Personal loans have gained prominence as an efficient financial tool, when you urgently need funds. It could be to meet a personal emergency or even to go on vacation. Personal loans help you meet diverse financial requirements.
You can apply for a Rs. 20,000 loan through Bajaj Markets at low interest rates and repay it over a flexible repayment tenure. It is possible to avail these loans with minimal documents and no collateral is required for availing them either.
Year | Principal | Interest | Balance |
---|
Our Partners
|
Maximum Loan Tenure
|
Maximum Loan Amount
|
Minimum Interest Rate
|
|
---|---|---|---|---|
Bajaj Finance Limited |
72 months |
₹35 Lakhs |
11% p.a. |
|
CASHe |
12 months |
₹4 Lakhs |
27% p.a. |
|
Federal Bank |
48 months |
₹5 Lakhs |
11% p.a. |
|
Fibe |
36 months |
₹5 Lakhs |
14% p.a. |
|
Finnable |
60 months |
₹10 Lakhs |
15.95% p.a. |
|
IIFL Finance |
42 months |
₹5 Lakhs |
18% p.a. |
|
InCred |
72 months |
₹10 Lakhs |
16% p.a. |
|
Kotak Mahindra Bank |
60 months |
₹25 Lakhs |
10.99% p.a. |
|
KreditBee |
24 months |
₹4 Lakhs |
18% p.a. |
|
L&T Finance |
48 months |
₹15 Lakhs |
11% p.a. |
|
moneyview |
60 months |
₹5 Lakhs |
16% p.a. |
|
mPokket |
10 months |
₹45,000 |
24% p.a. |
|
Muthoot Finance |
60 months |
₹15 Lakhs |
14.50% p.a. |
|
Olyv |
12 months |
₹5 Lakhs |
1.5% p.m. |
|
PaySense Partners |
60 months |
₹5 Lakhs |
15% p.a. |
|
Privo |
60 months |
₹5 Lakhs |
9.99% p.a. |
|
SMFG India Credit |
60 months |
₹25 Lakhs |
12% p.a. |
|
Upwards |
36 months |
₹5 Lakhs |
1.5% p.m. |
|
YES BANK |
72 months |
₹50 Lakhs |
10.99% p.a. |
|
Zype |
12 months |
₹5 Lakhs |
18% p.a. |
|
Disclaimer: The rates mentioned above are subject to constant change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenure, your age, your monthly income, and your CIBIL score.
It is important to understand the eligibility criteria to getting a personal loan before you make an application in order to avoid rejection. Read on below to learn the eligibility criteria for availing a Rs. 20,000 loan.
Criterion |
Particulars |
Nationality |
Indian |
Nature of Employment |
Self-employed or salaried individual |
Age |
21 years and above |
Minimum Net Monthly Income |
Rs. 15,000 |
Minimum Work Experience |
2-3 years |
Credit Score |
600 or higher |
For applicants new to credit scoring, NTC score |
Above 150 |
The documents you are required to submit in order to avail a Rs. 20,000 personal loan are listed below.
Documents Required |
Particulars |
Proof of Identity |
Aadhaar Card, PAN Card, Voter’s ID, etc. |
Proof of Residence |
Passport, Aadhaar Card, Utility Bills, etc. |
Proof of Income |
Salary slips or bank statements from the last 3 months |
Photographs |
2 passport-sized |
Applying for a Rs. 20,000 personal loan is an extremely simple and quick process. Read on below to learn how you can get a Rs. 20,000 loan urgently.
You can also apply for a Rs. 20,000 loan offline by visiting a branch of the lender and availing and submitting the application form and documents at the office itself.
Also Check Other Instant Personal Loan Options |
|
The documents listed above are essential to availing a personal loan.
For a Rs. 20,000 personal loan, your credit score must be 650 or higher.
Yes, anybody earning more than Rs. 15,000 a month can apply for a personal loan.
Yes, it is possible to get a Rs. 20,000 personal loan without collateral.
The choice of lender can differ across individuals and it is best to go with one that best meets your requirements after checking particulars like repayment tenure, interest rate, etc.
Depending on your eligibility, a personal loan can be disbursed to your account within a matter of a few minutes. However, this is subject to the approval of your loan application.
The principal amount, the interest rate and the tenure of your loan determine the EMI you are likely to pay on your personal loan. Let us assume that you have taken a loan of ₹20,000 at an interest rate of 12% p.a. for a tenure of 2 years. Based on these values, the EMI amount will be ₹941.
On Bajaj Markets, you can apply for a personal loan of ₹20,000 at interest rates starting from as low as 9.99% p.a.
On Bajaj Markets, you can opt for a repayment tenure as low as 2 months to up to 6 years when you apply for a personal loan.
You can apply for a personal loan on Bajaj Markets if you fulfil the following eligibility criteria:
Nationality - Indian
Nature of Employment - Salaried Individual working with a public/private firm or Self-Employed
Age - 18 years and above
Minimum Net Monthly Income - ₹15,000
Minimum Work Experience - 2-3 years
Credit Score - 600 or above