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Personal Loan for 2 Years

Learn how to apply for a 2-year personal loan online at Bajaj Markets, where you can compare across multiple lenders.

Loan tenure plays a crucial role in financial planning, as it impacts your monthly EMI, total interest outgo, and overall repayment timeline. A 2-year personal loan is ideal if you prefer quicker repayment with moderate EMIs and lower interest costs.

EMI Calculator for a 2-Year Personal Loan

A personal loan EMI calculator is a convenient online tool that helps you estimate your monthly instalments based on the loan amount, interest rate, and repayment tenure. It simplifies financial planning by giving a clear picture of your monthly instalments.

To use the calculator, follow these steps:

  1. Enter the loan amount you plan to borrow

  2. Provide the interest rate (for example, 9.99% p.a.) to get an estimate

  3. Choose the repayment tenure (such as 24 months or 2 years)

  4. Click on ‘Calculate Now’ to view your EMI, total interest payable, and overall repayment amount

Example

For a personal loan of ₹10 Lakhs at an interest rate of 9.99% p.a. with a tenure of 2 years, the calculator shows the following information:

  • EMI: ₹46,140

  • Total Interest Payable: ₹1,07,367

  • Total Repayment (Principal + Interest): ₹11,07,367

This calculation provides a clear understanding of your repayment obligations, helping you plan your finances with confidence.

Personal Loan Details for 2 Years

Check out the details of the personal loans for 2 years from the lenders available on Bajaj Markets:

Particulars Details

Minimum Loan Amount

₹5,000

Maximum Loan Amount

₹55 Lakhs

Starting Interest Rate

9.99% p.a.

Number of Partners Available

20

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

Key Features and Benefits of a 2-Year Personal Loan

High Loan Amount

You can apply for a personal loan of up to ₹55 Lakhs on Bajaj Markets, allowing you to meet large financial requirements.

Lower Interest Costs

The shorter repayment period results in lower total interest outgo compared to long-term loans. This helps you save money over time.

Faster Loan Closure

You can repay the loan quickly and reduce your debt burden within a manageable period of 2 years.

Easy Online Application Process

Bajaj Markets provides a streamlined online application process with limited documentation requirements and chances of fast approval. 

Quick Access to Funds

Short-term loans come with a faster approval and disbursal compared to long-term options. You can also receive funds quickly to manage urgent needs.

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Interest Rates and Charges of Lenders Offering Personal Loans For 2 Years

Check the table below for interest rates, loan amounts, tenures, and processing fees offered by top lenders for a 2-year personal loan on Bajaj Markets:

Available Offerings Max. Loan Amount Min. Interest Rate Max. Tenure Processing Fee

Privo (Credit Saison) Personal Loan

₹5 Lakhs

9.99% p.a.

60 months

1% to 3% of the loan amount

Bajaj Finance Personal Loan

₹55 Lakhs

10% p.a.

96 months

Up to 3.93% of the loan amount

Kotak Mahindra Bank Personal Loan

₹40 Lakhs

10.99% p.a.

72 months

Up to 1.10% - 1.50% of the loan amount + GST

L&T Finance Personal Loan

₹15 Lakhs

12% p.a.

48 months

Up to 3% of the loan amount

KreditBee Personal Loan

₹10 Lakhs

12% p.a.

60 months

Up to 5.1% of the loan amount

SMFG India Credit Personal Loan

₹25 Lakhs

12% p.a.

60 months

0% to 6% of the loan amount

Freo (Formerly MoneyTap) Personal Loan

₹5 Lakhs

12% p.a.

36 months

1% onwards

YES BANK Personal Loan

₹50 Lakhs

12.50% p.a.

72 months

1.15% to 2.75% of the loan amount

Federal Bank Personal Loan

₹5 Lakhs

12.75% p.a.

48 months

2% to 3% of the loan amount

Aditya Birla Capital Personal Loan

₹7 Lakhs

13.50% p.a.

60 months

Up to 4% of the loan amount

PaySense Personal Loan

₹5 Lakhs

14% p.a.

60 months

2% to 2.5% of the loan amount or ₹500 (whichever is higher)

Fibe Personal Loan

₹5 Lakhs

14% p.a.

36 months

Up to 2% of the loan amount

Kissht Personal Loan

₹4 Lakhs

14% p.a.

