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Instant ₹2 Lakh Personal Loan Online in India
Apply online for quick approval, flexible EMIs, and zero foreclosure charges
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Personal Loan EMI Calculator
Loan amount
₹100K
₹10L
Loan term in months
Repay anytime with 0 Foreclosure charges!
9 Months
60 Months
Choose the Interest Rate
Lowest interest rate unlocked!
%
9.99%
38 %
Your EMI will be
₹5,072/month*
Total Interest Payable
₹43,435
Total Amount Payable
₹2,43,435
Check your eligibility
*Personal loan calculator is only for illustration purposes. For actual calculations refer to your Repayment Schedule & Loan Agreement.*T&C Apply
Get a 2 Lakh Personal Loan Online
Financial shortfalls can arise anytime, and personal loans can prove to be a lifeline in such situations. Whether it is to cover medical expenses, home renovation costs, or planning an important trip, your search for a ₹2 lakh personal loan ends here. FIRSTmoney smart personal loan from IDFC FIRST Bank offers quick access to loan of ₹2 lakh with competitive interest rates and a completely online application process.
FIRSTmoney is an industry-first loan solution that provides the flexibility to access funds instantly and repay it anytime without any foreclosure charges. As an individual with a good credit profile, you can conveniently apply for a ₹2 lakh personal loan online and meet your needs without any financial stress.
Benefits of a ₹2 Lakh Personal Loan
Easy-to-Use Mobile App
The IDFC FIRST Bank mobile banking app makes applying for a personal loan smooth and simple. With its clean design and effortless navigation, you can start and finish your application quickly. Just tap on ‘Apply Now’ to get started.
No Document Uploads
Skip the hassle of physical paperwork with the digital-first loan process. To apply for a FIRSTmoney personal loan, all you need is your Aadhaar and PAN number during the application and your physical PAN card for Video KYC (V-KYC).
Zero Foreclosure Charges
Enjoy the freedom to close your loan early without paying any foreclosure charges. This flexibility ensures you can repay your loan whenever it suits your finances, saving on interest costs and giving you peace of mind.
Quick Access to Extra Funds
Need more money on short notice? With the IDFC FIRST Bank app, you can request additional funds in just a few taps, ensuring that urgent expenses are covered without unnecessary delays.
Fast Loan Disbursal
Once approved, your loan amount is usually transferred to your bank account within 30 minutes, giving you immediate access to funds right when you need them.
Instant Loan Approvals up to ₹10 Lakh
While you can get instant loans up to ₹2 lakh, FIRSTmoney offers loans up to ₹10 lakh based on your eligibility.
Flexible EMI Options
Choose a repayment plan that fits your budget. FIRSTmoney personal loans come with flexible tenures ranging from 9 to 60 months, allowing you to manage EMIs with ease.
Transparent Charges
At IDFC FIRST Bank, transparency is key. You can view all applicable fees and charges upfront through the schedule of charges, ensuring there are no surprises during your loan journey.
Why Choose a ₹2 Lakh Personal Loan from IDFC FIRST Bank?
Wondering why IDFC FIRST Bank’s ₹2 lakh personal loan is the right fit for your needs? Here’s what makes it stand out:
• Get up to ₹2 lakh credited to your account within minutes of approval.
• Pre-close your loan anytime without foreclosure charges and save on interest.
• Apply digitally with minimal documents and track your loan through the app.
• Avail additional on-demand loans when required, without starting from scratch.
• Competitive interest rates starting at 9.99% p.a. keep your EMIs affordable.
What Can a ₹2 Lakh Personal Loan Be Used For?
A ₹2 lakh personal loan gives you the financial freedom to handle diverse needs without dipping into your savings. Here are some practical uses:
• Manage emergency expenses like hospitalisation or urgent medical bills.
• Fund wedding arrangements, décor, or travel plans with ease.
• Cover the cost of domestic or international trips, including flights, stays, and experiences.
• Upgrade or renovate your home interiors without financial stress.
• Handle festive shopping, family functions, or celebrations smoothly.
₹2 Lakh Personal Loan Eligibility and Documentation
Eligibility criteria for a ₹2 lakh personal loan
FIRSTmoney smart personal loans are available to individuals with a good credit score. Here are the basic eligibility requirements.
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- * CIBIL Score is a 3-digit numeric summary of your credit history, derived by using details found in the ‘Accounts’ and ‘Enquiries’ sections on your CIBIL Report and ranges from 300 to 900. The closer your score is to 900, the higher are the chances of your loan application getting approved.
Documents required for a ₹2 lakh personal loan
To apply for a ₹2 lakh personal loan, you’ll need the following:
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How to apply for ₹2 lakh personal loan using FIRSTmoney?
Applying for FIRSTmoney smart loan is a breeze. Here are the six easy steps:
Step 1
Start by scanning the QR code or clicking loan from your smartphone.
Step 2
Register using your mobile number and confirm basic/personal details to check your eligibility
Step 3
Select the loan amount of your choice and choose flexible repayment terms.
Step 4
Link your bank account where you wish the funds to be disbursed.
Step 5
Complete the video KYC verification process with your physical PAN card.
Once your loan amountis approved, you can start using the funds as per your needs..
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Interest rate for a ₹2 Lakh Personal Loan starts at 9.99% p.a
Click on ‘Know More’ to view full details of fees and charges
Frequently Asked Questions
How is the interest rate for a ₹2 lakh personal loan determined?
