Ready to move forward in life or scale up your small business? Get a personal loan of up to ₹20 lakh and fulfill your dreams in a meaningful way. Through Bikesh Finserv, you can compare the best ₹20 lakh personal loan offers from 30+ banks and NBFCs and complete your online personal loan application from start to finish.
Loan amount
₹20,00,000
Starting rate
9.99% p.a.
Disbursal
Within 24 hours
Get ₹20,00,000 Loan at 9.99%* p.a.
Compare offers from 30+ banks and NBFCs
Fully digital process — start to finish online
Disbursal within 24 hours
Your EMI will be
₹51,207
Total Interest Payable
₹4,57,924
Total Amount Payable
₹24,57,924
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Rates, fees, and disbursal timelines are indicative and may vary by lender, profile, and loan amount. *Terms & conditions apply.
| Feature | Details |
|---|---|
| Loan Amount | Rs. 2,000,000 |
| Interest Rate | 9.99% – 44% p.a. |
| Repayment Tenure | 12 – 72 months |
| Processing Fee | 0.5% – 3% of loan amount |
| Disbursal Time | Within 24 hours |
| CIBIL Score Required | 750+ (for best rates) |
| Collateral Required | None |
| Minimum Salary | Rs. 50,000 per month |
| Prepayment Charges | 0% – 5% |
| Bank/NBFC | Interest Rates (% p.a.) | Processing Fees |
|---|---|---|
| Aditya Birla Capital | 10.99 onwards | Up to 4% |
| Axis Bank | 10.49 onwards* | Up to 2% |
| Bank of Baroda | 10.15 – 18.00 | Up to 2% (Max. Rs. 10,000) |
| Bajaj Finance Limited | 11.00 – 35.00 | Up to 3.93% |
| HDFC Bank | 10.50 onwards | Up to Rs. 4,999 |
| ICICI Bank | 10.65 onwards | Up to 2% |
| Kotak Mahindra Bank | 10.99 onwards | Up to 2.5% |
| IDFC First Bank | 11.00 onwards | Up to 2% |
| IndusInd Bank | 11.25 onwards | Up to 2% |
| Yes Bank | 11.75 onwards | Up to 2.5% |
| Tata Capital | 11.50 onwards | Up to 3% |
| L&T Finance | 12.00 onwards | Up to 3% |
| Poonawalla Fincorp | 12.50 onwards | Up to 3.5% |
| Piramal Finance | 12.99 onwards | Up to 3% |
| InCred Finance | 13.00 onwards | Up to 4% |
| SMFG India Credit | 12.75 onwards | Up to 3% |
| Finnable | 13.50 onwards | Up to 4% |
*Bikesh Finserv special rates
NOTE: The above rates are as of June 2026. Interest rates are indicative and may vary by lender and profile; contact Bikesh Finserv for the most current offers. Terms & conditions apply.
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Explore personal loans by amount
A ₹20 lakh personal loan is a substantial amount that can be used for a wide range of purposes. Here are some of the best ways to use it.
Since a ₹20 lakh personal loan is unsecured and does not require collateral, you have the freedom to use the funds for any purpose you choose.
An EMI calculator helps you estimate your monthly repayment before you apply. Your personal loan EMI of Rs. 20 lakh will depend on the interest rate and loan tenure you choose.
| Loan Amount (Rs.) | Interest Rate (p.a.) | Tenure | EMI (Rs.) | Interest Cost (Rs.) |
|---|---|---|---|---|
| 20 lakh | 10.49% | 5 years | 43,017 | 581,020 |
| 20 Lakh | 12% | 5 years | 44,489 | 669,340 |
| 20 Lakh | 15% | 5 years | 47,580 | 854,800 |
| 20 lakh | 18% | 5 years | 50,807 | 1,048,420 |
Quick Tip: A shorter repayment tenure means higher EMIs but lower total interest paid. A longer tenure reduces your monthly burden but increases the overall cost of the loan.
Check your eligibility for 20 lakh personal loan.
The eligibility criteria for a ₹20 lakh personal loan vary for salaried and self-employed individuals. Below are the criteria for both categories.
| Aspect | Salaried | Self-employed |
|---|---|---|
| Credit Risk | Low | Relatively higher |
| Availability | Easy for the stable-income individuals | Challenging for the variable-income individuals |
| Interest Rates | Lower rates | Slightly higher rates |
| Pre-Approved Offers | Commonly available | May not be available |
| Lender Coverage | All banks & NBFCs | fewer lenders |
| Minimum Income Proof | 3 months' salary slips | 2–3 years' ITR + bank statements |
Tip: Whether you are salaried or self-employed, Bikesh Finserv helps you find the right lender who matches your financial profile.
Still not confident? here are the practical steps to strengthen your eligibility for 20 lakh personal loan.
Keep the following documents ready before you apply for a ₹20 lakh personal loan:
Your 20 lakh personal loan interest rate is determined by a combination of the following factors:
Quick tip: The best way to find your actual rate is to check ongoing offers through Bikesh Finserv, and doing so does not affect your credit score.
It is absolutely possible to apply for a ₹20 lakh personal loan with a low CIBIL score, but approval depends on the lender and the applicable interest rate.
Most top private and public sector banks prefer a score of 750 and above for a loan of this size. However, many NBFCs and fintech lenders actively cater to applicants with lower scores. If you are in this category, here is what can help:
Got questions?
Depending on the lender and your situation, the repayment period for a 20 lakh personal loan can vary from 12 months to 84 months (1 to 7 years). The majority of banks provide personal loans with a maximum term of 60 months.
There are usually no prepayment fees associated with floating-rate personal loans. Prepayment fees for fixed-rate loans can range from 2% to 5% of the principal balance due at the time of foreclosure. Before signing the contract, always go over the entire schedule of charges with your lender.
Usually, you'll need proof of identity (Aadhaar, PAN), proof of address, and proof of income. This refers to the last three months' pay stubs and the last six months' bank statements for those who are salaried. This includes bank statements and ITRs for the previous two to three years for self-employed people. Evidence of employment or business registration may also be required depending on the lender.
The chosen tenure and interest rate determine the EMI. The EMI is roughly Rs. 43,017 at 10.49% p.a. for five years. The EMI is roughly Rs. 44,489 at 12% for the same period. Try different combinations based on the rate offered by your preferred lender using the 20 lakh personal loan EMI calculator on this page.
For those who have been pre-approved, funds can be credited within a day. After document verification and final approval, standard applications usually take one to three working days.
Compare offers, check eligibility, and get funds for your Rs. 20 lakh personal loan.
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