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

Instant loans up to 1 lakh
Flexible repayment tenure: Usually between 12-42 months
Minimal documentation required
Quick loan processing and disbursal
An unsecured loan, no collateral or guarantor required

Benefits of 1 lakh personal loan

Funds available for a wide range of purposes
Helps to cover unexpected expenses
No need to dip into savings or investments
Easy to manage monthly repayments
Improves credit score when repaid on time
No restriction on the end-use of the loan
Affordable interest rates, making it an accessible borrowing option

Personal Loan Emi Calculator

Calculate your EMI instantly and make informed borrowing decisions

Loan Amount

₹ 5 K ₹ 5 L

Time to Repay (Tenure)

Years

0.25 Years 3.5 Years

Rate of Interest

12.75 % 44 %

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Your EMI Amount

₹

‌ Total Payment

‌ Interest Payable

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Eligibility Criteria of Rs. 1 Lakh Loan

Following are some eligibility criteria for an Rs. 1 lakh personal loan from IIFL Finance:

Age: The borrower should be between 23 to 60 years of age for salaried and 25 to 65 years of age for self-employed.
Income: The borrower should have a regular source of income, with a minimum monthly income of Rs. 15,000.
Employment:The borrower should be employed or self-employed with a stable job or business.
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.

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Identity Proof

You need to provide proper identity proof by providing any one of the documents between an Aadhaar card, PAN card, driving license, voter ID card, or passport.

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Address Proof

You need to provide valid address proof by providing any one of the documents, between an Aadhaar card, utility bill (electricity, water, gas), passport, driving license, or rental agreement.

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Income Proof

To grab the instant 1 lakh loan offer, you must provide the salary slips for the last 3 months, bank statements for the last 3 months, or ITR (Income Tax Return) for the last 2-3 years for self-employed individuals.

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Employment Proof

If you are a salaried person, you must provide an offer letter, an appointment letter from your current employer, or a letter from the HR department confirming employment.

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.

Wedding Loan Relieves you from the initial burden of EMIs ‌ ‌