Get Personal Loan of ₹20 Lakh with Quick Approval
Poonawalla Fincorp’s Personal Loan of ₹20 Lakh is dedicated to individuals aspiring to achieve their financial goals. You can avail of a Personal Loan of ₹20 Lakh with competitive interest within just a few clicks. We offer Personal Loan with no end-use restrictions, helping you to achieve your financial goal faster. With the online loan application process, you can instantly get ₹20 Lakh Personal Loan without providing any collateral. Moreover, our minimal documentation requirement and easy-to-meet eligibility criteria create an overwhelming customer experience across various locations.
₹20 Lakh Personal Loan EMI Calculator
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EMI Amount = *
₹20 Lakh Personal Loan Interest Rates & Charges
Our interest rates for Personal Loan start at *9.99% p.a. without any hidden charges, helping customers avail loan without any second thoughts. Moreover, you don’t have to pay any foreclosure charges if you wish to prepay your Personal Loan.
| Personal Loan Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% |
| Lowest EMI Per Month | Starting from ₹2124* 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% per annum |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
₹20 Lakh Personal Loan EMI for up to 5 Years
If you wish to get a ₹20 Lakh Personal Loan for five years, you can take advantage of our competitive interest rates. Our collateral-free Personal Loans help you manage your financial needs without hassle. Before applying for the loan, you can calculate your EMIs. The table below shows your ₹20 Lakh Personal Loan EMIs for five years.
| Tenure | Approximate EMI at 9.99% Interest Rate |
| 2 years | ₹9,228/month |
| 3 years | ₹6,425/month |
| 5 years | ₹4,248/month |
Eligibility Criteria to get a Personal Loan of ₹20 Lakh
The eligibility criteria for Poonawalla Fincorp’s Personal Loans are easy to fulfill. We have kept our requirements minimal, reducing the overall loan processing time. If you wish to get a ₹20 Lakh Personal Loan from Poonawalla Fincorp, you must fulfil the eligibility criteria below.
Age
Citizenship
Employment Type
Work Experience
Monthly Salary
- Age - Between 21 and 60 years.
- Citizenship - The applicant must be an Indian citizen.
- Employment Type - The applicant must be a salaried individual.
- Work Experience - Must have at least one year of work experience and at least one month of stable employment with the current employer.
- Monthly Salary - The applicant must earn a minimum monthly salary of ₹30,000.
Documents Required for ₹20 Lakh Personal Loan
Our Personal Loan application is completely digital, you just have to procure soft copies of the required documents. Here is the list of documents required for a Personal Loan.
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KYC documents
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Address proof
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Income documents
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Financial documents
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Employment proof
- KYC documents - PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
- Address proof - Rent agreement/passport/utility bills
- Income documents - Latest salary slip
- Financial documents - Salary account statement for the past 3 months
- Employment proof - Employee ID card and official Email ID confirmation
Features & Benefits of ₹20 Lakh Personal Loan
Poonawalla Fincorp’s Personal Loans are feature-rich and specially curated to cover your diverse financial needs. With Poonawalla Fincorp, you can leverage features and benefits such as:
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High Loan Amount
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Minimal documentation
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No hidden charges
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No foreclosure charges
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Online processing
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Quick disbursal
How to Apply for ₹20 Lakh Personal Loan?
You can apply for a ₹20 Lakh Personal Loan for 7 years by following these three simple steps:
Step 1: Click on the Apply Now’ button.
Step 2: Fill in the required details on the loan application form.
Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Apply for ₹20 Lakh Personal Loan within 5 Minutes
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Frequently Asked Questions on ₹20 Lakh Personal Loan
If you wish to apply for ₹20 Lakh Personal Loan for 5 years, your monthly EMI will be approximate ₹4,248*.
Our Personal Loan interest rates start at 9.99%* p.a.
If you successfully fulfill the eligibility criteria, you can get a ₹20 Lakh Personal Loan instantly. To avail Personal Loan, you need to follow the below simple three steps:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Kindly check the eligibility criteria for Personal Loans mentioned below:
- Age - Between 21 and 60 years.
- Citizenship - The applicant must be an Indian citizen.
- Employment Type - The applicant must be a salaried individual.
- Work Experience - Must have at least one year of work experience and at least one month of stable employment with the current employer.
- Monthly Salary - The applicant must earn a minimum monthly salary of ₹30,000.
However, certain aspects like your bureau score and financial history also influence your eligibility for Personal Loans.
We offer online applications for Personal Loan.
Post verification of your documents, our customer service executive will call you within an hour regarding your loan application approval.
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