Do you need a 2 lakh loan urgently? Do you need money for your child's education, a dream vacation, or a medical emergency?
Piramal Finance offers a loan of 2 lakh to eligible applicants. The loan comes with low-interest rates. This loan can make life easier for you and your family.
How to get an Instant 2 lakh Personal Loan on the same day?
You can get an instant 2,00,000 loan on the same day at Piramal Finance with a few simple steps.
Step 1: Click on Apply Now and start your 2,00,000 Personal Loan application
Step 2: Enter your mobile number linked to your bank account.
Step 3: Enter the OTP received on your mobile number.
Step 4: Enter the required document and verify the same.
Step 5: Bank account verification.
Step 6: Income Verification.
Step 7: Check the Loan Final Offer, Accept, and continue the final process.
You will receive the 2 lakh instant loan in your verified bank account after 24 hours.
Features & Benefits of a 2 Lakh Personal Loan
Competitive Interest Rates
The interest rate is one of the main factors to consider when selecting your personal Loan EMI. Therefore, we offer competitive interest rates that benefit our loan applicants who get affordable EMI amounts during their tenure. Get your Rs. 2 lakh personal loan now with interest rates starting at 12.99% p.a.
Collateral-Free Loan
We understand your situation and the need for a personal loan. Therefore, we do not ask you for collateral during the loan application process. However, we need details and proof of your ID, address, and income.
Paperless Loan Application
Applying for a personal loan for 2 lakh is now easy with Piramal Finance's paperless loan application process. We offer applicants a 100% digital experience where they can fulfill their financial needs from the comfort of their homes. A simple, hassle-free process ensures an easy and smooth loan journey.
Flexible Repayment Option
Piramal Finance offers repayment options that suit your needs. The shorter the loan tenure, the higher the EMI, and vice versa. Your loan tenure can range from 3 months to 60 months, depending on your preference.
Instant Disbursal
Get your 2 lakh loan amount disbursed instantly. Once you complete the application and submit all documents, we begin our verification process immediately. We take a few minutes to an hour to complete the verification. If all goes well, we will approve the loan application and disburse the amount in your account within 24 hours.
EMI Calculation
This table shows the EMI calculator for a ₹2 Lakh personal loan. It includes options for 5, 4, 3, 2, and 1 year loan terms, with a 12.99% interest rate.
EMI Calculation
This table shows the EMI calculator for a ₹2 Lakh personal loan. It includes options for 5, 4, 3, 2, and 1 year loan terms, with a 12.99% interest rate.
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Labels:
- Year
- Principal Amount
- Interest Payable
- Total Amount
- Monthly EMI
- Outstanding Balance
-
Row 1:
- 1
- ₹ 32,755
- ₹ 21,853
- ₹ 54,608
- ₹ 4,551
- ₹ 167,245
-
Row 2:
- 2
- ₹ 37,276
- ₹ 17,332
- ₹ 54,608
- ₹ 4,551
- ₹ 129,969
-
Row 3:
- 3
- ₹ 39,272
- ₹ 15,336
- ₹ 54,608
- ₹ 4,551
- ₹ 90,697
-
Row 4:
- 4
- ₹ 42,420
- ₹ 5,188
- ₹ 54,608
- ₹ 4,551
- ₹ 48,277
-
Row 5:
- 5
- ₹ 48,277
- ₹ 6,331
- ₹ 54,608
- ₹ 4,551
- ₹ 0
Factors Responsible for ₹2 Lakh Personal Loan Interest Rate
Piramal Finance offers a Rs. 2 lakh personal loan with attractive interest rates starting at 12.99% p.a. We base the interest rates on age, employment status, and credit score.
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Age:
- To qualify for a personal loan of 2 lakhs, you must be between the ages of 21 and 58. We often consider younger applicants more creditworthy to repay a loan and offer them lower interest rates. People between 50 and 60 may receive a higher interest rate due to the risk of defaulting on a personal loan.
