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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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Compare & Choose the Best Offer

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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

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

Excellant EMI calculator and expert assistance available

The EMI calculator helped me choose the right repayment plan. Clear guidance at every step made the loan process really easy.

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Mohit YadavDec 3, 2025

Fully Digital Process for Real.

Loved the real-time loan status updates.Everything was handled online — didn’t have to visit any branch.

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Gautam BakshiDec 3, 2025

Lower Rate than My Own Bank

Got a lower interest rate than my bank was offering.Smooth digital verification and quick disbursal.

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Pre-approved offers with quick approval

I liked how Paisabazaar showed pre-approved offers without affecting my credit score. Customer support was prompt and helped me close the loan quickly.

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Same day approval. wow.

The loan was approved the same day — super smooth and transparent process.

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Paisabazaar helped me compare multiple loan offers in minutes, and I got the best rate without any paperwork.

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Itna Badhiya Rate and Service Hai!

Apke yaha itna acha interest rate mil gya market mei sabse kum and service toh aur bhi achi h. thank you.

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Mohit SinghDec 2, 2025

Best Interest Rate Offer

Got the best interest rate on your website. Best assistance and seamless experience.

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Best Marketplace to Shop for Loans

Your website is the best to apply for a personal loan. Got my loan disbursed within 3 days. So easy and hassle-free.

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Nikita SharmaDec 2, 2025

Fast loan approval

I got my loan approved within 24 hours. The process was fast, transparent, and reliable, exactly what I was looking for.

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