Fulfil Immediate Needs With ₹1 Lakh Personal Loan
Managing unexpected expenses becomes easier with access to a Personal Loan of ₹1 lakh. Whether it's a sudden medical bill, urgent travel, or home-related repairs, a 1 lakh loan is ideal for covering short-term financial gaps. An instant Personal Loan ensures quick disbursal through a fully digital process, allowing applicants to receive funds without delays or extensive paperwork.
With flexible repayment options and competitive interest rates, borrowers can maintain financial stability while addressing immediate needs, making it a source of quick financial assistance. Choosing a hassle-free ₹1 Lakh Personal Loan offers a reliable way to handle urgent situations with confidence and convenience. Apply now!
EMI Calculator for Personal Loan of ₹1 Lakh
Use our Personal Loan EMI calculator to accurately calculate your monthly repayments and payable EMIs during the application process. Enter your desired loan amount, tenure, and interest rate. Try now!
Why Choose Poonawalla Fincorp
Collateral-freeLoan
Attractive Interest Rates
No End-use Restriction
Minimal Documentation
FastDisbursal
Flexible Repayment Tenure
Check eligibility criteria for ₹one lakh Personal Loan:
- Citizenship: Indian.
- Age: 24 to 55 years.
- Employment: Salaried and Self Employed, Full-time job with a government entity, public/private limited company, LLP, educational institution, or a company approved by Poonawalla Fincorp.
- Annual Household Income: Minimum ₹3 Lakh.
Keep the following documents handy while applying for the ₹1 Lakh loan:
- KYC Documents: PAN Card and Aadhaar Card
Poonawalla Fincorp offers loans at attractive interest rates with nominal charges:
2. If Foreclosure or Prepayment is done by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes
Check the payable EMIs for up to 3 years for Personal Loan of ₹1 Lakh:
| Tenure | Approximate Monthly Payment at 9.99% p.a. Interest Rate |
| 1 year | ₹9,073*/month |
| 2 years | ₹4,896*/month |
| 3 years | ₹3,516*/month |
Calculating the monthly EMI for a desired ₹1 Lakh Personal Loan involves considering several other factors along with three key components: the loan amount, the interest rate, and the repayment tenure.
The EMI is determined using the formula:
EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]
Where:
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P is the principal amount (₹1,00,000)
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R is the monthly interest rate (annual rate divided by 12)
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N is the loan tenure in months
To simplify the process, an online EMI calculator can be used. By entering the Personal Loan amount, interest rate, and tenure, the calculator instantly provides the monthly EMI, helping borrowers plan their finances more effectively.
To improve the chances of getting a Personal Loan approved, especially when applying for an instant loan, it’s important to meet certain financial and documentation standards. Here are a few tips that can help ensure a smooth and successful application process:
-
Have a strong CIBIL score
-
Review and improve the credit report
-
Manage debt-to-income ratio
-
Keep all the necessary documents ready
To improve the chances of getting a Personal Loan approved, especially when applying for an instant loan, it’s important to meet certain financial and documentation standards. Here are a few tips that can help ensure a smooth and successful application process:
-
Have a strong CIBIL score
-
Review and improve the credit report
-
Manage debt-to-income ratio
-
Keep all the necessary documents ready
Happy Customers, Happy Us
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
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Frequently Asked Questions
In urgent situations, applying online for an instant Personal Loan is the fastest way to access funds. By submitting basic documents digitally, including Aadhaar and PAN Card, the application can be processed quickly. Once approved, the loan amount is disbursed directly to the bank account, helping manage emergency expenses without delay.
For a ₹1 Lakh Personal Loan, we at Poonawalla Fincorp offer interest rates starting from 16%* p.a., which may require a minimum monthly income.
Yes, Aadhaar Card and PAN Card are commonly accepted documents for identity and address verification when applying for a ₹1 Lakh Personal Loan. These are often sufficient for initiating an instant loan application, though additional documents like income proof may be required to complete the process.
The EMI for a one Lakh loan is calculated based on the loan amount, interest rate, and chosen repayment tenure. Using an online EMI calculator can help estimate monthly instalments accurately, making it easier to plan finances.
Several factors, including repayment capacity, influence the EMI (Equated Monthly Instalment) for a Rs. 1 Lakh Personal Loan. These include the interest rate offered, the chosen repayment tenure, and the applicant’s credit profile. A higher interest rate or shorter tenure will result in a higher EMI, while a longer tenure may reduce the monthly outflow but increase the total interest paid, especially for those with a high credit score.
A CIBIL score of 700 or above is generally considered ideal for personal loan approval. A higher score reflects better creditworthiness and may lead to quicker approval and more favourable loan terms.
The loan can be repaid over a flexible tenure ranging from 12 to 60 months with the submission of the documents required for processing.
While salary slips are commonly required for income verification, self-employed individuals may find that some lenders accept alternative documents such as bank statements or Form 16. The documentation requirements may vary depending on the applicant’s profile and the lender’s policies.
Missing a Personal Loan EMI payment can lead to several negative consequences, including late payment fees, a drop in your credit score, and potential legal action, especially when applying for a loan of ₹1 lakh without income proof. Lenders may also increase your interest rate on future loans or deny future credit applications.