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.
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
Comparison of Personal Loan Interest Rates of Banks (2025)
| Bank | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|
| DBS Bank | From 10.99% | Up to ₹15 Lakhs | 1-2% of loan amount | 24-48 hours | Apply |
| HDFC | From 10.85% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Axis Bank | From 10.49% | Up to ₹40 Lakhs | 1.5% to 2% | 24-72 hours | Apply |
| ICICI Bank | 10.75% – 19% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Bank of Baroda | 10.75% – 18.5% | Up to ₹5 Lakhs | 1%-2% | 48-72 hours | Apply |
| SBI | From 11% | Up to ₹30 Lakhs | Up to 1.5% | 2-3 working days | Apply |
| IndusInd | From 10.49% | Up to ₹50 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Yes Bank | From 10.99% | Up to ₹40 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Standard Chartered | From 11.5% | Up to ₹50 Lakhs | Up to 2.25% | 48-72 hours | Apply |
| IDFC | From 10.49% | Up to ₹50 Lakhs | Up to 3% | 24-48 hours | Apply |
| Kotak Mahindra | From 10.99% | Up to ₹40 Lakhs | 1% to 2.5% | 1-2 days | Apply |
| PNB | From 11.40% | Up to ₹20 Lakhs | Up to 1% | 2-3 days | Apply |
| Bandhan Bank | From 11.55% | Up to ₹25 Lakhs | Up to 2% | 48-72 hours | Apply |
Comparison of Personal Loan Interest Rates of NBFCs (2025)
| NBFC | Interest Rate | Loan Amount | Processing Fee | Processing Time | Apply |
|---|
| Piramal Finance | From 12.99% | Up to ₹35 Lakhs | 2%-3% | 24-72 hours | Apply |
| Shriram Finance | From 14% | Up to ₹35 Lakhs | Up to 3% | 2-3 days | Apply |
| Tata Capital | From 10.99% | Up to ₹35 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| InCred | From 18% | Up to ₹3 Lakhs | 2% to 4% | Instant to 24 hrs | Apply |
| Finnable | From 16% | Up to ₹10 Lakhs | Up to 3% | 24-48 hours | Apply |
| PaySense | From 16.8% | Up to ₹5 Lakhs | Up to 2.5% | 24-48 hours | Apply |
| Poonawalla | From 9.99% | Up to ₹30 Lakhs | 1% to 2% | 24-72 hours | Apply |
| Fullerton | From 11.99% | Up to ₹25 Lakhs | Up to 3% | 1-2 working days | Apply |
| LendingKart | From 12% | Up to ₹3 Lakhs | 2% to 3% | 24-48 hours | Apply |
| Axis Finance | From 13% | Up to ₹25 Lakhs | Up to 2.5% | 1-2 days | Apply |
| Mahindra Finance | From 10.99% | Up to ₹10 Lakhs | Up to 3% | 2-3 days | Apply |
| Aditya Birla | From 11.99% | Up to ₹50 Lakhs | Up to 2.5% | 48-72 hours | Apply |
| Bajaj Finance | From 11% | Up to ₹50 Lakhs | Up to 4% | 24-72 hours | Apply |
₹12 Lakh Personal Loan EMI (1 to 7 Years)
Loan Amount: ₹12,00,000
Interest Rate: 10.49% p.a.
| Tenure (Years) | Monthly EMI (₹) | Total Interest (₹) | Total Payment (₹) |
|---|
| 1 Year | ₹1,05,492 | ₹65,920 | ₹12,65,920 |
| 2 Years | ₹55,804 | ₹1,33,883 | ₹13,33,883 |
| 3 Years | ₹38,877 | ₹1,99,533 | ₹13,99,533 |
| 4 Years | ₹30,623 | ₹2,64,326 | ₹14,64,326 |
| 5 Years | ₹25,739 | ₹3,44,299 | ₹15,44,299 |
| 6 Years | ₹22,991 | ₹4,38,628 | ₹16,38,628 |
| 7 Years | ₹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 ₹12 Lakh
| Document Type | Examples |
|---|
| Identity Proof | Aadhaar, PAN, Passport, Driving License |
| Address Proof | Utility Bill, Rent Agreement, Passport |
| Income Proof | Salary Slips, Form 16 (for salaried); ITRs and Bank Statements (for self-employed) |
| Employment Proof | Offer Letter, Employment Certificate |
| Photographs | Passport-sized photographs |
Benefits of ₹12 Lakhs Personal Loan
- High Loan Amount: Adequate to meet substantial financial needs.
- Affordable EMIs: Flexible tenures allow for manageable monthly payments.
- No Collateral: Hassle-free application process without the need for assets.
- Quick Processing: Funds disbursed within 24–48 hours of approval.
Tips to Secure the Best Personal Loan Deal
- Maintain a High Credit Score: A score above 750 enhances approval chances and ensures lower interest rates.
- Compare Lenders: Check offers from multiple banks and NBFCs to find the best rate.
- Leverage Pre-Approved Offers: Existing customers may get exclusive deals.
- Negotiate: If you have a good credit profile, negotiate for better interest rates.
- Opt for a Shorter Tenure: This reduces the total interest paid, making the loan more cost-effective.
Apply 12 Lakh Personal Loan
