1 Lakh Loan - First Attempt Financial Solutions

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1 Lakh Personal Loan

Apply for Rs. 1 lakh personal loan online at affordable interest rates starting from 10.25% p.a. for medical emergencies, shopping for a gadget or latest smartphone, vacation, and so on. Rs. 1 lakh loan online can be availed easily with minimal documentation for tenure ranging between 12 to 60 months.

Generally, the personal loan application procedure differs from one bank to the other. However, almost all banks offer the facility of applying for the instant 1 lakh loan online.

It can be challenging for you to compare the interest rates of all the loan service providers and decide on the ideal option. Therefore, we make it easy for you by allowing you to compare the different 1-lakh rupees loan products on a single page.

While there are many ways of applying for a personal loan upto 1 lakh, an online application through fastmudra is the most convenient. Here is how you can apply online for a personal loan through our website.

Click on the Personal Loan tab mentioned under the Loans section on our website.
Sign up by entering your name, email address, and mobile number.
Enter the loan amount required.
Select the employment type from the given options.
Enter your monthly income, company name, pin code and the bank name where your salary is credited.
Enter the OTP received on your mobile and mention other required details.
On entering all the required details, you can access the best matching personal loan offers of over 100 financial institutions.
Choose a preferred lender and proceed to apply for the loan.
Our loan experts will help you in completing the documentation formalities and explaining the loan procedure.
Once your application is approved the loan amount will be credited to your bank account.

We have almost all top banks offering one lakh loan to their customers. You can easily compare between an extensive range of loan offers online on a single page.It saves your time and effort of applying for a loan with every bank separately.

Alternatively, you can also call us at 1800 103 4004 or 9887114161 or send us an email at contactus@fastmudra.in to apply for the loan.

Additional Reading: How to get personal loan in Chennai?

Even if you meet the eligibility criteria of the lender, you cannot avail of a 1 lakh loan without documents to prove your eligibility. The documents required for a personal loan are as follows:

KYC Documents

Identity proof documents include passport, PAN card, Aadhar card, Voter’s ID card, and driving license (any one should suffice). ^{^L^{ink aadhar to mobile number}^}
Address proof documents include driving license, Voter’s ID card, passport, or Aadhar card (one should be sufficient).

Income Proof Documents

To avail of a 100000 personal loan, salaried employees can produce salary slips or a certificate from their employers for the last 2 months, Form 16, bank statements, and IT returns.
Self-employed persons need to provide IT returns and their financial statements as proof of income.

Additional Documents

Proof of business is necessary for business persons.
All applicants should provide a copy of their bank statements for a minimum of 6 months for 1 lakh rupees personal loan.

Additional Reading: Cibil Score Required for Personal Loan

Before Applying for a personal loan make sure you know the applicable rates and charges. The 1 lakh loan interest rates vary from one bank to the other. The nationalized banks offer lower rates of interest than the private sector banks. However, other financial institutions offering the 1 lakh loan scheme charge higher rates, depending on their internal loan policies.

Personal Loan Interest Rates of Top 5 Lenders

Name of Bank	Rate of interest
Navi	9.99%
SBI	10.30% to 15.65%
ICICI Bank	10.50% to 19%
Yes Bank	10.99% onwards
Bajaj Finserv	13% onwards
Money Tap	13% to 24.03%

Additional info: Check Personal Loan for Women & their Interest Rates.

Calculating your 1 lakh personal loan EMI is crucial as it enables you to know your monthly outflow. It helps to manage your finances better.

You can calculate your loan EMI amount for personal loan upto 1 lakh using the Personal Loan EMI Calculator available on our website by following the easy steps mentioned below.

Step 1 – Access the Financial Tools webpage on our official website.

Step 2 – Enter the loan amount, interest rate, and repayment tenure.

Step 3 – You get your personal loan EMI immediately along with the loan amortization schedule that gives you a break-up of the principal and the interest repayment portions throughout the loan tenure.

If you want a low EMI personal loan, you can try different combinations to reach the ideal EMI for you.

1 Lakh Personal Loan EMI for 2 Years & 5 Years

Name of Bank	Rate of interest	EMI for 2 Years	EMI for 5 Years
State Bank of India	10.10% to 15.65% per annum	₹ 4,614	₹ 2,125
ICICI Bank	10.50% to 19% per annum	₹ 4,638	₹ 2,149
Yes Bank	10.99% onwards per annum	₹ 4,660	₹ 2,174
Bajaj Finserv	13% onwards per annum	₹ 4,754	₹ 2,275
Money Tap	13% Onwards per annum	₹ 4,754	₹ 2,275