24 months

3% to 5% of the loan amount

Muthoot Finance Personal Loan

₹10 Lakhs

14.50% p.a.

60 months

2% to 4% of the loan amount

Finnable Personal Loan

₹10 Lakhs

15.95% p.a.

60 months

Up to 3% of the loan amount

InCred Personal Loan

InCred Personal Loan

16% p.a.

60 months

2% to 5% of the loan amount

Moneyview Personal Loan

₹10 Lakhs

1.33% p.m.

60 months

Starts from 2% of the loan amount

Piramal Finance Personal Loan

₹6 Lakhs

17.25% p.a.

60 months

1.5% to 4.5% of the loan amount

Upwards Personal Loan

₹5 Lakhs

18% p.a.

36 months

Up to 4% of the loan amount

IIFL Finance Personal Loan

₹5 Lakhs

18% p.a.

42 months

2% to 6% of the loan amount

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

Personal Loan EMIs For 2 Years For Different Loan Amounts

Check out the approximate EMIs for different loan amounts at an interest rate of 9.99% p.a. for a 2-year tenure:

Loan Amount Interest Rate EMI Amount for a 2-Year Tenure

₹1 Lakh

9.99% p.a.

₹4,614

₹2 Lakhs

9.99% p.a.

₹9,228

₹5 Lakhs

9.99% p.a.

₹23,070

₹10 Lakhs

9.99% p.a.

₹46,140

₹25 Lakhs

9.99% p.a.

₹1,15,350

₹50 Lakhs

9.99% p.a.

₹2,30,701

Disclaimer: The calculation of EMI is for illustration purposes only. Actual figures may vary depending on the loan terms.

Eligibility Criteria for a 2-Year Personal Loan

To apply for a personal loan with a tenure of 2 years on Bajaj Markets, you need to meet certain eligibility criteria. These include:

  • Nationality: Indian citizenship

  • Age: Minimum age of 18 years

  • Employment: Salaried employee or self-employed individual

  • Work Experience: Minimum work experience of 6 months

  • Income: A minimum monthly income of ₹9,000 is required

  • Credit Score: CIBIL score of 685 or above

Documents Required for a 2-Year Personal Loan

Here is a list of necessary documents you would require when applying for a 2-year personal loan:

Document Type Accepted Documents

Identity Proof (Any one)

Aadhaar Card, PAN Card, Voter ID, Passport, Driving Licence

Address Proof (Any one)

Aadhaar Card, Passport, Voter ID, Driving Licence, Telephone Bill, Electricity Bill

Income Proof (Any one)

Last 3 Months’ Bank Statements or Salary Slips

How to Apply for a 2-Year Personal Loan on Bajaj Markets

Bajaj Markets allows you to apply for a 2-year loan quickly and without any hassle. Follow these steps to get quick approval and funds within minutes:

1. Click on the ‘Apply For Loan’ option

2. Select your profession and enter your mobile number and PIN code

3. Accept the terms and conditions after reading carefully

4. Click on the ‘Proceed’ button

5. Enter or choose the following details as required:

  • PAN

  • Name as per PAN card

  • Date of birth

  • Employer category

  • Employer/company name

  • Net monthly salary

  • Email ID

  • Gender

  • Salary credit mode (Bank or Cash)

6. Click on the ‘Submit’ button

7. Review and select loan offers based on your eligibility 

8. Add additional details if needed

After you submit the application, an executive will contact you to take the process forward. The loan is then subject to verification and approval by the lender. Once approved, the funds are disbursed to your bank account.

Frequently Asked Questions

Can I get a personal loan for 2 years?

Yes, personal loans with a 2-year tenure are available on Bajaj Markets. They are ideal if you are looking for a short-term repayment period with manageable EMIs.

Yes, a 2-year personal loan is a short-term loan. It comes with higher EMIs but helps save on total interest compared to long-term loans.

You can calculate the EMI for a 2-year loan using an online personal loan EMI calculator by entering the loan amount, interest rate, and tenure. The calculator will instantly show your monthly EMI, total interest payable, and total repayment amount.

The EMI for a loan depends on factors like the loan amount, interest rate, and tenure. For a personal loan of ₹5,000 loan for 2 years, the EMI at an interest rate of 14% p.a. would be approximately ₹240. The EMI can vary significantly based on changes in the interest rate and loan tenure.

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