, and a score above 750 indicates that you are a responsible borrower. Personal loans can affect your credit score in several ways, such as:

Pre-approval Impact

A hard inquiry occurs when a lender reviews your complete credit report from a credit bureau to evaluate your creditworthiness during loan verification. Although the impact is typically small and temporary, it may lower your credit score by a few points.

Post-repayment Impact

Paying EMIs on time improves your credit score. It reflects responsible financial management, enhancing your chances of securing loans in the future.

Uses of a Personal Loan of ₹9 Lakhs

A personal loan of up to ₹9 Lakhs can help you manage various expenses, whether unexpected or planned. Here is how you can use it:

Wedding Planning

Make your special day unforgettable with grand arrangements, premium catering, and other wedding-related costs. A personal loan helps you manage expenses efficiently, allowing you to focus on celebrating.

Business Needs

Maintain cash flow, cover invoice delays, or support daily operations with a personal loan. Access up to ₹9 Lakhs to keep your business running smoothly.

Travel Plans

Plan spontaneous getaways or long-awaited holidays with ease. A personal loan covers flights, accommodation, and other expenses, ensuring a stress-free travel experience.

Home Renovation or Moving

Whether upgrading your home, purchasing new furniture, or relocating to a new city, a personal loan provides the necessary funds to manage these transitions smoothly.

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Frequently Asked Questions

What are the eligibility criteria for a personal loan of ₹9 Lakhs?

Before applying for a personal loan online, ensure you meet the following eligibility criteria:

Citizenship: Indian resident
Employment Status: Salaried or self-employed
Age: Above 18 years
Minimum Income: ₹10,000 per month
Work Experience: At least 1 year
CIBIL Score: 600 or above

Can I secure a loan of ₹9 Lakhs without providing any collateral?

Yes, more than eight lenders from top banks and financial institutions offer loans of ₹9 Lakhs without requiring any collateral.

What is the minimum interest rate for a loan of ₹9 Lakhs?

You can secure a personal loan of ₹9 Lakhs with interest rates starting at 10% per annum on Bajaj Markets.

What are the documents we need to apply for a personal loan of ₹9 Lakhs?

Document requirements vary between lenders. However, the commonly required documents include:

Identity Proof (PAN, Aadhaar, Voter ID, Passport, or Driving Licence)
Address Proof (Voter ID, Aadhaar, Passport, Driving Licence, Electricity, or Telephone Bill)
Income Proof (Last 3 months' bank statement or salary slips)

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Personal Loan of ₹9 Lakhs

Lenders Offering Personal Loans of ₹9 Lakhs on Bajaj Markets

EMI for a Personal Loan of ₹9 Lakhs Over Varying Tenures

Fees and Charges for a Personal Loan of ₹9 Lakhs Available on Bajaj Markets

How to Calculate Your Personal Loan EMI

Amortisation Table for a Personal Loan of ₹9 Lakhs

Impact of Pre and Post-personal Loan Approval on CIBIL Score

Uses of a Personal Loan of ₹9 Lakhs

Other Instant Personal Loan Options

Frequently Asked Questions

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