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2 Lakh Personal Loan
Personal loans have emerged as a convenient solution to meet various financial requirements, whether it's for debt consolidation, home renovation, or an unexpected medical emergency. One commonly sought-after amount is the INR 2 Lakh Personal Loan. This sum is significant enough to cover substantial expenses, yet manageable enough to repay without overburdening the borrower.
Moreover, the Equated Monthly Installment (EMI) for your INR 2 Lakh Personal Loan depends on the interest rate and the loan tenure. Many online tools can help you calculate your EMI. Knowing your EMI beforehand will help you manage your finances better and ensure you can comfortably repay the loan.
- Personalized Personal Loan solutions
- Expert guidance
- Application assistance
- Credit score discussion
- Personal Loan Interest rate comparison
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Table of Content
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Why Do You Opt Rs. 2 Lakh Personal Loan?
An INR 2 Lakh Personal Loan is a viable option for several reasons. The first is its multipurpose nature – unlike specific loans such as car loans or home loans, personal loans can be used for any legitimate purpose. It provides the borrower with the flexibility to use the loan amount as per their needs.
Moreover, the process for acquiring an INR 2 Lakh Personal Loan Online has been significantly streamlined, making it a suitable choice for immediate financial requirements. With minimum paperwork and rapid disbursement, you can obtain an Instant Personal Loan INR 2 Lakhs with relative ease, making it ideal for urgent financial needs.
Rs. 2 Lakh Personal Loan Eligibility
To avail an INR 2 Lakh Loan, certain eligibility criteria must be met. These are primarily based on your financial profile, which includes your income, credit score, employment status, and age.
- Regular monthly income is a crucial parameter as it reflects your repayment capacity.
- A good credit score, preferably 700 and above, is often required as it indicates a high level of creditworthiness.
- Stable employment, either salaried or self-employed, with a steady income flow, is typically expected.
- The age criteria may vary, but usually, applicants between the age of 21 and 60 years are considered.
Interest Rates for INR 2 Lakh Personal Loan
Here is a table of some banks/NBFCs that offer personal loans of Rs 2 lakh and their interest rates:
Lender | Interest Rate (p.a.) |
HDFC Bank | 10.50% onwards |
SBI | 11.00%-15.00% |
ICICI Bank | 10.75% onwards |
Axis Bank | 10.49% onwards |
Kotak Mahindra Bank | 10.99% onwards |
IndusInd Bank | 10.49% onwards |
IDFC First Bank | 10.49% onwards |
Bajaj Finserv | 11.00% onwards |
Tata Capital | 10.99% onwards |
Fullerton India | 11.99%-23.99% |
MyMoneyMantra | 9%-24% |
You can also use Urban Money’s EMI calculator to estimate your monthly payments and total interest payable for different tenures and interest rates.
What Will Be the INR 2 Lakh Personal Loan EMI for 5 Years?
To calculate the EMI for a loan, we need to know the interest rate. Since you didn’t specify one, let’s assume a relatively common rate of 10% annual interest for simplicity. The formula for EMI (Equated Monthly Installment) is as follows:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where:
- P is the principal loan amount. In this case, it’s INR 2,00,000.
- R is the rate of interest calculated on a monthly basis. (i.e., R = Annual Rate of Interest/12/100). If it’s 10% per annum, then R = 10/12/100 = 0.00833.
- N is the loan term or tenure/duration in number of months. For 5 years, N = 5*12 = 60 months.
Let’s calculate:
EMI = [2,00,000 x 0.00833 x (1+0.00833)^60]/[(1+0.00833)^60 – 1] EMI = INR 4,248
This is a fixed amount you would need to pay every month for 5 years.
Now, let’s create an amortisation table for the first 6 months and the last month to see the breakdown of principal and interest payments. Please note that as time goes on, the interest portion decreases while the principal portion increases.
