Do you need 10 lakh urgently? Whether you need the money to meet any unexpected medical expense that insurance won’t cover to pay any wedding expenses or pay for your kids’ college admission fees at some college, you can get it from us. We at Piramal Finance offer a personal loan of 10 lakh to all eligible applicants at affordable interest rates. Meet your urgent financial need in no time and enjoy easy EMI repayments for your preferred loan tenure.

Key Features of the Personal Loan

Instant Disbursal
Enjoy same-day 10 lakh personal loan disbursal at Piramal Finance. Once you fill out the application form and submit all required documents, we waste no second to start the verification procedure. We only take a few minutes or an hour to complete verification. If successful, we will approve the loan immediately and disburse the loan amount within 24 hours.
Attractive Interest Rates
Our reasonable interest rates help you get an easy and affordable 10 lakh loan EMI amount for the entire loan tenure. Get an instant 10 lakh loan from us at an interest rate starting from 12.99*%pa, which is quite competitive compared to other loan provider’s interest rates.
Paperless Loan Application
Our application process for a personal loan of 10 lakh is completely paperless and digital. Now you can get money for your urgent needs in the comfort of your home or anywhere else. You won’t have to visit the branch physically for anything, not even for KYC verification. Save yourself the hassle of managing and providing dozens of paperwork with us.
Collateral-Free Loan
We at Piramal Finance do not ask for any collateral during the personal loan application process. We ask only for your address, income, and ID proof to lessen our processing time and keep things simple. So, save yourself the trouble of mortgaging any precious asset with a personal loan from us.
Flexible Repayment Options
We allow you to select the loan repayment tenure as per your preference. If you want to pay off the loan in a year, you can do that with us. If you seek an easy and affordable 10 lakh personal loan EMI for 5 years, you can select the tenure to be five years (maximum limit)

EMI Calculation

Below is a table representing the personal loan 10 lakh EMI for 5 years, 4 years, 3 years, 2 years, and 1 year at a standard interest rate of 12.99*%pa. So, check it out:

Year Principal Amount Interest Payable Total Amount Avg. Monthly EMI Outstanding Balance
1₹ 1,67,341₹ 1,05,696₹ 2,73,037₹ 22,753₹ 8,32,659
2₹ 1,78,853₹ 94,185₹ 2,04,778₹ 17,065₹ 6,53,806
3₹ 1,90,439₹ 82,598₹ 2,73,037₹ 22,753₹ 4,63,367
4₹ 2,16,726₹ 56,311₹ 2,73,037₹ 22,753₹ 2,46,641
5₹ 2,46,641₹ 26,396₹ 2,73,037₹ 22,753₹ 0

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. Our interest rates are computed and offered to the customer based on the following factors:


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, the maximum age for applying for an instant personal loan is set at 60 years. Your ability to repay the loan will be greater if you are a younger applicant than if you are an older applicant. As a result, a younger applicant qualifies for a lower interest rate than an older applicant.

Credit Score:

For a personal loan of 10 lakh an applicant with a credit score of 750 or higher is given higher priority than other applicants. 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 low-interest loans to people with bad credit.

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.

Documents Required for Availing of a Personal Loan of Rs. 10 Lakh

When applying for a loan of 10 lakh, you need to submit some essential documents to validate your ID, address and income. This table outlines all the documents required for availing of a personal loan of 10 lakh:

Document Type For Self-Employed Individuals For Salaried Individuals
Photo ID ProofAadhaar card, driving license, passport, pan card, and voter IDVoter ID card, Pan card, passport, and aadhaar card
Residence Address ProofAadhaar card, Passport, Voter ID card, utility bills, driving licenseVoter ID card, Passport, aadhaar card, driving license, utility bills
Office Address ProofGST Registration CertificateNot Applicable
Income ProofP/L Account and Balance Sheet for the previous three years, ITRs of the last three years, bank account statement of business accountBank account statement of salary account, salary slip of the last three months, Form 16

Note: When applying for a 10 lakh loan for business, you need to provide documents like a GST Return certificate, MoA, partnership deed, etc.

Fees and Charges for Personal Loan of ₹10 Lakh

We at Piramal Finance offer a 10 lakh instant loan at reasonable interest rates and with no hidden costs. The table below represents all the fees and charges associated with such a loan on our platform:

FeesMaximum Tenor
Loan Processing ChargesUp to 4% of the loan amount, along with applicable taxes
Interest RateStarting at 12.99*% p.a.
Cheque Bounce ChargeRs. 500 + applicable taxes
Interest on Overdue EMIsRs. 500 + applicable taxes

More Personal Loans products:

Personal Loan for Home Improvement
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Personal Loan for Weddings
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Personal Loan for Travel
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.

View more

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Frequently asked questions

What is the processing time for a Rs 10 lakh personal loan?
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Can I get a personal loan of ₹10 Lakh without any collateral?
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How to get a 10 lakh Personal Loan from Piramal Finance?
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What Credit Score Do I Need For an instant 10 lakh Loan?
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Can I avail Rs 10 lakh Loan without Documents?
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Why choose Piramal Finance for a 10 lakh rupees loan?
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