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Rs.12 Lakh Personal Loan @10.49%* p.a from Top Banks & NBFCs

Need ₹12 lakh loan urgently? Apply and Get a Personal loan of ₹12 Lakh at 10.50% p.a. with 7 years, exclusively for salaried employees.

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Personal Loan of Rs.12 Lakhs

A ₹12 lakh personal loan is ideal for meeting large financial needs, such as education, home renovation, weddings, debt consolidation, or medical emergencies. This guide explains loan features, EMI calculations, eligibility criteria, and required documentation, helping you make an informed decision.

Key Features of ₹12 Lakhs Personal Loan at 10.49% p.a.

  • Loan Amount: ₹12 lakhs, suitable for significant financial goals.
  • Interest Rates: Starting from 10.49% per annum (may vary by lender).
  • Flexible Tenure: 12 months to 84 months, tailored to your repayment capacity.
  • Unsecured Loan: No need for collateral or guarantors.
  • Quick Approval: Funds are disbursed within 24–48 hours for eligible borrowers.

Bank Interest rates for Rs.12 Lakh Personal Loan

Banks
Personal Loan Interest Rates 2025
Institution Interest Rates
HDFC Bank 10.85% – 24.00%
Axis Bank 11% – 24.00%
Bandhan Bank 11.90% Onwards
ICICI Bank 10.85% – 16.25%
DBS Bank 10.99% – 24.00%
Bank of Baroda 11.05% – 18.75%
SBI 11.45% – 14.85%
IndusInd Bank 10.49% – 24.00%
Yes Bank 11.25% – 21.00%
Standard Chartered 11.50% – 24.00%
IDFC First 10.99% – 23.99%
Kotak Mahindra Bank 10.99% – 24.00%
PNB 11.40% – 17.95%
Indian Bank 10.90% – 24.00%

NBFCs Interest rates for ₹12 Lakh Personal Loan

NBFCs
NBFC Name Interest Rate
InCred Interest Rate 2025 16% – 42%
Finnable Interest Rate 2025 16% – 28%
L&T Finance Interest Rate 2025 11% – 24%
Aditya Birla Interest Rate 2025 10% – 32%
Shriram Finance Interest Rate 2025 11% – 42%
Bajaj Finserv Interest Rate 2025 10.75% – 31%
Piramal Interest Rate 2025 12.99% onwards
Tata Capital Interest Rate 2025 11.99% – 35%
Poonawalla Interest Rate 2025 11.49% – 19%
SMFG Interest Rate 2025 13% – 36%
Axis Finance Interest Rate 2025 13% onwards
Mahindra Finance Interest Rate 2025 12% – 36%
Paysense Interest Rate 2025 16.8% – 33%

₹12 Lakh Personal Loan EMI for up to 7 Years

Loan Amount: Rs.12 Lakh

ROI: 10.49%

Tenure (Years)Monthly EMI (₹)Total Interest (₹)Total Payment (₹)
1₹1,05,492₹65,920₹12,65,920
2₹55,804₹1,33,883₹13,33,883
3₹38,877₹1,99,533₹13,99,533
4₹30,623₹2,64,326₹14,64,326
5₹25,739₹3,44,299₹15,44,299
6₹22,991₹4,38,628₹16,38,628
7₹20,313₹5,07,702₹17,07,702

Purposes of ₹12 Lakhs Personal Loan

A ₹12 lakh personal loan can be used for multiple purposes, such as:

  • Education: Fund higher education in India or abroad, covering tuition fees and living costs.
  • Home Renovation: Redesign or upgrade your home with modern amenities.
  • Medical Expenses: Handle planned treatments or emergency healthcare needs.
  • Wedding: Plan a lavish wedding without worrying about finances.
  • Debt Consolidation: Pay off high-interest debts or consolidate multiple loans.
  • Travel: Finance luxury vacations or international trips.

Eligibility Criteria for Personal Loan of ₹12 Lakh

Eligibility Criteria

Details

Age

21 to 60 years (varies by lender)

Employment

Salaried or self-employed

Minimum Monthly Income

₹30,000 for salaried, ₹40,000 for self-employed

Work Experience

At least 1 year (salaried), 2 years (self-employed)

Credit Score

750 or above for favorable interest rates

 

Documents Required for Personal loan of Rs. 12 Lakhs

Document TypeExamples
Identity ProofAadhaar, PAN, Passport, Driving License
Address ProofUtility Bill, Rent Agreement, Passport
Income ProofSalary Slips, Form 16 (for salaried); ITRs and Bank Statements (for self-employed)
Employment ProofOffer Letter, Employment Certificate
PhotographsPassport-sized photographs

Benefits of ₹12 Lakhs Personal Loan

  1. High Loan Amount: Adequate to meet substantial financial needs.
  2. Affordable EMIs: Flexible tenures allow for manageable monthly payments.
  3. No Collateral: Hassle-free application process without the need for assets.
  4. Quick Processing: Funds disbursed within 24–48 hours of approval.

Tips to Secure the Best Personal Loan Deal

  1. Maintain a High Credit Score: A score above 750 enhances approval chances and ensures lower interest rates.
  2. Compare Lenders: Check offers from multiple banks and NBFCs to find the best rate.
  3. Leverage Pre-Approved Offers: Existing customers may get exclusive deals.
  4. Negotiate: If you have a good credit profile, negotiate for better interest rates.
  5. Opt for a Shorter Tenure: This reduces the total interest paid, making the loan more cost-effective.
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