Need a ₹10 lakh personal loan to attain financial freedom but worried about the alarming interest rates that accompany the loan? You are at the right stop because Buddy Loan is your financial solution.
Financial freedom plays a pivotal role in pursuing your dream, whether it is a desire for home renovation or an exotic vacation. Experience the ease of borrowing a 10 lakh personal loan with Buddy Loan. Connect with reputable lenders, and bid farewell to cumbersome paperwork and prolonged waiting times. Before delving further, let's clarify the primary motivation for seeking a ₹10 lakh personal loan.
Choosing to take a personal loan can be a significant financial decision as it can make or break your financial history. Financial needs tend to arise unexpectedly, and a substantial loan can provide flexibility and security.
Here are some specific scenarios where a personal loan of 10 lakhs can prove to be advantageous:
Before applying for a personal loan of 10 lakh, assess your financial situation and familiarize yourself with interest rates and other charges accompanying a ₹10 lakh personal loan.
The interest rate for a ₹10 lakh personal loan ca`n vary depending on various factors. These factors may include the lender, prevailing market conditions, and the borrower's creditworthiness. Here is fundamental information on the interest rates and charges associated with a ₹10 lakh personal loan.
|Starts at 11.99% per annum
|Could be between 0% and 2% of the loan amount
|Up to 5 years
Prior to moving forward with the loan application, check out the eligibility criteria for obtaining a ₹10 lakh personal loan.
The requirements for qualifying for a personal loan of 10 lakhs can differ among different lenders, yet some typical conditions include:
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The documentation needed for a 10 lakh personal loan can differ from one lender to another. However, presented below are some of the commonly expected documents in most cases:
The indicative interest rates and the actual rate you will be offered, may vary depending on your credit score, income, and other factors. A comparison of interest rates for ₹10 lakh personal loans from some leading lenders is presented here.
|Banks (For ₹10 Lakh Personal Loan)
|Interest Rates (p.a.)
|PNB Personal Loan
|Starts from 10.40%
|Canara Bank Personal Loan
|ICICI Bank Personal Loan
|Starts at 10.50% onwards.
|IDFC Bank Personal Loan
|IDBI Bank Personal Loan
|Bank of India Personal Loan
|10.25% p.a. onwards
|Federal Bank Personal Loan
|Bank of India Personal Loan
|Bandhan Bank Personal Loan
|Yes Bank Personal Loan
|SBI Personal Loan
|HDFC Personal Loan
|Kotak Mahindra Bank Personal Loan
|Axis Bank Personal Loan
|Bank of Baroda Personal Loan
Read LessNote- Please note that the interest rates mentioned are subject to change. Visit the website for more information..
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Accurate computation of the EMI for a Rs. 10 lakh personal loan holds significant importance. Use the personal loan emi calculator to evaluate affordability, plan their finances efficiently, compare loan options, and gain insights into interest costs. Informed decisions based on calculated EMIs lead to comfortable repayment and effective financial management over the loan term.
|Loan Paid to Date (%)
The table below presents, 5 year EMIs for a 10 lakh personal loan and respective interest rates from various banks. Here’s the EMI and loan amount of 10 lakh personal loan for 5 years.
|Kotak Mahindra Bank
To understand the benefits of a personal loan, you should be familiar with its features. Apply for a personal loan of10 Lakhs today and unlock a host of exclusive benefits. Start your application now!
Follow these steps to apply for a ₹5 lakh personal loan on Buddy Loan:
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|Also Check Other Instant Personal Loan Options
|50,000 Personal Loan
|1 Lakh Personal Loan
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|15 Lakh Personal Loan
|20 Lakh Personal Loan
|30 Lakh Personal Loan
|50 Lakh Personal Loan
|Small Cash Loans
It is possible to get a ₹10 lakh loan without income proof, but it will be more difficult and you may have to pay higher interest rates.
Choose a lender and gather the required documents. Fill out the application form and submit it. The lender will review your application and decide whether to approve it.
The EMI for a ₹10 lakh personal loan depends on the interest rate, repayment tenure, and other factors. It can range from ₹25,000 to ₹40,000 per month.
The minimum credit score required for a ₹10 lakh personal loan varies depending on the lender. However, most lenders require a credit score of at least 750 for a loan of this size.
It is not possible to get a ₹10 lakh loan without documents. Lenders must verify your identity, income, and assets before approving a loan. They cannot assess your creditworthiness without the necessary documents.
Whether or not a student can get a ₹10 lakh personal loan depends on several factors. These factors may include the student's credit score, income, and purpose for the loan.
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