High Loan Amount
Get an instant Personal Loan of up to Rs 2 Lakh online based on income, credit score, and eligibility.
Rs 2 Lakh Personal Loan
Instant Approval in 10 Minutes
Tenure up to 36 months
Minimum Income Required Rs 15K
2 Lakh Loan EMI Calculator
Get a Rs 2 Lakh Personal Loan Instantly
Get a Personal Loan of up to Rs 2 Lakh instantly with minimal hassle. With a minimum salary requirement of just Rs 15,000 per month, you can easily qualify for quick funds to meet your financial needs. Enjoy flexible repayment options with a tenure of up to 36 months, ensuring manageable EMIs. The interest rate starts at 19% per annum, making borrowing convenient. Whether it's medical emergencies, home renovations, or travel plans, get the funds you need instantly with a hassle-free online application process. Apply now and secure your loan today!
Why Opt for a Personal Loan of Rs 2 Lakh?
A 2 Lakh Personal Loan can 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 1.58% per month, 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 Lakh loan. It can help you choose an affordable Personal Loan EMI for 2 Lakh loan.
EMI for a Personal Loan of Rs 2 Lakh for up to 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 a 2 Lakh loan can help you choose a suitable repayment tenure with pocket-friendly EMIs. Assuming you get a loan at 19% p.a. interest rate, these will be your EMI amounts for different loan terms:
| Loan Amount | Tenure (in Months) | Interest Rate (per annum) | Monthly EMI | Total Interest | Total Amount Payable |
|---|---|---|---|---|---|
| Rs 2,00,000 | 12 | 19% | Rs 18,431 | Rs 21,172 | Rs 2,21,172 |
| Rs 2,00,000 | 18 | 19% | Rs 12,857 | Rs 31,426 | Rs 2,31,426 |
| Rs 2,00,000 | 24 | 19% | Rs 10,082 | Rs 41,968 | Rs 2,41,968 |
| Rs 2,00,000 | 30 | 19% | Rs 8,427 | Rs 52,810 | Rs 2,52,810 |
| Rs 2,00,000 | 36 | 19% | Rs 7,331 | Rs 63,916 | Rs 2,63,916 |
Disclaimer: EMI amounts shown are estimates; actual figures may vary based on lender terms.
Features and Benefits of a Personal Loan of Rs 2 Lakh
Hero FinCorp is a reputable instant 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:
Attractive Interest Rate
Get the best interest rate on a Rs 2 Lakh loan at Hero FinCorp, starting from 19% per annum.
Collateral-Free
Get a Rs 2 Lakh instant Personal Loan without collateral, security, or a guarantor.
Flexible Repayment Tenure
Hero FinCorp offers flexible repayment tenures for up to 36 months on Personal Loans.
Instant Approval
Our fast online process with zero paperwork ensures quick verification, approval, and instant loan disbursal.
Eligibility Criteria for a Personal Loan of Rs 2 Lakh
Before applying for a Personal Loan, make sure you meet the eligibility criteria. At Hero FinCorp, the personal Loan eligibility is simple for both salaried and self-employed applicants.
Age
To get a Rs 2 Lakh loan from Hero FinCorp, you should be 21-58 years old.
Citizenship
Only resident Indian citizens can get a loan up to Rs 2 Lakh from Hero FinCorp.
Work Experience
The Minimum work experience for salaried employees is 6 months, and 2 years for self-employed.
Monthly Income
Minimum income requirements of Rs 15,000 per month.
Documents Required for a Personal Loan of Rs 2 Lakh
You don't need to visit our branch office to apply for a Rs 2 Lakh Personal Loan at Hero FinCorp. Since the documents required for personal loan vary for salaried and self-employed individuals, here is an overview:
Documents for Required Salaried
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One)
Ownership Proof
Residence Ownership Proof (Electricity Bill, Maintenance Bill, Property Document)
Income Proof
Last 6 Months Salary Slips, Bank Statements, and Form 16
Documents Required for Self-Employed
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One), Office Address Proof (if applicable)
Ownership Proof
Business Existence Proof (Tax Registration, Shop Establishment Proof, Company Registration Certificate)
Income Proof
Last 6 Months' Bank Statements and ITR for 2 Years
Personal Loan Interest Rates for Rs 2 Lakh Loan
Hero FinCorp provides Rs 2 Lakh loans with the best personal loan interest rates. Our interest rates are highly competitive. However, before applying, you should be aware of other fees and charges to determine the total cost of your loan. Here is an overview.
| Loan Details | Charges/Details |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Our online loan app does not charge any cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are also non-refundable |
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum Processing fee is 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
How to Apply for a Personal Loan of Rs 2 Lakh?
Follow these simple steps to get a 2 Lakh loan online from Hero FinCorp:
- 1
Visit the Hero FinCorp website or install the personal loan app
- 2
Go to the personal loan page and click ‘apply now’
- 3
Enter your mobile number and verify with the OTP received
- 4
Choose the loan amount you need
- 5
Verify your KYC details to check income eligibility
- 6
Click ‘Submit’ to complete your application
Uses of Personal Loan of Rs 2 Lakh
A Personal Loan of Rs 2 Lakh can be used for various financial needs. Here are some common uses:
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Frequently Asked Questions
The monthly EMIs for a Rs 2 Lakh loan will vary depending on your interest rate and repayment tenure. You can use a Personal Loan EMI Calculator online.
Yes, Hero FinCorp Personal Loans are without guarantees or collateral. Therefore, you will not need to pledge any collateral or give any guarantor or security for the loan application or loan amount.
You can apply on the Hero FinCorp website or the loan app from the comfort of your home. You will need to provide KYC and income documentation. Once applied, you will receive approval for the loan within 10 minutes.
A minimum income of Rs 15,000 per month is required if you are applying with Hero FinCorp. The income criteria are the same in the case of a self-employed applicant.
Yes, you can get the loan without a salary slip. Lenders also accept bank statements, Form 16 or ITRs.
A CIBIL score is very important, but you may get a Personal Loan if you have a steady job, reliable income, low DTI ratio, and considerable work experience.
Hero FinCorp accepts online applications, so the need for physical documents may not be necessary; however, they still require KYC details and proof of income.
If Rs 2 Lakh is borrowed at 19% annual interest for a period of 3 years, the EMI would be approximately Rs 7,331. You can also use an EMI calculator to calculate it instantly online.
It is unlikely that you would be able to get a loan without income proof. In such a case, you can use other proofs of income, such as income tax returns (ITR), bank statements, and Form 16 as income proof.
It is possible, but it may be difficult. Some lenders may approve your loan application if you are willing to accept a higher interest due to the low CIBIL score, or with strict terms, and/or with additional documents or a guarantor.
The Hero FinCorp app can provide instant Personal Loans of Rs 2 Lakh with less paperwork based on eligibility.
Yes, you can get instant approval for Rs 2 Lakh Personal Loan from the Hero FinCorp loan app if the necessary eligibility criteria are met.
Disclaimer
*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
*EMI Payment: Refer to our T&Cs here*
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.