Rs. 2 lakh Personal Loan EMI for 5 years

Rs. 2 lakh Personal Loan EMI for 5 years

Get a Rs. 2 lakh personal loan with quick approval, flexible tenure, and easy EMI options. Check your pre-approved offer in 2 steps.
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Rs. 40,000 - Rs. 55 lakh

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What is a Rs. 2 lakh personal loan EMI for 5 Years?

A Rs. 2 lakh personal loan EMI for 5 years is influenced by the interest rate associated with the loan. With interest rates ranging approximately from 10% to 30% p.a., the monthly instalment can vary significantly based on the rate and tenure. 


To accurately calculate your personal loan EMI, it is recommended to use an online EMI calculator. These calculators provide instant results by factoring in the loan amount, repayment tenure, and interest rate. This ensures that you have a clear understanding of your monthly financial obligations and can plan your budget effectively. Individuals seeking financial assistance can benefit from the personal loan EMI calculator. This tool offers easy and precise calculations, allowing you to make well-informed repayment decisions. With additional features like minimal documentation, instant approval, and flexible tenure options of ranging from 12 months to 108 months, a Bajaj Finserv Personal Loan is designed to meet diverse financial requirements efficiently.


 

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Personal loan EMI calculator for Rs. 2 lakh

  • A personal loan EMI calculator is an excellent tool to simplify the loan calculation process. By entering your loan amount (Rs. 2 lakh), the interest rate, and tenure (5 years), you can quickly get your monthly EMI. Here is how it works:
     

    1. Input the loan amount: Rs. 2 lakh
    2. Select tenure: 60 months (5 years)
    3. Enter the applicable interest rate
       

    Once you input these values, the EMI calculator will provide you with the exact monthly repayment amount. For example, at an interest rate of 13%, the EMI for a Rs. 2 lakh loan over 5 years would be approximately Rs. 4,551.

    Only 2 steps to check your eligibility


     

How Is EMI for a Rs. 2 Lakh Loan Calculated?


 

The EMI (Equated Monthly Instalment) for a Rs. 2 lakh loan depends on three main factors:

  • Loan amount (Principal): Rs. 2,00,000
  • Interest rate: Charged by the lender (per annum)
  • Loan tenure: Repayment period in months

 

EMI Calculation Formula

EMI = [P × R × (1 + R)ⁿ] ÷ [(1 + R)ⁿ − 1]
 

Where:

  • P = Loan amount
  • R = Monthly interest rate (annual rate ÷ 12 ÷ 100)
  • N = Loan tenure in months


 

EMI for Rs. 2 Lakh Loan for 5 Years at Different Interest Rates


Below is a detailed EMI table for a Rs. 2 lakh loan with a 5-year (60 months) tenure, showing year-wise interest, principal repayment, and total amount payable at different interest rates.

 

EMI Table for Rs. 2 Lakh Loan – 5 Years Tenure

Interest RateMonthly EMITotal Interest PayablePrincipal AmountTotal Amount Payable
10% p.a.Rs. 4,250Rs. 55,000Rs. 2,00,000Rs. 2,55,000
12% p.a.Rs. 4,450Rs. 67,000Rs. 2,00,000Rs. 2,67,000
14% p.a.Rs. 4,660Rs. 79,600Rs. 2,00,000Rs. 2,79,600
16% p.a.Rs. 4,870Rs. 92,200Rs. 2,00,000Rs. 2,92,200
18% p.a.Rs. 5,080Rs. 1,04,800Rs. 2,00,000Rs. 3,04,800
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Eligibility criteria and documents for personal loan

  • Wondering if you qualify? Bajaj Finserv makes it simple. Find all the points you need on the personal loan eligibility criteria page. You are eligible if:


    • Nationality: Indian
    • Age: 21 years to 80 years.
    • Employed with: Public, private, or MNC.
    • CIBIL Score: 650 or higher.
    • Customer profile: Self-employed or Salaried

    *You should be 80 years or younger, at the end of the loan tenure.

  • Documents required

    • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
    • PAN card
    • Employee ID card
    • Salary slips of the last 3 months
    • Bank account statements of the previous 3 months
    • Piped gas bill
    • Pension order
    • Letter of Allotment of Accommodation Issued by Employer
    • Property / Municipal tax receipt
    • Utility bill
    • Phone bill
    • Real-time image / photograph


     

    Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Factors that affect the interest rate applicable on a Rs. 2 lakh personal loan

Your interest rate is decided by a few important things:


  • Credit score: Higher means better rates.
  • Stable income: Shows reliability to lenders.
  • Loan tenure: Shorter terms might fetch lower rates.
  • Debt-to-income ratio: Lower is always better.
  • Lender’s policies: Different lenders have their own rates and rules.
     

Why it matters: The right mix of these factors keeps your EMIs comfortable and saves you money.
 

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How to apply for personal loan

    • Click on ‘CHECK ELIGIBILITY’ on this page.
    • Enter your 10-digit mobile number and the OTP sent to your phone.
    • Check if you have an offer. If not, fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
    • Now, click on ‘PROCEED’ to visit the loan selection page.
    • Enter the offer or loan amount that you need. Choose from our personal loan variants.
    • Choose the repayment tenure and click on ‘PROCEED’.
    • Complete your KYC and submit your application.

    Our representative will contact you for further steps.

If you want a simple, worry-free way to cover expenses or emergencies, a Rs. 2 lakh loan is a great choice. Just know your EMI, check your eligibility, and keep your documents handy! Use an EMI calculator to plan your repayments, and you’re set. Smart planning today means less stress tomorrow.


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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term (Dropline) Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 36 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of interest per annum

10% to 30% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loans –Up To Rs 1,999 To Up To Rs 18,999/- (Inclusive Of Applicable Taxes)

Will be deducted upfront from loan amount.

Bounce charges

Rs. 700 to Rs. 1,200/- per bounce

“Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason.

Part-prepayment charges

Full Pre-payment:

  • Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment

  • Flexi Term (Dropline) Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

  • Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount, as on the date of full prepayment.

Part Pre-payment

  • Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

  • Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term (Dropline) Loan:

Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.


Flexi Hybrid Term Loan:

Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit During Subsequent Tenure

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Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000