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Rs.20 Lakh Personal loan at 10.49% p.a

Need a ₹20 Lakh personal loan? Get it at 10.49% p.a. with 1-day Disbursement* Quick and easy process to meet your financial needs.

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Fincover® > Banking > Loan > personal loan > Rs.20 lakh Personal Loan

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Key Takeaways ✦

Personal Loan of Rs.20 Lakhs

Achieving your financial aspirations is now within reach with hassle-free Personal Loan of ₹20 Lakhs. Whether you’re looking to consolidate your debts, fund your dream vacation, or renovate your home, there are multiple personal loan solutions available that are designed to meet your specific needs. Enjoy competitive interest rates, flexible repayment options, and a seamless application process.

Key Features of Personal Loan of Rs. 20 Lakhs

Loan Amount: Borrow up to 20 Lakhs depending on your eligibility and financial profile.
Competitive Interest Rates: Enjoy attractive interest rates that are affordable and convenient for repayment.
Flexible Repayment Terms: Repay your loan comfortably with flexible tenure options ranging from 1 to 7 years.
Quick Approval: Experience fast loan processing and approval to fulfill your immediate financial requirements.
Minimal Documentation: Benefit from a simplified documentation process, making the loan application hassle-free.
No Collateral Required: Avail a Personal Loan without any collateral or security, making it accessible to a wide range of individuals.
Quick Disbursement: Once approved, the loan amount will be disbursed to your account swiftly, ensuring you have the funds when you need them

Bank Interest rates for 20 Lakh Personal Loan

Banks

Personal Loan Interest Rates 2025

Institution	Interest Rates
HDFC Bank	10.85% – 24.00%
Axis Bank	11% – 24.00%
Bandhan Bank	11.90% Onwards
ICICI Bank	10.85% – 16.25%
DBS Bank	10.99% – 24.00%
Bank of Baroda	11.05% – 18.75%
SBI	11.45% – 14.85%
IndusInd Bank	10.49% – 24.00%
Yes Bank	11.25% – 21.00%
Standard Chartered	11.50% – 24.00%
IDFC First	10.99% – 23.99%
Kotak Mahindra Bank	10.99% – 24.00%
PNB	11.40% – 17.95%
Indian Bank	10.90% – 24.00%

NBFCs Interest rates for 20 Lakh Personal Loan

NBFCs

NBFC Name	Interest Rate
InCred	16% – 42%
Finnable	16% – 28%
L&T Finance	11% – 24%
Aditya Birla	10% – 32%
Shriram Finance	11% – 42%
Bajaj Finserv	10.75% – 31%
Piramal Finance	12.99% onwards
Tata Capital	11.99% – 35%
Poonawalla	11.49% – 19%
SMFG	13% – 36%
Axis Finance	13% onwards
Mahindra Finance	12% – 36%
Paysense	16.8% – 33%
Dhani	13.99% onwards
CASHe	2.79% – 33.5%

Rs.20 Lakh Personal Loan EMI for up to 5 Years

Loan Amount: Rs.20 Lakh

ROI: 10.5%

Tenure	EMI amount at Interest rate of 10.5%
1 year	Rs. 1,76,297
2 years	Rs. 92,752
3 years	Rs. 65,005
4 years	Rs. 51,207
5 years	Rs. 42,988
6 years	Rs. 37,558
7 years	Rs. 33,721

Why Choose Fincover for applying for Personal loan of 20 Lakhs?

Wide Network of Lenders: Our site has tied up with India’s leading lenders offering personal loans up to 20 lakhs. You can compare multiple loan options conveniently without visiting multiple banks or websites.
Competitive Interest Rates: By comparing interest rates of various financial institutions, you increase your chances of securing the best deal on a 20 lakh personal loan.
Easy Online Application: Applying for a personal loan of 20 lakhs has never been simpler. Our user-friendly website allows you to complete the entire application process online, saving you time and effort.
Quick Approval and Disbursal: We understand that time is of the essence when you’re in need of funds. Our streamlined processes ensure fast approval and disbursal of your loan, helping you meet your financial requirements promptly.
Convenient Eligibility Criteria: Our site provides personal loan options with flexible eligibility requirements. Even if you have a moderate credit score or limited credit history, you may still be eligible for a 20 lakh personal loan through our platform.

Eligibility Criteria for Personal Loan of 20 Lakhs

Eligibility Criteria	Details
Age	Typically 21 to 60 years
Income	Minimum monthly income as per lender’s requirement
Employment Status	Salaried, self-employed, or business owner
Credit Score	Generally 750 or above
Residence	Must be a resident of the country
Job Stability	Minimum of 1-2 years with current employer
Existing Debt	Lenders may evaluate your existing debt obligations
Loan Tenure	Usually 1 to 5 years
Documentation	Proof of identity, address, income, and bank statements required

Documents Required for Personal Loan of 20 Lakhs

To avail Personal Loan for 20 Lakhs, the following documents are generally required,

Document Type	Details
Identity Proof	Aadhar Card, Passport, Voter ID, or Driver’s License
Address Proof	Utility Bill, Rental Agreement, Passport, or Aadhar Card
Income Proof	Salary Slip (last 3-6 months), Income Tax Returns, or Bank Statements
Employment Proof	Employment Certificate, Offer Letter, or Appointment Letter
Bank Statements	Last 6 months’ bank statements
Photographs	Passport-sized photos (usually 2-3)
Proof of Existing Loans	If applicable, details of existing loans or credit card statements
Application Form	Completed loan application form provided by the lender

Apply for a personal loan of 20 lakhs with zero hassles

Take control of your finances and achieve your dreams with our Personal Loan of ₹20 Lakhs. Apply online today and get closer to your financial aspirations.

Apply now

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