Personal Loan of Rs. 2 Lakh for 3 Years

Secure your financial goals with ease. Explore our personal loan options and borrow Rs. 2 lakh for 3 years at competitive interest rates.
Personal loan
3 min
04-April-2024

A personal loan is a financial product that provides individuals with a lump sum amount for various purposes, such as travel, medical expenses, or debt consolidation. Typically unsecured, it doesn't require collateral. Borrowers repay the personal loan through fixed monthly instalments over a specified period, with interest rates determined by factors like credit score and loan tenure. It offers financial flexibility and convenience for meeting diverse personal financial needs.

What are the eligibility criteria for a personal loan of Rs. 2 lakh?

Personal loan eligibility criteria vary among different lenders. However, if you opt for a Bajaj Finance Personal Loan, you need to meet the straightforward eligibility conditions outlined below.

  • Nationality: India
  • Age: 21 years to 80 years*.
  • Employed with: Public, private, or MNC.
  • CIBIL Score: 685 or higher.
  • Monthly salary: Starting Rs. 25,001, based on the city you live in.

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

It is easy to apply for a personal loan from Bajaj Finance. Read about our personal loan application process.

What are the documents required for Rs. 2 lakh personal loan for 3 years?

It is important to keep the required documents handy to avoid any rejections. The requirement for documents might differ from lender to lender. Bajaj Finserv Personal Loan comes with minimal documents. All you have to do is submit these documents.

  • 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
  • Utility bill of electricity and piped gas

Whether you need a travel loan or a personal loan to cover medical expenses, a personal loan can help to meet your requirement for funds. All you need is a few documents to apply for a personal loan.

How to calculate Rs. 2 lakh personal loan EMI for 3 years?

To calculate the EMI for a Rs. 2 lakh personal loan over 3 years, you can use a personal loan EMI calculator. Input the loan amount, interest rate, and tenure into the calculator. For instance, with a nominal interest rate of 12%, the EMI for a Rs. 2 lakh loan over 3 years would be approximately Rs. 6,643. This tool simplifies the process, providing instant and accurate EMI figures, helping you plan your finances effectively.

Our personal loans are available at competitive interest rates. Check out our interest rates, fees, and charges.

Why choose Bajaj Finance for a Rs. 2 lakh personal loan for 3 years

Consider Bajaj Finance to get a Rs. 2 lakh personal loan for 3 years. The application process is seamless with minimal documentation requirements and flexible repayment options. With Bajaj Finance, you can access funds quickly, ensuring financial convenience and a smooth borrowing experience tailored to your needs. Simply provide the necessary documents, and upon loan approval, receive the required funds within 24 hours* for immediate financial support.

In conclusion, Bajaj Finserv Personal Loans offer a convenient financial solution with competitive interest rates, flexible repayment options, and quick approval processes. Whether for emergencies, weddings, or higher education, Bajaj Finance Limited provides accessible funding tailored to individual needs, making it a reliable choice for borrowers.

Apply for our Personal Loan.

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*Terms and conditions apply