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
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
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 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.
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