Interest Rates
Starting at 16% p.a.
Loan Tenure
12-36 Months
Hidden Charges
Zero

Fulfil Immediate Needs With ₹1 Lakh Personal Loan

Managing unexpected expenses becomes easier with access to a Personal Loan of ₹1 lakh. Whether it's a sudden medical bill, urgent travel, or home-related repairs, a 1 lakh loan is ideal for covering short-term financial gaps. An instant Personal Loan ensures quick disbursal through a fully digital process, allowing applicants to receive funds without delays or extensive paperwork.

With flexible repayment options and competitive interest rates, borrowers can maintain financial stability while addressing immediate needs, making it a source of quick financial assistance. Choosing a hassle-free ₹1 Lakh Personal Loan offers a reliable way to handle urgent situations with confidence and convenience. Apply now!

Why Choose Poonawalla Fincorp

collateral icon Collateral-free
Loan
Interest Rate Icon Attractive
Interest Rates
Use Icon No End-use
Restriction
document icon Minimal
Documentation
quick icon Fast
Disbursal
EMI Icon Flexible
Repayment Tenure

EMI Calculator for Personal Loan of ₹1 Lakh

Use our Personal Loan EMI calculator to accurately calculate your monthly repayments and payable EMIs during the application process. Enter your desired loan amount, tenure, and interest rate. Try now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹50000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
16%
36%

Tenure

Months
12 Months
36 Months

Apply for an Instant Loan Online

Step 1 icon

Click on "Apply Now”

Tap the Apply Now button to initiate your application.

Step 2 icon

Enter Details

Enter your DOB, PAN card number, monthly income, KYC details and residential details.

Step 3 icon

Instant Disbursement

The loan amount will be credited to your bank account instantly.

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Eligibility Criteria for ₹1 Lakh Loan

Check eligibility criteria for ₹one lakh Personal Loan:

  • Citizenship: Indian.
  • Age: 25 to 55 years.
  • Employment: Salaried and Self Employed, Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp.
  • Annual Household Income: Minimum ₹3 Lakh.

Documents Required for ₹1 Lakh Loan

Keep the following documents handy while applying for the ₹1 Lakh loan:

  • KYC Documents: PAN Card and Aadhaar Card

Interest Rates and Charges on a Personal Loan of ₹1 Lakh

Poonawalla Fincorp offers loans at attractive interest rates with nominal charges:

Interest Rate
16%* p.a. onwards
Loan Amount
₹50,000 to ₹5 Lakh
Loan Processing Fees
2.5% to 3.5% plus applicable charges
Lowest EMI Per Month
₹1,758* for 36 months
Loan Tenure
12 to 36 months
Prepayment/Foreclosure Charges
0% if paid from own sources
4% If paid from other sources
Default Interest
2% per month
Repayment Instrument Dishonor Charges
₹500 per bounce plus applicable taxes
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

EMI for ₹1 Lakh Loan for Up to 3 Years

Check the payable EMIs for up to 3 years for Personal Loan of ₹1 Lakh:

Tenure Approximate Monthly Payment at 9.99% p.a. Interest Rate
1 year ₹9,073*/month
2 years ₹4,896*/month
3 years ₹3,516*/month

 

How to Calculate ₹1 Lakh Personal Loan EMI

Calculating the monthly EMI for a desired ₹1 Lakh Personal Loan involves considering several other factors along with three key components: the loan amount, the interest rate, and the repayment tenure.

The EMI is determined using the formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Where:

  • P is the principal amount (₹1,00,000)

  • R is the monthly interest rate (annual rate divided by 12)

  • N is the loan tenure in months

To simplify the process, an online EMI calculator can be used. By entering the Personal Loan amount, interest rate, and tenure, the calculator instantly provides the monthly EMI, helping borrowers plan their finances more effectively.

Different Uses of ₹1 Lakh Personal Loan

To improve the chances of getting a Personal Loan approved, especially when applying for an instant loan, it’s important to meet certain financial and documentation standards. Here are a few tips that can help ensure a smooth and successful application process:

  • Have a strong CIBIL score

  •  Review and improve the credit report

  •  Manage debt-to-income ratio

  •  Keep all the necessary documents ready

Tips for Successful Personal Loan Application

To improve the chances of getting a Personal Loan approved, especially when applying for an instant loan, it’s important to meet certain financial and documentation standards. Here are a few tips that can help ensure a smooth and successful application process:

  • Have a strong CIBIL score

  •  Review and improve the credit report

  •  Manage debt-to-income ratio

  •  Keep all the necessary documents ready

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

What’s the quickest way to get a ₹1 Lakh Personal Loan during an emergency?

In urgent situations, applying online for an instant Personal Loan is the fastest way to access funds. By submitting basic documents digitally, including Aadhaar and PAN Card, the application can be processed quickly. Once approved, the loan amount is disbursed directly to the bank account, helping manage emergency expenses without delay.

What is the interest rate associated with a ₹1 Lakh Personal Loan?

For a ₹1 Lakh Personal Loan, we at Poonawalla Fincorp offer interest rates starting from 16%* p.a., which may require a minimum monthly income.

Is it possible to get a ₹1 Lakh Personal Loan using just Aadhaar and PAN Card?

Yes, Aadhaar Card and PAN Card are commonly accepted documents for identity and address verification when applying for a ₹1 Lakh Personal Loan. These are often sufficient for initiating an instant loan application, though additional documents like income proof may be required to complete the process.

How is the EMI calculated for a ₹1 Lakh Personal Loan?

The EMI for a one Lakh loan is calculated based on the loan amount, interest rate, and chosen repayment tenure. Using an online EMI calculator can help estimate monthly instalments accurately, making it easier to plan finances.

What are the Factors that can affect ₹1 Lakh Personal Loan EMI?

Several factors, including repayment capacity, influence the EMI (Equated Monthly Instalment) for a Rs. 1 Lakh Personal Loan. These include the interest rate offered, the chosen repayment tenure, and the applicant’s credit profile. A higher interest rate or shorter tenure will result in a higher EMI, while a longer tenure may reduce the monthly outflow but increase the total interest paid, especially for those with a high credit score.

What CIBIL score is considered ideal for a ₹1 Lakh Personal Loan?

A CIBIL score of 700 or above is generally considered ideal for personal loan approval. A higher score reflects better creditworthiness and may lead to quicker approval and more favourable loan terms.

What is the minimum and maximum tenure available for repayment?

The loan can be repaid over a flexible tenure ranging from 12 to 60 months with the submission of the documents required for processing.

Is it possible to apply for a ₹1 Lakh Personal Loan without a salary slip?

While salary slips are commonly required for income verification, self-employed individuals may find that some lenders accept alternative documents such as bank statements or Form 16. The documentation requirements may vary depending on the applicant’s profile and the lender’s policies.

What happens if I miss an EMI payment?

Missing a Personal Loan EMI payment can lead to several negative consequences, including late payment fees, a drop in your credit score, and potential legal action, especially when applying for a loan of ₹1 lakh without income proof. Lenders may also increase your interest rate on future loans or deny future credit applications.