Indian Bank Personal Loan of 2 lakh

Indian Bank offers personal loans that can be used for various personal or work needs. Indian Bank's 2 Lakh Personal Loan comes with a non-collateral and security-free policy with reasonable interest rates, and you can pay back the money in small, manageable instalments. Applying for the loan is simple and easy. Additionally, Urban Money provides a helpful guide on getting a quick Indian Bank ₹2,00,000 personal loan. It covers important things like interest rates, who can apply, what documents you need, and more. This makes managing your finances easier. So, keep reading to find out all you need to know! 

Why Choose a Personal Loan for Rs 2 Lakh From Indian Bank?

Following are a few reasons why people usually apply for a Rs 2 lakh personal loan instant fund transfer:

• Higher Education: Indian banks understand the importance of education and how costly it might seem to many students. However, the personal loan scheme will benefit students who want to get admitted to their dream college, whether in India or abroad.
• Living Expenses: Whether you are shifting outstation or outside the country for a job-related matter or higher education, the cost of living can prove very harsh on the pocket. 
• Buying Appliances or Gadgets: A well-functioning mobile phone and a laptop are crucial to students and working professionals, but the cost of these appliances is skyrocketing daily.
• Weddings: We often hear how costly a wedding can be and how many guests need to be entertained. People usually take a wedding loan to successfully plan a hassle-free wedding experience for the bride and groom and their guests.
• Home Renovation: Many dream of achieving a house, but the work does not stop there. Furniture, requisite renovations, and remodelling of the kitchen and bedrooms are also extra expenses. A bank loan can help in planning finances and achieving the dream interior
• Investments: Requiring initial investment for trading in the stock market or needing seed capital to kickstart your entrepreneurial journey, a bank loan can be an ideal solution to your financial issues.

Features of Indian Bank Rs 2 Lakh Personal Loan

• Credit options that can be used for various purposes.
• Interest rates start from as low as 10.90%.
• The repayment period can be extended for up to 7 years.
• Instant distribution of funds.
• Simple online application process.
• There is no requirement for collateral.

Can I Get a 2 Lakh Personal Loan Instantly From Indian Bank?

You can easily ask for a quick ₹2,00,000 loan from Indian Bank through the Urban Money website. Urban Money is India’s biggest online financial platform, offering many loan choices from over 50 lenders, including Indian Bank. You can check out all the loan options, see if you qualify, determine your monthly payments, and pick the best one. After that, one of our loan experts will contact you to help you finish the rest of the application process.

EMI for Indian Bank’s 2 Lakh Personal Loan

The following table provides an accurate breakdown of monthly EMIs based on the loan repayment duration. It showcases the instalment amounts at a competitive interest rate of 10.90% annually.

Eligibility Criteria to Avail a Rs 2 Lakh loan from Indian Bank

To qualify for a Rs 2 Lakh Personal Loan from Indian Bank, the applicant must satisfy the following criteria:

• Employment Status: You need to have worked or run a business for at least two years, with at least one year at your current job or business.
• Experience: You need to have at least one year of experience.
• Income: Your monthly income should be between Rs 4000 and Rs 20,000 (Varies from city to city)
• Age: You must be between 21 and 65 years old to apply.
• Credit Score: A good credit score of 750 or higher is preferred.

Documents Required for Rs 2,00,000 Loan from Indian Bank

The following documents must be submitted when applying for a Rs 2 Lakh Personal Loan from Indian Bank:

• Proof of Income: You can provide your salary slips for the last six months, showing all deductions, or your most recent Form 16. It’s important to make sure your employer properly verifies your income evidence.
• Form 16 or verified Income Tax Return (ITR) for the past two years.
• A PAN card is necessary to qualify for an Indian Bank personal loan.
• KYC Documents: These could include your Aadhar Card, Passport, Voter ID, Ration Card, Driver’s License, etc.

How to Apply for Rs 2,00,000 Personal loan From Urban money?

Here’s how you can apply for a ₹2,00,000 personal loan from Indian Bank:

• Visit the official Urban Money website: https://www.urbanmoney.com/banks-in-india/indian-bank/personal-loan.
• Navigate to the “Loan” section and choose “Personal Loan.”
• You’ll be taken to a page dedicated to Personal Loans, showcasing top lenders across India.
• Click the “Apply Now” button beside the “Indian Bank” logo.
• Complete a short online form with your name, mobile number, and city.
• After submission, you’ll receive a 6-digit OTP on your mobile phone. Enter it into the form and click “Submit.”
• Expect a call from one of our loan specialists within 24 hours.