Month | Opening Balance | EMI | Principal | Interest | Closing Balance |
1 | 2,00,000 | 4,248 | 2,498 | 1,750 | 1,97,502 |
2 | 1,97,502 | 4,248 | 2,515 | 1,733 | 1,94,987 |
3 | 1,94,987 | 4,248 | 2,532 | 1,716 | 1,92,455 |
4 | 1,92,455 | 4,248 | 2,549 | 1,699 | 1,89,906 |
5 | 1,89,906 | 4,248 | 2,567 | 1,681 | 1,87,339 |
6 | 1,87,339 | 4,248 | 2,584 | 1,664 | 1,84,755 |
… | … | … | … | … | … |
60 | 4,248 | 4,248 | 4,238.00 | 10 | 0 |
Note: This table is a simplification. The exact values may vary slightly due to rounding and different days in different months. Also, different lenders might calculate interest slightly differently. Always refer to your specific loan agreement for exact details.
Documents Required for INR 2 Lakh Personal Loan
To apply for an INR 2 Lakh Loan, you’ll need to provide some necessary documents that establish your identity, address, income, and employment status. The specifics may vary by lender, but typically, the following are required:
- Identity Proof: PAN card, Aadhaar card, Driving License, or Passport.
- Address Proof: Utility bills, Aadhaar card, or Lease/Rent Agreement.
- Income Proof: Salary slips for the last three months or bank statements showing income details.
- Employment Proof: An employment letter or any other document that shows you are gainfully employed.
Remember, proper and accurate documentation expedites the loan process and increases your chances of loan approval.
Features & Benefits of INR 2 Lakh Personal Loan
Personal loans are a popular financial instrument due to their flexibility and easy availability. A personal loan of INR 2 Lakh can come in handy for a variety of needs, be it dealing with unexpected medical expenses, funding a vacation, or even supporting a small business venture. Here are some features and benefits of a personal loan of this amount:
- Unsecured Loan: Personal loans are usually unsecured, meaning that they do not require collateral or a security deposit. This can be beneficial for people who do not own property or prefer not to risk it.
- Flexible Repayment Tenure: Most financial institutions offer a flexible repayment tenure ranging from 12 months to 60 months. This allows borrowers to choose a repayment period that suits their financial situation.
- Quick Disbursal: Upon approval, personal loans are quickly disbursed, often within a few hours to a couple of days. This makes them ideal for urgent financial needs.
- Boost Credit Score: If you repay your loan on time, it could help improve your credit score, thereby increasing your chances of securing loans in the future.
- Less Documentation: Compared to other types of loans, personal loans usually require less documentation, making the application process less cumbersome.
- No Guarantor Required: Personal loans do not usually require a guarantor, simplifying the loan approval process.
- Tax Benefits: In some cases, tax benefits may be available on personal loans if the loan amount is used for specific purposes, like purchasing or renovating a property.
How to Apply for INR 2 Lakh Personal Loan Online?
The process to apply for an INR 2 Lakh Personal Loan Online is now simpler than ever. Follow these steps:
- Visit the lender’s website or download their mobile application.
- Navigate to the personal loan section.
- Fill out the application form with all the necessary details.
- Upload the required documents.
- Submit the application.
You’ll typically receive an instant decision on your loan application, making the Instant Personal Loan INR 2 Lakhs an attractive option for those who need funds quickly.
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About Personal Loan
- Bank of Maharashtra Students Personal Loan
