Get a Loan of ₹10 Lakh With Quick Approval!
A ₹10 Lakh Personal Loan can help you manage significant expenses such as medical emergencies or wedding costs without disturbing your savings or investments. By choosing a loan with clear terms and a structured repayment schedule, you can handle these financial needs in a more organised way. With Poonawalla Fincorp, you benefit from a fully digital application process, along with quick approval and fast disbursal of funds when you apply for a ₹10 Lakh Personal Loan. Apply now!
Check Monthly EMI for ₹10 Lakh Personal Loan
At Poonawalla Fincorp, we offer a user-friendly Personal Loan EMI Calculator. Simply enter the loan amount, whether it’s ₹10 Lakh or another amount you wish to borrow, a suitable tenure, and the interest rate. You’ll get an instant estimate of your monthly payments. This helps you choose a tenure that aligns perfectly with your budget.
Why Choose Poonawalla Fincorp
Collateral-free Loan
Attractive Interest Rate
MinimalDocumentation
FlexibleRepayment Option
Zero ForeclosureCharges
No HiddenCharges
Apply for a Personal Loan Online in Just 3 Steps
Click on “Apply Now”
Tap the “Apply Now”button to initiate your application.
Enter Details
Enter your DOB, PAN card number, monthly income, KYC details and residential details.
Upload Documents
Upload the necessary documents for quicker approval.
On successful verification, the loan amount will be disbursed into your bank account instantly.
To ensure a smooth and responsible lending process, we have defined clear and simple eligibility criteria.
| Age | Between 21 and 60 years |
| Citizenship | Indian |
| Work Experience | A minimum of 1 year of total experience and 1 month of experience with the current employer. |
| Monthly Salary | A minimum of ₹30,000. |
| Employment Status | Full-time job with Central Government, MNC, Private Ltd, LLP, Public Limited Company, or internally listed firms |
To apply for our ₹10 Lakh Personal Loan, please keep the following essential documents ready.
| KYC Documents | PAN Card, Voter ID, Passport, Driving License, or Aadhaar Card |
| Address Proof | Utility Bills, Rent Agreement or Passport |
| Income Proof | Salary slips for the past 1 month |
| Financial Proof | Bank account statements for the past 3 months |
| Employment Proof | Official mail ID or employee ID card (in case office email ID is not confirmed). |
Learn more about the documents required for a loan of ₹10 Lakh.
At Poonawalla Fincorp, we are committed to providing transparent information about our rates and charges. The final ₹10 Lakh Personal Loan interest rate offered to you will depend on factors like your credit score, income, and our internal credit policies.
| Interest Rate | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fee | Up to 3% plus applicable taxes |
| Lowest EMI Per Month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12-84 months |
| Prepayment/Foreclosure Charges | 1. Before repayment of the first six EMIs: i) If Foreclosure or Prepayment is done, including balance transfer from another financial institution, 4 % on the amount being prepaid plus applicable taxes. 2. After repayment of the first six EMIs: i) If Foreclosure or Prepayment is done from the own funds of the Borrower - Nil charges. ii) If Foreclosure or Prepayment is done by any other source, including by balance transfer from another bank/financial institution, 4% on the amount being prepaid plus applicable Taxes. |
| Default Charges | 24% p.a. + taxes |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
The example below illustrates the estimated EMI and total repayment for a ₹10 Lakh Loan at the given interest rate and tenure.
- Loan Amount: ₹10 Lakh
- Interest Rate: 9.99% p.a.
- Loan Tenure: 5 years (60 months)
- EMI: ₹21,374*
- Total Interest Payable: ₹2,82,249
- Total Repayment Amount: ₹10,00,000 + ₹2,82,249 = ₹12,82,249
(Note: This excludes processing fees, taxes, and any other applicable charges.)
A Personal Loan of ₹10 Lakh provides you with the flexibility to use the funds for any legitimate purpose. Here are some of the common reasons to apply for this loan:
- Higher Education: A ₹10 Lakh Loan can be used to cover the costs of higher education, whether for yourself or your child, both in India and abroad.
- Wedding Expenses: This loan can help manage wedding expenses, making it easier to plan the event without worrying about immediate financial strain.
- Home Renovation: You can use the funds to renovate or upgrade your home, whether it’s updating interiors or adding extensions for more space.
- Medical Emergencies: If an unexpected medical situation arises, this loan can help cover medical bills, offering peace of mind during stressful times.
- Debt Consolidation: Use the loan to consolidate high-interest debts, simplifying your finances by combining multiple loans into a single, easy-to-manage EMI.
- Travel: If you’ve been planning a family vacation, this loan can assist in covering the travel expenses, allowing you to enjoy the trip without financial worries.
Our ₹10 Lakh Personal Loan is designed to cater to the needs of salaried professionals across various sectors who have a stable source of income and a good credit history.
- Salaried Doctors: Individuals working as doctors in hospitals or clinics may be eligible due to their consistent income and established professional standing.
- Salaried Company Secretaries: Eligibility also extends to individuals serving as company secretaries in corporate organisations, supported by their stable income and governance responsibilities.
- Salaried Chartered Accountants: Chartered Accountants working in established firms or organisations can apply for a ₹10 Lakh Loan, benefiting from their reliable income and professional qualifications.
To ensure your loan application is processed quickly and approved without any delays, it is helpful to be prepared. Following these simple tips can improve your chances of a successful application.
- Maintain a Good Credit Score: A high CIBIL score, preferably 750 or above, increases your chances of loan approval and ensures a smoother process.
- Provide Accurate Information: Make sure all the details you enter in your application are correct, as discrepancies can delay the approval process.
- Keep Documents Ready: Prepare all the required documents in digital format, so you can upload them quickly when needed.
- Check Eligibility Before Applying: Confirm that you meet the basic eligibility criteria before submitting your application to avoid unnecessary rejections.
- Demonstrate Repayment Capacity: A stable income and a low debt-to-income ratio show that you can repay the loan without difficulty.
A ₹10 Lakh Personal Loan from Poonawalla Fincorp offers several advantages, especially if you want quick access to funds with predictable repayments.
- No Collateral Required: You can get a ₹10 Lakh Loan without pledging assets such as property, gold, or any other security.
- Quick Access to Sizeable Funds: Once approved, the loan amount can be disbursed quickly, helping you manage large expenses without long waiting periods.
- Flexible Repayment Options: You can select a repayment tenure that suits your monthly income and overall financial planning.
- Fixed EMIs for Better Budgeting: With fixed monthly instalments, it becomes easier to plan and manage your regular expenses.
- Digital and Paperless Process: The application can be completed online with minimal documentation, reducing the need for physical paperwork.
Happy Customers, Happy Us
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
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Frequently Asked Questions
There are no foreclosure charges if you pay the amount from your own sources. However, upon payment from other sources, a charge of 4% on the outstanding loan amount will be levied.
A CIBIL score of over 700 increases your chances of getting approved for our ₹10 Lakh Personal Loan with good repayment terms.
The interest rate depends on factors such as your credit score, income, employment stability, and internal credit assessment.
Yes, personal loans offer flexibility and can be used for various legitimate expenses such as education, travel, medical needs, or home improvement.
Yes, having a stable income is generally preferred when applying for a ₹10 Lakh Personal Loan, as it indicates your ability to repay the loan comfortably through regular EMIs.
Yes, you can choose to repay the loan before the scheduled tenure through foreclosure or prepayment, subject to the applicable terms and charges.
Yes, you can select a repayment tenure within the available range so that the EMI fits comfortably within your monthly budget.
Yes, certain documents such as identity proof, address proof, income proof, and bank statements are required during the application process.