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.
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Get up to ₹50 Lakhs starting at 9.98%
15.5L Reviews
Wide Choice
Curated offers from 30+ lenders
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Money in your account instantly
SmartMatch
Offers ranked according to eligibility
Digital Process
Hassle-free & paperless
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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
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.
Documents Required for Personal Loan of Rs 20 Lakh
Applicants should have the below-mentioned documents during personal loan application:
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
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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
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