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10 Lakh Personal Loan

4.5/5

15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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ICICI BankICICI Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2.5%
Max. Loan Amount₹2 Crore
HDFC BankHDFC Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹4999+GST
Max. Loan Amount₹50 Lakh
Axis BankAxis Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹40 Lakh
Kotak BankKotak Bank
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹12999+GST
Max. Loan Amount₹50 Lakh
Bajaj FinservBajaj Finserv
Processing Time1 - 2 Days
Interest Rate10% onwards
Processing FeesUpto 1.2%
Max. Loan Amount₹75 Lakh
IDFC First BankIDFC First Bank
Processing Time1 - 2 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹1 Crore
CholamandalamCholamandalam
Processing Time3 - 5 Days
Interest Rate17% onwards
Processing FeesUpto 4%
Max. Loan Amount₹50 Lakh

Features of Rs. 10 Lakh Personal Loan

  • Interest rate: Starting 9.98% p.a.
  • Loan tenure: Up to 5 years
  • Processing fees: Up to 3% of the loan amount
  • Collateral: Unsecured

Why Opt for a Personal Loan of Rs. 10 Lakh?

A Rs. 10 lakh personal loan can be a flexible financing option for:

  • Wedding costs or home renovations
  • Treatment costs and medical emergencies
  • Debt consolidation or refinancing
  • Funding your higher education in India or abroad

Eligibility Criteria for a Rs. 10 Lakh Personal Loan

Eligibility criteria for a Rs. 10 lakh loan, most banks and NBFCs generally require:

  • Age: 21 to 60 years
  • EMI to Income Ratio: Lenders usually consider applicants with a ratio below 50-55%. For larger loan amounts, the required income is usually higher.
  • Credit Score: 750+ is ideal
  • Employment: Salaried or self-employed with stable income
  • Work experience: 1-2 years minimum

Documents Required

Here are the basic documents needed to apply for a Personal loan of Rs. 10 lakh:

  • PAN card & Aadhaar card
  • Salary slips (last 3 months) or ITR (for self-employed)
  • Bank statements (last 6 months)
  • Address proof (electricity bill, rent agreement, etc.)
  • Employment proof or business proof

Interest Rate on Rs. 10 Lakh Loan

Interest rates for Rs. 10 lakh personal loans in India typically start from 9.98% p.a. However, your final interest rate will depend on:

  • Your credit score
  • Employer category (for salaried)
  • Loan tenure
  • Existing debts

Note: A credit score of 750+ can help you secure the lowest personal interest rates. Maintaining a good credit score is essential to accessing better loan terms.

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Fees & Charges for 10 Lakh Loan

  • Processing Fee: Ranges from 0.5% to 4% of the loan amount
  • Stamp Duty: Applicable as per actual
  • Late EMI Charges: Approximately 24% p.a.
  • Legal Charges: Levied as per actuals

Tips to Get Approved for a Personal Loan of Rs. 10 Lakh

You can increase your chances of approval with these simple practices:

  • Maintain a high credit score (750+)
  • Avoid multiple loan applications at once
  • Choose a longer tenure to reduce EMI burden
  • Provide accurate income proof
  • Add a co-applicant (if needed) for better eligibility

EMI Calculation for Rs. 10 Lakh Personal Loan

Here’'s a sample EMI calculation for a loan of Rs. 10 lakh:

Tenure 11% 13% 15%
1 Rs. 88,382 Rs. 89,317 Rs. 90,258
2 Rs. 46,608 Rs. 47,542 Rs. 48,487
3 Rs. 32,739 Rs. 33,694 Rs. 34,665
4 Rs. 25,846 Rs. 26,827 Rs. 27,831
5 Rs. 21,742 Rs. 22,753 Rs. 23,790
6 Rs. 19,034 Rs. 20,074 Rs. 21,145

Use an online personal loan EMI calculator to plan better.

