₹ 2 Lakh Personal Loan.
Get a ₹2 Lakh Instant Personal Loan Online.
A ₹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 for a personal loan online. The approval takes just 10 minutes. Once approved, the 2 lakh loan can reach your bank account the same day for eligible borrowers.
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 loans online using the Personal Loan EMI Calculator. Enter loan amount, tenure, and rate. Know your repayment and then apply online.
Calculate Your ₹2 Lakh Personal Loan EMI
₹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 ₹2 lakh at 17.9% p.a. across different tenures:
| Loan Amount (₹) | Tenure (Months) | Interest Rate (p.a.) | Monthly EMI (₹) | Total Interest (₹) | Total Amount Payable (₹) |
|---|---|---|---|---|---|
| 2,00,000 | 12 | 17.9% | 18,326 | 19,918 | 2,19,918 |
| 2,00,000 | 18 | 17.9% | 12,752 | 29,529 | 2,29,529 |
| 2,00,000 | 24 | 17.9% | 9,975 | 39,404 | 2,39,404 |
| 2,00,000 | 30 | 17.9% | 8,318 | 49,540 | 2,49,540 |
| 2,00,000 | 36 | 17.9% | 7,220 | 59,936 | 2,59,936 |
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.
Why Choose Hero FinCorp for a ₹2 Lakh Personal Loan?
Hero FinCorp is an RBI-registered NBFC backed by the Hero Group, offering convenient financial solutions for your needs. Hero FinCorp enables approval in as little as 10 minutes, same-day disbursal for eligible borrowers, stress-free repayment, and no end-use restrictions. The interest rate starts from 17.9% per annum. Here are the top features of two lakh personal loan options by Hero FinCorp:
- No Collateral or Guarantor Required: It is a fully unsecured 2,00,000 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.
Find Out
If You Are Eligible.
| Eligibility Criteria | Details |
|---|---|
| Age | 21 to 58 years |
| Employment Type | Salaried or Self-Employed |
| Monthly Income | Minimum ₹15,000 per month |
| CIBIL Score | 725+ preferred |
| Residence Stability | Minimum 1 year at current address |
| Existing Loans | No Restriction |
How to Apply for a ₹2 Lakh Personal Loan.
With Hero FinCorp, you need to follow a simple process to apply for a 2,00,000 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 ₹2 Lakh as the amount. Pick your tenure. Share your PAN and Aadhaar number for e-KYC and give digital consent for your income check.
Review your offer, click Submit and e-sign your loan agreement. Approval takes just 10 minutes, and eligible borrowers may get the money in their bank account the same day. The full journey from application to disbursal is built to take 24 to 48 hours.
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₹2 Lakh Personal Loan Interest Rates & Charges.
Transparency in rates and charges lays the foundation for responsible lending. Hero FinCorp personal loan rates start from 17.9% per annum. 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 ₹2 Lakh Personal Loan from Hero FinCorp:
| Charge Type | Details |
|---|---|
| Interest Rate | Starting from 17.9% p.a. |
| Processing Fee | Minimum 2.5% + applicable GST |
| Prepayment Charges | Not applicable |
| Foreclosure Charges | Up to 5% + GST on outstanding principal |
| EMI Bounce Charges | ₹350 per instance |
| Overdue Interest | 1%–2% per month on overdue amount |
| Loan Cancellation | No cancellation fee through the app; processing fee and interest, if applicable, may not be refundable |
Note: The above charges are indicative and effective as of the latest schedule. Always confirm the current schedule of charges before applying.
Common Uses of a ₹2 Lakh Personal Loan.
A two 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: Pay hospital bills, tests or treatment costs when you need money fast.
- Home Repair: Fund repairs, repainting or fixtures without using up your savings.
- Higher Education: Cover course fees, exam registrations or certification programmes.
- Wedding and Celebrations: Manage venue bookings, catering or outfits for a family occasion.
- Travel and Holidays: Book flights and stays, then repay the trip cost in monthly EMIs.
- Emergency Fund: Keep a cushion for unexpected costs when your savings fall short.
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Frequently Asked Questions.
If you have no CIBIL score, for instance, you are a first-time borrower, you can still avail a 2,00,000 loan. Lenders can approve your loan based on other factors, such as employment tenure, income stability, and DTI ratio.
Hero FinCorp, an RBI-registered NBFC, offers two lakh personal loans at rates starting from https://loans.apps.herofincorp.com/en/personal-loan p.a. 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 https://loans.apps.herofincorp.com/en/personal-loan p.a. is ₹9,975. While the total interest is about ₹39,404, the total payable amount is ₹2,39,404.
The Hero FinCorp Personal Loan app on Google Play enables you to apply for an instant personal loan from ₹50,000 up to ₹7 lakh, including two lakh. 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. At Hero FinCorp you do not need to upload salary slips. Your income is checked digitally, with your consent, using bank account data.
At https://loans.apps.herofincorp.com/en/personal-loan p.a., the EMI for a 2 lakh loan over 36 months is approximately ₹7,220. 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.