Interest rates for a ₹2 lakh personal loan are determined based on factors such as your credit score, income stability, employment history, and the policies of the bank.
Which documents are required for a ₹2 lakh personal loan application?
Commonly required documents for a ₹2 lakh personal loan application include proof of identity (Aadhaar card, passport, or PAN card), proof of address (utility bills, rental agreement), income proof (salary slips, bank statements), employment proof (offer letter, employment ID), and passport-sized photographs. However, with FIRSTmoney, you can apply for a ₹2 lakh loan only using your PAN card during the video KYC process.
How can I check my eligibility for a ₹2 lakh personal loan?
You can check your eligibility for a ₹2 lakh personal loan in the eligibility section of the official portal. For FIRSTmoney, basic eligibility requirements are a good credit score of 710 or above, a stable salaried income, and the age bracket between 21 to 60 years.
Can I get loan amounts above ₹2 lakh with FIRSTmoney?
Yes, FIRSTmoney offers loan of ₹2 lakh and above up to ₹10 lakh, subject to the eligibility criteria. Contact IDFC FIRST Bank for specific details on loan amounts and eligibility requirements.
How to get ₹2 lakh loan in one day?
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.
What is the monthly interest on ₹2 lakh personal loan?
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.
How much money can I get from the FIRSTmoney smart personal loan?
You can obtain multiple loans up to your approved loan offer with the FIRSTmoney smart personal loan.
What does foreclosure charge mean?
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.
What is considered a good CIBIL score to apply for a ₹2 lakh personal loan?
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.
What is the interest for a ₹2 lakh Personal Loan?
The personal loan interest rate for a ₹2 lakh loan at IDFC FIRST Bank starts at 9.99% per annum. The actual rate offered will depend on factors like your credit score, income level, and chosen repayment period.
What is the EMI for a ₹2 lakh loan?
For a ₹2 lakh loan, the EMI will vary depending on the tenure and interest rate. Assuming an annual low personal interest rate of 9.99%, 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.
How much money can I withdraw from the FIRSTmoney smart personal loan?
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.
How much salary is required for a 2 lakh personal loan?
While most banks require ₹15,000 to ₹25,000 monthly income, FIRSTmoney offers flexible options. Check your eligibility on our website.
What is EMI of a ₹2 Lakh Loan?
To calculate the EMI for a 2 Lakh Loan, you can use a personal loan EMI calculator.
What is the processing fee on a ₹2 Lakh Loan?
The personal loan processing fees for a ₹2 lakh loan at IDFC FIRST Bank generally start from 2%, depending on the loan terms.
What will be my monthly EMI for a ₹2 lakh personal loan?
For a ₹2 lakh personal loan at an interest rate of 9.99% 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.
Can I get a ₹2 lakh loan without collateral?
Yes, IDFC FIRST Bank offers personal loans as unsecured loans, which means you do not need to provide any collateral to secure the loan.
Can I apply for a ₹2 lakh personal loan online?
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.
Get FIRSTmoney Smart Personal Loan of Different Amounts
Different Types of Personal Loan for you
Small Personal Loan
For short-term needs—like covering school fees, home appliance purchases, or event planning—you can get a small personal loan under ₹2 lakh from FIRSTmoney. This smart personal loan is approved and disbursed digitally, offering the convenience of accessing funds instantly. With low interest rates and tenures tailored to your repayment capacity, you stay in control of your finances. Plus, you can repay early without additional fees, making it a budget-friendly option for minor but important expenses.
Home Improvement Loan
Planning to renovate your home, upgrade interiors, or install new fixtures? FIRSTmoney’s home improvement loan provides a reliable financing solution tailored to your project needs. Borrowers enjoy a streamlined digital application and swift approval process, letting you commence work without delay. Competitive interest rates and flexible repayment options enable you to spread out EMI payments over time. Without foreclosure penalties, you retain the freedom to repay early and renovate your home sooner, saving on interest in the process.
Instant Cash Loan
Life doesn’t wait, especially when it comes to urgent financial needs like sudden travel, repair costs, or unexpected bills. FIRSTmoney’s instant cash loan gives you quick access to funds through a fully digital process—no physical documents or collateral required. Approvals are fast, and disbursal is often done within hours. With transparent interest rates, flexible repayment tenures, and no foreclosure penalties, this loan gives you the ability to handle emergencies without long-term financial commitments.
Emergency Personal Loan
Financial emergencies—whether it’s a health concern, a critical home repair, or an urgent payment—can arrive without notice. That’s where FIRSTmoney’s emergency loan offers crucial support. Designed for speed and ease, the loan is processed entirely online with approvals and disbursals often completed within the same day. It allows you to tackle immediate challenges without compromising your savings. Benefit from flexible EMIs, competitive interest rates, and zero foreclosure charges to repay on your own terms.
Travel Personal Loan
Whether you're planning a relaxing escape, a cultural adventure, or a spontaneous getaway, funding your travels shouldn’t hold you back. With FIRSTmoney’s travel loan, you can finance everything from air tickets and accommodation to unique experiences, all without touching your savings. The application process is completely online and quick to complete, with funds disbursed soon after approval. Choose from a range of flexible repayment options and enjoy competitive interest rates that make paying back just as stress-free as your holiday.
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