- Bank of Maharashtra Salaried Employee Personal Loan
- Union Bank of India Personal Loan of Rs. 3 Lakh
- Punjab National Bank Personal Loan Statement
- Personal Loan For Salary Rs 80000
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- Personal Loan For Salary Rs 60000
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- 50,000 Salary Personal Loan
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- Personal Loan for 40,000 Salary
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Loans
- 30 Lakh Home Loan EMI
- Yes Bank Personal Loan of 9 Lakh
- BOB Housewife Personal Loan
- ICICI Bnak Housewife Personal Loan
- Kotak Mahindra Bank Personal Loan of 2 Lakh
- HSBC Bank Small Loans
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- IDFC First Bank Personal Loan Balance Transfer
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- Indusind Bank Personal Loan of 6 Lakh
- Indian Bank small loans
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- 20 Lakh Home Loan EMI
- Union Bank of India Personal Loan of 8 lakh
- HSBC Bank Overdraft Loan
- HSBC Bank Personal Loan Transfer
- Yes Bank Travel Loan
- Kotak Travel Loan
- HDFC Personal Loan of 2 Lakh
- Canara Travel Loan
- HDFC Personal Loan of 4 Lakh
- SBI Personal Loan of 20,000
- Bank Of Baroda Small Loans
- RBL Bank Travel Loan
- SBI Personal Loan of 3 Lakh
- IndusInd Bank Medical Loan
- SBI Personal Loan of 5000
- SBI Personal Loan of 4 Lakh
- SBI Personal Loan of 40000
- BOB Personal Loan of 7 Lakh
- SBI Personal Loan of 7 Lakh
- SBI Personal Loan of 10 Lakh
- BOB Personal Loan of 50000
- BOB Personal Loan of 10 Lakh
- HSBC Bank Medical Loan
- HDFC Personal Loan of 3 Lakh
- Canara Bank Housewife Personal Loan
- HDFC Personal Loan of 5 Lakh
- SBI Personal Loan of 10000
- SBI Personal Loan of 25000
- Canara Bank Students Personal Loan
- PNB Bank Medical Loan
- ICICI Personal Loan of 10000
- ICICI Personal Loan of 5000
- ICICI Personal Loan of 15000
- HDFC Personal Loan of 1 Lakh
- BOB Personal Loan for Doctors
- BOB Personal Loan of 2 Lakh
- BOB Bank Wedding Loan
- HDFC Personal Loan of 6 Lakh
- Indusind Bank Personal Loan of 5 Lakh
- SBI Personal Loan of 15,000
- ICICI Personal Loan of 20000
- SBI Personal Loan of 30000
- ICICI Personal Loan of 50000
- SBI Personal Loan of 50000
- ICICI Personal Loan of 1 Lakh
- SBI Personal Loan of 1 Lakh
- SBI Personal Loan of 2 Lakh
- Indian Bank Medical Loan
- SBI Personal Loan of 5 Lakh
- SBI Personal Loan of 6 Lakh
- SBI Personal Loan of 8 Lakh
- ICICI Personal Loan of 2 Lakh
- SBI Personal Loan of 9 Lakh
- BOB Personal Loan of 10000
- BOB Personal Loan of 40000
- Bank of India Medical Loan
- BOB Personal Loan of 1 Lakh
- ICICI Personal Loan of 3 Lakh
- BOB Personal Loan of 8 Lakh
- BOB Personal Loan of 9 Lakh
- Bank of Maharashtra Wedding Loan
- Canara Bank Self Employed Personal Loan
- Karnataka Bank Wedding Loan
- Kotak Personal Loan for Wedding
- Indusind Bank Salaried Employee Personal loan
- Union Bank Students Personal loan
- Federal Bank Personal Loan of 3 Lakh
- ICICI Personal Loan of 10 Lakh
- Indusind Bank Personal Loan of 40000
- Indusind Bank Personal Loan of 8 Lakh
- Indusind Bank Personal Loan of 9 Lakh
- Union Bank of India Personal Loan of 2 lakh
- IDBI Bank Personal Loan of 50000
- Axis Bank Personal Loan of 40000
- Punjab Sind Bank overdraft loan
- Karnataka Bank Travel Loan
- Punjab & Sind Bank Medical Loan
- Federal Bank Medical Loan
- Canara Bank Short-Term loan
- Union Bank Small Personal Loan
- Federal Bank Travel Loan
- ICICI Bank Personal Loan Balance Transfer
- ICICI Personal Loan for Wedding
- Union Bank Personal Loan for Lawyers
- Federal Bank Personal Loan of 10 Lakh
