Rs 2 Lakh Personal Loan: Your Instant Solution for Various Needs.
Bridge your immediate cash-flow requirements with an instant 2 lakh personal loan. One solution for multiple needs – medical emergency, home renovation, travel, or any unforeseen expense. Get approval in 10 minutes, no guarantor, zero collateral.
Get a Rs 2 Lakh Personal Loan Online.
A Rs 2 Lakh personal loan is a smart solution for your urgent fund needs – be it home repairs, medical bills, education, travel, or a wedding. You need no collateral or guarantor.
All you must do is apply online. The approval takes just 10 minutes. Once approved, the 2 lakh loan is credited to your bank account on the same day.
Hero FinCorp, an RBI-registered Indian NBFC, offers this loan for self-employed individuals and salaried professionals. Borrowers across India, from metros to Tier-2 towns, avail this loan by applying entirely online, without visiting any branch.
Take the first step. Calculate EMI for 2 lakh personal loan online using the Personal Loan EMI Calculator. Enter loan amount, tenure, and rate. Know your repayment and then apply online.
Calculate Personal Loan EMI
Why Choose Hero FinCorp for a Rs 2 Lakh Personal Loan?
Hero FinCorp is a leading NBFC backed by the Hero Group, offering convenient financial solutions for your needs. As one of the top lenders for 2 lakh personal loans online, Hero FinCorp enables instant approval, same-day disbursal, stress-free repayment, and no end-use restrictions. The interest rate starts from 18% per annum. It is the typical starting rate for personal loans by NBFCs in India.
Here are the top features of 2 lakh personal loan options by Hero FinCorp:
- No Collateral or Guarantor Required: It is a fully unsecured 2 lakh loan. You need zero collateral and no guarantor to apply for it.
- End-to-End Digital Journey: The streamlined digital process eliminates the need for physical paperwork and branch visits. From application to disbursal, everything happens online and hassle-free.
- Flexible Repayment Tenure: Payback tenure options range from 12 to 36 months. Choose a tenure that makes your loan repayment easy to manage.
- Transparent Fee Structure: Complete pricing transparency means no worries about hidden fees. All charges are disclosed upfront, including processing fees, foreclosure charges, and bounce penalties.
- Pan-India Availability: Apply for the loan online from anywhere in India, whether you are in a metro city or a Tier-2 town.
Step-by-Step Guide on How to Apply for a Rs 2 Lakh Personal Loan.
With Hero FinCorp, you need to follow a simple process to apply for the best 2 lakh personal loan without collateral. You can apply through the website or the personal loan app.
Here are the steps to apply for a 2 lakh personal loan via the website:
Navigate to the Personal Loan section. Click ‘Apply Now’.
Enter your registered mobile number. Confirm the OTP you receive.
Choose Rs 2 Lakh as the amount. Pick your tenure.
Share your PAN and Aadhaar number for e-KYC verification.
Review and click on Submit. Approval takes just 10 minutes.
Once approved, the amount gets credited to your bank account.
Find Out
If You Are Eligible.
Hero FinCorp keeps the 2 lakh personal loan eligibility criteria straightforward. For a successful loan application, you must meet the following requirements:
| Parameter | Requirement |
|---|---|
| Age | 21 years to 58 years |
| Citizenship | Resident Indian citizen |
| Employment | Salaried Individuals (Minimum 6 months in current employment) Self-Employed Individuals (Minimum 2 years of stable operations) |
| Monthly Income | Minimum Rs 15,000 per month |
| Credit Score | 725+ preferred for faster approval; applicants with lower scores will be considered case-by-case |
Trusted by Millions of Users.
20 Mn+
Happy Customers
Loan Disbursed
Every 30 Seconds
1 Mn+
App Installs
Pan India
Locations Served
Rs 2 Lakh Personal Loan Interest Rates & Charges.
