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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
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61,600+
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2,00,000+
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INR 5.53 Lakh Cr
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Personal Loan of ₹2 Lakhs
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
What is a ₹2 Lakh Personal Loan?
A ₹2 lakh Personal Loan is a type of unsecured loan designed to provide quick access to funds for various financial needs, such as medical emergencies, home renovation, travel, education, or debt consolidation. With minimal documentation and hassle-free approval, this loan ensures that borrowers can meet their immediate financial requirements without pledging any collateral. Aditya Birla Capital offers competitive interest rates and flexible repayment options, making the borrowing process smooth and convenient.
Features of a ₹2 Lakh Personal Loan
Collateral-free Loan
No need to pledge assets; loan approval is based on eligibility.
Flexible Repayment Options
Choose a tenure that suits your financial situation.
Quick Sanction & Disbursal
Get funds quickly to meet urgent financial needs.
Competitive Interest Rates
Enjoy attractive rates that make repayments affordable.
Facility to Add a Co-Applicant
Improve loan eligibility by adding a spouse or family member as a co-applicant.
Reasons To Get a Personal Loan of ₹2 Lakh from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure a Personal Loan of ₹2 Lakhs. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of 84 months to ensure affordable EMIs for easy repayments. This makes the ₹2 Lakhs Personal Loan pocket-friendly.
Predictable EMIs
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments.
Quick Sanctions
Get the funds transferred to your account within 24 hours of applying for the loan.
Facility to add a co-applicant
Adding a co-applicant to the ₹2 Lakhs Personal Loan can increase your eligibility. You can also get a higher loan amount to meet different needs.
Interest Rates Available for
Personal Loans of ₹2 Lakh
Find out the interest payable on the Personal Loan of ₹2 Lakhs to plan your repayments effectively.
Loans up to 12 months| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
Who Can Apply For a Personal Loan of ₹2 Lakh?
Find out if you are eligible to apply for a ₹2 Lakhs Personal Loan
Salaried
Self-employed Professional
Self-employed Non - Professional
How to Apply for a ₹2 Lakh Personal Loan
Assess Your Financial Needs
Determine how much funding is required.
Check Your Loan Eligibility
Use an eligibility calculator to estimate approval chances.
Compare Loan Offers
Check interest rates, tenure, and terms before applying.
Submit Required Documents
Upload necessary KYC and income proof online.
Loan Approval & Disbursement
Once approved, funds are disbursed quickly to your account.
Eligibility Criteria for Personal Loans of ₹2 Lakh
Are you eligible for a ₹2 Lakhs Personal Loan? Check whether you meet the criteria.
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
* A higher age limit is applicable at the time of loan maturity.
Fees and Charges for Personal Loans of ₹2 Lakh
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual, if applicable |
| Pre-closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual, if applicable |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
ABC Of Calculators
Your estimated EMI amount
₹ 0Total Interest
₹ 0Total Payout
₹ 0You are eligible for a loan of
₹ 0*EMI @ 9% Interest Rate
₹ 0*
BALANCE TRANSFER LOAN
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Reduced Interest Rates. -
Lower Monthly Payments.
TOP UP LOAN
- Easy application process
- Borrow up to 80% of property value
Different financial needs, different loans, one app - ABCD
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs
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Quick sanctions and disbursals
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Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
FAQs on Personal Loans of ₹2 Lakh
You can decrease the EMI of your Personal Loan of ₹2 Lakhs by increasing the repayment tenure. Moreover, if you have a high credit score, you can get a lower interest rate, reducing the EMIs. Partial prepayments also help in reducing the EMIs.
The factors affecting the EMI of your Personal Loan of ₹2 Lakhs include the following -
• The repayment tenure
• The interest rate
• Your credit score
If you are more than 60 years old when applying for the loan, your application will be rejected due to age because the maximum application age is 60 years.
If you need more funds, you can add a top-up if you are eligible. You can use the online eligibility calculator to find the maximum loan amount available. If the eligible amount is more than ₹2 lakhs, you can get an additional loan when you need more funds.
You can get a Personal Loan of ₹2 Lakhs to fund your father’s medical treatments. The loan is sanctioned quickly and will give you the necessary funds.
Aditya Birla Capital processes the loan applications quickly and sanctions the funds within a few hours.
You can use the eligibility calculator available online to find the maximum loan amount you can get with a salary of ₹25,000.
If your father is more than 60 years old, you cannot avail of a Personal Loan in his name as the maximum application age is limited to 60. You can, instead, get the loan in your name on your father’s behalf.
Yes, you can use the Personal Loan of ₹2 Lakhs to pay off other liabilities. The loan is a multipurpose financial solution that does not restrict funds' usage.
If you are eligible for a higher loan amount, you can simultaneously apply for multiple Personal Loans of ₹2 Lakhs. However, multiple applications would reduce your credit score and are best avoided.
Yes, you can add a co-applicant to the loan application. This will increase your eligibility and allow you to get the loan easily.
A minimum credit score of 750 is needed for a Personal Loan with Aditya Birla Capital. So, if your score is 690, you will not be eligible for the loan.
If the student has a steady source of income and qualifies on the eligibility parameters, he can get a Personal Loan of ₹2 Lakhs. However, students usually do not have a source of income and might not be eligible for the loan.
The EMI will depend on the interest rate which depends on your credit score and other eligibility parameters. You can use the online EMI calculator to find the EMI payable for the Personal Loan of ₹2 Lakhs.
Yes, you can get a Personal Loan of ₹2 Lakhs without collateral because the loan is unsecured.