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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important nondeposit 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 68,400 employees, the businesses of ABCL have a nationwide reach with over 1,740 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,740
No. of Employees
68,400
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.91 Lakh Cr
Consolidated Lending Book
INR 2 Lakh CrCorporate Governance Policies
- Policy for appointment of Statutory Auditors
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What is ₹20 Lakh Personal Loan
A ₹20 lakh personal loan is a high-value financing option designed to help manage significant expenses, such as home renovation, medical emergencies, business expansion, or debt consolidation. With quick approvals, minimal documentation, and flexible repayment options, this loan provides financial assistance for large commitments.
Alternatively, a ₹20 lakh personal loan is a collateral-free financing solution for substantial personal or professional expenses. Whether it is for a wedding, higher education, or an urgent financial requirement, this loan offers flexible EMIs and instant disbursal without the need for security.
Calculate Your Personal Loan EMI Premium
Wondering how to calculate your personal loan emi premium? We have a handy tool for it.
Our Personal Finance Products
Find a wide range of solutions for all your financing needs.
Enjoy low personal loan interest rates for affordable repayments. Choose Aditya Birla Capital Personal Loans and instantly find your loan's expected EMI.
Check your Aditya Birla Capital Personal Loan eligibility and get a collateral-free financial solution.
Reasons To Get a Personal Loan of ₹20 Lakhs from Aditya Birla Capital
High Loan Amount
Avail up to ₹20 lakh for large expenses
Quick Approval
Faster processing with minimal paperwork
Flexible Tenure
Repayment tenure ranging from 12 to 84 months
No Collateral Required
100% unsecured loan
Competitive Interest Rates
Attractive rates based on the applicant’s credit profile
Instant Loan Disbursal
Funds are credited directly to the bank account
Flexible EMIs
Flexible repayment options tailored to individual budgets
No Hidden Charges
Transparent fees with clear terms
Multi-Purpose Use
Use funds for education, weddings, medical needs, or business expansion
Digital Process
Complete online application and approval process
Eligibility Criteria for a ₹20 Lakh Personal Loan
Documents Required for ₹20 Lakh Personal Loan
- Identity Proof: Aadhaar Card, PAN Card, Passport
- Address Proof: Voter ID, Utility Bill, Driving License
- Income Proof: Salary slips for the last three months
- Bank Statement: Last six months' statement for financial verification
For Salaried Individuals
- KYC Documents: PAN Card, Aadhaar Card, Passport
- Business Proof: GST certificate, Business registration proof
- Income Proof: Income Tax Returns (ITR) for the last two years
- Bank Statement: Last six months for financial verification
For Self-Employed Individuals
Eligibility Criteria for ₹20 Lakh Personal Loan
- Minimum Age: 21 years
- Maximum Age: 60 years
- Salaried: Minimum monthly salary of ₹50,000
- Self-Employed: Minimum annual turnover of ₹5 lakh with at least three years of business continuity
- Employment Type : Open to salaried professionals, self-employed individuals, and entrepreneurs
- Credit Score Requirement : A credit score of 750+ is recommended for better approval chances and loan terms
Age Requirement
Income Criteria
How to Apply ₹20 Lakh Personal Loan?
Apply Online
Visit the lender’s website and complete the loan application form
Upload Documents
Submit KYC, income proof, and bank statements digitally
Approval Process
The application is reviewed, and eligibility is assessed
Receive Funds
Upon approval, ₹20 lakh is directly credited to the bank account
Revision of Reference Rates for determining Interest Rates on loans given
A high credit score signals reliability to lenders and can help you get lower personal loan interest rates.
High existing debt can lead to higher interest, as lenders see more risk in lending to heavily indebted borrowers.
Stable income and employment history make you eligible for personal loans with low interest rates, as lenders perceive lower risk.
Different banks and NBFCs have varying interest rate structures, so comparing offers helps identify the personal loan minimum interest rate available to you.
Larger loans or longer repayment tenures may attract slightly higher personal loan rates due to increased risk.
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. |
Interest Rate for a
₹20 Lakh Personal Loan
Interest rates vary based on the applicant’s credit score, income, and lender policies. with the lender for the latest interest rates and applicable charges.
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 |
Customer Satisfaction Stories
Hear from our customers what they have to say about their experience.
Mr. Hiralkumar Ashokbhai Patel
Aditya Birla Finance Customer
Mr. Pramod Kumar Saini
Aditya Birla Finance Customer
Ashesh Shah
Aditya Birla Capital Limited
Mr. Baijnath Choudhary
Aditya Birla Capital
Mrs. Snehal Rajpure
Aditya Birla Finance Customer
Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
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.
Balance Transfer
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Reduced Interest Rates -
Lower Monthly Payments
Top-Up
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Comprehensive coverage
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Affordable with low premiums
ABC Of Personal Loans
Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.
For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.
The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.