Key Features of the Personal Loan
Instant Disbursal
Attractive Interest Rates
Paperless Loan Application
Collateral-Free Loan
Flexible Repayment Options
Factors Responsible for ₹1000000 Personal Loan Interest Rate
Now getting a 10 lakh personal loan from Piramal Finance is easier. Avail of a personal loan at a reasonable interest rate starting from 12.99*%pa. We compute and offer our interest rates to the customer based on the following factors.
Age:
Your age plays a crucial role in deciding your personal loan interest rate of 10 lakh. To apply for a personal loan, you must be at least 21 years old.
However, we set the maximum age for applying for an instant personal loan at 58 years. Younger applicants have a better chance of repaying the loan compared to older applicants. As a result, a younger applicant qualifies for a lower interest rate than an older applicant.
Credit Score:
We prioritize applicants who have a credit score of 650 or higher for a 10 lakh personal loan. A person with such a credit score is more creditworthy, and their chances of obtaining a low-interest personal loan increase significantly. Piramal Finance, on the other hand, offers loans to people with low credit scores.
Employment Status:
Your 10 lakh personal loan interest rate becomes low when you have a stable employment record and steady income. Applicants working in top private sector firms, PSUs, or government agencies are less likely to default repayments as their salaries are always credited on time.
Work Experience:
A salaried person with at least two years of work experience and a self-employed person with at least a year of active business profile are both considered highly eligible for a 10 lakh loan. The more work experience you have, the better your ability to repay the loan and the lower your interest rate.
Different Types of Personal Loans
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Piramal Finance's processing time for a 10 lakh loan is 24 hours. We will process the loan within 24 hours once we verify and approve the loan documents.
Yes, you can get a 10 lakh loan without collateral at Piramal Finance. Personal loans are unsecured, so there’s no need for collateral to get such a loan. You will be saved from the hassle of pledging any asset as collateral with our 10 lakh loan.
Your eligibility for an instant 10 lakh loan depends on various factors, and your credit score is one of them. At Piramal Finance, we give equal weightage to all eligibility criteria, including credit score, monthly income, credit repayment history, age, and others. However, having a high credit score (650 or above) gives you an edge over other applicants.
If you do not provide the necessary documentation, we will deny your personal loan application of 10 lakh. You must provide documents such as your photo ID, proof of income, and proof of address for any loan application.
There are various reasons why you need to choose Piramal Finance for a 10 lakh rupees loan. Some of these include:
You can secure a 10 lakh loan on your Aadhar and PAN card, which are crucial for verification.
By swiftly verifying your KYC documents, you can conveniently secure a personal loan of 10 lakh using your Aadhar card. Associating your PAN and Aadhar cards with your mobile number simplifies the verification process, enhances communication, and accelerates loan sanctioning.
