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Personal Loan of Rs. 10 lakh

Home Personal Loan 10 Lakh Loan

Are you planning to borrow a personal loan of Rs. 10 lakh to meet your urgent cash requirements? Get personal loans on Paisabazaar at interest rates starting from as low as 10.50% p.a. with flexible repayment tenure from leading banks and NBFCs. The loan amount of Rs. 10 lakh can be availed to enhance cash flow and financial flexibility at times of cash crunch. You can use the loan for various purposes, such as paying education fees, wedding expenditure, meeting medical emergencies, home renovations, vacations, debt consolidation, etc.

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Updated: 15-04-2025 05:26:15 AM

Rs. 10 lakh Personal Loan

Applicants can apply for Instant personal loan of Rs. 10 lakh online by checking their eligibility criteria and comparing from various personal loan products available on Paisabazaar.

The possibility of availing personal loan shall primarily depend on the applicant’s age, income, employment type, existing loan obligations, employer’s profile, etc. Consumers with a strong credit profile and high and stable income have better chances of getting their personal loan application approved from lenders. For quicker access and stronger chances of approval, you should check if your existing Bank is willing to offer you a Rs 10 lakh personal loan.

 

Key Features & Benefits

Find below the main features and benefits that you can enjoy while availing personal loan of Rs. 10 lakh:

  • Unsecured loan: No collateral/security required
  • End-to-end digital process
  • Loan Amount: Rs. 10 lakh (may exceed as per the requirements)
  • Interest Rate: 10.50% p.a. onwards
  • Repayment Tenure: Up to 6 years
  • Instant approval and disbursal
  • Instant money via pre-approved loans for select consumers
  • Simple/Easy documentation processes

Personal Loan Interest rates

Banks and NBFCs offer personal loans at an interest rate of 10.50% p.a. onwards. To get the exact interest rate for Rs. 10 lakh personal loan, you shall need to check and compare from various lenders offering personal loan for the desired loan amount. The rate of interest offered to you would depend on factors like your credit history, income, employer etc.

Top Banks/NBFCs Offering Rs. 10 Lakh Personal Loan in 2025

LendersInterest Rates (p.a.)
Aditya Birla Capital12.99% onwards
Federal Bank12.00% onwards
Axis Bank14.00% onwards
SMFG India Credit14.00% onwards
IndusInd Bank15.00% onwards
Piramal Finance16.00% onwards
Tata Capital18.00% onwards
Hero Fincorp20.00% onwards

Rs. 10 lakh EMI as per tenure

Let’s look at the personal loan EMI amounts for various loan tenures. EMI calculation for Rs 10 lakh loan at 10.50% p.a. interest for 1-5 year tenure.

Principal Amount (Rs.) 10 lakh 10 lakh 10 lakh 10 lakh 10 lakh
Tenure 1 Year 2 Year 3 Year 4 Year 5 Year
Assumed Interest Rate 10.50% 10.50% 10.50% 10.50% 10.50%
EMI (Rs.) 88,149 46,376 32,502 25,603 21,494
Interest Amount (Rs.) 57,783 1,13,025 1,70,088 2,28,962 2,89,634
Total Amount Payable (Rs.) 10,57,783 11,13,025 11,70,088 12,28,962 12,89,634

Note: The exact personal loan EMI is determined by the lender and will be specified in the loan agreement based on the interest rate, loan amount, and loan tenure.

EMI Calculator

Prospective personal loan applicants can use Paisabazaar’s personal loan EMI calculator to calculate the EMI and payable for Rs. 10 lakh personal loan for various tenures and different interest rates. It is advisable to use an EMI calculator before applying for any kind of loan to gauge the EMI burden.

EMI Calculator
₹
%
Year(s)
EMI Calculator

Monthly EMI ₹ 15,622

Total Amount Payble ₹ 5,62,395(Principal + interest)

Principal Amount ₹ 5,00,000

Total Interest Payble ₹ 62,395

 

Eligibility Criteria

  • Age: 18 years to 60 years
  • Employment Type: Salaried employees working with government, public sector undertakings, MNCs and other reputed corporates
  • Business Vintage: Minimum 3 years or above

Make sure to check and meet the eligibility criteria before applying for a personal loan with any lending institution, as the criteria shall differ from lender to lender.

Fees & Charges

Particulars Charges
Loan Processing Fees 0.50% to 4% of the sanctioned loan amount
Loan Cancellation Charges Rs. 3000 (Approx.) – As per lender
Penal Charges Usually @ 2% per month; 24% p.a.
Prepayment/Part-prepayment/Foreclosure Charges Nil – Floating

Usually around 2% – 5% on the principal outstanding – Fixed
Documentation Charges Depends on lender

Note: The above-mentioned fees and charges are basic in nature and shall vary from lender to lender.

Get Personal Loan of Different Amounts
Rs 5 Lakh Personal Loan Rs 2 Lakh Personal Loan
Rs 3 Lakh Personal Loan Rs 1 Lakh Personal Loan
Rs 15 Lakh Personal Loan Rs 50000 Personal Loan

FAQs on 10 Lakh Personal Loan

What is the minimum salary requirement for availing a personal loan of Rs. 10 lakh?

Lenders usually offer personal loans to applicants having a minimum monthly income of Rs. 15,000. However, the minimum salary requirement for availing Rs. 10 lakh personal loan would be higher and would depend on the repayment capacity of the borrower.

How Paisabazaar can help you avail personal loan at competitive interest rates for the desired loan amount?

Here you can access its single web platform to check and compare from all the available loan options offered by its lending partners and select the loan product that suits your requirements.

Can I get a personal loan without collateral or security?

As personal loans are mostly unsecured in nature, so applicants can avail Rs. 10 lakh personal loan without any collateral or security, provided they meet the required loan eligibility from the respective lender.

How to get an instant personal loan of Rs. 10 lakh?

Applicants seeking instant personal loan of Rs. 10 lakh should first check for pre-approved personal loan offers from lender(s) with which they already maintain savings/current account or have availed loans/credit cards as many lenders offer pre-approved personal loans with instant disbursal to their existing customers having good credit profile.

What is the interest rate charged by lenders on a personal loan?

Personal loan interest rates offered by banks and NBFCs vary across lenders. The current interest rates offered by personal loan lenders start from 10.50% p.a. onwards. However, the interest rates offered to each eligible applicant would depend on his/her age, location, credit score, monthly income, occupation profile, employer’s profile, etc.

Can I get a personal loan without a salary slip?

Lenders usually ask for income proof documents like salary slips of last 6 months, ITR, bank statement, etc. while processing their loan applications. However, some lenders may not ask for income proof documents from applicants qualifying for pre-approved personal loans from the respective lenders.

 

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