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Instant ₹12 Lakh Personal Loan - Apply Online at Low Interest Rates
Fast, flexible, and 100% digital personal loan for your big life goals
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Personal Loan EMI Calculator
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
*Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply.**For select loan amounts
Apply for a ₹12 Lakh Instant Personal Loan
An urgent requirement for money can occur anytime and can pertain to situations such as hospitalisation, home repairs, or travel. With FIRSTmoney, you can avail a personal loan of ₹12 lakhs via an entirely digital application. You can select your loan amount and a suitable repayment period, without worrying about foreclosure charges, giving you more independence than ever to chase your aspirations without draining your savings. Apply online in 5 minutes and experience smart borrowing in real time. You can apply for a ₹12 lakh personal loan to manage major financial needs efficiently.
What Are the Benefits of a ₹12 Lakh Personal Loan?
Plan smarter with the assistance of a personal loan calculator and experience the unmatched convenience of borrowing with IDFC FIRST Bank’s FIRSTmoney smart personal loan. Enjoy facilities conceived out of flexibility, transparency, and convenience.
Instant Disbursal & Fast Approval
Get a ₹12 lakh loan approved and disbursed in 10 minutes through a 100% digital application. This makes it easier to apply for a ₹12 lakh personal loan and receive funds quickly.
Flexible Repayment Terms
Select repayment durations of 9 to 60 months to suit your convenience.
Zero Foreclosure Fees
Repay your FIRSTmoney loan whenever you wish without fear of any penalties or additional charges.
Multiple On-Demand Loans
Get access to additional funds immediately whenever needed without submitting a new application all over again.
Competitive Interest Rates
Get competitive interest rates from 9.99% p.a..
Paperless Process
Apply online with just your Aadhaar card number and PAN card through an easy video KYC process.
Who Can Apply for a ₹12 Lakh Personal Loan? Eligibility & Docs
Eligibility criteria
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Documents Needed:
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Easy Guide on How to Apply for a Personal Loan
Step 1
Click on ‘Apply Now’
Step 2
Register using your basic details
Step 3
Choose your loan preferences including amount and EMI plan
Step 4
Link your bank account where you want to receive the funds
Step 5
Complete video KYC by showing your PAN card
Who Can Apply for a ₹12 Lakh Personal Loan? Eligibility & Docs
Eligibility criteria
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Documents Needed:
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How to Calculate your Personal Loan EMI
Estimate your EMIs using the personal loan calculator on the FIRSTmoney website. Just fill in your loan amount, interest rate, and repayment tenure. This enables you to schedule your repayments effectively and budget your monthly spending more effectively. Before you apply for a ₹12 lakh personal loan, it is important to estimate your EMI for better planning. Here’s an EMI table to illustrate your loan structure.
| Loan Amount (₹) | Interest Rate (p.a) | Tenure | Approx EMI (₹) |
| ₹12,00,000 | 9.99% | 1 year | 105,493 |
| ₹12,00,000 | 9.99% | 2 years | 55,368 |
| ₹12,00,000 | 9.99% | 3 years | 38,715 |
| ₹12,00,000 | 9.99% | 4 years | 30,429 |
| ₹12,00,000 | 9.99% | 5 years | 25,491 |
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FAQs on ₹12 Lakh Personal Loan
Are there any foreclosure benefits for a FIRSTmoney loan of ₹12 lakhs?
Yes. FIRSTmoney personal loans do not charge any foreclosure fees, and hence you can close your loan ahead of schedule without paying any foreclosure charges.
How can I calculate the EMIs for a loan of ₹12 lakhs?
You may use the personal loan calculator or EMI calculator on the FIRSTmoney website to get an approximate EMI calculation.
What is the minimum income required to apply for a ₹12 lakh personal loan
For a FIRSTmoney personal loan, a monthly salary of at least ₹10,000 is required. However, a higher income and better credit score can improve your prospects and make you eligible for higher loan amounts.
What is the repayment tenure available for a ₹12 lakh personal loan?
You can opt for flexible repayment tenures ranging from 9 months to 60 months, according to your convenience.
Can I get a ₹12 lakh personal loan without collateral?
Yes. FIRSTmoney personal loans are unsecured, and thus, you can get loans up to ₹12 lakh without any collateral or security.
How quickly are ₹12 lakh personal loans approved and disbursed?
With IDFC FIRST Bank, your ₹12 lakh personal loan can be approved and disbursed within 10 minutes.
Do’s and Don’ts for ₹12 lakh Personal Loan
Do's
- Go through the terms and conditions of the loan before applying
- Choose a repayment plan suited to your income
- Maintain regular EMI payments
- Verify eligibility before application
- Apply online for quicker approval
Don’ts
- Do not calculate your affordability only on the basis of EMI
- Avoid ignoring your credit score requirements
- Do not take a loan without verifying lender credentials
- Avoid incomplete applications
- Do not take a loan without planning repayment
Things to know about ₹12 lakh Personal Loan
Eligibility Criteria
FIRSTmoney personal loans require a stable income, a minimum salary of ₹10,000, and a CIBIL score of 710 or above for eligibility.
Processing fees & charges
Loan costs include interest and applicable charges. FIRSTmoney ensures transparency for better financial clarity.
Interest rates
₹12 lakh loan interest rates directly impact EMI and repayment amount. Get loan rates starting from 9.99% p.a. with FIRSTmoney.
Easy loan comparison
Comparing loan options helps select suitable terms. FIRSTmoney provides clear and structured information for thorough comparison.
Better financial planning
Flexible repayment tenure up to 60 months supports efficient EMI planning and financial management.
Tips to smartly use your ₹12 lakh Personal Loan
Tip 1
Assess your financial situation
Review your income and expenses to ensure your EMI remains manageable.
Tip 2
Use funds responsibly
Limit spending to essential needs, in order to avoid financial pressure.
Tip 3
Avoid repeated borrowing
Frequent loans can increase financial burden and affect stability.
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