Rs.10 Lakhs Personal Loan @10.49% p.a
Need ₹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!
Rs.10 Lakh Personal Loan
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.
₹10 Lakh Personal Loan EMI (1 to 7 Years)
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 rates for 10 Lakh Personal Loan
Comparison of Personal Loan Interest Rates of Banks (2025)
| Bank | Interest Rate | Loan Amount | Apply |
|---|---|---|---|
| DBS Bank | From 10.99% | Up to ₹15 Lakhs | Apply |
| HDFC | From 10.85% | Up to ₹40 Lakhs | Apply |
| Axis Bank | From 10.49% | Up to ₹40 Lakhs | Apply |
| ICICI Bank | 10.75% – 19% | Up to ₹40 Lakhs | Apply |
| Bank of Baroda | 10.75% – 18.5% | Up to ₹5 Lakhs | Apply |
| SBI | From 11% | Up to ₹30 Lakhs | Apply |
| IndusInd | From 10.49% | Up to ₹50 Lakhs | Apply |
| Yes Bank | From 10.99% | Up to ₹40 Lakhs | Apply |
| Standard Chartered | From 11.5% | Up to ₹50 Lakhs | Apply |
| IDFC | From 10.49% | Up to ₹50 Lakhs | Apply |
| Kotak Mahindra | From 10.99% | Up to ₹40 Lakhs | Apply |
| PNB | From 11.40% | Up to ₹20 Lakhs | Apply |
| Bandhan Bank | From 11.55% | Up to ₹25 Lakhs | Apply |
Comparison of Personal Loan Interest Rates of NBFCs (2025)
| NBFC | Interest Rate | Loan Amount | Apply |
|---|---|---|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Apply |
| InCred | From 18% | Up to ₹3 Lakhs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Apply |
| PaySense | From 16.8% | Up to ₹5 Lakhs | Apply |
| Poonawalla | From 9.99% | Up to ₹30 Lakhs | Apply |
| Fullerton | From 11.99% | Up to ₹25 Lakhs | Apply |
| LendingKart | From 12% | Up to ₹3 Lakhs | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Apply |
| L&T Finance | From 12% | Up to ₹7 Lakhs | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Apply |
| Aditya Birla | From 11.99% | Up to ₹50 Lakhs | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Apply |
10 Lakh Personal Loan for Various Purposes
- ₹ 10 Lakh Personal Loan for Salaried Employees: This loan can be used for various personal needs such as emergency expenses, vacation, or large purchases. It provides financial flexibility and can be repaid through easy EMIs.
- ₹ 10 Lakh Personal Loan for Self-Employed: Self-employed individuals can use this loan for business expansion, working capital, or personal needs. It helps manage cash flow and support business growth without affecting personal finances.
- ₹ 10 Lakh Personal Loan for Home Renovation: This loan is ideal for upgrading or renovating your home, such as adding new features or modernizing existing ones. It offers a way to enhance living conditions without using savings.
- ₹ 10 Lakh Personal Loan for Medical Expenses: A loan of ₹10 lakh can cover significant medical costs, including surgeries, treatments, or hospital bills. It provides financial relief during unexpected health emergencies.
- ₹ 10 Lakh Personal Loan for Debt Consolidation: This loan helps consolidate multiple debts into a single payment, simplifying finances and often lowering the overall interest rate. It’s a useful tool for managing and reducing debt.
- ₹ 10 Lakh Personal Loan for Travel: Use this loan to fund extensive vacation or travel plans. It covers flights, accommodation, and other travel-related costs, making dream trips more accessible.
- ₹ 10 Lakh Personal Loan for Marriage: This loan can cover the costs associated with a wedding, including venue, decorations, catering, and other expenses. It helps in planning a memorable celebration without financial strain.
- ₹ 10 Lakh Personal Loan for Business: Ideal for starting or expanding a business, this loan provides the necessary capital for investments, inventory, or other business-related expenses, supporting growth and operational needs.
Eligibility Criteria for Personal Loan of ₹10 Lakh
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 |
Documents Required for Personal Loan of ₹10 Lakh
| 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 |
Factors Affecting Personal Loan Approval
- Debt-to-Income Ratio: Lenders compare your debt payments with your income to determine your ability to handle an extra loan payment. Lower debts as a percentage of your income make it easier for lenders to approve your credit application.
- Employer’s Profile: People who work at Multinational Companies or other secured jobs have better chances of getting a loan because lenders see them as more secure financially.
Tips to Improve Personal Loan Eligibility
- Maintain a Healthy Credit Mix: Having different types of loans including secured and unsecured helps to increase your credit score .
- Limit Hard Inquiries: High numbers of loan and credit card application inquiries create hard inquiries which can lower your credit score. Apply for credit only when required absolutely
Why Wait? Apply Today!
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.
Frequently Asked Questions (FAQs)
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.
