Have you ever thought to yourself, “I need Rs. 1 lakh urgently”? Whether it is to fund your higher education, a dream wedding, a long-awaited holiday, medical expense, or a sudden home renovation that needs to be done. We’re sure, at some point in time, the thought of needing the money has definitely crossed your mind. But did you know that having such kind of money is now easy? At Piramal Finance, we offer a personal loan of Rs. 1 lakh to all eligible applicants at competitive interest rates and easy repayment options.

How to get a 1 lakh Personal Loan from Piramal Finance?

You can easily apply for a 1 lakh rupees loan at Piramal Finance. Simply follow these steps:

  • Step 1 - Click on Apply Now and start your Personal Loan for 1 lakh Page application
  • Step 2 - Enter your mobile number linked to your bank account.
  • Step 3 - Enter the OTP received on your mobile number.
  • Step 4 - Enter the required document and verify the same
  • Step 5 - Bank account verification
  • Step 6 - Income Verification
  • Step 7 – Check the Loan Final Offer, Accept, and continue the final process.

After completing the final process within 24 hours, the personal loan for 1 lakh will get credited to your verified bank account.

Key Features of the Personal Loan

Competitive Interest Rates

The rate of interest plays an important role in deciding your personal loan EMI. Therefore, we offer competitive interest rates that help applicants get an affordable EMI amount for the entire loan tenure. Now get your Rs. 1 lakh loan instantly with an interest rate that starts at 12.99% p.a.

Collateral-Free Loan

At Piramal Finance, we do not ask for collateral during the personal loan application process. We only ask for details and proof of your address, ID, and income. This helps simplify the process and saves you from the trouble of mortgaging precious assets.

Paperless Loan Application

The documentation process for an Rs. 1 lakh loan is completely paperless and 100% digital. Now, finance your needs from the comfort of your home as you do not need to visit the branch physically for any paperwork. We ensure we keep the process simple so that you have a hassle-free journey while applying for a personal loan.

Flexible Repayment Option

At Piramal Finance, we offer you repayment options as per your preference. The shorter the tenure, the bigger the EMI, and vice versa. You can opt for a tenure as short as 1 year or as long as 5 years.

Instant Disbursal

You can now get your loan amount disbursed instantly. Once you fill out the application form and submit all your documents, we do not wait any longer to begin the verification process. We take a few minutes up to an hour to complete the verification, and if all goes well, we approve the loan immediately. Once approved, the loan amount will be disbursed within 24 hours.

EMI Calculation

Do you want to know the EMI for a loan of Rs. 1 lakh at an annual interest rate of 12.99% for 5 years / 60 months? Your EMI calculation will look like this:

Year Principal Amount Interest Payable Total Amount Avg. Monthly EMI Outstanding Balance
1₹ 16,997₹ 10,308₹ 27,304₹ 2275₹ 83,003
2₹ 16,915₹ 10,388₹ 27,304₹ 2275₹ 66,088
3₹ 19,250₹ 8,053₹ 27,304₹ 2275₹ 46,838
4₹ 21,907₹ 5,396₹ 27,304₹ 2275₹ 24,931
5₹ 24,931₹ 2,372₹ 27,304₹ 2275₹ 0

Factors Responsible for ₹100000 Personal Loan Interest Rate

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

Employment Status:

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.

Credit Score:

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.

Documents Required for Availing of a Personal Loan of Rs. 1 Lakh

Are you applying for a personal loan of Rs. 1 lakh? Here are some documents you must submit as part of the loan process:

Address Proof:

You can provide any of the following documents: driving license, Aadhaar card, passport, voter’s ID, etc

ID Proof:

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.

Income Proof:

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.

Fees and Charges for Personal Loan of ₹1 Lakh

Get a personal loan of Rs. 1 lakh at attractive interest rates and no hidden costs. Here is a table that represents our fees and charges.

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
Pre-closure4% of the loan amount + applicable taxes
Loan cancellationInterest accrued & due + applicable taxes

Types of Personal Loans:

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वारंवार विचारलेले प्रश्न

What is the processing time for an Rs. 1 lakh personal loan?
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Can I get a personal loan of Rs. 1 lakh without any collateral?
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What credit score do I need for an instant Rs. 1 lakh loan?
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Can I avail Rs. 1 lakh loan without documents?
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Why choose Piramal Finance for an Rs. 1 lakh loan?
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