Personal loan of ₹1 lakh: EMI, interest and options
₹1 lakh is often the step up from a small loan — enough for a hospital bill, a course or a two-wheeler down payment. Right now 5 lenders list this amount, at 12% to 36% a year.
₹1 lakh EMI for 1, 2 and 3 years
Spreading ₹1 lakh over more months lowers each EMI but adds interest. Over three years the interest alone can come to about ₹64,894 at the highest listed rate — compare that with the one-year figure in the table below before choosing a tenure. A five-year term is not listed here: the longest repayment period on offer for this amount is 36 months.
Moving up from a small loan
As many lenders list ₹1 lakh as ₹50,000. If you only need part of the money now, a smaller loan costs less in total interest and is quicker to clear.
Example EMIs for ₹1 lakh
| Amount | Tenure | Listed rates | EMI | Total interest at the highest rate |
|---|---|---|---|---|
| ₹1 lakh | 12 months | 12% – 36% | ₹8,885 – ₹10,046 | ₹20,555 |
| ₹1 lakh | 24 months | 12% – 36% | ₹4,707 – ₹5,905 | ₹41,714 |
| ₹1 lakh | 36 months | 12% – 30% | ₹3,321 – ₹4,245 | ₹52,826 |
Each row counts only the lenders that list that amount and tenure. Reducing-balance interest, equal monthly instalments, no fees included — an illustration, not an offer.
Who lends through Innopay Money
Loans are sanctioned by RBI-regulated lenders; Innopay Money does not lend. These are the lenders whose listed range includes ₹1 lakh.The lender for your loan is named in your offer and in its Key Fact Statement. How to check a lender.
See the 5 lenders and their listed termsalphabetical, not a ranking
| Lender | Interest rate (p.a.) | Amount | Tenure (months) | Application fee |
|---|---|---|---|---|
| Aye Finance | 24% – 29.5% | ₹5,000 – ₹1 lakh | 12 – 30 | ₹0 |
| Hero Fincorp | 18% – 30% | ₹50,000 – ₹7 lakh | 12 – 36 | ₹0 |
| mPokket | 18% – 36% | ₹1,000 – ₹2 lakh | 6 – 24 | ₹0 |
| Poonawalla Fincorp | 12% – 29% | ₹50,000 – ₹15 lakh | 12 – 36 | ₹0 |
| TATA CAPITAL | 12% – 29% | ₹65,000 – ₹50 lakh | 12 – 36 | ₹0 |
Each lender’s current listing on Innopay Money — not an offer. Your rate, any processing fee and the APR are in the lender’s Key Fact Statement.
Create an account with your mobile number, choose the amount you need and see the offers available to you. The lender decides approval.
Apply for ₹1 lakhFrequently asked questions
What is the EMI on a ₹1 lakh personal loan?
It depends on the rate you are offered and how long you repay. The table on this page shows the EMI for 12, 24 and 36 months at the lowest and highest rates listed for ₹1 lakh, and the total interest at the highest rate.
Can I repay ₹1 lakh over five years?
Not through the lenders listed on Innopay Money: the longest repayment period they list is shown on this page. A longer term lowers the EMI but increases the total interest you pay.
Does a ₹1 lakh loan need a salary slip?
Lenders need proof of a regular income. Salaried applicants usually show salary slips or salary credits in their bank statement; self-employed applicants show bank statements or tax returns. Each lender tells you what it accepts.