Get a Personal Loan of ₹10 Lakh with Quick Approval
A Personal Loan is one of the best financial instruments that helps you meet your various financial requirements. A Personal Loan can be utilised for any legitimate purpose as there is no end-use restriction. You can secure a ₹10 Lakh Personal Loan for funding wedding expenses, higher education, home renovation, international travel, medical emergencies, debt consolidation, etc.
Poonawalla Fincorp offers collateral-free Personal Loans with minimal documentation and flexible repayment tenure. ,
You can easily avail of a Personal Loan of up to ₹10 Lakh (even up to ₹50 Lakh based on the eligibility criteria). Enjoy easy and simple application process and zero processing fees. Apply now!
₹10 Lakh Personal Loan EMI Calculator
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EMI Amount = *
₹10 Lakh Personal Loan Interest Rates & Charges
To enable you to fulfil your dreams, we offer Personal Loans at competitive interest rates starting at 9.99%*p.a. Here is the interest rate, processing fees, and other charges:
| Personal Loan Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% |
| Lowest EMI Per Month | Starting from ₹2124* per month for 84 months |
| Loan Tenure | 12-84 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) |
| No Other Hidden Charges | |
₹10 Lakh Personal Loan EMI for Up to 5 Years
You can calculate the ₹10 Lakh Personal Loan EMI either manually or with the help of the Personal Loan EMI Calculator. The formula for EMI calculation is as follows:
E = [P x r x (1 + r) ^ n] / [ (1 + r) ^ n – 1], where the variables are P, r, and n.
E = EMI amount
P = Loan amount
r = Rate of interest
n = Loan tenure
Calculating the EMI in advance can help you plan your finances in a better manner. However, manual calculations are time-consuming and might leave room for error. Poonawalla Fincorp offers an EMI Calculator to make your interest rate calculation easier and simpler. You just need to enter the loan amount, interest rate, and repayment tenure. The loan calculator will display the EMI amount instantly.
The EMI for a Personal Loan of ₹10 Lakh will depend on the loan tenure and interest rate. For example, ₹10 Lakh Personal Loan EMI for 5 years at 10% will be ₹21,247. You can use the EMI Calculator to know the EMI amount for different loan tenures.
| Tenure | Approximate EMI at 10% interest rate |
| 2 years | ₹46,145/month |
| 3 years | ₹32,267/month |
| 4 years | ₹25,363/month |
| 5 years | ₹21,247/month |
Eligibility Criteria to Get a Personal Loan of ₹10 Lakh
A Personal Loan from Poonawalla Fincorp is just what you need to fulfil all your financial requirements in the best possible way. To ensure that the maximum number of people can benefit from this loan, we have kept our ₹10 Lakh Personal Loan eligibility criteria very easy and simple. The eligibility criteria that you need to fulfil are as follows:
Age
Citizenship
Employment
Work experience
Monthly Income
- Age – Between 21 and 60 years
- Citizenship – The applicant must be an Indian citizen.
- Employment – Full-time with a public limited, private limited company, etc.
- Work experience – Overall at least 1 year with a minimum of 1 month in the current company
- Monthly income – minimum ₹30,000
In addition to this, you must have a good credit score and credit history to get a Personal Loan online without any hassle.
Documents Required for ₹10 Lakh Personal Loan
Gone are the days when you had to deal with lengthy paperwork. Poonawalla Fincorp offers a Personal Loan with minimal documentation requirements, so that there are no delays or hassles when applying for a loan. You just need to provide the following list of documents:
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KYC documents
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Address Proof
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Income Documents
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Financial Documents
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Employment Proof
- KYC Documents – PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
- Address Proof – Utility bills/rent agreement/passport
- Income Documents - Latest salary slip
- Financial Documents - Bank statement for the last 3 months
- Employment Proof - Employee ID Card or official Email ID confirmation
Features and Benefits of ₹10 Lakh Personal Loan
At Poonawalla Fincorp, we strongly believe in helping our customers get the financing they require easily and quickly. Here’s a list of features and benefits of a ₹10 Lakh Personal Loan:
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Competitive Interest Rates
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Collateral-Free Loan
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Flexible Repayment Tenure
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High Loan Amount
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Online Application Process
- Competitive Interest Rates: We offer a loan at competitive interest rates starting at 9.99%* p.a.
- Collateral-Free Loan: This is an unsecured loan, and you can get it without pledging any collateral.
- Flexible Repayment Tenure: We provide a flexible repayment tenure that ranges from 12 to 84 months. You can choose the repayment tenure as per your repayment capacity.
- High Loan Amount: We offer a Personal Loan of up to ₹50 Lakh based on the eligibility criteria. You can avail of a high loan amount to meet your financial requirements without any compromise.
- Online Application Process: We have simplified the Personal Loan application process. You can apply for a ₹10 Lakh Loan online in just a few clicks.
How to Apply for ₹10 Lakh Personal Loan
Getting a Personal Loan from Poonawalla Fincorp is easy. You just need to follow the steps mentioned below to apply for a ₹10 Lakh Personal Loan:
- Click on the “Apply Now” button.
- Fill out the application form with the required details. Make sure that the information does not contain any errors.
- Upload the list of documents.
- Once you are done, our loan expert will verify your documents.
- Upon successful verification, the loan will be credited to your bank account.
Apply for ₹10 Lakh Personal Loan within 5 Minutes
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Frequently Asked Questions
The ₹10 Lakh Personal Loan EMI will depend on the interest rate and the chosen repayment tenure. For example, ₹10 Lakh Personal Loan EMI for 5 years at 10% will be ₹21,247. Please note that this amount will change with the changes in interest rates, and repayment tenure. You can use the ₹10 Lakh Loan EMI Calculator to calculate the loan EMI yourself.
The borrower must have a monthly salary of ₹30,000 to be eligible for a ₹10 Lakh loan.
Yes, you can borrow a loan from Poonawalla Fincorp provided you meet our ₹10 Lakh Personal Loan eligibility criteria.
To apply for a ₹10 Lakh Personal Loan from Poonawalla Fincorp, follow these steps:
- Step 1: Click on the “Apply Now” button on our website.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan will be transferred to your bank account.
The interest rate for ₹10 Lakh Personal Loan starts from 9.99%* p.a.
We generally process applications promptly and send approved sanctions instantly, provided you meet our eligibility criteria and submit the required documents.
*T&C Apply
