10 Lakh Personal Loan

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Max. Loan Amt.

Up to ₹75.00 Lakh

Rate of Interest

9.98% - 24.00%

Tenure up to

1 - 5 Years

Processing Fee

₹0.5%–4%

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Interest Rate on ₹10 Lakh Personal Loan

Personal loan interest rates for ₹10 lakh usually start from 9.98% p.a. The exact rate depends on factors such as:

• Credit Score (higher score = lower rate)
• Employer Category (for salaried applicants)
• Loan Tenure
• Existing Debts/Obligations

 Tip: A credit score of 750+ greatly improves your chances of getting the lowest interest rates and better terms.

Fees & Charges for ₹10 Lakh Loan

Personal Loan EMI Calculator

EMI Calculation for Rs. 10 Lakh Personal Loan

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

Eligibility Criteria for ₹10 Lakh Personal Loan

Most banks and NBFCs require the following:

• Age: 21 to 60 years

• EMI-to-Income Ratio: Typically below 50–55%; higher income may be required for larger loans

• Credit Score: 750+ is preferred

• Employment: Salaried or self-employed with stable income

• Work Experience: Minimum 1–2 years

Documents Required for ₹10 Lakh Personal Loan

• Identity Proof: PAN card & Aadhaar card

• Income Proof: Last 3 months’ salary slips (for salaried) or ITR (for self-employed)

• Bank Statements: Last 6 months

• Address Proof: Electricity bill, rent agreement, etc.

• Employment/Business Proof: Proof of current employment or business

Tips to Get Approved for a ₹10 Lakh Loan

• Maintain a credit score of 750+
• Avoid applying with multiple lenders at the same time
• Opt for a longer tenure to keep EMIs affordable
• Provide accurate and complete income proof
• Add a co-applicant if required for stronger eligibility

How a ₹10 Lakh Loan Impacts Your Credit Score

Taking a large personal loan like ₹10 lakh can affect your credit score both positively and negatively, depending on how you manage it.

Positive Impact

• Timely EMI Payments Boost Your Score: Paying EMIs on time strengthens your credit history and builds a solid repayment record.
• Demonstrates Creditworthiness: Successfully managing a large loan shows lenders your ability to handle significant credit responsibly.
   

Negative Impact

• Late or Missed EMIs Lower Your Score: Even a single delayed payment can negatively affect your credit report.
• Multiple Loan Applications Can Reduce Score: Applying to several lenders at once triggers multiple hard inquiries, which may slightly decrease your credit score.
   

 Tip: Always plan your loan repayments carefully and avoid unnecessary multiple applications to protect your credit score.