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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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Experience ConseQuest- A game where your decisions drive your future.
Personal Loan of ₹20,000
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
Reasons To Get a Personal Loan of ₹20,000 from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure a Personal Loan of ₹20,000. 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 ₹20,000 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 ₹20,000 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 ₹20,000
Find out the interest payable on the Personal Loan of ₹20,000 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 ₹20,000?
Find out if you are eligible to apply for a ₹20,000 Personal Loan
Salaried
Self-employed Professional
Self-employed Non - Professional
Get A Personal Loan of ₹20,000 In 5 Easy Steps
Eligibility Criteria for Personal Loans of ₹20,000
Are you eligible for a ₹20,000 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 ₹20,000
| 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
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.
FAQs on Personal Loans of ₹20,000
Senior citizens aged 61 years and above cannot apply for a ₹20,000 Personal Loan. The maximum age for applying for a loan is limited to 60 years.
Yes, you can jointly apply for a ₹20,000 Personal Loan with a co-applicant. In fact, adding a co-applicant increases your eligibility, allowing you to apply for a higher loan amount.
After applying for the loan, you will get regular updates from Aditya Birla Capital regarding your loan application status. Alternatively, you can check your status online on the company’s website or mobile application.
Loss of job after taking a ₹20,000 Personal Loan does not affect the loan. However, you should ensure sufficient funds in your bank account to pay the EMIs as and when they fall due. If you miss any EMI, you default on the loan. This default will incur late payment charges and additional interest rates and degrade your credit score.
Yes, prepayment and foreclosure are allowed on a ₹20,000 Personal Loan from Aditya Birla Capital. However, prepayment is allowed after the first 6 months of taking the loan, while foreclosure is allowed after 12 months. Plus, prepayment and foreclosure involve additional charges too.
You can contact Aditya Birla Capital at 1800 270 7000, the toll-free number. Alternatively, you can leave your contact details online on the company’s website or mobile application, and an executive will contact you to help you with the ₹20,000 Personal Loan.
Aditya Birla Capital processes and sanctions the funds quickly. You can get the funds within a few hours if your application and documents are correct.
Some factors that affect the interest rates of a ₹20,000 Personal Loan include the following -
• Your credit score
• The lender’s rates
• Macro rates
• Other eligibility parameters
If you do not fulfil the specified eligibility parameters or if your documentation is incomplete, your ₹20,000 Personal Loan application can be rejected.
Aditya Birla Capital requires a minimum credit score of 750+ for approving a Personal Loan. You cannot get the loan if your score is below 750.
The ₹20,000 Personal Loan is an unsecured loan. As such, you don’t have to pledge a security for the loan.
The maximum loan tenure of a ₹20,000 Personal Loan is 84 months.
Your Aadhaar Card is an important document to apply for the ₹20,000 Personal Loan. However, other documents are also required for the loan besides the Aadhaar Card. So, you must submit the required documents to get the loan.
A Salary Slip is an important document for salaried borrowers as it establishes the source and amount of income. If you don’t have a Salary Slip you can submit Form 16, bank statement or any other document which establishes your income to get the loan.