Apply for Rs. 1 lakh personal loan online at affordable interest rates starting from 10.25% p.a. for medical emergencies, shopping for a gadget or latest smartphone, vacation, and so on. Rs. 1 lakh loan online can be availed easily with minimal documentation for tenure ranging between 12 to 60 months.
Generally, the personal loan application procedure differs from one bank to the other. However, almost all banks offer the facility of applying for the instant 1 lakh loan online.
It can be challenging for you to compare the interest rates of all the loan service providers and decide on the ideal option. Therefore, we make it easy for you by allowing you to compare the different 1-lakh rupees loan products on a single page.
While there are many ways of applying for a personal loan upto 1 lakh, an online application through MyMoneyMantra is the most convenient. Here is how you can apply online for a personal loan through our website.
We have almost all top banks offering one lakh loan to their customers. You can easily compare between an extensive range of loan offers online on a single page.It saves your time and effort of applying for a loan with every bank separately.
Alternatively, you can also call us at 1800 103 4004 or 9887114161 or send us an email at email@example.com to apply for the loan.
Additional Reading: How to get personal loan in Chennai?
If you wish to avail of a Rs. 1 lakh loan, you will have to meet the following personal loan eligibility criteria. Please note that the eligibility parameters may vary from one personal loan provider to another. However, the basic eligibility conditions remain the same.
Additional Reading: How to get instant loan in Delhi?
Even if you meet the eligibility criteria of the lender, you cannot avail of a 1 lakh loan without documents to prove your eligibility. The documents required for a personal loan are as follows:
Income Proof Documents
Additional Reading: Cibil Score Required for Personal Loan
Before Applying for a personal loan make sure you know the applicable rates and charges. The 1 lakh loan interest rates vary from one bank to the other. The nationalized banks offer lower rates of interest than the private sector banks. However, other financial institutions offering the 1 lakh loan scheme charge higher rates, depending on their internal loan policies.
Calculating your 1 lakh personal loan EMI is crucial as it enables you to know your monthly outflow. It helps to manage your finances better.
You can calculate your loan EMI amount for personal loan upto 1 lakh using the Personal Loan EMI Calculator available on our website by following the easy steps mentioned below.
Step 1 - Access the Financial Tools webpage on our official website.
Step 2 - Enter the loan amount, interest rate, and repayment tenure.
Step 3 - You get your personal loan EMI immediately along with the loan amortization schedule that gives you a break-up of the principal and the interest repayment portions throughout the loan tenure.
If you want a low EMI personal loan, you can try different combinations to reach the ideal EMI for you.
|Name of Bank||Rate of interest||EMI for 2 Years||EMI for 5 Years|
|State Bank of India||10.10% to 15.65% per annum||₹ 4,614||₹ 2,125|
|ICICI Bank||10.50% to 19% per annum||₹ 4,638||₹ 2,149|
|Yes Bank||10.99% onwards per annum||₹ 4,660||₹ 2,174|
|Bajaj Finserv||13% onwards per annum||₹ 4,754||₹ 2,275|
|Money Tap||13% Onwards per annum||₹ 4,754||₹ 2,275|
Additional Reading: Also know about the Debt consolidation a new single loan.
Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.
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All banks offer a 1-lakh personal loan to their customers. Ideally, it is ideal to go for the bank where you maintain your salary account or business transactions when you need 1 lac loan. It becomes easy for the bank to process your application and gauge your repayment capacity. Besides, the loyalty factor allows you a concession in the interest rates. Nevertheless, you are always free to approach any bank for the 1-lakh rupees loan. From the interest rate viewpoint, the nationalized banks are the best options, followed by the private sector banks and other financial institutions. When it comes to prompt service, the private sector banks and other institutions are better.
If you are wondering how to get 1 lakh loan immediately, you should have all the documents ready on hand. Therefore, applying online is the quickest option available today. If you upload all the documents correctly and are found eligible for the 1-lakh loan, you can get the 1-lakh immediately into your bank account.
Yes, if you want 1 lakh personal loan at the lowest interest rate, you have to satisfy the necessary conditions.
No, banks do not offer the 1-lakh loan without income proof. If you need 1 lakh loan, your income is essential for the banks to determine your repaying capacity.
Amongst all the public sector banks, SBI offers one of the most attractive interest rates on 1 lakh instant loan. The personal loan interest rates at SBI can be anything between 10.30% and 15.65% per annum, depending on various factors like income, occupation, and credit rating.
If you need 1 lakh rupees urgently, the following factors can affect the 1-lakh loan EMI:
The EMI for a 1 lakh personal loan depends on the rate of interest offered by the financial institution. Therefore, we shall assume that you opt for the maximum repayment tenure of 60 months.
|Loan Service Provider||Rate of Interest||EMI Range|
|State Bank of India||10.30% to 15.65%||2,108 to 2,413|
|ICICI Bank||10.00% to 19.00%||2,125 to 2,594|
|Yes Bank||10.99% onwards||2,174 onwards|
|Bajaj Finserv||13.00% onwards||2,275 onwards|
|Money Tap||13.00% to 24.03%||2,275 to 2,879|
If you think, “I want 1 lakh rupees loan urgently without documents”, it’s better to avoid that idea. Usually, you cannot avail of the 1-lakh loan without documents. Banks and financial institutions rely on documents to determine your identity, residence, occupation, income, and repaying capacity.