Do you urgently need a 1 lakh loan? We can help with education, weddings, vacations, medical bills, and home repairs.
We are sure that at some point, you have considered needing money. But did you know that having such money is now easy? At Piramal Finance, we offer eligible applicants a personal loan of 1 lakh. Our interest rates are low, and we provide flexible repayment options.
How to get a 1 lakh Personal Loan from Piramal Finance?
You can easily apply for a 1 lakh loan at Piramal Finance. Simply follow these steps:
Step 1: Click on Apply Now and start your 1 lakh Loan application
Step 2: Enter your mobile number linked to your bank account.
Step 3: Enter the OTP received on your mobile number.
Step 4: Enter the required document and verify the same.
Step 5: Bank account verification.
Step 6: Income Verification.
Step 7: Check the Loan Final Offer, Accept, and continue the final process.
Once the final process is completed, the 1 lakh loan will be deposited into your verified bank account within 24 hours.
Key Features of the Personal Loan
Competitive Interest Rates
The rate of interest plays an important role in deciding your personal loan EMI. Therefore, we offer competitive interest rates that help applicants get an affordable EMI amount for the entire loan tenure. Now get your 1 lakh loan instantly with an interest rate that starts at 12.99% p.a.
Collateral-Free Loan
At Piramal Finance, we do not ask for collateral during the personal loan application process. We only ask for details and proof of your address, ID, and income. This helps simplify the process and saves you from the trouble of mortgaging precious assets.
Paperless Loan Application
The documentation process for a Rs. 1 lakh loan is completely paperless and 100% digital. Now, you can easily fund your needs from home without having to go to the branch for any paperwork. We ensure we keep the process simple so that you have a hassle-free journey while applying for a personal loan.
Flexible Repayment Option
At Piramal Finance, we offer you repayment options as per your preference. The shorter the tenure, the bigger the EMI, and vice versa. You can opt for a tenure as short as 1 year or as long as 5 years.
Instant Disbursal
You can now get your one lakh loan amount disbursed instantly. Once you complete the application form and submit all your documents, we will start verifying immediately.
We take a few minutes to complete the verification, and if all goes well, we approve the loan immediately and will disburse the loan amount to your verified bank account within 24 hours.
EMI Calculation
The below table represents the monthly instalment for a loan of 1 lakh at 12.99% interest for 5 years / 60 months. Your EMI calculation will look like this:
EMI Calculation
The below table represents the monthly instalment for a loan of 1 lakh at 12.99% interest for 5 years / 60 months. Your EMI calculation will look like this:
-
Labels:
- Year
- Principal Amount
- Interest Payable
- Total Amount
- Avg. Monthly EMI
- Outstanding Balance
-
Row 1:
- 1
- ₹ 16,997
- ₹ 10,308
- ₹ 27,304
- ₹ 2,275
- ₹ 83,003
-
Row 2:
- 2
- ₹ 16,915
- ₹ 10,388
- ₹ 27,304
- ₹ 2,275
- ₹ 66,088
-
Row 3:
- 3
- ₹ 19,250
- ₹ 8,053
- ₹ 27,304
- ₹ 2,275
- ₹ 46,838
-
Row 4:
- 4
- ₹ 21,907
- ₹ 5,396
- ₹ 27,304
- ₹ 2,275
- ₹ 24,931
-
Row 5:
- 5
- ₹ 24,931
- ₹ 2,372
- ₹ 27,304
- ₹ 2,275
- ₹ 0
Factors Responsible for ₹1,00,000 Personal Loan Interest Rate
Get an instant loan of Rs. 1 lakh from Piramal Finance at attractive interest rates that start at 12.99% p.a. We offer you interest rates based on factors such as your age, employment status, credit score, etc. Let’s learn each factor in detail:
-
Age:
- To get a loan of Rs. 1 lakh, you must be aged between 21 and 58. While an older adult between 50 years to 58 years of age may have to pay a higher rate of interest due to the risk of defaulting on a personal loan, a younger adult may be considered more creditworthy to repay the loan on time, and thus, they could be offered a lower rate of interest.
-
Employment Status:
- To be eligible for a Rs. 1 lakh personal loan, you must have a steady job and income. This will also help you get a lower rate of interest on your loan. Applicants from the private sector, government agencies, or PSUs get lower loan interest rates for this reason. Their salaries are always credited on time, putting them at a lesser risk of defaulting on their loan repayment.
