Key Features of the Personal Loan
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:
Age:
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.
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Frequently asked questions
Piramal Finance's processing time for a 10 lakh instant loan is 24 hours. We will process the loan within 24 hours after the loan documents have been verified and approved.
Yes, you can get a 10 lakh loan without collateral at Piramal Finance. Personal loans are unsecured, so there’s no need for collateral to get such a loan. You will be saved from the hassle of pledging any asset as collateral with our 10 lakh loan.
You can easily apply for a personal loan of up to 10 lakh at Piramal Finance. Simply follow these steps:
After completing the final process within 24 hours, the personal loan 10 lakh will get credited to your verified bank account.
Your eligibility for an instant 10 lakh loan depends on various factors, and your credit score is one of them. At Piramal Finance, we give equal weightage to all eligibility criteria, including credit score, monthly income, credit repayment history, age, and others. However, having a high credit score (750 or above) gives you an edge over other applicants.
Your personal loan 10 lakh EMI application will be denied if you do not provide the required documentation. Documents such as your photo ID, proof of income, and proof of address are required for any loan application.
There are various reasons why you need to choose Piramal Finance for a 10 lakh rupees loan. Some of these include:
