Apply For Personal Loan for ₹2 Lakhs instantly

FIRSTmoney offers instant loan approval within the same day. In case you need quick funds to meet your urgent requirements, it is one of the most suitable personal loan options. 

The monthly interest on a ₹2 lakh personal loan depends on the applicable interest rate and the loan tenure. You can use the online IDFC FIRST Bank EMI calculator to estimate the monthly interest component based on the chosen interest rate and loan duration.

You can obtain multiple loans up to your approved loan offer with the FIRSTmoney smart personal loan.

Foreclosure charge refers to the fee charged by a bank if you choose to repay the entire loan amount before the end of the loan tenure. This charge is typically expressed as a percentage of the outstanding loan amount and may vary among lenders. However, the FIRSTmoney smart loan gives you the flexibility to repay the amount in full before maturity without any foreclosure charges. This, in turn, helps you close your loan and eliminate financial liabilities early. 

A CIBIL score of 730 and above is generally considered to be good when applying for a ₹2 lakh personal loan. However, a higher score typically increases the likelihood of loan approval and favourable interest rates.

The personal loan interest rate for a ₹2 lakh loan at IDFC FIRST Bank starts at 10.99% per annum. The actual rate offered will depend on factors like your credit score, income level, and chosen repayment period.

For a ₹2 lakh loan, the EMI will vary depending on the tenure and interest rate. Assuming an annual low personal interest rate of 10.99%, here’s an estimate of the EMI for different loan tenures:

• • For a 12-month tenure, the EMI would be approximately ₹18,018.
• • For a 24-month tenure, the EMI drops to around ₹10,034.
• • If you choose a 36-month tenure, the EMI will be approximately ₹7,642.
• • For a 60-month tenure, the EMI would be around ₹5,387.

These values are approximate and will change based on the actual interest rate and loan conditions.

You can withdraw any amount above ₹5,000 up to your approved limit from the FIRSTmoney. Additionally, you get the flexibility to access multiple loans on-demand without starting the application process from scratch.

While most banks require ₹15,000 to ₹25,000 monthly income, FIRSTmoney offers flexible options. Check your eligibility on our website.

To calculate the EMI for a 2 Lakh Loan, you can use a personal loan EMI calculator. 

The personal loan processing fees for a ₹2 lakh loan at IDFC FIRST Bank generally start from 2%, depending on the loan terms.

For a ₹2 lakh personal loan at an interest rate of 10.99% over a tenure of 5 years, the monthly EMI would be approximately ₹4,348. You can use our EMI calculator to determine your specific payment amount based on different tenures.

Yes, IDFC FIRST Bank offers personal loans as unsecured loans, which means you do not need to provide any collateral to secure the loan.

Yes, you can easily apply for a ₹2 lakh personal loan online through IDFC FIRST Bank’s official website or mobile app, making the process convenient and efficient.