-
Credit Score:
- Your credit score is another important factor that decides your interest rate. The higher your credit score, the more creditworthy you are considered and the lesser you are at defaulting on your loan repayment. This could result in a lower interest rate if you have a CIBIL score of 650 or above.
However, at Piramal Finance, we offer loans with competitive interest rates even to those applicants with low credit scores.
- Your credit score is another important factor that decides your interest rate. The higher your credit score, the more creditworthy you are considered and the lesser you are at defaulting on your loan repayment. This could result in a lower interest rate if you have a CIBIL score of 650 or above.
Documents Required for Availing of a Personal Loan of Rs. 1 Lakh
Need a 1 lakh loan urgently? Here are some digital documents you must upload for immediate approval and disbursement as part of the loan process.
Documents Required for Availing of a Personal Loan of Rs. 1 Lakh
Need a 1 lakh loan urgently? Here are some digital documents you must upload for immediate approval and disbursement as part of the loan process.
-
Labels:
- Document Type
- For Self-Employed Individuals
- For Salaried Individuals
-
Row 1:
- ID Proof
- Aadhaar card, driving license, passport, pan card, voter id
- Aadhaar card, driving license, passport, pan card, voter id
-
Row 2:
- Residence Address Proof
- Aadhar card, voter id, utility bills, driving license
- Aadhar card, voter id, utility bills, driving license
-
Row 3:
- Office Address Proof
- GST registration certificate
- Not applicable
-
Row 4:
- Income Proof
- P/L account and balance sheet for the previous three years, ITRs for the last three years, bank account statement of business account
- Bank account statement of salary account, salary slip of the last three months, form 16
Fees and Charges for Personal Loan of ₹1 Lakh
Get a personal loan of Rs. 1 lakh at attractive interest rates and no hidden costs. Here is a table that represents our fees and charges.
Fees and Charges for Personal Loan of ₹1 Lakh
Get a personal loan of Rs. 1 lakh at attractive interest rates and no hidden costs. Here is a table that represents our fees and charges.
-
Labels:
- Features & Fees
- Details
-
Row 1:
- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards.
-
Row 2:
- Loan Amount
- ₹ 25,000 to ₹ 5,00,000.
-
Row 3:
- Processing Fees
- Up to 5% plus applicable taxes.
-
Row 4:
- Loan Tenure
- 3 - 60 months tenure
-
Row 5:
- Prepayment Charges
- ₹ 0
-
Row 6:
- Foreclosure Charges
- ₹ 0
-
Row 7:
- Stamp Duty
- At actuals (as per state)
-
Row 8:
- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 9:
- EMI Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 10:
- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
-
Row 11:
- Cash Collection Charges
- 1% of collection amount of ₹ 50,000 and above in cash + taxes
-
Row 12:
- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
-
Row 13:
- Loan Cancellation after Disbursement
- Interest accrued & due plus applicable taxes
-
Row 14:
- Loan Repayment Schedule (applicable for physical copies only)
- ₹ 500 plus applicable taxes
-
Row 15:
- Change of Loan Repayment Mode
- ₹ 1,000 plus applicable taxes
Different Types of Personal Loans
Home Improvement Loan
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Travel Loan
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Emergency Loan
Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
Loan for Women
Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.
Loan for Salaried Employees
Unlock financial flexibility with a personal loan designed exclusively for salaried employees. Get the loan quickly and conveniently.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
Personal Loan for Bike
Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.
Get a Personal Loan from the Nearest Piramal Finance Branch
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Frequently asked questions
A minimum credit score of 700 is generally required. However, we also evaluate other factors like:
- Income stability
- Repayment history
- Age and employment type
You need basic documentation to verify your identity and eligibility to get a loan. You will need:
- PAN card
- Aadhaar card
- Income proof (salary slips or bank statements)
- Address proof
These help us process your application faster and ensure compliance.
For various reasons, you must choose Piramal Finance for a Rs. 1 lakh loan. Some of these include:
- 100% digital and paperless loan process
- Collateral-free loan application procedure
- Attractive and competitive interest rates
- Flexible loan repayment tenures
- Quick verification and approval
- Convenient, instant, same-day disbursal
- User-friendly, 24/7 customer support service