What is Minimum EMI of 10 Lakhs Personal Loan

A personal loan is a type of loan that can be used for a variety of purposes, such as consolidating debt, financing a wedding, or renovating your home. The minimum EMI for a 10 lakhs personal loan will depend on the lender, the interest rate, and the loan tenure. You can use an online personal loan EMI calculator to estimate your monthly repayments. It is important to compare interest rates from different lenders before you apply for a personal loan. You should also make sure that you can afford the monthly repayments before you take out the loan.


Personal loan 10 Lakhs

What is Personal Loan Interest Rate

The interest rate on a personal loan is the percentage of the loan amount that you pay as interest each year. The interest rate will vary depending on the lender, your credit score, and the loan amount and tenure. You can use an EMI calculator to estimate your monthly repayments based on the interest rate, loan amount, and tenure.

 LoanTap provides personal loans at 11%to 24% interest rate. To calculate the EMI you can use emi calculator personal loan


Rs. 10 Lakh Personal Loan EMI 1-5 Year Tenure

Loan Amount

Interest Rate

Tenure

EMI

Rs. 10 Lakh

14

1 year

Rs. 83,351

2 year

Rs. 48,013

3 year

Rs. 34,178

4 year

Rs. 27,326

5 year

Rs. 23, 268


Benefits of Rs. 10 Lakh Personal Loan

Flexibility in repayment tenure:

You can choose a repayment tenure that suits your financial situation, from 12 to 60 months. This can help you manage your monthly expenses and avoid defaulting on your loan.

Collateral-free loan

You can get a personal loan without having to pledge any collateral, such as your house or car. This makes it a convenient option for borrowers who do not have any assets to secure the loan.

Easy documentation

 The documentation requirements for a personal loan are relatively simple. You will need to provide proof of income, identity, and address. This can help you get the loan quickly and easily.

Competitive interest rates

The interest rates on personal loans are typically lower than the interest rates on credit cards and other forms of debt. This can help you save money on your overall borrowing costs.


Conclusion 

The minimum EMI for a 10 lakhs personal loan will depend on the lender, the interest rate, and the loan tenure. You can use an online personal loan EMI calculator to estimate your monthly repayments. However, it is important to remember that the EMI is not the only factor to consider when taking out a personal loan. You should also factor in the interest rate, the loan tenure, and your ability to afford the monthly repayments. It is always a good idea to speak to a financial advisor before taking out a personal loan to get personalised advice.


                      Original source:- What is Minimum EMI of 10 Lakhs Personal Loan


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