Transparency in rates and charges lays the foundation for responsible lending. In India, the interest rate offered by top NBFCs for 2 lakh personal loan starts from 18%. Hero FinCorp offers the same starting rate for personal loans. However, the actual rate offered depends on the borrower’s monthly income, credit score, DTI ratio, and employment stability.
The table below offers an overview of all applicable charges for a Rs 2 Lakh Personal Loan from Hero FinCorp:
| Fee/ Charge | Details |
|---|---|
| Interest Rate | Starting from 18% per annum |
| Processing Fee | Minimum 2.5% of the loan amount + GST |
| Prepayment Charges | Not applicable |
| Foreclosure Charges | 5% of the outstanding principal + GST |
| EMI Bounce Charges | Rs 350 per instance |
| Loan Cancellation | No cancellation charges via the loan app; processing fee and interest paid are non-refundable |
Note: The above charges are indicative and effective as of the latest schedule. Always confirm the current schedule of charges before applying.
Rs 2 Lakh Personal Loan EMI: Tenure-Wise Breakdown.
Choosing the right tenure can help you to align your EMI with your monthly budget and plan your repayment. The table below shows the indicative EMI on Rs 2 lakh at 18% p.a. across different tenures:
| Loan Amount (Rs) | Tenure (Months) | Interest Rate (p.a.) | Monthly EMI (Rs) | Total Interest (Rs) | Total Amount Payable (Rs) |
|---|---|---|---|---|---|
| 2,00,000 | 12 | 18% | 18,336 | 20,032 | 2,20,032 |
| 2,00,000 | 18 | 18% | 12,761 | 29,701 | 2,29,701 |
| 2,00,000 | 24 | 18% | 9,985 | 39,636 | 2,39,636 |
| 2,00,000 | 30 | 18% | 8,328 | 49,835 | 2,49,835 |
| 2,00,000 | 36 | 18% | 7,230 | 60,297 | 2,60,297 |
Disclaimer: The EMI figures above are approximate and calculated using the standard reducing-balance method. Actual EMI may differ based on the interest rate offered to you. Use the Personal Loan EMI Calculator on the website for a precise estimate.
Common Uses of a Rs 2 Lakh Personal Loan.
A 2 lakh personal loan offers you the freedom to meet various financial obligations. The absence of end-use restrictions means you can use the fund for any purpose. Here are some practical uses:
- Medical Emergency
- Home Repair
- Higher Education
- Wedding and Celebrations
- Travel and Holidays
- Emergency Fund
What Our Customers Say?
Our customers have rated us
Savi Gupta - Bangalore
Rashi Kohli - New Delhi
Lalji Soni - Chennai
The Latest Blogs.
Frequently Asked Questions.
If you have no CIBIL score, for instance, you are a first-time borrower, you can still avail a 2 lakh loan. Lenders can approve your loan based on other factors, such as employment tenure, income stability, and DTI ratio.
The starting rate for a 2 lakh personal loan by top Indian NBFCs like Hero FinCorp is 18%. However, the rate you actually receive will depend on your borrower profile.
The approximate EMI for a 2 lakh loan over a 24-month tenure at 18% p.a. is Rs 9,985. While the total interest is about Rs 39,636, the total payable amount is Rs 2,39,636.
The Hero FinCorp Personal Loan app on Google Play enables you to apply for an instant personal loan up to 2 lakhs. Approval takes only 10 minutes, followed by prompt disbursal.
The 2 lakh instant loan application process at Hero FinCorp is designed for speed. Once you submit your application, you can receive approval in just 10 minutes. Disbursement is often made on the same day.
Yes. Lenders also accept Form 16, bank statements (for the last 3–6 months), or Income Tax Returns as proof of income for a 2 lakh loan.
At 18% p.a., the EMI for a 2 lakh loan over 36 months is approximately Rs 7,230. You can use the Personal Loan EMI Calculator on the Hero FinCorp website to calculate the exact amount.
Hero FinCorp follows a largely paperless process for personal loans. You need to provide digital consent and share your PAN and Aadhaar details for e-KYC. Income is verified electronically, without any need for physical documents.