- Yes Bank Personal Loan of 1 Lakh
- Union Bank of India Personal Loan of 4 lakh
- SBI Bank Personal Loan Balance Transfer
- RBL Bank Government Employees Personal loan
- Axis Bank Asha Home Loan Scheme
- Canara Bank Personal Loan for Wedding
- Kotak Mahindra Bank Personal Loan of 7 lakh
- Home Loan for 70000 Salary
- ICICI Credit Card Application Status
- Indusind Bank Senior Citizens/Pensioners Personal loan
- Indusind Bank Students Personal loan
- Indusind Bank Personal Loan for Doctors
- Union Bank of India Personal Loan of 1 lakh
- Axis Bank Personal Loan of 5000
- Axis Bank Personal Loan of 10000
- Axis Bank Personal Loan of 15000
- Indian Bank Personal Loan for Doctors
- Federal Bank Personal Loan of 50000
- Axis Bank Personal Loan of 1 lakh
- Union Bank Self Employed Personal loan
- Indusind Bank Personal Loan for Lawyers
- Federal Bank Personal Loan of 1 Lakh
- Union Bank Government Employees Personal loan
- Union Bank Personal Loan for Doctors
- Federal Bank Personal Loan of 4 Lakh
- Federal Bank Personal Loan of 7 Lakh
- Union Bank of India Personal Loan of 5 lakh
- ICICI Personal Loan of 4 Lakh
- BOB Students Personal Loan
- Axis Bank Personal Loan of 2 lakh
- Axis Bank Personal Loan of 3 lakh
- Union Bank Housewife Personal loan
- Federal Bank Personal Loan of 6 Lakh
- Axis Bank Personal Loan of 4 lakh
- Axis Bank Personal Loan of 5 lakh
- Indian Bank Personal Loan of 8 lakh
- Canara Bank Small Personal Loan
- Axis Bank Personal Loan of 6 lakh
- Axis Bank Personal Loan of 7 lakh
- Karur Vysya Bank short term personal loan
- Axis Bank Personal Loan of 8 lakh
- Union Bank Salaried Employee Personal loan
- Yes Bank Home Loan Eligibility Calculator
- 1 crore Home Loan EMI
- 50 Lakh Home Loan EMI
- 25 Lakh Home Loan EMI
- Union Bank Home Loan Eligibility Calculator
- HDFC Personal Loan of 10000
- HDFC Senior Citizen Personal Loan
- HDFC Government Employees Personal Loan
- HDFC Salaried Employee Personal Loan
- Yes Bank Personal Loan of 2 Lakh
- HDFC Personal Loan for Doctors
- Indusind Bank Personal Loan of 1 Lakh
- Union Bank of India Personal Loan of 6 lakh
- HDFC Personal Loan for lawyers
- SBI Personal Loan Eligibility Calculator
- RBL Bank Personal Loan of 10 Lakh
- IDFC First Bank Personal Loan of 2 Lakh
- Axis Senior Citizen Personal Loan
- Yes Bank Government Employee Personal loan
- Axis Government Employees Personal Loan
- Axis Salaried Employee Personal Loan
- Indian Bank Personal Loan of 10 lakh
- Indian Bank Salaried Employee Personal loan
- IDBI Bank Personal Loan of 40000
- Karnataka Bank small loans
- IDFC First Bank Personal Loan of 1 Lakh
- Canara Bank Personal Loan of 9 Lakh
- 10 Lakh SBI Home Loan
- Indian Bank Personal Loan of 9 lakh
- Canara Bank Personal Loan of 7 Lakh
- Axis Students Personal Loan
- Kotak Mahindra Bank Personal Loan of 6 Lakh
- RBL Bank Personal Loan for Lawyers
- Karnataka Bank overdraft loan
- Canara Bank Personal Loan of 6 Lakh
- Union Bank of India Personal Loan of 50000
- Union Bank Senior Citizens/Pensioners Personal loan
- Federal Bank Salaried Employee Personal loan
- RBL Bank Personal Loan of 7 Lakh
- RBL Bank Personal Loan Transfer
- RBL Bank Personal Loan of 8 Lakh
- Canara Bank Personal Loan of 10 Lakh
- BOB Salaried Employee Personal Loan
- Axis Bank Fast Forward Home Loan Scheme
- ICICI Bnak Self Employed Personal Loan
- IDFC First Bank Personal Loan of 5000
- Yes Bank Personal Loan of 7 Lakh
- ICICI Bnak Personal Loan for Doctors
- Federal Bank Students Personal loan
- 80 Lakh Home Loan EMI
- RBL Bank Personal Loan of 50000
- IDFC First Bank Personal Loan of 10000
- RBL Bank Personal Loan of 9 Lakh
- IDFC First Bank Personal Loan of 20,000
