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Last updated on: July 2, 2025

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Personal Loan EMI Calculator

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Rs.1 Lakh Personal Loan @10.49%* Pre-Approved for 25K+ Salary*

Need Rs.1 Lakh Personal Loan Urgently? Enjoy fast approval, flexible repayment options, and no collateral requirements. Apply today for financial freedom!

Personal Loan of Rs.1 Lakh

Whether you need funds for a planned spending or an emergency requirement, you can avail Personal Loan to meet the expenses. At Fincover, we understand that life’s demands can sometimes catch you off guard. That’s why we have developed a platform that has curated the best loan offers from multiple lenders at one roof. You can avail personal loans of 1 Lakh easily in few steps at an affordable interest by submitting minimal documents.

Comparison of Personal Loan Interest Rates of Banks (2025)

BankInterest RateLoan AmountProcessing FeeProcessing TimeApply
DBS BankFrom 10.99%Up to ₹15 Lakhs1-2% of loan amount24-48 hoursApply
HDFCFrom 10.85%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Axis BankFrom 10.49%Up to ₹40 Lakhs1.5% to 2%24-72 hoursApply
ICICI Bank10.75% – 19%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Bank of Baroda10.75% – 18.5%Up to ₹5 Lakhs1%-2%48-72 hoursApply
SBIFrom 11%Up to ₹30 LakhsUp to 1.5%2-3 working daysApply
IndusIndFrom 10.49%Up to ₹50 LakhsUp to 2.5%24-48 hoursApply
Yes BankFrom 10.99%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Standard CharteredFrom 11.5%Up to ₹50 LakhsUp to 2.25%48-72 hoursApply
IDFCFrom 10.49%Up to ₹50 LakhsUp to 3%24-48 hoursApply
Kotak MahindraFrom 10.99%Up to ₹40 Lakhs1% to 2.5%1-2 daysApply
PNBFrom 11.40%Up to ₹20 LakhsUp to 1%2-3 daysApply
Bandhan BankFrom 11.55%Up to ₹25 LakhsUp to 2%48-72 hoursApply

Comparison of Personal Loan Interest Rates of NBFCs (2025)

NBFCInterest RateLoan AmountProcessing FeeProcessing TimeApply
Piramal FinanceFrom 12.99%Up to ₹35 Lakhs2%-3%24-72 hoursApply
Shriram FinanceFrom 14%Up to ₹35 LakhsUp to 3%2-3 daysApply
Tata CapitalFrom 10.99%Up to ₹35 LakhsUp to 2.5%24-48 hoursApply
InCredFrom 18%Up to ₹3 Lakhs2% to 4%Instant to 24 hrsApply
FinnableFrom 16%Up to ₹10 LakhsUp to 3%24-48 hoursApply
PaySenseFrom 16.8%Up to ₹5 LakhsUp to 2.5%24-48 hoursApply
PoonawallaFrom 9.99%Up to ₹30 Lakhs1% to 2%24-72 hoursApply
FullertonFrom 11.99%Up to ₹25 LakhsUp to 3%1-2 working daysApply
LendingKartFrom 12%Up to ₹3 Lakhs2% to 3%24-48 hoursApply
Axis FinanceFrom 13%Up to ₹25 LakhsUp to 2.5%1-2 daysApply
Mahindra FinanceFrom 10.99%Up to ₹10 LakhsUp to 3%2-3 daysApply
Aditya BirlaFrom 11.99%Up to ₹50 LakhsUp to 2.5%48-72 hoursApply
Bajaj FinanceFrom 11%Up to ₹50 LakhsUp to 4%24-72 hoursApply

Rs.1 Lakh Personal Loan EMI for up to 1-7 Years

Loan Amount: Rs.1 Lakh
Rate of Interest (ROI): 10.5%

TenureEMI amount at Interest rate of 10.5%
1 yearRs. 8,814
2 yearsRs. 4,637
3 yearsRs. 3,250
4 yearsRs. 2,560
5 yearsRs. 2,149
6 yearsRs. 1,877
7 yearsRs. 1,686

Advantages of Applying at Fincover

  • Quick and Easy Application: Our streamlined online application process ensures you can apply for a personal loan within minutes, without the need for lengthy paperwork.
  • Quick Approval: We know that time is of the essence. Our efficient approval system ensures you receive a decision quickly from the lender, often within hours from the time of application.
  • Flexible Repayment Options: Tailor your loan repayment to your financial situation with flexible EMI options. One of the biggest advantages of applying online is that you can know how much EMI you are going to pay every month beforehand, so that you can plan your monthly budget accordingly
  • Affordable Interest Rates: The interest rates for Personal Loan start from 10.49%. Getting loans at the most affordable interest rates would enable you to plan your repayment comfortable and stay relaxed
  • No Collateral Required: Personal loans are unsecured in nature, meaning you don’t need to put up any collateral to secure your loan.
  • Transparent Terms and Conditions: There is complete transparency in every step. You’ll always know what you’re signing up for and knkow the subsequent steps, with no hidden fees or surprises.

