How to Apply for a Rs.2 Lakh Personal Loan Online

Step 1: Gather Required Documents

• Identification Proofs: Passport, Driving Licence, Voter ID, PAN Card, Aadhaar Card (any one).

• Address Proofs: Leave and License Agreement, Utility Bill (not older than 3 months), Passport (any one).

• Income Statements: Latest 3 months bank statements (showing salary/income credits) and salary slips for the last 3 months (for salaried applicants); audited financials for the past two years and the latest 6 months bank statement (for self-employed individuals).

• Passport-Size Photographs: Two recent passport-size photos.

Step 2: Fill out the Application Form

Step 3: Check Approval Status

Document Requirements for a Rs.2 Lakh Personal Loan

• Proof of Identity: Passport, Driving Licence, Voter ID, PAN Card, Aadhaar Card (any one).

• Proof of Residence: Leave and License Agreement, Utility Bill (not older than 3 months), Passport (any one).

• Income Proof: Latest 3 months bank statements and salary slips for the last 3 months.

• KYC Documents: Proof of Identity (Aadhaar Card, PAN Card), address, and date of birth proof.

• Proof of Residence: Leave and License Agreement, Utility Bill (not older than 3 months), Passport (any one).

• Income Proof: Audited financials for the past two years and the latest 6 months bank statement.

• Other Documents: Office address proof, proof of residence or office ownership, proof of business continuity, and 2 passport-size photographs.

Interest Rates and Repayment Terms

Applying for a Rs.2 lakh personal loan online is straightforward with FinCrif. Follow these simple steps:

Before starting your application, ensure you have the necessary documents ready:

Provide your basic information and submit the application form online. Specify the loan amount and tenure using the Personal Loan EMI calculator to determine your Equated Monthly Installment (EMI).

After submission, track your application's approval status using the assigned application number and your mobile number.

For Salaried Applicants:

For Self-Employed Individuals:

Interest rates for personal loans range from 10.49% to 35% per annum, with repayment tenures spanning from 12 to 72 months. Use the personal loan EMI calculator to choose a repayment plan that suits your financial capacity best.

 

Advantages and Features of Rs.2 Lakh Personal Loans

• Versatile Use of Funds: Utilize funds for diverse financial needs without restrictions.

• Fast Approval: The streamlined online application process ensures quick approval.

• Flexible Repayment Options: Tailor your repayment period to match your financial situation.

• Minimal Documentation: Simplified application with essential document requirements.

• Stable Interest Rates: Enjoy consistent rates throughout the loan tenure.

• Collateral-Free: No need for collateral, making the borrowing process straightforward.

Uses for a Rs.2 Lakh Personal Loan

• Debt Consolidation: Combine debts for easier management and potentially lower interest costs.

• Business Ventures: Invest in business expansion or start-up initiatives.

• Real Estate Investment: Fund property down payments or real estate ventures.

• Education Financing: Support higher education expenses.

• Emergency Funds: Build a financial safety net for unexpected expenses.

• Events and Celebrations: Organize significant events without financial constraints.

• Vehicle Purchase: Fulfill your dream of owning a vehicle.

• Charitable Initiatives: Support non-profit organizations and social causes.

• Professional Development: Enhance career skills through courses and certifications.

• Commercial Renovation: Upgrade business premises for better customer appeal.

A Rs.2 lakh personal loan can serve various purposes:

Choosing a Rs.2 lakh personal loan through FinCrif offers a hassle-free solution tailored to your personal financial goals. Whether consolidating debts, funding education, or investing in business growth, this loan provides flexibility, competitive rates, and minimal documentation. Apply online today to take the first step toward achieving your financial aspirations.