- Indian Bank Government Employees Personal loan
- IDFC First Bank Personal Loan of 25000
- RBL Bank Personal Loan of 6 Lakh
- IDFC First Bank Personal Loan of 40000
- SBI Government Employees Personal Loan
- Yes Bank Self Employed Personal loan
- SBI Salaried Employee Personal Loan
- SBI Students Personal Loan
- SBI Housewife Personal Loan
- SBI Self Employed Personal Loan
- Yes Bank Students Personal loan
- SBI Personal Loan for Doctors
- Indiabulls Home Loan Eligibility Calculator
- SBI Personal Loan for Lawyers
- Kotak Mahindra Bank Personal Loan of 5 Lakh
- Yes Bank Personal Loan of 4 Lakh
- BOB Senior Citizen Personal Loan
- IDFC First Bank Personal Loan of 50000
- Axis Bnak Personal Loan for Doctors
- Axis Bnak Self Employed Personal Loan
- Union Bank of India Personal Loan of 40000
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- Kotak Mahindra Bank Personal Loan of 3 Lakh
- Yes Bank Personal Loan of 50000
- Yes Bank Personal loan for Doctors
- Federal Bank Personal Loan of 8 Lakh
- Home Loan Eligibility Calculator
- IDFC First Bank Personal Loan of 4 Lakh
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- IDFC First Bank Personal Loan of 6 Lakh
- Indusind Bank Personal Loan of 10 Lakh
- Kotak Home Loan Eligibility Calculator
- IDFC First Bank Personal Loan of 7 Lakh
- Kotak Mahindra Bank Personal Loan of 4 Lakh
- IDFC First Bank Personal Loan of 8 Lakh
- Federal Bank Personal Loan of 5 Lakh
- Canara Bank Home Loan Eligibility Calculator
- IDFC First Bank Personal Loan of 9 Lakh
- Holi 2024
- Union Bank of India Personal Loan of 7 lakh
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- Yes Bank Personal Loan of 8 Lakh
- RBL Bank Personal Loan of 5 Lakh
- Federal Bank Self Employed Personal loan
- RBL Bank Personal Loan of 1 Lakh
- IDBI Bank Flexi Loan
- Canara Bank Salaried Employee Personal loan
- ICICI Personal Loan of 7 Lakh
- PNB Personal Loan of 50000
- Yes Bank Salaried Employee Personal loan
- Yes Bank Personal Loan of 6 Lakh
- RBL Bank Personal Loan of 40000
- PMEGP Loan
- ICICI Personal Loan of 6 Lakh
- HDFC Bank Personal Loan Balance Transfer
- BOB Self Employed Personal Loan
- IDFC First Bank Personal Loan of 10 Lakh
- Federal Bank Housewife Personal loan
- Kotak Bank Housewife Personal Loan
- PNB Personal Loan of 3 Lakh
- Kotak Bank Personal Loan for Lawyers
- Canara Bank Personal Loan for Senior Citizens
- Canara Medical Loan
- HDFC Personal Loan of 15000
- Axis Travel Loan
- RBL Bank Salaried Employee Personal loan
- Yes Bank Housewife Personal loan
- Home Loan for 40000 Salary
- 15 Lakh Home Loan EMI
- Indian Bank Personal Loan of 1 lakh
- 70 Lakh Home Loan EMI
- Canara Bank Personal Loan for Doctors
- Kotak Mahindra Bank Personal Loan of 9 lakh
- RBL Bank Self Employed Personal loan
- Personal Loan for Government Employees
- Canara Bank Personal Loan for Lawyers
- IDFC Personal Loan for Senior Citizens
- IndusInd Bank Overdraft Loan
- HDFC Personal Loan of 20000
- Federal Bank Personal Loan of 9 Lakh
- ICICI Bank Overdraft Loan
- PNB Personal Loan of 4 Lakh
- Indusind Bank Personal Loan of 30000
- HDFC Personal Loan of 50000
- Personal Loan of 20 Lakh
- PNB Personal Loan for Doctors
- Personal Loan for CIBIL Score 650
- Personal Loan for CIBIL Score 650
- Bank of Maharashtra personal loan transfer
- HSBC Bank Flexi Loan
- SBI Overdraft Loan
- Federal Bank Overdraft Loan
- Union Bank Flexi Loan
- HDFC Bank Overdraft Loan
- Personal Loan for CIBIL Score of 700
- IDBI Bank Senior Citizens/Pensioners Personal loan
- IDFC Salaried Employee Personal Loan
- 4 Crore Home Loan EMI
- 55 Lakh Home Loan EMI
- IDFC First Bank Overdraft Loan
- Axis Bank Overdraft Loan
- PNB short term personal loan
- Kotak Bank Overdraft Loan
