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20 Lakh Personal Loan

Apply for a personal loan of Rs 20 lakh through paisabazaar. Check the interest rates and other offers by various lenders. Explore the pre-approved offers by our partner lenders and apply according to your requirements.
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Valid till 30th April '26 *T&C Apply
Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

4.5/5

15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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Digital Process

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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 Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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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

Apply Now

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

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

Apply Now

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
All Your Needs

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

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Shamik Ghosh

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