Avail Instant Personal Loans ✓ Quick Disbursal ✓ Minimum Documentation! Check Offer

On Bajaj Markets, you can get a personal loan of ₹2 Lakhs to fulfil all your personal requirements. The documentation requirements are minimal and the digital application process is quite seamless. Additionally, the straightforward eligibility requirements and a wide range of lender choices ensure that you secure the necessary funds on favourable terms.

Interest Rate for a Personal Loan of ₹2 Lakhs

The interest rates provided by lenders that offer personal loans of ₹2 Lakhs on Bajaj Markets are as follows:

Lenders

Starting Interest Rate

Bajaj Finance

11% p.a.

CASHe

27% p.a.

Federal Bank

11% p.a.

Fibe

14% p.a.

Finnable

15.95% p.a.

IIFL

16.50% p.a.

InCred

16% p.a.

Kissht

14% p.a.

Kotak Mahindra Bank

10.99% p.a.

KreditBee

15% p.a.

L&T Finance

12% p.a.

moneyview

15.96% p.a.

Muthoot Finance

14.50% p.a.

PaySense

14% p.a.

Privo

9.99% p.a.

SMFG India Credit

12% p.a.

Upwards

18% p.a.

YES BANK

12.50% p.a.

Zype

18% p.a.

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

Calculate the EMI for a Personal Loan of ₹2 Lakhs

Loan Amount
Tenure
Months
Rate of Interest
Personal Loan
Your Monthly Personal Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

EMI for a Personal Loan of ₹2 Lakhs Over Varying Tenures

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

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

12 months

₹17,582.25

₹10,986.97

₹2,10,986.97

24 months

₹9,228.06

₹21,473.49

₹2,21,473.49

36 months

₹6,452.50

₹32,289.95

₹2,32,289.95

48 months

₹5,071.56

₹43,434.70

₹2,43,434.70

60 months

₹4,248.42

₹54,905.50

₹2,54,905.50

72 months

₹3,704.16

₹66,699.45

₹2,66,699.45

84 months

₹3,319.2

₹78,813.09

₹2,78,813.09

96 months

₹3,033.77

₹91,242.37

₹2,91,242.37

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

Eligibility Criteria & Documents Required for a Personal Loan of ₹2 Lakhs

The basic eligibility criteria for a personal loan of ₹2 Lakhs are as under:

  • You must be an Indian citizen

  • You must be salaried or self-employed

  • You must be between 18 and 68 years of age

  • You must have a minimum monthly salary of ₹15000

 

Also, having a CIBIL score of 750 or more can improve your eligibility. The criteria may vary depending on the lender you choose. Get a complete understanding of the requirements set by your chosen lender before applying. 

 

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

  • KYC documents:

    • Address proof: Passport, PAN card, Aadhaar card, voter ID card, and driving licence

    • Identity proof: PAN card, Aadhaar card, etc.

  • Income proof: Bank statement of the last 3 months

 

You may be asked to provide additional documents. Ensure to get a comprehensive list of documents required when applying for a seamless process.

Disclaimer

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

Frequently Asked Questions

What is the monthly interest on a ₹2 Lakh personal loan?

On Bajaj Markets, personal interest rates can be as low as 9.99% p.a. The rate offered to you may vary as per your loan eligibility and your chosen lender’s policies.

Which bank is the best for a personal loan of ₹2 Lakh?

Some of India’s renowned financial institutions like YES BANK, Federal Bank, Bajaj Finance, Muthoot Finance, and more offer ₹2 Lakh personal loans on Bajaj Markets. Compare and choose an offer that best suits your requirements and repayment capacity. 

Can I get a personal loan of ₹2 Lakhs without income proof?

Yes, lenders like Zype offer a personal loan of ₹2 Lakhs without any income proof requirements. This may be a great option to get quick access to the required amount.

What factors affect the EMI of my personal loan of ₹2 Lakhs?

The interest rate and tenure have a major impact on your loan EMI. Also, if you opt for prepayments, the EMI of your loan may be revised. 

How to get ₹2 Lakhs instantly?

Apply for a personal loan of ₹2 Lakhs on Bajaj Markets. Fill in the application form online and choose from multiple loan providers available on the platform. Once approved, the loan amount is quickly disbursed to your bank account.

Can I prepay my personal loan of ₹2 Lakhs without any charges?

Usually, you are required to pay a charge when prepaying your personal loan of ₹2 Lakhs. This may depend on the policies of your lender. Reach out to your loan provider and confirm the fee charged for loan prepayment before you opt for this facility.

Home
active_tab
Loan Offer
active_tab
CIBIL Score
active_tab
Download App
active_tab