- Union Bank Personal Loan Transfer
- Yes Bank Overdraft Loan
- Canara Bank Overdraft Loan
- ICICI Bank Flexi Loan
- Indian Bank Personal Loan of 5 lakh
- SBI Flexi Loan
- Kotak Bank Flexi Loan
- Loans
- Bank of India Senior Citizens Personal Loan
- Yes Bank Flexi Loan
- ICICI Personal Loan of 8 Lakh
- HDFC Personal Loan of 25000
- Federal Bank Personal Loan for Doctors
- ICICI Personal Loan of 9 Lakh
- IDBI Bank Government Employees Personal loan
- Canara Bank Flexi Loan
- 10 Lakh Home Loan EMI
- Indian Bank Personal Loan of 2 lakh
- 40 Lakh Home Loan EMI
- 2 crore Home Loan EMI
- ICICI Bank Short Term Loan
- SBI Short Term Loan
- Indian Bank overdraft loan
- IDFC First Bank Short Term Loan
- Axis Bank Short Term Loan
- Yes Bank Short Term Loan
- Union Bank of India Personal Loan of 30000
- Kotak Bank Short Term Loan
- BOB Personal Loan for Lawyers
- SBI Small Personal Loan
- HDFC Bank Small Personal Loan
- Federal Bank Personal Loan of 2 Lakh
- Indusind Bank Self Employed Personal loan
- IDBI Bank Personal Loan of 2 Lakh
- IDFC Students Personal Loan
- Indusind Bank Government Employees Personal loan
- IDFC First Bank Small Personal Loan
- Bank of Maharashtra Government Employees Personal Loan
- Axis Bank Personal Loan of 50000
- Bank of India Government Employees Personal Loan
- Axis Bank Small Personal Loan
- RBL Bank Flexi Loan
- Kotak Bank Small Personal Loan
- Bank of India Students Personal Loan
- IDFC Government Employees Personal Loan
- RBL Bank Personal Loan of 30000
- IDFC Housewife Personal Loan
- IDFC Home Loan Eligibility Calculator
- IDBI Bank Personal Loan for Lawyers
- IDFC Self Employed Personal Loan
- IDFC Personal Loan for Doctors
- HSBC Bank Wedding Loan
- Bank of India Self Employed Personal Loan
- IDFC Personal Loan for Lawyers
- Kotak Bank Salaried Employee Personal Loan
- HSBC Bank Travel Loan
- PNB Bank Travel Loan
- BOB Bank Medical Loan
- BOB Bank Travel Loan
- Union Bank Travel Loan
- Kotak Mahindra Bank Personal Loan of 10 lakh
- Indusind Bank Personal Loan of 4 Lakh
- ICICI Bnak Personal Loan for Lawyers
- Bank of Maharashtra Personal Loan of Rs. 5 Lakh
- Home Loan for 20000 Salary
- PNB Students Personal Loan
- Bank of Maharashtra overdraft loan
- Indusind Bank Short Term Personal Loan
- Bank Of Baroda Overdraft Loan
- Yes Bank Small Personal Loan
- RBL Bank Wedding Loan
- Bank of India Personal Loan for Doctors
- IndusInd Bank Wedding Loan
- ICICI Bank Small Personal Loan
- IndusInd Bank Travel Loan
- Bank of India Personal Loan for lawyers
- PNB Bank Wedding Loan
- Union Bank Wedding Loan
- Indian Bank Travel Loan
- Bank of India Wedding Loan
- PNB Senior Citizens/Pensioners Personal loan
- Bank of India Travel Loan
- Indian Bank Personal Loan of 6 lakh
- Bank of Maharashtra Medical Loan
- Bank Of Maharashtra Travel Loan
- Karnataka Bank Medical Loan
- Bank of Maharashtra small loans
- Punjab & Sind Bank Wedding Loan
- Karur Vysya Bank Medical Loan
- IDBI Bank Personal Loan of 30000
- Axis Super Save Home Loan Scheme
- 35 Lakh Home Loan EMI
- Karur Vysya Bank Wedding Loan
- HDFC Personal Loan of 7 Lakh
- Kotak Mahindra Bank Personal Loan of 50000
- Bank of Maharashtra Senior Citizens Personal Loan
- ICICI Personal Loan for Senior Citizen
- IDBI Bank small loans
- HDFC Personal Loan of 8 Lakh
- Bank of Maharashtra Personal Loan for Doctors
- BOB Personal Loan of 15,000
- 60 Lakh Home Loan EMI
- IDBI Bank Personal Loan for Doctors
- BOB Personal Loan of 20,000
- Karnataka Bank Government Employees Personal Loan
- BOB Personal Loan of 25000
- BOB Personal Loan of 30000
- BOB Personal Loan of 6 Lakh
- RBL Bank Housewife Personal loan
- BOB Personal Loan of 4 Lakh
- IDFC First Bank Personal Loan of 3 Lakh
