Key Features of the Personal Loan
Competitive Interest Rates
Collateral-Free Loan
Paperless Loan Application
Flexible Repayment Option
Instant Disbursal
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.
Factors Responsible for ₹1,00,000 Personal Loan Interest Rate
Get a personal 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.
Different Types of Personal Loans
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The processing time for a Rs. 1 lakh loan from Piramal Finance is 24 hours. Once we verify and approve the loan documents, we disburse the loan within 24 hours.
You can get a 1 lakh loan without collateral at Piramal Finance. Personal loans are usually unsecured, so there’s no need for collateral.
To be eligible for a loan of Rs. 1 lakh, you must have a credit score of 650 or above. Additionally, you need to have a stable monthly income, a positive credit repayment history, and fulfill specific age criteria.
To get a loan, you need to give the necessary documents like your ID, income proof, and address proof. These are the minimum documents required to process any loan application.
You need to choose Piramal Finance for an Rs. 1 lakh loan for various reasons. Some of these include:
You can get a 1 lakh loan on your Aadhar and PAN card. For an instant personal loan, you must provide essential documents like Aadhar and PAN cards for verification. With real-time KYC document verification, you can get a Rs. 1,00,000 personal loan using your Aadhar card. Linking your PAN and Aadhar cards to your mobile number simplifies verification, enabling smooth communication and speeding up loan disbursal.
