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Instant Personal LoanGet quick funds with Aditya Birla Capital Instant Personal Loan
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Personal Loan EligibilityCheck your Aditya Birla Capital Personal Loan eligibility
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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,690
No. of Employees
61,600+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
Consolidated Lending Book
INR 1.65 Lakh CrCorporate Governance Policies
- Policy for appointment of Statutory Auditors
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Personal Loan EMI CalculatorEstimate your monthly loan repayments with Personal Loan EMI Calculator
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Personal Loan of ₹1 Lakh
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
What is a Personal Loan of ₹1 Lakh?
A personal loan of ₹1 lakh is a quick and convenient financing solution designed to help individuals meet their urgent financial needs. Whether it's for medical emergencies, home renovations, education expenses, travel, or wedding costs, this loan provides the flexibility to use funds without restrictions. With a seamless application process, quick approvals, and collateral-free disbursal, Aditya Birla Capital ensures that you can access funds effortlessly. Enjoy competitive interest rates and repayment options tailored to your financial convenience.
Features of a Personal Loan of ₹1 Lakh
Collateral-free Loan
No need to pledge assets to secure the loan.
Quick Approvals
Fast processing to get funds when you need them.
Flexible Repayment Options
Choose a repayment tenure that suits your financial plan.
Minimal Documentation
Hassle-free application with minimal paperwork.
Competitive Interest Rates
Affordable EMIs to ensure smooth repayment.
Reasons To Get a Personal Loan of ₹1 Lakh from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure a Personal Loan of ₹1 Lakh. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of 84 months to ensure affordable EMIs for easy repayments. This makes the ₹1 Lakh Personal Loan pocket-friendly.
Predictable EMIs
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments.
Quick Sanctions
Get the funds transferred to your account within 24 hours of applying for the loan.
Facility to add a co-applicant
Adding a co-applicant to the ₹1 Lakh Personal Loan can increase your eligibility. You can also get a higher loan amount to meet different needs.
Interest Rates Available for
Personal Loans of ₹1 Lakh
Find out the interest payable on the Personal Loan of ₹1 Lakh to plan your repayments effectively.
Loans up to 12 months| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
Who Can Apply For a Personal Loan of ₹1 Lakh?
Find out if you are eligible to apply for a ₹1 Lakh Personal Loan
Salaried
Self-employed Professional
Self-employed Non - Professional
How to Apply for a Short-term Personal Loan
Visit the ABCD website
Go to the official ABCD website and open the Personal Loan section.
Determine Your Financial Needs
Assess the amount and tenure that best fits your budget.
Check Loan Eligibility
Use our online eligibility calculator to see if you qualify.
Calculate Monthly EMI
Plan your repayment with our EMI calculator.
Submit the Required Documents
Upload the necessary paperwork online.
Apply for the Loan
Complete the online application or visit a nearby branch for offline submission.
Eligibility Criteria for Personal Loans of ₹1 Lakh
Are you eligible for a ₹1 Lakh Personal Loan? Check whether you meet the criteria.
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
* A higher age limit is applicable at the time of loan maturity.
Fees and Charges for Personal Loans of ₹1 Lakh
| Charge Type | Amount |
|---|---|
| Processing fees | Up to 4% of the loan sanctioned amount |
| Cheque Return charges | ₹1000 + GST per instance |
| Penal charges (charges levied for non-payment of overdue amount) | 3% p.m. (36% p.a.) on the overdue amount for the delayed period |
| Penal charges for non-compliance with material terms and conditions (covenants / stipulated conditions) mentioned in the Sanction Letter / Loan Agreement, wherever applicable | 2% p.a. on the outstanding loan amount till the date of compliance |
| Charges for cancellation of Loan |
4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | Rs. 50 per instance for Consumer and Rs. 500 per instance for commercial CIBIL/Credit Report |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan re – schedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual if applicable |
| Pre – closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual if applicable |
| Duplicate No Due Certificate issuance charges | Rs. 500 per instance |
| Foreclosure Charges |
For Term Loan:
Upto 4% of the principal outstanding amount For Flexi Loan: Upto 4% of the total withdrawable amount Conditions: Foreclosure is allowed only after 12 months from the date of disbursal of loan. |
| Part Pre-payment charges |
For Term Loan:
a) NIL charges – if part pre-payment is equal to 20% of principal outstanding amount b) Upto 4% on remaining loan amount – if part pre-payment is greater than 20% of principal outstanding amount Conditions: a) No pre-payment is allowed in first 12 months from the date of disbursement b) Part pre-payment amount should be equal to OR greater than total of 3 EMIs For Flexi Loan: a) No charges for payments through mobile app/portal. b) Part pre-payment of loan facility toward limit reduction is not available |
ABC Of Calculators
Your estimated EMI amount
₹ 0Total Interest
₹ 0Total Payout
₹ 0You are eligible for a loan of
₹ 0*EMI @ 9% Interest Rate
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BALANCE TRANSFER LOAN
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Reduced Interest Rates. -
Lower Monthly Payments.
TOP UP LOAN
- Easy application process
- Borrow up to 80% of property value
Different financial needs, different loans, one app - ABCD
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs
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Quick sanctions and disbursals
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Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Aditya Birla Capital Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Capital Customer
Hyderabad, India
Aditya Birla Capital Customer
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
FAQs on Personal Loans of ₹1 Lakh
You can apply for a Personal Loan of ₹1 Lakh in two ways. They are as follows -
• Online - Apply online through the website or mobile application of Aditya Birla Capital
• Offline - Visit the nearest branch and apply offline
Yes, you can prepay the ₹1 Lakh Personal Loan after the first 6 months of getting the loan.
A prepayment charge of 3% + GST will apply if you prepay more than 20% of the disbursed amount. However, no prepayment charges will apply if you prepay less than 20% of the disbursed loan amount.
The EMI will also depend on the interest rate. You can use the online EMI calculator to find the EMI of a ₹1 Lakh Personal Loan with a repayment tenure of 2 years.
Yes, Personal Loans offered by Aditya Birla Capital have flexible repayment tenures of up to 84 months.
Once the loan is approved, the funds are transferred to your bank account directly.