- Indian Bank Students Personal loan
- Indian Bank Personal Loan of 7 lakh
- BOB Personal Loan of 5 Lakh
- ICICI Salaried Employee Personal Loan
- Kotak Bank Self Employed Personal Loan
- Kotak Mahindra Bank Personal Loan of 5000
- Axis Bank Personal Loan Balance Transfer
- Kotak Mahindra Bank Personal Loan of 10000
- Karur Vysya Bank overdraft loan
- IDBI Bank Personal Loan of 1 Lakh
- Kotak Mahindra Bank Personal Loan of 40000
- PNB Personal Loan of 30000
- Kotak Mahindra Bank Personal Loan of 30000
- Kotak Mahindra Bank Personal Loan of 8 Lakh
- RBL Bank Small Loan
- Kotak Bank Personal Loan for Doctors
- Home Loan for 30000 Salary
- ICICI Government Employee Personal loan
- Home Loan for 50000 Salary
- Home Loan for 60000 Salary
- Yes Bank Small Personal Loan
- Kotak Mahindra Bank Personal Loan of 1 lakh
- Canara Bank Personal Loan of 5000
- Canara Bank Personal Loan of 10000
- PNB Salaried Employee Personal loan
- Indusind Bank Personal Loan Transfer
- Canara Bank Personal Loan of 15,000
- Canara Bank Personal Loan of 20,000
- Canara Bank Personal Loan of 25000
- HSBC Bank Short Term Personal Loan
- Canara Bank Personal Loan of 30000
- Canara Bank Personal Loan of 40000
- Bank Of India short term personal loan
- Indusind Bank Small Loans
- Axis Bnak Personal Loan for Lawyers
- Federal Bank Short Term Personal Loan
- Punjab & Sind Bank Travel Loan
- Indusind Bank Flexi Loan
- Yes Bank Personal Loan of 40000
- Indian Bank Personal Loan of 4 lakh
- Indian Bank Personal Loan for Lawyers
- Canara Bank Personal Loan of 50000
- Canara Bank Personal Loan of 1 Lakh
- Union Bank Short Term Personal Loan
- Union Bank overdraft loan
- Canara Bank Personal Loan of 2 Lakh
- Karur Vysya Bank small loans
- Canara Bank Personal Loan of 3 Lakh
- IDBI Bank Self Employed Personal loan
- RBL Bank Medical Loan
- Canara Bank Personal Loan of 4 Lakh
- HDFC Personal Loan of 30000
- Canara Bank Personal Loan of 5 Lakh
- Federal Bank Wedding Loan
- Federal Bank Salaried Employee Personal Loan
- Axis Personal Loan for Wedding
- HDFC Personal Loan for Wedding
- SBI Personal Loan for Medical
- IDBI Bank Travel Loan
- Yes Bank Personal Loan of 3 Lakh
- Yes Bank Personal Loan of 5 Lakh
- SBI Personal Loan for Wedding
- HDFC Personal Loan of 5000
- IDBI Bank Wedding Loan
- DBI Bank Medical loan
- RBL Bank Students Personal loan
- HDFC Personal Loan of 40000
- 45 Lakh Home Loan EMI
- Karur Vysya Bank Travel Loan
- Union Bank of India Personal Loan of 10 lakh
- Canara Bank Personal Loan of 8 Lakh
- RBL Bank Overdraft Loan
- RBL Bank Personal Loan of 3 Lakh
- RBL Bank Personal Loan of 4 Lakh
- PNB Personal Loan of 2 Lakh
- IDBI Bank Personal Loan of 5 Lakh
- PNB Government Employees Personal loan
- IDBI Home Loan Eligibility Calculator
- SBI Home Loan Eligibility Calculator
- ICICI Home Loan Eligibility Calculator
- HDFC Home Loan Eligibility Calculator
- Navi Personal Loan Eligibility Calculator
- Axis Bank Personal Loan of 20000
- RBL Bank Short Term Personal Loan
- Bank Of India overdraft loan
- BOB Government Employees Personal Loan
- 5 Crore Home Loan EMI
- Canara Bank Government Employees Personal Loan
- ICICI Personal Loan of 5 Lakh
- IDBI Bank Students Personal loan
- IDBI Bank Personal Loan of 4 Lakh
- Axis Bank Empower Home Loan Scheme
- 85 Lakh Home Loan EMI
- HDFC Personal Loan for Medical
- Indian Bank Personal Loan of 3 lakh
- PNB Personal Loan of 1 Lakh
- Kotak Bank Government Employees Personal Loan
- Axis Bank Personal Loan of 10 lakh
- Bank of India Salaried Employee Personal Loan
- PNB Personal Loan of 40000
- IDBI Bank Personal Loan of 3 Lakh
- IDFC First Medical Loan
- ICICI Medical Loan
- Axis Bank Personal Loan For Medical
