₹1 Lakh Personal Loan EMI Calculator
₹1 lakh loan EMI is ₹4,707/month at 12% for 24 months. Calculate exact EMI at your rate. Compare 55+ lenders. Complete guide below.
₹
₹20,000₹5,00,000
%
9.0%36.0%
6 Mo60 Mo
Monthly EMI
₹4,707
Total Interest
₹12,976
Total Payment
₹1,12,976
Monthly EMI
₹4,707
Principal Amount
₹1,00,000 (88.5%)
Total Interest
₹12,976 (11.5%)
Amortization Schedule
| Year | Principal | Interest | Total Paid | Balance |
|---|---|---|---|---|
| Year 1 | ₹47,014 | ₹9,470 | ₹56,484 | ₹52,986 |
| Year 2 | ₹52,975 | ₹3,509 | ₹56,484 | ₹11 |
₹1 Lakh Loan EMI at a Glance
₹4,707
EMI (12%, 24mo)
₹3,467
EMI (15%, 36mo)
₹12,968
Total Interest (12%, 24mo)
₹15,000/mo
Min Salary Needed
₹1 Lakh Loan Monthly EMI Table
EMI for ₹1,00,000 at every interest rate and tenure combination
| Rate | 6 mo | 12 mo | 18 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|---|---|
| 10% | ₹17,156 | ₹8,792 | ₹6,006 | ₹4,614 | ₹3,227 | ₹2,536 | ₹2,125 |
| 10.5% | ₹17,181 | ₹8,815 | ₹6,029 | ₹4,638 | ₹3,250 | ₹2,560 | ₹2,149 |
| 11% | ₹17,205 | ₹8,838 | ₹6,052 | ₹4,661 | ₹3,274 | ₹2,585 | ₹2,174 |
| 12% | ₹17,255 | ₹8,885 | ₹6,098 | ₹4,707 | ₹3,321 | ₹2,633 | ₹2,224 |
| 14% | ₹17,354 | ₹8,979 | ₹6,192 | ₹4,801 | ₹3,418 | ₹2,733 | ₹2,327 |
| 15% | ₹17,403 | ₹9,026 | ₹6,238 | ₹4,849 | ₹3,467 | ₹2,783 | ₹2,379 |
| 16% | ₹17,453 | ₹9,073 | ₹6,286 | ₹4,896 | ₹3,516 | ₹2,834 | ₹2,432 |
| 18% | ₹17,553 | ₹9,168 | ₹6,381 | ₹4,992 | ₹3,615 | ₹2,937 | ₹2,539 |
| 20% | ₹17,652 | ₹9,263 | ₹6,476 | ₹5,090 | ₹3,716 | ₹3,043 | ₹2,649 |
| 24% | ₹17,853 | ₹9,456 | ₹6,670 | ₹5,287 | ₹3,923 | ₹3,260 | ₹2,877 |
Total Interest You Pay on ₹1 Lakh Loan
This is the extra money above ₹1,00,000 that goes to the lender as interest
| Rate | 6 mo | 12 mo | 18 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|---|---|
| 10% | ₹2,936 | ₹5,504 | ₹8,108 | ₹10,736 | ₹16,172 | ₹21,728 | ₹27,500 |
| 10.5% | ₹3,086 | ₹5,780 | ₹8,522 | ₹11,312 | ₹17,000 | ₹22,880 | ₹28,940 |
| 11% | ₹3,230 | ₹6,056 | ₹8,936 | ₹11,864 | ₹17,864 | ₹24,080 | ₹30,440 |
| 12% | ₹3,530 | ₹6,620 | ₹9,764 | ₹12,968 | ₹19,556 | ₹26,384 | ₹33,440 |
| 14% | ₹4,124 | ₹7,748 | ₹11,456 | ₹15,224 | ₹23,048 | ₹31,184 | ₹39,620 |
| 15% | ₹4,418 | ₹8,312 | ₹12,284 | ₹16,376 | ₹24,812 | ₹33,584 | ₹42,740 |
| 16% | ₹4,718 | ₹8,876 | ₹13,148 | ₹17,504 | ₹26,576 | ₹36,032 | ₹45,920 |
