A ₹10 lakh personal loan can be a game-changer when you’re looking to meet major financial goals, be it funding a wedding, handling a medical emergency, or expanding your small business. With the rise of NBFC personal loans and digital-first lenders like DMI Finance, applying for a high-value personal loan is now faster, simpler, and more accessible than ever before.

This blog will walk you through everything you need to know about a ₹10,00,000 personal loan, including eligibility, documents required, EMIs, and how to apply online without collateral. Whether you’re salaried or self-employed, this guide will help you make an informed decision.

Who Needs a ₹10 Lakh Personal Loan?

Many individuals in India now opt for high-value unsecured personal loans to fund important life needs. Here are some common scenarios where a personal loan for ₹10 lakh may be useful:

General Use Cases:

• Medical Emergencies – Immediate surgery or prolonged treatment
• Wedding Expenses – Covering venue, decor, catering, and photography
• Home Renovation – Modernising your living space or fixing structural issues
• Overseas Education – Tuition fees, accommodation, and travel
• Business Expansion – Investing in equipment or scaling operations

Eligibility Criteria for a ₹10 Lakh Personal Loan

If anybody earns ₹25,000 per month, they can apply for a DMI Finance personal loan, but for a ₹10 lakh personal loan, the DMI Finance personal loan eligibility criteria are given below: 

• Age: 23–52 years
• Minimum Income: ₹50,000/month or above
• Credit score: 700 or above

Documents Required

Keep the following documents and details handy for a smooth application:

• Aadhaar Number & PAN Number
• Address proof (utility bills, or rent agreement)
• Bank statements for income proof

How to Apply for a ₹10 Lakh Personal Loan?

Here’s how you can apply for a DMI Finance personal loan:

1. Download the DMI Finance App from the Play Store
2. Tap “Apply Personal Loan” and enter your details
3. Upload documents via a secure digital interface
4. Choose the loan amount and preferred tenure
5. Complete e-KYC with Aadhaar
6. Approve e-mandate and submit

Get approval within a few minutes and receive funds directly into your bank (within 24–72 hours).

EMI for ₹10 Lakh Personal Loan

EMI, or Equated Monthly Instalment, depends on the interest rate, loan tenure, and your creditworthiness. Here’s a breakdown of estimated EMIs for ₹10 lakh across various tenures.

Sample EMI Table (Assuming 13.99% Interest Rate)

Tenure	Approx. EMI	Total Repayment
12 months	₹89,787	₹10,70,400
24 months	₹48,008	₹11,52,196
36 months	₹34,173	₹12,30,220
48 months	₹27,321	₹13,11,430

Why Consider DMI Finance for a ₹10 Lakh Personal Loan?

If you’re looking for a reliable personal loan option from a Reserve Bank of India (RBI) registered lender, DMI Finance offers a balance of speed, transparency, and flexibility.

Key Benefits:

• 100% Online Process – Apply from your phone, no branch visits
• Loan Range – ₹50,000 to ₹10 lakh
• Pan-India Availability – Apply from anywhere in India
• No Hidden Charges – Transparent loan agreement terms
• Easy Disbursal – Funds credited in as little as 24–48 hours
• Tenure – Flexible tenure of 12 months to 48 months

A ₹10,00,000 personal loan can help you meet life’s major expenses without dipping into savings or selling assets. Thanks to digital NBFC lenders like DMI Finance, high-value unsecured personal loans are now more accessible and manageable.

Just ensure you:

• Meet the eligibility for a 10 lakh personal loan
• Understand the terms and conditions for a 10 lakh personal loan
• Use an EMI calculator for planning

Always borrow within your repayment ability. And when you’re ready, check your eligibility and get a personalised offer from DMI Finance in just a few clicks. Apply Now.

Frequently Asked Questions (FAQs)

1. Can I get a 10 lakh personal loan without collateral?

Yes, you can. DMI Finance offers personal loans of ₹50,000 to ₹10 lakh without any security. This means you don’t need any collateral or security.

2. What is the minimum salary required for a ₹10 lakh personal loan?

At DMI Finance, applicants earning ₹25,000 or more per month can apply for a personal loan of up to ₹10 lakh (subject to credit checks).

3. What credit score is required to get a ₹10 lakh personal loan?

A 700+ credit score is generally considered ideal for high-value loans such as a ₹10 lakh loan. A higher score improves your chance of approval and may help you secure a lower interest rate.

4. How much EMI do I need to pay for a ₹10 lakh loan?

Your ₹10 lakh loan EMI depends on your interest rate and tenure.
Example:

• At 13.99% interest for 48 months, EMI ≈ ₹27,321 per month. Use an EMI calculator to get an accurate figure based on your profile.
  
  

5. How long does it take to get a ₹10 lakh personal loan approved?

With DMI Finance, you can get an approval within a few minutes of submitting your loan application, and disbursal within 48 hours after approval.

7. What is the maximum tenure for a ₹10 lakh personal loan?

DMI Finance offer a tenure of 12 months to 48 months for a personal loan up to ₹10 lakhs.

8. Is a 10 lakh personal loan a good idea?

It’s a smart choice if:

• You have a stable job or income
• EMIs fit within your monthly budget
• Your debt-to-income ratio stays below 50%
• The loan is for productive or essential needs

9. Is the online application safe for a 10 lakh personal loan?

Yes, if you apply through trusted lenders or NBFCs with secure digital systems.
DMI Finance uses encrypted, 100% digital processing, ensuring safe and secure applications.

10. How can I increase my chances of getting a 10 lakh loan approved?

Here are quick tips:

• Maintain a credit score above 700
• Keep the existing debt low
• Ensure stable income
• Use a longer tenure to reduce the EMI amount

11. Which lender is best for a 10 lakh personal loan?

The best lender depends on interest rates, eligibility, and how fast you need the loan.
NBFCs like DMI Finance are preferred for:

• Faster processing
• Flexible criteria
• 100% online loan journey
• Customised personal loan offers

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Personal Loan of Different Amounts
₹50,000 Personal Loan	₹1 lakh Personal Loan	₹2 lakh Personal Loan
₹3 lakh Personal Loan	₹4 lakh Personal Loan	₹5 lakh Personal Loan

Personal Loan in Different States
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Personal Loans in Himachal Pradesh	Personal Loans in Rajasthan	Personal Loans in Uttarakhand

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₹3 lakh Personal Loan	₹4 lakh Personal Loan	₹5 lakh Personal Loan

Personal Loan in Different States
Personal Loans in Delhi	Personal Loans in Haryana	Personal Loans in Uttar Pradesh
Personal Loans in Himachal Pradesh	Personal Loans in Rajasthan	Personal Loans in Uttarakhand

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₹5 Lakh Business Loan	₹10 Lakh Business Loan
₹20 Lakh Business Loan	₹25 Lakh Business Loan