Benefits of Choosing a Rs 10 Lakh Loan through Paisabazaar

  • Hassle Free Experience
  • Access to 30+ Lenders
  • Collateral-Free Loan Offers
  • Free Credit Score
  • Pre-approved Loan Offers
  • Attractive Interest Rates
  • Easy EMI Options
  • Quick Approvals & Disbursal
  • End-to-End Assistance

How a ₹10 Lakh Loan Impacts Your Credit Score

Your credit score may be greatly impacted by taking out a large loan, such as Rs. 10 lakh, in both positive and negative ways, based on how you handle it. Here's how:

Positive Impact

  • Timely EMI Payments = Boosted Score: If you pay your EMIs regularly and on time, your credit history will become strong with a robust repayment track record.
  • Demonstrates Creditworthiness: Responsibly handling a Rs. 10 lakh loan demonstrates your ability to manage large credit, which boosts lender confidence.

Negative Impact

  • Missed or Late EMIs = Lower Score: A single late payment can have a negative impact on your credit report and severely lower your score.
  • Hard Enquiries from Multiple Applications: If you apply to many lenders at once, it triggers multiple credit checks, which may slightly lower your score.
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    FAQs

    What is the EMI for Rs. 10 lakh personal loan for 5 years?

    The EMI will depend on your interest rate and the tenure of the loan. For example, if your loan has an interest rate of 11% with a 5-year tenure, then your EMI will be around Rs.21,742 approx.

    What salary is required for Rs. 10 lakh personal loan?

    A minimum salary of Rs. 15,000 is required to avail a personal loan in India. However, for a Rs. 10 lakh personal loan the requirement may be higher and vary for different lenders. 

    Can I get a Rs. 10 lakh loan with 720 CIBIL score?

    You may become eligible for the Rs. 10 lakh loan with 720 credit score at Paisabazaar. However, the interest rate offered can be high and you may have to adhere to stringent loan terms.

    What is the processing fee for Rs. 10 lakh personal loan?

    The processing fee for Rs. 10 lakh personal loan may range from 0.5% to 4% of the loan amount. During festive seasons, lenders offer personal loans with low/no processing fees, making it an beneficial time to opt for a personal loan.

    Can I get a Rs. 10 lakh loan without income proof?

    This may vary across lenders and require you to provide alternatives to assess your repayment capacity. Additionally, you would also be required to maintain a strong credit score and profile. 

    How quickly is Rs. 10 lakh personal loan approved?

    With end-to-end digital process and minimal documentation, approval time is quick at Paisabazaar. Applicants can get loan approval within hours, if he or she fulfills all eligibility criteria. 

    What is the required CIBIL score for Rs. 10 lakh loan?

    For a personal loan, the majority of lenders prefer a credit score of 760 or above. Consider utilizing Paisabazaar Credit+ services if your score is below 760 to build your credit profile and improve your chances of approval.

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    What our customers say

    Get My Personal loan disbursed

    I would like to give a huge shoutout to Munni Nayak from Paisabazaar for her incredible support in helping me get my personal loan disbursed within just a few days. She was extremely cooperative throughout the entire process and demonstrated great knowledge by explaining every step in detail with patience and clarity. I truly appreciate her dedication, professionalism, and the smooth experience she provided. Thank you so much, Munni, for all your help and support!

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    Preeti BhattMay 16, 2026

    Smooth & hassle-free loan approval experience

    I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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    Sanjay Kumar GuptaMar 30, 2026

    Exceptional guidance throughout the process

    I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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    Jyotirmoy SinghaMar 23, 2026

    Very helpful and easy to reach

    I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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    Kirubagaran GanesanFeb 24, 2026

    Reliable help when i needed it most

    I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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    DharmeshFeb 22, 2026

    Committed support that made everything easy

    I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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    BhupendraFeb 18, 2026

    My Trust in Paisabazaar has Increased

    I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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    Lalit MaviFeb 12, 2026

    Best Place for Taking Loans

    I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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    Kokil BarnwalFeb 12, 2026

    Easy loan approval with good guidance

    Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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    Riyaj AtarFeb 9, 2026

    Apne higher education ke liye loan liya tha

    Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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    Puja DanuJan 22, 2026
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    Anubhuti Agrawal profile
    Written ByLinkedIn icon
    Anubhuti Agrawal
    Shamik Ghosh profile
    Reviewed ByLinkedIn icon
    Shamik Ghosh

    Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

    The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

    The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

    Address: Paisabazaar Marketing & Consulting Pvt. Ltd. 135 P, Sector 44, Gurugram (HR) 122001

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