Get a personal loan of up to Rs. 1 lakh from Piramal Finance at attractive interest rates that start at 12.99% p.a. We offer you interest rates based on factors such as your age, employment status, credit score, etc. Let’s learn each factor in detail:
To apply for a personal loan of up to Rs. 1 lakh, you need to be between 21 years to 60 years of age. While an older adult between 50 years to 60 years of age may have to pay a higher rate of interest due to the risk of defaulting on a personal loan, a younger adult may be considered more creditworthy to repay the loan on time and thus, they could be offered a lower rate of interest
To be eligible for an Rs. 1 lakh loan, you must have a steady job and income. This will also help you get a lower rate of interest on your loan. That’s one of the reasons why applicants from the private sector, government sector agencies, or PSUs are offered lower interest rates on their loans. This is because their salaries are always credited on time, putting them at a lesser risk of defaulting on their loan repayment.
Your credit score is another important factor that decides your interest rate. The higher your credit score, the more creditworthy you are considered and the lesser you are at defaulting on your loan repayment. This could result in a lower interest rate if you have a CIBIL score of 750 or above. However, at Piramal Finance, we offer loans with competitive interest rates even to those applicants with low credit scores.
Are you applying for a personal loan of Rs. 1 lakh? Here are some documents you must submit as part of the loan process:
You can provide any of the following documents: driving license, Aadhaar card, passport, voter’s ID, etc
For proof of ID, you can prove any of your KYC documents such as your PAN card, driving license, Aadhaar card, passport, voter’s ID, etc.
If you are a salaried individual, you must provide the lender with your bank statement for the last 6 months of your salary account, income tax, Form 16, and a salary certificate or salary slips for the last 3 months. If you are a self-employed individual, you must provide financial statements such as your balance sheet, P/L statement, income tax returns, GST registration certificate, and trade license.
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The processing time for an Rs. 1 lakh loan from Piramal Finance is 24 hours. Once the loan documents are verified and approved, the loan is disbursed within 24 hours.
You can get a 1 lakh loan without collateral at Piramal Finance. Personal loans are usually unsecured, so there’s no need for collateral.
Your eligibility for an Rs. 1 lakh loan depends on various factors such as your credit score (your credit score must be 750 or above), monthly income, credit repayment history, age, etc.
Your personal loan 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.
You need to choose Piramal Finance for an Rs. 1 lakh loan for various reasons. Some of these include: