Apply for 2 lakh personal loan

2 Lakh Loan: Get Personal Loan of Rs. 2 Lakh Instantly

2 Lakh Personal Loan Instantly: 2 Lakh Loan Scheme

Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!

A personal loan is a great way to meet your immediate financial requirements. The introduction of digitization in the Banking and Finance sector has further eased the availability of loans. With online lenders, you can now avail of a personal loan almost instantly and take care of your financial needs hassle-free. 

Moreover, another major advantage of a personal loan is that it is an unsecured loan which means you do not have to pledge any collateral. You can utilise the loan amount for various purposes as personal loans are multipurpose loans. Suppose you are looking to apply for a personal loan of ₹ 2 lakhs. In that case, you can use it for managing medical expenses, travel expenses, debt consolidation, purchasing a bike, paying for some educational courses, etc.

You can consider applying for a personal loan at Finserv MARKETS. Simple eligibility criteria, collateral-free financing, affordable personal loan EMI, and flexible repayment tenor are some of the major advantages of using a personal loan at Finserv MARKETS. Before you apply, however, it is a good idea to know the eligibility criteria you need to fulfil for your loan application to be approved.

Eligibility Criteria for ₹ 2 Lakh Personal Loan

The basic eligibility criteria required to avail of a personal loan at Finserv MARKETS are as under:

  • You must be an Indian Citizen.

  • You must be a salaried individual employed in the public sector, a private limited company, or an MNC.

  • You must be between 23 - 58 years of age.

It is to be noted that lenders usually check your credit score before approving the loan application. Therefore, you should make efforts to improve your credit score before applying for a personal loan. Having a credit score of 750 or above can help you avail of the loan at a highly competitive interest rate. Moreover, if you have a credit score of 750 or above, you can negotiate with the lender to avail favourable terms on your personal loan. You can improve your credit score gradually by making timely repayment of existing loans, clearing outstanding dues, minimising credit utilisation ratio, etc.

It is a good idea to have done eligibility-related calculations beforehand, for it would not only reduce the chances of rejection of your loan application but also allow you to have a better understanding of your bargaining power while negotiating the terms and conditions of the loan.

₹ 2 Lakh Personal Loan Application Process

Applying for a personal via Finserv MARKETS is a simple and hassle-free process. You can follow the steps mentioned below to apply for a personal loan through Finserv MARKETS:

  • Step 1: Visit the official Finserv MARKETS website.

  • Step 2: Fill out the online application form by providing your accurate personal, financial, and employment details.

  • Step 3: Mention the loan amount and repayment tenor you wish to settle for.

  • Step 4: Once you’ve filled in the necessary details, a representative will get in touch with you to collect the required documents.

  • Step 5: The lender will review the application and verify your documents. Once everything is found to be satisfactory, you will receive the money in your bank account within 24 hours of loan approval.

Documents Required for ₹ 2 Lakh Personal Loan

Let us have a look at the documents required to avail a personal loan at Finserv MARKETS:

  • Address proof such as Passport, PAN card, Aadhar card, Voter’s ID card, and Driving License

  • Identity proof like PAN Card

  • Bank Statement for the last 3 months

Make sure that you have all these documents readily available with you before you begin the personal loan application process. This will help you avoid any inconvenience at a later stage.

₹ 2 Lakh Personal Loan EMI Calculator

It is advisable that you do your maths and calculate the EMI for your ₹ 2 lakh personal loan beforehand. This will help you make timely repayment of the loan amount. Timely  repayment is essential to keep your credit score intact. You can use an online personal loan EMI calculator to get an estimate of your personal loan EMI.

The formula used for calculating personal loan EMI is:

E = P x R x (1+R)^N/ ((1+R)^N-1), where:

  • E stands for monthly instalments

  • P is the amount that you want to borrow.

  • R is the rate of interest

  • N is the loan tenor in months.

Availing a personal loan at Finserv MARKETS is one of the easiest ways to meet your financial needs. Apart from instant approval and quick disbursal, some of the other benefits of availing personal loans at Finserv MARKETS include minimal documentation, online account access, low processing charges, prepayment facility and zero hidden charges. You also get the option to customise your personal loan as per your requirements. So why wait? Avail a personal loan and meet your monetary requirements with ease, today.

Frequently Asked Questions

  • ✔️What is the monthly interest on a ₹ 2 lakh personal loan?

    The interest rate on personal loans is different for different lenders and depends upon a number of factors such as your credit score, income and tenor of the loan. The interest rate can be as low as just 8% p.a. and can go up to 35% p.a. depending upon the aforementioned factors.

  • ✔️Which bank is the best for a personal loan of ₹ 2 lakh?

    Although, as mentioned earlier, the interest rates on personal loans vary from lender to lender, you can expect competitive interest rates (anywhere around 10%-12%) from large private sector banks such as HDFC, ICICI and Kotak.

  • ✔️Can I avail a ₹ 2 lakh personal loan without income proof?

    Yes, many lenders would be willing to offer you a personal loan of ₹ 2 lakhs without any income proof, provided you have at least a decent credit history. The loan approval becomes even easier if you apply with a co-applicant.

  • ✔️What are the factors that can affect ₹ 2 lakh Personal loan EMI?

    Your loan EMI depends upon a number of factors including the loan tenor, your credit history, your income and in some cases, also the reason for applying for the loan.