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20 Lakh Personal Loan

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Interest Rates for Rs 20 Lakh Personal Loan

Individuals applying for a personal loan of Rs 20 lakh can avail interest rates starting from 9.98% p.a. Some PSU banks might offer personal loans at a lower interest rate as well. The interest rates are offered depending on the credit profile of the applicants.

Eligibility Criteria of Individuals Availing a Personal Loan of Rs 20 Lakh

Below mentioned is the eligibility criteria of personal loan applicants set by banks and NBFCs.

  • The minimum age of the applicant at the time of loan application should be 18 years and the maximum age at the time of loan maturity should be 60 years.
  • Minimum monthly income of eligible applicants should be Rs 25,000.
  • Salaried and self-employed individuals are eligible for personal loan of Rs 20 lakh.
  • Applicants having a credit score of 750 and above usually have higher chances of availing personal loan at lower interest rates.
  • Applicant should have an EMI/NMI ratio of up to 55% including the EMI of the existing loan and proposed loan.

Documents Required for Personal Loan of Rs 20 Lakh

Applicants should have the below-mentioned documents during personal loan application:

  • KYC documents- ID proof and address proof
  • Bank statement for last 6 months
  • Salary slip for last 3 months

EMI for Rs 20 Lakh Personal Loan

Personal loan applicants can use the online Personal Loan EMI Calculator to calculate the EMI and interest cost payable throughout the loan tenure. Below-mentioned is the EMI of Rs 20 lakh personal offered for various tenures at 9.99% p.a.

Tenure Loan Amount (Rs) Interest Rate (p.a.) EMI (Rs)
1 year 2000000 9.99% 1,75,822
2 years 2000000 9.99% 92,281
3 years 2000000 9.99% 64,525
4 years 2000000 9.99% 50,716
5 years 2000000 9.99% 42,484

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Fees and Charges on Rs 20 Lakh Personal Loan

  • Processing Charges- Up to 4% of loan amount
  • Prepayment Fees- Up to 5% of the outstanding loan amount
  • Penal Charges- Up to 2% p.a.
  • EMI Bounce Charges- Rs 400

Apply for Personal Loan as per Your Loan Amount Needs

1 Lakh Personal Loan 2 Lakh Personal Loan
4 Lakh Personal Loan 5 Lakh Personal Loan
6 Lakh Personal Loan 10 Lakh Personal Loan
15 Lakh Personal Loan 3 Lakh Personal Loan
30 Lakh Personal Loan 40 Lakh Personal Loan
50 Lakh Personal Loan 75 Lakh Personal loan

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Explore Our Personal Loan Lenders

HDFC BANKHDFC BANKAxis BankAxis BankKotak Mahindra BankKotak Mahindra BankICICI BankICICI BankFederal BankFederal BankIDFC First BankIDFC First BankIndusind BankIndusind BankRBL BankRBL BankTata CapitalTata Capital
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FAQs

Personal loan applicants availing a loan amount of Rs 20 lakh are offered a minimum interest rate of 9.99% p.a.

The total interest cost of 20 lakh personal loan offered  at 9.99% p.a. for 3 years would be Rs 3,22,899.

The EMI of Rs 20 lakh personal loan offered at 11% p.a.for tenure of 5 years would be 43,485.

You can apply for a personal loan of Rs 20 lakh either through the official website of banks and NBFCs or through their mobile app. Applicants can also visit Paisabazaar app to compare the rates and other offers by various lenders and apply for the personal loan of Rs 20 lakh.

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What our customers say

Meri shaddi thi

Shadi mai bht kharche hote hai. Maine shaddi ke liye personal loan paisabazaar se liya tha. Process smooth tha or interest bhi sahi milla.

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Sadia KhatunJan 15, 2026

Travel ke liye personal loan liya tha

Mai bohot din se out of India ghumne jana chahti thi lekin jab jane ka time mila toh budget kaam padh raha tha, Paisabazaar se personal loan leke bht acha trip kiya. Maza agaya. Mere upar koi burden bhi nhi padha

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Tarini RoyJan 14, 2026

Easy personal loan available

Took personal loan. Good experience.

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Ruchika TiwariJan 14, 2026

Medical Emergency thi, loan jaldi mil gya

Muhje ek medical emergency ke liye personal loan lena padha. Paisabazaar pe bht jaldi or smooth process tha. time pe kaam agaya.

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Raj SinghJan 13, 2026

Compare karke sahi rate mila

Loan offers jab comapre kiya toh pata chala konse loan lene se muhje sahi mai faida hoga. Isiliye Paisabazaar muhje best laga.

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Akrity PandeyJan 5, 2026

Personal loan fatfat mai mil gaya

Muhje paiso ki urgent need thi. Paisabazaar se loan jaldi or sahi rate pe mil gaya.

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Riya MehraJan 5, 2026

Loan from Paisabazaar was actually paperless

I always used to think that the paperless loan is a myth. But on Paisabazaar, I applied for the pre approved loan from IDFC Bank and all documentation was already done. I just filled the form, did kyc and my loan was approved and disbuursed one the same day.

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Tanmay BorkatakiDec 12, 2025

Best place for a small loan

I have take loan of 60-70000 three times from paisabazaar in 4 years and every time it has been a very good experience. They provide the loan without failure and have also helped me improve my cibil.

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Aridaman Singh ParhichaDec 11, 2025

My loan got approved immediately

I wanted a loan and I was able to get it approved through Paisabazaar. It was instantaneous and I got the amount in my account in 2 days only.

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Priyam Sarkar MajumdarDec 10, 2025

I get loan from here

I get loan from Paisabazaar here and it is very quickly given to me.

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Bilal ZaidiDec 9, 2025
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