Personal loan of ₹2 lakh: EMI, interest and who offers it
₹2 lakh covers bigger one-off costs — a wedding, home repairs, a family medical treatment. 4 lenders list it today, at 12% to 36% a year, over up to 36 months.
Where options start to thin out
Just above this amount the choice narrows: 3 lenders list ₹2.5 lakh, against 4 at ₹2 lakh. If you are close to the line, borrowing exactly what you need keeps more options open.
Check the amount that reaches your account
On a loan this size a processing fee, plus GST on it, is often deducted before disbursal — so ₹2 lakh sanctioned can arrive as a little less. The Key Fact Statement shows the net disbursed amount and the APR, which includes those fees. Plan the wedding or repair budget around the net figure, not the sanctioned one. More on charges in interest rates and fees.
Example EMIs for ₹2 lakh
| Amount | Tenure | Listed rates | EMI | Total interest at the highest rate |
|---|---|---|---|---|
| ₹2 lakh | 12 months | 12% – 36% | ₹17,770 – ₹20,092 | ₹41,109 |
| ₹2 lakh | 24 months | 12% – 36% | ₹9,415 – ₹11,809 | ₹83,428 |
| ₹2 lakh | 36 months | 12% – 30% | ₹6,643 – ₹8,490 | ₹1,05,651 |
Each row counts only the lenders that list that amount and tenure. Reducing-balance interest, equal monthly instalments, no fees included — an illustration, not an offer.
Who lends through Innopay Money
Loans are sanctioned by RBI-regulated lenders; Innopay Money does not lend. These are the lenders whose listed range includes ₹2 lakh.The lender for your loan is named in your offer and in its Key Fact Statement. How to check a lender.
See the 4 lenders and their listed termsalphabetical, not a ranking
| Lender | Interest rate (p.a.) | Amount | Tenure (months) | Application fee |
|---|---|---|---|---|
| Hero Fincorp | 18% – 30% | ₹50,000 – ₹7 lakh | 12 – 36 | ₹0 |
| mPokket | 18% – 36% | ₹1,000 – ₹2 lakh | 6 – 24 | ₹0 |
| Poonawalla Fincorp | 12% – 29% | ₹50,000 – ₹15 lakh | 12 – 36 | ₹0 |
| TATA CAPITAL | 12% – 29% | ₹65,000 – ₹50 lakh | 12 – 36 | ₹0 |
Each lender’s current listing on Innopay Money — not an offer. Your rate, any processing fee and the APR are in the lender’s Key Fact Statement.
Create an account with your mobile number, choose the amount you need and see the offers available to you. The lender decides approval.
Apply for ₹2 lakhFrequently asked questions
How much will I actually receive on a ₹2 lakh loan?
If the lender charges a processing fee, it is often deducted (with GST) before disbursal, so the amount credited can be a little less than the sanctioned amount. The Key Fact Statement shows the net disbursed amount and the APR before you accept.
Why do fewer lenders offer larger amounts?
Each lender lists its own maximum. Some focus on smaller loans, so the number of options can drop as the amount rises. This page shows how many lenders list ₹2 lakh today.
Can I use a ₹2 lakh personal loan for a wedding or home repairs?
Personal loans are generally for personal needs such as these. Check the loan agreement for any purpose the lender does not allow.