Get a ₹2 Lakh Personal Loan for Your Financial Needs
Personal Loans Starting at 9.99% Interest
Enter your details to find eligible loan options in minutes.
Interest Rates from 9.99% to 24% p.a.
25+ Lending Partners
Loan for Low CIBIL Score
Repayment Tenure of Up to 5 Years
- Do you have immediate financial needs, such as medical emergencies, wedding expenses, home repairs, education, or travel? Hello Credit helps you find the right lending partners to get a ₹2 lakh personal loan, even with a low CIBIL score, with interest rates ranging from 9.99% to 24% p.a. and repayment tenures of up to 5 years, along with EMI options.
Quick Overview
Explore the key details of a personal loan of up to ₹ 2 lakh, including loan amount, monthly EMI, interest rate, processing charges, CIBIL score eligibility, employment types, and common loan purposes
What are the Documents Required for a ₹2 Lakh Loan?
The documents below are required to verify that you meet the criteria to avail the requested amount.
- PAN Card for identity and financial verification
- CIBIL report for analysing credit history
- Aadhaar Card or other valid KYC documents
- Bank statements for the previous 3–6 months
- Latest salary slips for salaried individuals
- Income Tax Returns (ITR) and relevant business documents for self-employed applicants
Check your Eligibility for Getting a Personal Loan
Please review the details below to check your eligibility and ensure a smooth application process.
- Age : You should generally be between 21 and 60 years.
- CIBIL Score : A CIBIL score of 700 or above may improve your chances of loan approval.
- Low CIBIL Score : Those with a lower score may still apply but could be required to provide additional documents, depending on the lender's assessment.
- Income : Your earnings must meet the minimum income requirement set by the lender.
- Employment Type : Salaried professionals, self-employed individuals, and business owners may be eligible, subject to the lender's criteria.
- Other Factors : Your repayment capacity, existing financial obligations, and credit repayment history may also be considered during the assessment.
Note : Eligibility and document requirements may vary depending on your financial profile, CIBIL report, and the lender’s specific eligibility criteria and policies.
Calculate Your Personal Loan EMI Using Our EMI Calculator
Calculate your monthly EMI by changing the interest rate to match the rates offered by banks, Non-Banking Financial Companies (NBFCs), and RBI-regulated lenders.
Estimated Monthly EMI
₹9,461
₹2 Lakh Personal Loan EMI for 1, 2, 3, 4, and 5 Years
The table below explains your EMI for a ₹2 lakh personal loan over 1–5 years. It will help you make informed financial decisions.
- Loan Amount= 2 lakhs
- Interest Rate= 9.99% per annum
- Tenure= 1 to 5 years
EMI
₹17,582 per month
Total amount paid along with interest
₹2,10,987
Total Interest Payable
₹10,987
EMI
₹9,228 per month
Total amount paid along with interest
₹2,21,473
Total Interest Payable
₹21,473
EMI
₹6,452 per month
Total amount paid along with interest
₹2,32,290
Total Interest Payable
₹32,290
EMI
₹5,072 per month
Total amount paid along with interest
₹2,43,435
Total Interest Payable
₹43,435
EMI
₹4,248 per month
Total amount paid along with interest
₹2,54,906
Total Interest Payable
₹54,906
- What you need to understand from the table:
- The EMI amount decreases when you choose a longer loan tenure.
- For a 1-year tenure, your monthly EMI will be ₹17,582. If you choose a 5-year tenure, your monthly EMI will be ₹4,248.
- Then,
- If the loan tenure increases, the total amount you pay, including interest, will also increase.
- If you can afford a higher EMI, choosing a shorter tenure can help you pay less interest compared to a 5-year tenure.
Note : The EMI calculations above are based on an interest rate starting at 9.99% p.a. The actual interest rate may vary depending on the lender’s policies, your CIBIL score, credit history, income, and other eligibility criteria.
Can You Get a ₹2 Lakh Personal Loan with a Low CIBIL Score?
Yes, a low CIBIL score does not necessarily prevent you from getting a loan. Many of our lending partners offer a ₹2 lakh loan based on other factors, such as your monthly salary, debt-to-income ratio, and co-applicant details.
Here is a real-time example
An applicant approached Hello Credit for a ₹2 lakh personal loan. The applicant's details are provided below:
- Required Loan Amount: ₹2 lakh
- CIBIL Score: 540
- Monthly Salary: ₹86,000
Due to his low CIBIL score and poor credit history, the lender requested additional documents beyond the usual eligibility and documentation requirements. In this case, the lender asked him to provide an electricity (EB) bill for the property as part of the verification process.
To meet the lender's co-applicant requirement, he chose his wife and mother-in-law as co-applicants, as the property was registered in his mother-in-law's name. The additional documentation and co-applicants helped him proceed with his loan application despite his low CIBIL score.
Result: He successfully got a loan of ₹2 lakh. Even though his CIBIL score was low, he had a good repayment capacity and a stable monthly income. With the support of his co-applicants and the additional property EB bill requested by the lender, he successfully secured a personal loan of ₹2 lakh from one of our lending partners.
Not Getting a Loan Due to a Low CIBIL Score?
Get Expert Guidance to Improve Your CIBIL Score and Explore Suitable Loan Options.
Can Self-Employed Individuals Apply for a ₹2 Lakh Personal Loan?
Yes, you can get a ₹2 lakh loan as a self-employed individual. Check the eligibility requirements below to understand how you can apply and get your loan approved.
Here is a real-time example
- CIBIL Score: 700+ is preferable; a person with a low CIBIL score can also apply.
- Income Tax Return (ITR): Annual income generally looks for around ₹4–5 lakh per year, as reflected in your ITR; this varies by lender.
- Co-applicant: Having a working co-applicant with a good income is preferable.
- Address Proof: You may be asked to provide a valid address proof, such as an electricity bill or another accepted document.
How Hello Credit Helps You Explore Personal Loan Options
Hello Credit connects you with lending partners, helping you explore personal loan options that suit your financial needs, compare offers, and choose a repayment plan that works for you.
25+ Lending Partners
We connect applicants with our lending partners, including Brahma Finance, Muthoot Finance, Zype, and others. Applicants can apply for a ₹2 lakh personal loan through our lending partners.
Loan for Low CIBIL score
We help applicants explore loan options from our lending partners, even with a CIBIL score between 500-650, by analysing other factors and connecting you with the right lenders
Assist with CIBIL Score
Once you purchase our CIBIL Credit Essential Plan, we guide you on understanding your credit report and adopting practices that may help improve your credit profile.
How to Get a ₹2 Lakh Personal Loan?
Follow the step-by-step guide for a smooth loan process
Fill in Your Details
Apply Now” button below and fill out the form with details such as your name, phone number, email, monthly income, and employment type.
Get a Call from Our Team
Our team will contact you through WhatsApp or a call and then check your CIBIL score and report, with your consent, to understand your credit history
Verify the documents
Keep all the necessary documents, including your PAN, Aadhaar, bank statements, and salary slips, ready. They will be evaluated as part of the eligibility check
Addressing the Issues
If you have a low CIBIL score or more debt, we will guide you on how to improve your CIBIL score or help you find suitable lenders for your requested loan amount with additional documents, as required by the lenders.
Get Your Loan Offer
If the lender approves your application and completes the required formalities, you will be informed of the loan amount, EMI, and interest rate. The loan amount will be disbursed to your bank account.