How to Get 2 Lakh Personal Loan?

The process is straightforward and mostly digital, provided you meet the eligibility criteria and submit minimal documentation. So how to get 2 lakh loan? To qualify, you must be an Indian citizen, aged between 21 and 80 years (at loan maturity), and employed whether salaried or self-employed with a CIBIL score of at least 685. A CIBIL score of 750 or more may be expected for this exact loan amount.

What Documents are Required for a 2 Lakh Loan?

Income requirements vary by city, with typical thresholds ranging from around Rs. 22,000 to Rs. 35,000 per month in higher-tier cities. You’ll need to gather standard documents: 

• A KYC document (such as Aadhaar, passport, or voter ID)

• PAN card

• Employee ID

• Recent salary slips (last 3 months)

• Bank statements (last 3 months).

Once your eligibility is confirmed, you can apply online by visiting the Bank’s portal, verifying your mobile number via OTP, selecting the Rs. 2 lakh loan amount, and choosing a repayment tenure which may range from 12 to 96 months depending on the loan variant (Term, Flexi Term, or Flexi Hybrid).

The interest rate is based on your credit profile, but as an example, at 13% p.a. for a 5 year tenure, the EMI works out to around Rs. 4,399 per month.

After submission, the loan undergoes instant or fast approval, often with same-day disbursal, especially if you qualify for a pre-approved offer. To enhance your chances of approval, ensure a low debt-to-income ratio, stable employment, and a strong credit score ideally above 750.

The process is straightforward and mostly digital, provided you meet the eligibility criteria and submit minimal documentation. So how to get 2 lakh loan? To qualify, you must be an Indian citizen, aged between 21 and 80 years (at loan maturity), and employed whether salaried or self-employed with a CIBIL score of at least 685. A CIBIL score of 750 or more may be expected for this exact loan amount.

What Documents are Required for a 2 Lakh Loan?

Income requirements vary by city, with typical thresholds ranging from around Rs. 22,000 to Rs. 35,000 per month in higher-tier cities. You’ll need to gather standard documents: 

• A KYC document (such as Aadhaar, passport, or voter ID)

• PAN card

• Employee ID

• Recent salary slips (last 3 months)

• Bank statements (last 3 months).

Once your eligibility is confirmed, you can apply online by visiting the Bank’s portal, verifying your mobile number via OTP, selecting the Rs. 2 lakh loan amount, and choosing a repayment tenure which may range from 12 to 96 months depending on the loan variant (Term, Flexi Term, or Flexi Hybrid).

The interest rate is based on your credit profile, but as an example, at 13% p.a. for a 5 year tenure, the EMI works out to around Rs. 4,399 per month.

After submission, the loan undergoes instant or fast approval, often with same-day disbursal, especially if you qualify for a pre-approved offer. To enhance your chances of approval, ensure a low debt-to-income ratio, stable employment, and a strong credit score ideally above 750.

The process is straightforward and mostly digital, provided you meet the eligibility criteria and submit minimal documentation. So how to get 2 lakh loan? To qualify, you must be an Indian citizen, aged between 21 and 80 years (at loan maturity), and employed whether salaried or self-employed with a CIBIL score of at least 685. A CIBIL score of 750 or more may be expected for this exact loan amount.

What Documents are Required for a 2 Lakh Loan?

Income requirements vary by city, with typical thresholds ranging from around Rs. 22,000 to Rs. 35,000 per month in higher-tier cities. You’ll need to gather standard documents: 

• A KYC document (such as Aadhaar, passport, or voter ID)

• PAN card

• Employee ID

• Recent salary slips (last 3 months)

• Bank statements (last 3 months).

Once your eligibility is confirmed, you can apply online by visiting the Bank’s portal, verifying your mobile number via OTP, selecting the Rs. 2 lakh loan amount, and choosing a repayment tenure which may range from 12 to 96 months depending on the loan variant (Term, Flexi Term, or Flexi Hybrid).

The interest rate is based on your credit profile, but as an example, at 13% p.a. for a 5 year tenure, the EMI works out to around Rs. 4,399 per month.

After submission, the loan undergoes instant or fast approval, often with same-day disbursal, especially if you qualify for a pre-approved offer. To enhance your chances of approval, ensure a low debt-to-income ratio, stable employment, and a strong credit score ideally above 750.

Hello buddy. I recently took a 2 lakh personal loan for the marriage of my daughter. So, I can help you how to get 2 lakh loan. But before that, you must learn that salary slips for the previous three months, bank statements, and identification proof (passport, driver's license, voter ID, or PAN card) are required documentation for personal loan applications.

How can I Get 2 Lakh Loan Quickly?

You can obtain an immediate Rs 2 lakh personal loan by following the below tips:

• Borrowers usually need to have a credit score of at least 700. If you have a poor credit score, you might be able to raise it via debt repayment and keeping a good credit utilisation ratio. 

• A consistent income and work history might also help improve your chances of being accepted.

• Once your eligibility has been established, evaluate several lenders to get the best terms and interest rates on a personal loan.

• It is critical to take into account factors like the loan amount, length of repayment, interest rate, and any other costs. 

• I first went to the ICICI Bank Personal Loan link.

• Then, I tapped on “Apply Now.”

• After that, I mentioned the required loan amount “Rs 2 lakh” and chose my loan tenure.

• I then tapped on “Let’s Get Started” and inputted my mobile number, PAN number, and date of birth.

• Following that, I personalised my loan and filled out the other required details.

• Finally, I completed the verification process. The loan was disbursed to my bank account.

I hope this helps you get an idea of how to get 2 lakhs immediately.