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What is a Personal Loan of ₹1 Lakh?
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.
Interest Rates Available for Personal Loans of ₹1 Lakh
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 |
How to Apply for a Personal Loan of ₹1 Lakh?
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 ₹2 Lakh
Documents Required for Personal Loans of ₹1 Lakh
- Proof of Identity and Address : Aadhaar Card, PAN Card (as ID proof), Passport, Voter ID, Driving Licence.
- Proof of Income : Salary slip for the last 3 months, Form 16.
- Bank Statements : Last 6 months where salary/income is credited.
Eligibility Criteria for Personal Loans of ₹1 Lakh
- Nationality : Person has to be an Indian citizen.
- Minimum Age : The individual needs to be 21 years of age.
- Credit Score : The credit score has to be above 750
- Employment : Salaried, Self-employed professional, or Self-employed non-professional.
Fees and Charges for Personal Loans of ₹1 Lakh
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule 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 |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
ABC Of Calculators
Your estimated EMI amount
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₹ 0*EMI @ 9% Interest Rate
₹ 0*
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,
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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Customer Satisfaction Stories
Aditya Birla Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
Aditya Birla Finance 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
ABC Of Personal Loan