Mandatory Documents
Duly filled loan application form Passport-size photograph (coloured)
Apply for a ₹2 Lakh Personal Loan
- Loan up to ₹2 Lakhs
- Minimum Salary Required ₹15K
- Instant Approval
Personal Loan EMI Calculator
Apply for 2 Lakh Personal Loan
A 2 Lakh Personal Loan will be of great financial help if you need funds for a big-ticket expense or emergency like debt consolidation, medical treatment, home renovation, wedding, vacation, education, etc. Competitive interest rates starting at 19%, flexible repayment tenures of up to 36 months, and 100% digital loan processing are some of the major reasons you should opt for a 2 Lakh loan at Hero FinCorp. Choose a suitable repayment tenure using a Personal Loan EMI calculator for 2 Lakhs loan. It can help you choose an affordable Personal Loan EMI for 2 Lakh loan.
EMI for Personal Loan of Rs 2 Lakh for Tenures of 1-3 years
While looking for a 2 Lakh instant loan, you must be concerned about the monthly EMI amount to pay. Using an EMI calculator for 2 Lakh loan can help you choose suitable repayment tenure with pocket-friendly EMIs. Assuming you get a loan at a 19% interest rate, these will be your EMI amount for different loan terms:
Disclaimer: The EMI calculations provided are approximations, and actual figures may differ.
Documents Required For Rs. 2 Lakh Personal Loan
You don't need to visit our branch office to apply for a 2 Lakh loan at Hero FinCorp. Since we have different documentation requirements for salaried and self-employed individuals, here is an outlook:
Documents Required Salaried Employee
Identity Proof
Driver’s licence, passport, PAN card, or Aadhaar card
Address Proof
Driver’s licence, passport, Aadhaar card, ration card, or utility bill
Ownership Proof
Residence ownership proof, like electricity bills, maintenance bills, or property documents
Income Proof
Last six months' salary slips, the previous six months' salary account statement, and Form 16 Job continuity proof, like an appointment letter from the current employer or experience certificate from the previous employer
Documents Required Self-Employed Individual
Mandatory Documents
Duly filled loan application form Passport-size photograph (coloured)
Identity Proof
Driver’s licence, passport, PAN card, or Aadhaar card
Address Proof
Driver’s licence, passport, Aadhaar card, ration card, or utility bill Office address proof, like maintenance bills, utility bills, property documents, or rent agreement
Ownership Proof
Business existence proof, like a copy of tax registration, shop establishment proof, or company registration certificate
Income Proof
Last six months' bank statements and ITR for the previous two consecutive years
Eligibility Criteria For Rs 2 Lakh Personal Loan
Our eligibility conditions are simplistic, which you can fulfil quickly to obtain a Personal Loan of up to 2 Lakhs. These are the factors that determine your Personal Loan eligibility at Hero FinCorp.
Age
To qualify for a 2 Lakh Personal Loan at Hero FinCorp, you must be between the age bracket of 21 to 58 years.
Citizenship
You must be a resident Indian citizen to get a loan of up to 2 Lakh from Hero FinCorp.
Work Experience
Self-employed professionals must be working in their field for at least two years, and salaried employees must have a work experience of at least six months.
Monthly Salary
If you need 2 Lakhs urgently, you must have a minimum monthly salary of at least Rs 15,000 to qualify.
How to Apply for Rs 2 Lakh Personal Loan?
To know how to get a 2 Lakh loan at Hero FinCorp, follow these simple steps:
- 1
Click on the 'Apply Now' button.
- 2
Enter your mobile number and verify the OTP sent to the entered mobile number.
- 3
Choose the loan amount that you need.
- 4
Verify your KYC details data to check income eligibility.
- 5
Click on 'Submit' to complete your application.
Features and Benefits of Rs 2 Lakh Loan
Hero FinCorp is a reputable Personal Loan provider offering various lucrative features and benefits with a 2 Lakh loan for 3 years or less. Here are a few important ones you must know:
High Loan Amount:
As we provide instant loan amounts of up to Rs 5 lakh to cover most emergencies and big-ticket expenses, you can easily apply for 2 Lakh loan online. However, we will decide your loan eligibility based on your income, credit rating, DTI ratio, work experience, and other factors.
Attractive Interest Rate:
You will get the best rate of interest on 2 Lakh loan at Hero FinCorp, based on your credibility, repayment capacity, and the risk involved. Our Personal Loan interest rates start from 19%. So, you don't need to worry about hefty interest costs and EMI amounts that cause unnecessary financial burdens.
Collateral-Free:
While applying for an instant 2 Lakh loan, you don't need to provide any collateral, security, or guarantor for backup. Our Personal Loans are completely collateral-free, so you can obtain them without risking your assets.
Flexible Repayment Tenure:
Hero FinCorp offers flexible repayment tenures for up to 36 months on Personal Loans. Use our EMI calculator for 2 Lakh loan to make an informed decision based on your monthly budget, current financial obligations, income, and growth potential.
Instant Approval:
Our online application process, zero paperwork, no branch visits make the loan procedure extremely fast and efficient. As a result, we can verify details and approve loan applications quickly. Upon approval, you must accept the loan offer to get disbursal instantly.
Interest Rate on Rs 2 lakh Personal Loan
At Hero FinCorp, we provide Rs 2 Lakh loans with the best interest without physical documentation requirements. Our interest rates are highly competitive. However, before applying for one, you must know the other fees and charges to determine your total loan cost. Here is an overview.
2 lakh personal loan Related Blogs
Frequently Asked Questions (FAQs)
The monthly EMIs for a loan of 2 Lakh depends on your interest rate and repayment tenure. For instance, at 19% interest rate, your 2 Lakh loan for 1 years EMI would be Rs 18,431, while for 3 years, it would be Rs 7,331.
Yes, Personal Loans at Hero FinCorp are completely collateral-free. That means you don't need to pledge any collateral or provide any guarantor or security for the application.
Complete our online application process from the comfort of your home to get a 4 Lakh Personal Loan urgently. Simply fill out our online application form and provide the necessary details and documents for approval. Accept the loan offer to receive disbursal directly into your bank account.
Although the CIBIL score is an important parameter to determine your loan eligibility, you may still get a 2 Lakh Personal Loan if you have a stable job, regular income, low DTI ratio, and sufficient work experience.
You can obtain a 2 Lakh loan without documents by applying at Hero FinCorp. Our digital loan process does not demand any paperwork. You can scan and upload the minimal documents we require digitally.
Use our EMI calculator to calculate your EMIs for 2 Lakh loan for 3 years. The final EMI amount depends on your interest rate. For instance, if your interest rate is 19%, your 2 Lakh loan EMI for three years would be Rs 7,331 per month.
We need income proof to determine your eligibility and repayment capacity. However, your bank statements, ITR, and other financial records will suffice if you don't have income proof.
Our EMI calculator can help you calculate your 2 Lakh loan EMIs based on this mathematical formula:
EMI = [P x R x (1+R)^N] / [((1+R)^N)-1)]
P = Principal amount, r = interest rate, n = number of months in term
Enter these variables and select a loan term in the calculator to instantly calculate your 2 Lakh Personal Loan EMI.