₹2 Lakh Personal Loan

A ₹2 Lakh personal loan is a flexible option for covering expenses such as home renovation, travel, education, or medical needs. Personal loans come with quick approval, minimal paperwork, and allow you to choose an EMI that suits your budget without straining your savings.

For example, at 9.99% interest rate for 3 years, the EMI is about ₹6,452 with total interest of roughly ₹32,289. For a 2‑year tenure, the EMI is around ₹9,228 and interest about ₹21,473.

Numerous lenders on Bajaj Markets offer a ₹2 Lakh personal loan. Compare interest rates, tenures, and processing fees to find one that suits your requirements.

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

Below are the key features of a ₹2 Lakh loan:

• Quick Processing: Applications are reviewed and approved rapidly, allowing you to handle urgent financial needs without unnecessary delays.
• Flexible Repayment: Choose a loan tenure that matches your budget and repayment comfort.
• Minimal Paperwork: Only essential documents are required, making the application simple and hassle‑free.
• No Collateral Needed: You can secure the loan without pledging any assets, ensuring a stress‑free borrowing experience

Let’s say the interest rate levied on your ₹2 Lakh loan is 9.99% p.a. Here is how the EMI amount will differ across various tenures:

Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

The basic eligibility criteria for a ₹2 Lakh personal loan are mentioned below:

1. You must be an Indian citizen.
2. You must be salaried or self-employed.
3. You must be between 18 years of age.
4. You must have a minimum monthly salary of ₹10,000.
5. Your CIBIL score for a personal loan of ₹2 Lakhs must be 750 or more. You can check your CIBIL score online with just a few clicks. 

You will also have to provide a set of documents when applying. Here are some documents to keep handy:

Refer to the table below to know the fees and charges levied by various lenders:

Disclaimer: The mentioned details are subject to change at the lender’s discretion.

You can follow these steps to apply for a personal loan online:

1. Start your application process by clicking on 'Apply Now'
2. Choose your profession from the dropdown list
3. Enter your mobile number and PIN code
4. Carefully read and accept the terms and conditions
5. Click ‘Proceed’ to move to the next step
6. On the following page, fill in or select the required details, including:
   
   
   • PAN number
   • Full name (as mentioned on your PAN card)
   • Date of birth
   • Net monthly income
   • Type of employer
   • Employer or organisation name
   • Email address
   • Gender
   • Mode of salary credit (Bank or Cash)
     
     
7. Once all fields are completed, click ‘Submit’
8. You’ll then see personalised loan offers based on your eligibility
9. Review the available options and select the one that suits you best
10. If prompted, provide any additional information required to complete the process.
11. You’ll be redirected to the chosen lender’s platform to complete KYC verification, set up an e-mandate, and proceed with loan disbursal

Note: This process is designed specifically for salaried applicants. If you choose self-employed as your profession, you will be taken to a separate application flow where you’ll need to submit details such as monthly business turnover and other relevant information. Please follow the instructions displayed on the screen.

Your needs and dreams may be fulfilled with a personal loan of ₹2 Lakhs. It provides the financial flexibility to cover a variety of expenses, such as:

• Wedding Expenses

You need to have arrangements for the venue, catering, décor, and photography. A personal loan helps you plan your ideal wedding without financial stress. You may also use the personal loan for wedding for last-minute bookings or guest accommodation costs.

A personal loan of ₹2 Lakhs helps make your special day memorable without financial constraints.

• Home Renovation Expenses

You may use a personal loan for home improvement. It supports expenses such as leak repairs, repainting, remodelling, or buying new furniture. The loan helps you enhance your living space while making manageable repayments, without delaying repairs due to a restricted budget.

• Education Costs

A personal loan ensures you or your child can continue accessing quality education. It helps cover tuition fees, books, exam charges, and accommodation. Whether pursuing professional courses or international studies, a personal loan for education financially accessible.

• Medical Emergencies

You may use a personal loan to cover hospital bills, medical procedures, medications, and consultation charges. It ensures that you or your loved ones receive timely and appropriate treatment without needing to arrange funds during critical times.

• Travel Plans

A personal loan supports your travel aspirations. Whether planning an overseas trip, a family holiday, or an adventure getaway, a travel loan can help fund your airfare, stay, sightseeing, and shopping. You may travel to your desired destinations and repay the loan in affordable instalments later.

• Debt Consolidation

Managing several loans and credit card dues becomes easier with a personal loan. You may repay all outstanding debts by consolidating them into one loan. A debt consolidation loan can lower your monthly financial load, improve your credit score, and make repayment tracking easier.

Reference of all T&Cs necessarily refers to the terms of the Partners as regards pre-approved offers and loan processing time amongst other conditions.