- Yes Bank Personal Loan for Wedding
- IDFC First Personal Loan for Wedding
- Kotak Medical Loan
- Yes Bank Medical Loan
- Indusind Bank Personal Loan of 3 Lakh
- Home Loan
- Personal Loan
- Loan Against Property
- Business Loan
- Federal Bank Personal Loan for Lawyers
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Frequently Asked Questions (FAQs)
Can a student get a 2 lakh loan?
Yes, a student can get a 2 lakh loan from some lenders if they meet certain eligibility criteria. For example, Finnable offers personal loans of up to 2 lakh for students who are enrolled in a full-time course at a reputed college or university and have a co-applicant who is a salaried employee with a minimum income of Rs. 20,000 per month.
Can I avail of a Rs 2 lakh personal loan without income proof?
No, it is not possible to avail a 2 lakh personal loan without income proof from most lenders. Income proof is one of the essential documents required to verify your repayment capacity and creditworthiness. However, some lenders may accept alternative proofs of income such as bank statements, tax returns, salary slips, or income certificates.
Can I prepay or foreclose on the ₹2 lakh personal loan?
Yes, you can prepay or foreclose the 2 lakh personal loan before the end of the tenure if your lender allows it. However, you may have to pay some charges or fees for doing so. The charges may vary depending on the lender, loan amount, tenure, and interest rate. For example, HDFC Bank charges up to 4% of the outstanding principal as prepayment or foreclosure charges for personal loans.
How does a ₹2 lakh personal loan affect my credit score?
A 2 lakh personal loan can affect your credit score positively or negatively, depending on how you manage it. If you repay the loan on time and in full, it can improve your credit score by showing your credit discipline and responsibility.
What happens if I miss an EMI payment for a ₹2 lakh personal loan?
If you miss an EMI payment for a 2 lakh personal loan, you may have to face some consequences, such as late payment fees or penal interest as per the lender’s policy, getting a negative remark on your credit report, facing legal action, etc.
How long is the repayment tenure for a ₹2 lakh personal loan?
The repayment tenure for a 2 lakh personal loan can range from 12 months to 60 months, depending on the lender and your preference. You can choose a shorter tenure to save on interest costs but pay higher EMIs, or a longer tenure to reduce your EMIs but pay more interest overall.
Can I get a ₹2 lakh personal loan with a low credit score?
It may be difficult to get a 2 lakh personal loan with a low credit score, as most lenders prefer applicants with good credit scores of at least 750 or above. However, some lenders may offer personal loans to applicants with low credit scores if they have other factors such as a high income, stable employment, collateral, or a guarantor.
Can I apply for a ₹2 lakh personal loan online?
Yes, you can apply for a 2 lakh personal loan online from various lenders such as banks, NBFCs, or fintech platforms. You can compare the interest rates, fees, features, and eligibility criteria of different lenders online and choose the best option for your needs.
Can I increase the loan amount after availing a ₹2 lakh personal loan?
No, you cannot increase the loan amount after availing a 2 lakh personal loan from most lenders. Once you have signed the loan agreement and received the loan amount, you cannot change the terms and conditions of the loan. However, some lenders may allow you to apply for a top-up loan or an additional loan if you have a good repayment history and credit score.