-
Employment Status:
- You must have a steady income to be eligible for a Rs. 2,00,000 personal loan. Government, private, and PSU employees receive loans quickly with lower interest rates because their employers pay their salaries on time. This reduces the risk of being unable to repay the loan.
-
Credit Score:
- Another important factor that helps decide your interest rate is your credit score. If you have a high credit score, we consider you more creditworthy. This could result in a lower interest rate, especially if you have a CIBIL score of 650 or above.
However, we at Piramal Finance offer applicants loans with competitive interest rates even if they have low credit scores.
- Another important factor that helps decide your interest rate is your credit score. If you have a high credit score, we consider you more creditworthy. This could result in a lower interest rate, especially if you have a CIBIL score of 650 or above.
Documents Required for Availing of a 2 Lakh Personal Loan
Need a 2 Lakh Loan Urgently? Below are some digital documents you must submit as part of the loan process.
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Labels:
- Document Type
- For Self-Employed Individuals
- For Salaried Individuals
-
Row 1:
- ID Proof
- Aadhaar card, driving license, passport, pan card, voter id
- Aadhaar card, driving license, passport, pan card, voter id
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Row 2:
- Residence Address Proof
- Aadhar card, voter id, utility bills, driving license
- Aadhar card, voter id, utility bills, driving license
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Row 3:
- Office Address Proof
- GST registration certificate
- Not applicable
-
Row 4:
- Income Proof
- P/L account and balance sheet for the previous three years, ITRs for the last three years, bank account statement of business account
- Bank account statement of salary account, salary slip of the last three months, form 16
Documents Required for Availing of a 2 Lakh Personal Loan
Need a 2 Lakh Loan Urgently? Below are some digital documents you must submit as part of the loan process.
Fees and Charges for Personal Loan of ₹2 Lakh
Get a personal loan of INR 2 lakh at competitive interest rates. Below is a table of our fees and charges.
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Labels:
- Features & Fees
- Details
-
Row 1:
- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards
-
Row 2:
- Loan Amount
- ₹ 25,000 to ₹ 5,00,000
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Row 3:
- Processing Fees
- Up to 5% plus applicable taxes
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Row 4:
- Loan Tenure
- 3 - 60 months tenure
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Row 5:
- Prepayment Charges
- ₹ 0
-
Row 6:
- Foreclosure Charges
- ₹ 0
-
Row 7:
- Stamp Duty
- At actuals (as per state)
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Row 8:
- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 9:
- EMI Bounce Charges
- ₹ 500 plus applicable taxes
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Row 10:
- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
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Row 11:
- Cash Collection Charges
- 1% of collection amount of ₹ 50,000 and above in cash + taxes
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Row 12:
- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
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Row 13:
- Loan Cancellation after Disbursement
- Interest accrued & due plus applicable taxes
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Row 14:
- Loan Repayment Schedule (applicable for physical copies only)
- ₹ 500 plus applicable taxes
-
Row 15:
- Change of Loan Repayment Mode
- ₹ 1,000 plus applicable taxes
Fees and Charges for Personal Loan of ₹2 Lakh
Get a personal loan of INR 2 lakh at competitive interest rates. Below is a table of our fees and charges.
Different Types of Personal Loans
Home Improvement Loan
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Travel Loan
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Emergency Loan
Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
Loan for Women
Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.
Loan for Salaried Employees
Unlock financial flexibility with a personal loan designed exclusively for salaried employees. Get the loan quickly and conveniently.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
Personal Loan for Bike
Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.
Get a Personal Loan from the Nearest Piramal Finance Branch
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Frequently asked questions
You must choose Piramal Finance for an INR 2 lakh personal loan for various reasons. Some of these include:
- 100% digital and paperless loan process
- Collateral-free loan application procedure
- Attractive and competitive interest rates
- Flexible loan repayment tenures
- Quick verification and approval
- Convenient, instant, same-day disbursal
- User-friendly, 24/7 customer support service.
With real-time KYC document verification, you can quickly get a Rs. 2,00,000 personal loan using your Aadhar card. Linking your PAN and Aadhar cards to your mobile number simplifies verification, enabling smooth communication and speeding up loan disbursal.