Personal Loan of Rs. 1 Lakh
A one lakh personal loan is a great funding option if you need funds for various purposes, such as medical emergencies, home repairs, or debt consolidation. You can avail of the amount quickly and with minimal documentation, making it an attractive option for those who require urgent money.
However, before applying for it, you must take a close look at the terms and conditions of any loan. Factors like the interest rate, repayment period, and processing fees can impact the cost of the loan. Our personal loan page provides comprehensive details on how to obtain a 1 lakh personal loan. Head over to our 1 lakh personal loan page and get started on your journey towards financial freedom!
Features & Benefits of Rs. 1 Lakh Personal Loan
Features of 1 lakh personal loan
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Instant loans up to 1 lakh
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Flexible repayment tenure: Usually between 12-42 months
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Minimal documentation required
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Quick loan processing and disbursal
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An unsecured loan, no collateral or guarantor required
Benefits of 1 lakh personal loan
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Funds available for a wide range of purposes
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Helps to cover unexpected expenses
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No need to dip into savings or investments
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Easy to manage monthly repayments
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Improves credit score when repaid on time
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No restriction on the end-use of the loan
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Affordable interest rates, making it an accessible borrowing option
Personal Loan EMI Calculator
Eligibility Criteria of Rs. 1 Lakh Loan
Following are some eligibility criteria for an Rs. 1 lakh personal loan from IIFL Finance:
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Age: The borrower should be between 23 to 60 years of age for salaried and 25 to 65 years of age for self-employed.
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Income: The borrower should have a regular source of income, with a minimum monthly income of Rs. 15,000.
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Employment:The borrower should be employed or self-employed with a stable job or business.
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Credit Score: The borrower should have a high credit score (750 or above) with no history of defaulting on loans or credit cards.
Documents Required for Rs. 1 Lakh Loan
Here are the documents generally required to apply for an Rs. 1 lakh personal loan.
Rs. 1 Lakh Personal Loan EMI for 1-5 Years Tenure
Before you commit to a one lakh loan, it's essential to understand its costs, including the interest rate, loan term, and monthly EMI. This also helps to make an informed decision and assists you in choosing the best suits your financial needs.
How to apply for Rs. 1 Lakh Personal Loan from IIFL Finance
The personal loan application process is simple, fast, and hassle-free. To qualify for an immediate personal loan, follow the steps below:
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Click on Apply now.
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Complete the online application form with the necessary information, and then confirm the OTP given to the mobile number you entered.
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Confirm your KYC information to check eligibility.
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Choose your desired loan amount up to Rs. 5 lakhs.
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To finish your application, click "Submit".
Find the Right Personal Loan for You
When looking for a personal loan, it's important to find one that suits your specific needs and financial situation. Here are other personal loans offered by IIFL Finance.
1 Lakh Personal Loan FAQs
IIFL Finance aims to disburse loans within 24 hours into your bank account, making it a quick option for urgent loans like Rs. 1 lakh.
No, IIFL Finance does not provide a 1 lakh loan without documents or income proof.
It is difficult for those with low CIBIL scores to avail of a personal loan of Rs. 1 lakh as creditworthiness is a part of the eligibility criteria.
The EMI depends on the loan tenure and interest rate. It can be calculated using an online EMI calculator.
The monthly interest depends on the loan tenure and interest rate. It can be calculated using an online EMI calculator.
Yes, students can apply for a personal loan of up to Rs. 1 lakh from IIFL Finance, provided they meet the eligibility criteria and have a steady source of income.
The instant loan up to 1 lakh from IIFL Finance can be repaid through Equated Monthly Instalments (EMIs) using post-dated cheques, automatic debit or online payment modes.
IIFL Personal Loan
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