| 18% | ₹5,318 | ₹10,016 | ₹14,858 | ₹19,808 | ₹30,140 | ₹40,976 | ₹52,340 |
| 20% | ₹5,912 | ₹11,156 | ₹16,568 | ₹22,160 | ₹33,776 | ₹46,064 | ₹58,940 |
| 24% | ₹7,118 | ₹13,472 | ₹20,060 | ₹26,888 | ₹41,228 | ₹56,480 | ₹72,620 |
Green = low interest cost | Orange = moderate | Red = high cost — consider shorter tenure
Total Amount You Repay
Principal (₹1,00,000) + total interest = what you actually pay back
| Rate | 6 mo | 12 mo | 18 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|---|---|
| 10% | ₹1,02,936 | ₹1,05,504 | ₹1,08,108 | ₹1,10,736 | ₹1,16,172 | ₹1,21,728 | ₹1,27,500 |
| 10.5% | ₹1,03,086 | ₹1,05,780 | ₹1,08,522 | ₹1,11,312 | ₹1,17,000 | ₹1,22,880 | ₹1,28,940 |
| 11% | ₹1,03,230 | ₹1,06,056 | ₹1,08,936 | ₹1,11,864 | ₹1,17,864 | ₹1,24,080 | ₹1,30,440 |
| 12% | ₹1,03,530 | ₹1,06,620 | ₹1,09,764 | ₹1,12,968 | ₹1,19,556 | ₹1,26,384 | ₹1,33,440 |
| 14% | ₹1,04,124 | ₹1,07,748 | ₹1,11,456 | ₹1,15,224 | ₹1,23,048 | ₹1,31,184 | ₹1,39,620 |
| 15% | ₹1,04,418 | ₹1,08,312 | ₹1,12,284 | ₹1,16,376 | ₹1,24,812 | ₹1,33,584 | ₹1,42,740 |
| 16% | ₹1,04,718 | ₹1,08,876 | ₹1,13,148 | ₹1,17,504 | ₹1,26,576 | ₹1,36,032 | ₹1,45,920 |
| 18% | ₹1,05,318 | ₹1,10,016 | ₹1,14,858 | ₹1,19,808 | ₹1,30,140 | ₹1,40,976 | ₹1,52,340 |
| 20% | ₹1,05,912 | ₹1,11,156 | ₹1,16,568 | ₹1,22,160 | ₹1,33,776 | ₹1,46,064 | ₹1,58,940 |
| 24% | ₹1,07,118 | ₹1,13,472 | ₹1,20,060 | ₹1,26,888 | ₹1,41,228 | ₹1,56,480 | ₹1,72,620 |
Minimum Salary Required for ₹1 Lakh Loan
Banks use the 50% FOIR rule — your total EMIs should not exceed 50% of your net monthly salary
| Tenure | EMI @12% | Min Salary @12% | EMI @18% | Min Salary @18% |
|---|---|---|---|---|
| 6 months | ₹17,255 | ₹35,000 | ₹17,553 | ₹36,000 |
| 12 months | ₹8,885 | ₹18,000 | ₹9,168 | ₹19,000 |
| 18 months | ₹6,098 | ₹13,000 | ₹6,381 | ₹13,000 |
| 24 months | ₹4,707 | ₹10,000 | ₹4,992 | ₹10,000 |
| 36 months | ₹3,321 | ₹7,000 | ₹3,615 | ₹8,000 |
| 48 months | ₹2,633 | ₹6,000 | ₹2,937 | ₹6,000 |
| 60 months | ₹2,224 | ₹5,000 | ₹2,539 | ₹6,000 |
₹1 Lakh Loan Eligibility Criteria
✓
Age
21 – 58 years
✓
Minimum Salary (Salaried)
₹15,000/month
✓
Minimum Income (Self-employed)
₹2 Lakh/year ITR
✓
CIBIL Score
550+ (700+ for best rates)
✓
Employment
Min 6 months in current job
✓
Documents
PAN + Aadhaar + Bank Statement
✓
Tenure Options
6 to 60 months
✓
Processing Fee
0% – 3% of loan amount
What Can You Use ₹1 Lakh For?
