Are you worried about funding your child’s higher education, taking your family for a long-awaited dream vacation, or paying for a sudden medical emergency? It’s time to relax as getting money is now easy. Piramal Finance offers an INR 2 lakh personal loan to all eligible applicants at low-interest rates, making life easier not just for you but also your family.

How to get an Instant 200000 Personal Loan on the same day?

You can get an instant 200000 loan on the same day at Piramal Finance with a few simple steps.

  • Step 1 - Click on Apply Now and start your 200000 Personal Loan application
  • Step 2 - Enter your mobile number linked to your bank account.
  • Step 3 - Enter the OTP received on your mobile number.
  • Step 4 - Enter the required document and verify the same
  • Step 5 - Bank account verification
  • Step 6 - Income Verification
  • Step 7 – Check the Loan Final Offer, Accept, and continue the final process.

After completing the final process within 24 hours, the personal loan for 2 lakh will get credited to your verified bank account.

Features & Benefits of a 2 Lakh Personal Loan

Competitive Interest Rates

One of the main factors to consider when selecting your personal Loan EMI is the interest rate. And therefore, we offer competitive interest rates that benefit our loan applicants who get affordable EMI amounts during their tenure. Get your INR 2 lakh personal loan now with interest rates starting at 12.99% p.a.

Collateral-Free Loan

We understand your situation and the need for a personal loan. Therefore, we do not ask you for collateral during the loan application process. However, we need details and proof of your ID, address, and income.

Paperless Loan Application

Appling for a personal loan for 2 lakhs is now easy with Piramal Finance’s paperless loan application process. We offer applicant’s a 100% digital experience where they can fulfill their financial needs from the comfort of their homes. A simple, hassle-free process ensuring you have an easy and smooth loan journey.

Flexible Repayment Option

Piramal Finance offers repayment options that suit your needs. The shorter the loan tenure, the higher the EMI, and vice versa. Your loan tenure can range from 1 year to 5 years, depending on your preference.

Instant Disbursal

Get your loan amount disbursed instantly. Once you complete the application and submit all documents, we begin our verification process immediately. We take anywhere from a couple of minutes to an hour to complete the verification. If all goes well, we don’t hesitate to approve the loan. Once the loan is approved, the amount will be disbursed in your account within 24 hours.

EMI Calculation

Below is a table representing the ₹2 Lakh Personal Loan EMI Calculator for 5 years, 4 years, 3 years, 2 years, and 1 year at a standard interest rate of 12.99*%pa. Check it out:

Year Principal Amount Interest Payable Total Amount Monthly EMI Outstanding Balance
1₹ 32,755₹ 21,853₹ 54,607₹ 4,551₹ 167,245
2₹ 37,276₹ 17,332₹ 54,607₹ 4,551₹ 162,724
3₹ 39,272₹ 15,335₹ 54,607₹ 4,551₹ 160,728
4₹ 42,421₹ 12,186₹ 54,607₹ 4,551₹ 157,579
5₹ 48,277₹ 6,331₹ 54,607₹ 4,551₹ 151,723

Interest Rates for INR 2 Lakh Personal Loan

Piramal Finance offers an INR 2 lakh personal loan with attractive interest rates starting at 12.99% p.a. The interest rates are based on age, employment status, and credit score. Let’s learn each of them in detail.


If you wish to apply for a personal loan for 2 lakhs, you must be between the age of 21 to 60 years. Often, younger applicants are considered more creditworthy to repay a loan and are offered lower interest rates. While on the other hand, older adults between the age of 50 to 60 years may be offered a higher interest rate due to the risk of defaulting on a payment.

Employment Status:

You must have a steady income to be eligible for an INR 2,00,000 personal loan. This will not only help you get the loan but also will help you get a lower interest rate. Most applicants from the government sector, private sector, and PSUs are granted loans faster with lower interest rates because their salaries are credited on time, thus, putting them at a lesser risk of defaulting on their loan repayment.

Credit Score:

Another important factor that helps decide your interest rate is your credit score. If you have a high your credit score, the more creditworthy you would be considered. This could possibly result in a lower interest rate, especially if you have a CIBIL score of 750 or above. However, we, at Piramal Finance, offer applicants loans with competitive interest rates even if they have low credit scores.

Documents Required for Availing of an INR 2,00,000 personal loan

Are you applying for an INR 2 lakh personal loan? Below are some documents you must submit as part of the loan process.

ID Proof:

For your ID proof, you can submit any KYC documents such as an Aadhaar card, PAN card, passport, driving license, voter’s ID, etc.

Address Proof:

For your address proof, you can submit documents like your Aadhaar card, driving license, passport, voter’s ID, etc.

Income Proof:

As a salaried individual, you must provide the bank with some documents such as the bank statement for the last 6 months of your salary account, Form 16, income tax, and a salary certificate or your salary slips for the last 3 months. However, financial statements such as your balance sheet, P/L statement, income tax returns, GST registration certificate, and trade license will be sufficient for self-employed individuals.

Fees and Charges for A Personal Loan of INR 2 lakh

Get a personal loan of INR 2 lakh at competitive interest rates. Below is a table of our fees and charges.

FeesMaximum Tenor
Loan Processing ChargesUp to 4% of the loan amount, along with applicable taxes
Interest RateStarting at 12.99*% p.a.
Cheque Bounce ChargeINR 500 + applicable taxes
Interest on Overdue EMIsINR 500 + applicable taxes
Pre-closure4% of the loan amount + applicable taxes
Loan cancellationInterest accrued & due + applicable taxes

Types of Personal Loans:

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Frequently asked questions

What is the processing time for an INR 2 lakh personal loan?
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Can I get a personal loan of INR 2 lakh without any collateral?
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What credit score would I need for an INR 2 lakh personal loan?
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Can I avail INR 2 lakh personal loan without documents?
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Why choose Piramal Finance for a personal loan of 2 lakhs?
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