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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.
Nationwide Branches
1,690
No. of Employees
61,600+
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2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
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Experience ConseQuest- A game where your decisions drive your future.
Personal Loan of ₹20 Lakhs
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
Reasons To Get a Personal Loan of ₹20 Lakhs from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure a Personal Loan of ₹20 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 ₹20 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 ₹20 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 ₹20 Lakhs
Find out the interest payable on the Personal Loan of ₹20 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 ₹20 Lakhs?
Find out if you are eligible to apply for a ₹20 Lakhs Personal Loan
Salaried
Self-employed Professional
Self-employed Non - Professional
Get A Personal Loan of ₹20 Lakhs In 5 Easy Steps
Eligibility Criteria for Personal Loans of ₹20 Lakhs
Are you eligible for a ₹20 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 ₹20 Lakhs
| 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.
Aditya Birla Finance Customer
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
Aditya Birla Finance Customer
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 ₹20 Lakhs
Check the eligibility parameters of the ₹20 Lakhs Personal Loan to know whether you can apply for the loan. To determine whether you can get the loan amount, use the online eligibility calculator and find the maximum amount you qualify for based on your eligibility parameters.
You can use Aditya Birla Capital’s online EMI calculator to find the EMI of the loan. Enter your loan amount, interest rate, and the chosen repayment tenure, and the calculator will calculate the EMI instantly.
Yes, you can apply for the ₹20 Lakhs Personal Loan with your wife as a co-applicant, provided that she has a steady source of income and qualifies under the specified eligibility parameters.
Yes, you can take out a Personal Loan to fund your vacation expenses, such as travel ticket bookings, hotel accommodations, etc.
Your credit history is an important eligibility criterion for loan sanction. So, the lender will check your credit report and score before approving your loan application.
Wait for the loan to be approved to sanction the funds to your bank account. Aditya Birla Capital processes the loans within a few hours, so you can wait for approval. You can also check the status of your loan application online through the company’s website or mobile application.
There are no restrictions on using a ₹20 Lakhs Personal Loan. You can use the loan for any financial need.
You can apply for a ₹20 Lakhs Personal Loan offline through the nearest branch of Aditya Birla Capital. Visit the branch, fill out the application form, submit your documents and apply for the loan.
You can get a loan with existing loans. However, due to existing liabilities, the maximum loan you can get will be lowered.
If you have a credit score of 810, your loan will be sanctioned quickly. Moreover, you can enjoy lower interest rates on the loan.
The loan sanction does not require collateral security. You can receive funds based on your eligibility parameters.
Getting a ₹20 Lakhs Personal Loan without documents is impossible. Your documents are important to ensure you fulfil the eligibility parameters and establish your identity. So, you have to submit the relevant documents to get the loan sanctioned.
If you default on a ₹20 Lakhs Personal Loan, the interest on the loan will accumulate. You will also incur an additional late payment fee for delaying the EMI payments. Lastly, your credit score will also be negatively affected on missing loan repayments.
The income proof is an important document to get a ₹20 Lakhs Personal Loan. It establishes the source of income and also allows the lender to assess the maximum loan amount that you can get.
Aditya Birla Capital processes the loan quickly and sanctions the funds within hours of application.