🏥
Medical Emergency
Hospital bills, surgery costs, dental treatment
📱
Gadgets & Electronics
Laptop, phone, home appliances
✈️
Travel
Domestic trips, visa fees, flight bookings
🎓
Education
Course fees, exam costs, coaching
🏠
Home Repair
Plumbing, painting, small renovations
💍
Wedding Expenses
Jewellery, catering, venue booking
5 Tips to Get the Cheapest ₹1 Lakh Loan
1
Check your CIBIL score first
A score above 750 can get you rates as low as 10.49%. Every 50-point improvement can save ₹2,000–₹5,000 in interest on a ₹1 lakh loan.
2
Compare at least 5 lenders
Interest rates for the same profile can vary by 5–10% across lenders. GoCredit compares 55+ lenders automatically.
3
Choose the shortest tenure you can afford
A 12-month tenure costs ₹6,615 in interest. A 48-month tenure costs ₹26,109. That is 4x more for the same ₹1 lakh.
4
Avoid multiple applications
Each loan application triggers a hard inquiry on your CIBIL. Multiple rejections can drop your score 30–50 points. Apply only where you are likely to be approved.
5
Read the processing fee fine print
A 3% processing fee on ₹1 lakh = ₹3,000 deducted upfront. Some lenders charge 0%. Always factor this into the total cost.
Find the cheapest ₹1 lakh loan in 30 seconds
GoCredit's AI compares 55+ lenders and finds the lowest EMI for your profile.
Compare ₹1 Lakh Loan Offers →₹1 Lakh Personal Loan — FAQ
What is the monthly EMI for a ₹1 lakh personal loan?
It depends on the interest rate and tenure. At 12% for 24 months, the EMI is ₹4,707. At 10% for 36 months, the EMI drops to ₹3,227. Use the calculator above to check for your specific rate.
Which bank offers the lowest interest rate for a ₹1 lakh loan?
Among major lenders, rates start from 10.49% (premium banks for 750+ CIBIL) up to 36% (fintech lenders for lower scores). The actual rate depends on your credit profile, salary, and employment type.
Can I get a ₹1 lakh loan with low CIBIL score?
Yes. Several NBFCs and fintech lenders approve ₹1 lakh loans for CIBIL scores as low as 550. The interest rate will be higher (18-30%), but approval is possible. GoCredit matches you with lenders that fit your profile.
What is the minimum salary required for a ₹1 lakh loan?
Most lenders require a minimum salary of ₹15,000-₹20,000 per month. Some fintech lenders approve at ₹12,000/month. Self-employed applicants need 2+ years of ITR.
How much total interest will I pay on a ₹1 lakh loan?
At 12% for 24 months: ₹12,978 total interest. At 15% for 36 months: ₹24,681. At 18% for 48 months: ₹40,774. Shorter tenure = less interest. Use the tables below to see exact numbers.
Is ₹1 lakh loan available without income proof?
Very few lenders offer loans without income proof. Most require at least 3-6 months of bank statements or salary slips. Some digital lenders analyze your bank account transactions instead of traditional documents.
How fast can I get a ₹1 lakh loan disbursed?
Fintech lenders like Navi, KreditBee, and Fibe can disburse within 2-6 hours. Banks typically take 24-72 hours. Pre-approved offers (if available) can be instant.
Should I take a ₹1 lakh loan for 12 months or 24 months?
12 months: EMI ₹8,885 but total interest only ₹6,615. 24 months: EMI ₹4,707 but total interest ₹12,978. If you can afford the higher EMI, 12 months saves you ₹6,363 in interest.
Can I prepay a ₹1 lakh loan early?
Yes. Most lenders allow prepayment after 6-12 EMIs. RBI mandates no prepayment penalty for floating rate loans. Fixed rate loans may have 2-5% penalty. Prepaying even ₹20,000 early can save thousands in interest.
What documents are needed for a ₹1 lakh personal loan?
Typically: PAN card, Aadhaar card, 3-6 months bank statements, latest salary slip or Form 16 (salaried) / 2 years ITR (self-employed), and a passport-size photo. Many digital lenders need only PAN + Aadhaar + bank statement.