How to Apply for a Personal Loan of 1 Lakh? @ Fincover

To apply for a personal loan of ₹1 Lakh on Fincover, follow these steps:

  1. Visit Fincover Website: Go to the Fincover website
  2. Select Personal Loan: Navigate to the ‘Loans’ section and choose ‘Personal Loan.’
  3. Enter Loan Details: Specify the loan amount (₹1 Lakh), preferred tenure, and any other relevant details.
  4. Provide Personal Information: Fill out the application form with your personal, financial, and employment information.
  5. Upload Documents: Submit the required documents, such as ID proof, address proof, income proof, and bank statements. Fincover allows for online document submission.
  6. Submit Application: Submit your application for review.
  7. Approval and Disbursement: Fincover will process your application. If approved, the loan amount will be transferred to your bank account.

Following these steps will help you apply efficiently and receive your loan quickly.

Eligibility Criteria for Personal Loan of 1 Lakh

To be eligible for a personal loan, you typically need to meet the following criteria:

Eligibility CriteriaDetails
Minimum Age21 years
Maximum Age60 years (at the time of loan maturity)
Minimum Monthly Salary₹20,000*
Employment TypeSalaried or Self-Employed
Minimum Work Experience1 year for salaried
Credit Score650 or above*
Resident StatusIndian citizen
Required DocumentsID proof, Address proof, Income proof, Bank statements

Documents Required for Personal Loan of 1 Lakh

Document TypeDetails
Identity ProofAadhaar Card, PAN Card, Passport, or Voter ID
Address ProofAadhaar Card, Utility Bill, Rent Agreement, or Passport
Income ProofLatest 3 months’ salary slips
Bank StatementsLast 6 months’ bank statements
Employment ProofEmployment ID card or Offer Letter
PhotographsRecent passport-sized photographs

FAQs for Personal Loan of 1 Lakh

1. How to get ₹1 Lakh immediately?

To get ₹1 Lakh immediately, consider applying for a personal loan online with instant approval options. You can also explore other options such as payday loans or borrowing from family and friends. Ensure you have all necessary documents ready to expedite the process.

2. How to get ₹1 Lakh in an emergency?

In an emergency, the fastest way to get ₹1 Lakh is by applying for an online personal loan with quick disbursement. Look for lenders offering instant approval and immediate fund transfer. Ensure you meet the eligibility criteria and have all required documents readily available.

3. What is the EMI for a ₹1 Lakh loan?

The EMI for a ₹1 Lakh loan depends on the loan tenure and interest rate. For example, at an interest rate of 10.99% per annum for a 12-month tenure, the EMI would be approximately ₹8,879. Use an EMI calculator to get precise figures based on your specific terms.

4. Who is eligible for a ₹1 Lakh loan?

Eligibility for a ₹1 Lakh loan typically includes:

  • Age: 21 years or older
  • Income: Minimum monthly salary of ₹20,000
  • Employment: Salaried or self-employed with a stable income
  • Credit Score: Generally, a score of 650 or above
  • Residency: Indian citizen

Fulfil your financial obligations now

Our hassle-free personal loan ensures fast approval and flexible terms. Apply now for financial freedom!

Apply 1 Lakh Personal Loan

Prem Anand Author
Prem Anand
Prem Anand
VIP CONTRIBUTOR
Prem Anand
10 + years Experienced content writer specializing in Banking, Financial Services, and Insurance sectors. Proven track record of producing compelling, industry-specific content. Expertise in crafting informative articles, blog posts, and marketing materials. Strong grasp of industry terminology and regulations.
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Prem Anand Reviewed by
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Prem Anand
Founder and CEO
Gurumoorthy Anthony Das
With over 20 years of experience in the BFSI sector, our Founder & MD brings deep expertise in financial services, backed by strong experience. As the visionary behind Fincover, a rapidly growing online financial marketplace, he is committed to revolutionizing the way individuals access and manage their financial needs.
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Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.

Who is the Author?

Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.

How is the Content Written?

The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.

Why Should You Trust This Content?

This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.