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Pre-loan Eligibility checker
Last updated on: July 22, 2025
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Read BioNeed ₹10 Lakh personal loan urgently? with instant approval, flexible EMIs, and low-interest rates starting at 10.49% with up to 7 Years of Tenure!
Are you in need of financial support to fulfill your dreams, cover unexpected expenses, or consolidate your debts? Look no further! At Fincover, we have collated the best personal loan deals from multiple banks and NBFCs. Both salaried and self-employed can avail personal loans. Applicants can avail loans from 1 Lakh – 50 Lakhs. Apply now for a Personal loan of 10 Lakhs easily following the hassle-free application process and get instant approval.
Loan Amount: ₹10,00,000
Interest Rate (ROI): 10.5% per annum
| Tenure | Monthly EMI (₹) |
|---|---|
| 1 Year | ₹88,238 |
| 2 Years | ₹46,506 |
| 3 Years | ₹32,493 |
| 4 Years | ₹25,620 |
| 5 Years | ₹21,490 |
| 6 Years | ₹18,715 |
| 7 Years | ₹16,793 |
| Bank | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| DBS Bank | 10.99% – 30.00% | ₹25,000 to ₹15 Lakhs | 1%–3% + GST | 24–48 hrs | Apply |
| HDFC Bank | 10.90% – 24.00% | ₹50,000 to ₹40 Lakhs | Up to ₹6,500 + GST (~1–3%) | 24–48 hrs | Apply |
| Axis Bank | From ~11.25% | ₹50,000 to ₹15 Lakhs | 1.5%–2% + GST | 24–72 hrs | Apply |
| ICICI Bank | 10.80% – 16.65% | Up to ₹50 Lakhs | 0.5%–2% + GST | 24–48 hrs | Apply |
| Bank of Baroda | 10.49% – 18.75% | ₹30,000 to ₹20 Lakhs | Up to 2% + GST | 48–72 hrs | Apply |
| SBI | 10.30% – 15.30% | ₹10,000 to ₹35 Lakhs | Up to 1.5% + GST | 2–3 working days | Apply |
| IndusInd Bank | From 10.49% | ₹30,000 to ₹50 Lakhs | Up to 3.5% (2% online) + GST | 24–48 hrs | Apply |
| Yes Bank | 10.99% – 21% | ₹100,000 to ₹40 Lakhs | Up to 2.5% + GST | 24–48 hrs | Apply |
| Standard Chartered | 11.49% – 17% | ₹1 Lakh to ₹50 Lakhs | Up to 2.25% + GST | 48–72 hrs | Apply |
| IDFC FIRST Bank | 9.99% – ~10.75% | ₹1 Lakh to ₹50 Lakhs | Up to 3.5% + GST | 24–48 hrs | Apply |
| Kotak Mahindra Bank | From 10.99% | ₹50,000 to ₹40 Lakhs | 1%–2.5% + GST | 24–48 hrs | Apply |
| Punjab National Bank | 11.50% – 17.05% | Up to ₹20 Lakhs | Up to 1% + GST | 2–3 days | Apply |
| Bandhan Bank | 10.50% – 12.55% | ₹50,000 to ₹25 Lakhs | Up to 3% + GST | 48–72 hrs | Apply |
| NBFC | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|---|---|---|---|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | 2%–3% + GST | 24–72 hrs | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Up to 3% + GST | 2–3 days | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Up to 2.5% + GST | 24–48 hrs | Apply |
| InCred | From 18% | Up to ₹10 Lakhs | 2%–4% + GST | Instant to 24 hrs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Up to 3% + GST | 24–48 hrs | Apply |
| Poonawalla Fincorp | From 9.99% | Up to ₹30 Lakhs | 1%–2% + GST | 24–72 hrs | Apply |
| Fullerton India | From 11.99% | Up to ₹25 Lakhs | Up to 3% + GST | 1–2 working days | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Up to 2.5% + GST | 1–2 days | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Up to 3% + GST | 2–3 days | Apply |
| Aditya Birla Finance | From 11.99% | Up to ₹50 Lakhs | Up to 2.5% + GST | 48–72 hrs | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Up to 4% + GST | 24–72 hrs | Apply |
To apply for a personal loan of ₹10 lakh, you need to meet the following criteria:
| Criteria | Details |
|---|---|
| Minimum Age | 21 years |
| Maximum Age | 60 years (varies by lender) |
| Minimum Salary | ₹35,000 per month* |
| Employment Type | Salaried Employees |
| Work Experience | Minimum 1 year (salaried) |
| Credit Score | 700+* |
| Citizenship | Indian Resident |
| Loan Tenure | Up to 7 years |
| Document Type | Details |
|---|---|
| Identity Proof | Aadhaar Card, PAN Card, Passport, Voter ID, Driving License |
| Address Proof | Utility Bills (Electricity, Water, Gas), Aadhaar Card, Passport, Rent Agreement |
| Income Proof | Latest Salary Slips (last 3 months) |
| Bank Statements | Bank Statements (last 3-6 months) |
| Employment Proof | Offer Letter, Employment Certificate |
| Photographs | Recent Passport-sized photographs |
| Loan Application Form | Duly filled and signed form from the lender |
Don’t let financial constraints hold you back from achieving your goals. Apply for a personal loan of 10 lakhs and take the first step toward a brighter financial future.
1. Can I apply for a 10 lakh personal loan jointly with a co-applicant?
Including a trusted person as a co-applicant on your loan application improves your chances of loan approval and helps you receive favorable loan terms since joint applicants benefit from combined financial history.
2. How does my employment sector influence personal loan approval?
Many lenders prefer borrowers who work in secure sectors of the economy. Workers with unstable job fields typically see tighter approval rules and pay more interest on their loan.
3. Is it possible to get a 10 lakh personal loan with a low credit score?
Lending institutions may authorize loans to applicants with poor credit standing but may charge elevated rates and require support from cosigners as part of their terms.
4. What are the tax implications of a personal loan?
Since personal loans are not treated as income they do not trigger tax obligations. A taxpayer may qualify for tax deductions when they use the loan to renovate their home under specified regulations.
5. Can I prepay or foreclose my 10 lakh personal loan?
Most lenders let you pay off personal loans early or end them before term but you must review your loan agreement to see fee and condition details.
6. How does the loan tenure affect the EMI for a 10 lakh personal loan?
A longer loan period lowers your monthly payment but raises your total interest costs during the life of the loan. The opposite is true when you select a shorter term.
Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.
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.
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.
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.
Based on Google's Helpful Content System, this article emphasizes user value, transparency, and accuracy. It incorporates principles of E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness).
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