Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-84 Months
Hidden Charges:
0%

Get a ₹20 Lakh Personal Loan Online

Unlock new opportunities with a ₹20 Lakh Personal Loan! Whether you are planning to further your education, organise your wedding, renovate your home, or consolidate existing debts, our hassle-free loan helps cover any requirement. Poonawalla Fincorp offers personal use loans at attractive interest rates with minimal paperwork, quick approval, and no hidden charges. Apply now!
 

Why Choose Poonawalla Fincorp

Collateral-free
Loan
Competitive Interest Rate
No End-use
Restrictions
Flexible Repayment Tenure
Minimal
Paperwork
Quick
Approval

Personal Loan EMI Calculator

Calculate your monthly payable instalments quickly with our online EMI calculator. Just enter the loan amount, tenure, and interest rate. Try now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Rupees one lakh

Interest Rate

%
9.99 %
30 %

Tenure

Months
12Months
84Months

Apply for a Personal Loan In Just 3 Steps

Click on “Apply Now”

Tap the “Apply Now”button to initiate your application.

Enter Details

Enter your DOB, PAN card number, monthly income, and residential details.

Upload Documents

Upload the necessary documents for quicker approval.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a ₹20 Lakh Personal Loan

Meet the simple eligibility criteria:

  • Age: Between 21 and 60 years.
  • Citizenship: Indian.
  • Employment: A full-time job at Central Govt, PSU, MNC, Listed, Unlisted Public Ltd, Pvt Ltd, LLP, or companies listed internally.
  • Work Experience: Work experience of at least 1 year; 1 month of experience in the present company.
  • Monthly Income: Minimum of ₹30,000.

Documents Required for ₹20 Lakh Personal Loan

Submit just a few essential documents:

  • Address Proof: Utility Bills, Passport, or Rent Agreement.
  • KYC Documents: Aadhaar Card, PAN Card, Voter ID, Driving License, or Passport.
  • Employment Proof: Official Email ID or Employee ID card.
  • Financial Documents: Bank Statements for the last 3 months.

Interest Rate and Charges for a ₹20 Lakh Personal Loan

Avail of the loan at competitive rates of interest and nominal charges:

Interest Rate
9.99%* p.a. onwards
Loan Amount
₹1 Lakh to ₹50 Lakh
Loan Processing Fees
Up to 3% plus applicable taxes
Lowest EMI Per Month
Starting from ₹2,124* per Lakh for 60 months
Loan Tenure
12 – 84 months
Prepayment/Foreclosure Charges
0% if paid from own sources
4% if paid from other sources
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500 per bounce plus applicable taxes
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

₹20 Lakh Personal Loan EMI for Up to 5 Years

Check the payable EMIs for up to 5 years:

Tenure Approximate Monthly Payment at 9.99% p.a. Interest Rate
2 year ₹92,198/ month*
3 years ₹64,441/ month*
5 years ₹42,396/ month*

Different Uses of a ₹20 Lakh Personal Loan

  • Travelling
  • Medical emergencies
  • Wedding
  • Higher education
  • Purchase of expensive appliances, gadgets, etc.
  • Debt consolidation

Tips for a Successful Personal Loan Application

  • Have a strong CIBIL score
  • Review and improve credit report
  • Manage debt-to-income ratio
  • Keep documents ready in advance

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

What is the required credit score to apply for a ₹20 Lakh Personal Loan?

The required credit score for a ₹20 Lakh Loan is 750 or above.

What is the processing time for a ₹20 Lakh Personal Loan at Poonawalla Fincorp?

You can get approval and disbursement instantly after successful verification and approval.

What would the monthly EMI be for a ₹20 Lakh Personal Loan?

The EMI for a ₹20 Lakh Personal Loan depends on the repayment tenure you select. For example, if you opt for a repayment tenure of 5 years, your month-wise payable EMI will be ₹42,396*.