₹20 Lakh Personal Loan

You can get a ₹20 Lakh personal loan on Bajaj Markets with no restrictions on its end-use. This can help you tackle emergencies or fulfil your aspirations quite easily. You can get ₹20 Lakh personal loan at low interest rates starting from 10.99% p.a. Also, you can choose a repayment tenure of up to 96 months and repay the loan comfortably at your convenience. The smooth application process and quick disbursal further enhance your borrowing experience.

On Bajaj Markets, compare the interest rates and loan offers from multiple lenders to make an informed decision. Some financial institutions that provide a ₹20 Lakh personal loan are as follows:

*Disclaimer: The rates are subject to change at the lender’s discretion.

Choosing the right tenure is critical to manage your budget and manage your loan repayment. The repayment period has a major impact on not just the EMIs, but also the total repayment costs. Let’s take a look at the following example to understand how.

Assume that you took a ₹20 Lakh loan at an interest rate of 10.99% p.a. Here’s how the tenure will affect the loan EMIs:

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

As visible in the above example, as the loan tenure increases, so does the interest charge.  This leads to an overall surge in the total repayment cost of the loan. However, the instalment amount was considerably reduced. So, compare the various tenure options to identify the repayment period that suits your needs and preferences.

If you want to get a personal loan of ₹20 Lakhs, you must satisfy the following conditions:

• Nationality: Indian 

• Employment type: Salaried, self-employed professional, or self-employed non-professional

• Age: 18 years or more

• Minimum monthly income: ₹15,000

• Minimum work experience: 2-3 years 

• Credit score: 750 or more

Additionally, you need to furnish the following documents when applying for a personal loan:

• Identity Proof: Any one of the following documents

  • PAN card

  • Aadhaar card 

  • Passport

  • Voter ID

  • Driving licence
    

• Residential Proof: Any one of the following documents

  • Voter ID

  • Aadhaar card

  • Passport

  • Driving licence

  • Electricity bill

  • Telephone bill
    

• Income Proof: 

  • Bank statement

  • Salary slips of the previous 3 months

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.