Get an Instant ₹2 Lakh Personal Loan Online from MoneyTap

There are a few reasons why you may need a ₹2 Lakh loan. Maybe you have a large medical bill that you need to pay off. Perhaps you need to make a significant purchase, such as a new car or a new home. Whatever the reason, if you need such an amount in loan easily and quickly, you should definitely consider MoneyTap’s personal line of credit.

MoneyTap makes it super convenient for you to borrow any amount from your approved credit line. You can be approved for up to ₹ 5 Lakh, so you can easily get a ₹2 Lakh personal loan from that when needed.

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Why Do You Need a ₹2 Lakh Personal Loan?

We all know that feeling when our bank account is running low, and our credit card bills are piling up. A personal loan can be a lifesaver in these situations. But what if you need a personal loan for a bigger purchase?

A ₹2 Lakh personal loan can help you cover some of life’s bigger expenses. Here are 8 reasons why you might need a ₹2 Lakh personal loan:

Debt Consolidating

Education

Business

Down Payment for Another Loan

Wedding Expenses

Paying for Vacation

Home Renovation

Medical Expenses

Debt Consolidating

If you have multiple debts with high-interest rates, a ₹2 Lakh personal loan can help you consolidate your debts into one monthly payment. This can save you money on interest and help you get out of debt faster.

Education

Whether you're looking to further your education or send your children to college, a ₹2 Lakh personal loan can help you cover the cost of your education and extra expenses such as hostel accommodation.

Business

If you're starting a business, a personal loan from MoneyTap can act like a ₹2 Lakh business loan and help you cover the costs of start-up expenses.

Down Payment for Another Loan

If you're taking out a mortgage or another loan, a personal loan up to ₹2 Lakh can help you cover the down payment.

Wedding Expenses

An instant ₹2 Lakh personal loan can help you cover the out-of-budget costs from the wedding dress to the wedding venue.

Paying for Vacation

If you're looking to take a dream vacation but don't have the savings to cover it, a 2 Lakh rupees personal loan can help you out.

Home Renovation

If you're looking to remodel your home, a personal loan of ₹2 Lakh can help you fill the gaps in your home renovation budget.

Medical Expenses

If you have unexpected medical expenses, an instant ₹2 Lakh loan can save you from the resulting financial crisis.

If you're facing any of these expenses, a personal loan of ₹2 Lakh can bail you out. With a personal loan, you can get the money you need without putting your credit card into debt.

Features and Benefits of Instant Loan of MoneyTap’s ₹2 Lakh

Quick Approval

You get instant online loan approval within 4 minutes & that too by submitting minimal documentation.
Flexible Borrowing

You can borrow even as little as ₹3,000 from the credit limit approved. You can do that numerous times whenever you need funds.
Lucrative Rate of Interest

The interest rates start from 1.08% per month, which you only need to pay on the amount you borrow from your approved credit limit or line of credit.
Also Works Like a Credit Card

Use a complimentary MoneyTap-RBL Credit Card* for online & offline purchases. (*Valid only for RBL-approved customers) and enjoy the benefits of a credit card.
Easy Repayments

Choose a repayment schedule which is financially convenient to you – Anywhere between 2-36 months.
Online Hassle-free Transactions

Manage your transactions and account from anywhere in the world through the easy-to-use mobile app.

Process to Apply for a ₹2 Lakh Personal Loan

Download MoneyTap App & register

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

KYC documentation

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Transfer Money to your Bank

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Eligibility Criteria

Profession – Salaried or Self-Employed
Age – Above 21 years and below 60 years
Minimum Monthly Income – ₹ 20,000
Work Experience – 3 years and above
Credit Score – 650 and above
Must be a resident of one of the following cities:
View city list

Required Documents

Pan Card Number
Professional Selfie
(To be taken on the MoneyTap App)
Address Proof
(Valid Driving License / Valid Passport / Aadhar Card)
ID Proof
(Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card)

Interest Rates for a ₹2 Lakh Personal Loan

If you are looking for a personal loan, the interest rate is something that you are probably most interested in. The good news is that MoneyTap offers some of the most competitive interest rates in the market. Depending on your credit score and repayment capacity, you can get an interest rate as low as 13% per annum.

Once your loan is approved, you will be able to see the interest rate that is being offered to you. In addition, you will also be able to see the monthly EMI you will need to make to repay the loan.

MoneyTap approves personal loans of up to ₹ 5 Lakh in the form of a personal line of credit. If you need only ₹ 50,000, you can withdraw that amount and repay it in easy EMIs.

The interest only applies to the amount you borrowed, not the entire credit limit. So, if you don’t use the rest of the credit limit, you will not be charged any interest.

Personal Loan EMI Calculator

Loan Amount :

₹

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25L |
50L |
75L |
100L |
125L |
150L |
175L |
200L

Interest Rate :

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5 |
7.5 |
10 |
12.5 |
15 |
17.5 |
20

Tenure :

Yr %

Months

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0 |
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30

EMI Scheme

EMI in Advance EMI in Arrears

₹24,959

Loan EMI

₹34,90,279

Total Interest Payable

₹59,90,279

Total Payment (Principal + Interest)

Someone like you is happy with MoneyTap

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But MoneyTap credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Navjyoti

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

N Cavin Misao

Get the app for a seamless application process

Get it on playstore

Get it on appstore

With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.

Apply now

Our journey so far

5 years and counting as India’s 1st app based Credit Line

1.1M

Happy faces
252K

Loans disbursed
5

Years of service
10M+

Downloads

Different Ways to Use MoneyTap Personal Loan 2.0

MoneyTap's Personal Loan is
Now Available Across India

FAQs

I need ₹2 Lakh loan urgently. How can I get it?

It is simple to get a ₹2 Lakh loan from MoneyTap. Download the app – Apply for a loan – Get instant approval. Use whatever amount you need from your approved credit limit for whatever purpose and anytime you need.

Can I get ₹2 Lakh loan without income proof?

It is not possible to get a personal loan without submitting income proof. You need to show your bank statement and other proof of your regular income.

How do I calculate my ₹2 Lakh personal loan EMI?

The EMI depends on 3 major factors – Interest rate, loan tenure, and loan amount. You can use MoneyTap’s personal loan EMI calculator to calculate the EMI of your personal loan of ₹2 Lakh.

Can I get ₹2 Lakh loan without documents?

No. You can’t get any loan without documentation. However, MoneyTap offers a hassle-free documentation process. You don’t need to submit photocopies of numerous documents to get credit from MoneyTap. Our documentation requirement is minimal and convenient.

What is the interest rate charged on ₹2 Lakh personal loan by MoneyTap?

The interest rate range of MoneyTap’s ₹2 Lakh personal loan starts from 1.08% per month. The exact interest rate depends upon your credit profile, income, and other crucial factors.

Can those with low CIBIL scores get a ₹2 Lakh personal loan from MoneyTap?

You can get a personal loan up to ₹2 Lakh even if you have no/low credit score, provided you have a stable income. The banks may ask you for security if you apply for a personal loan with a low credit score in a bank.

Am I eligible for MoneyTap's ₹2 Lakh loan?

You can get MoneyTap’s ₹2 Lakh loan if you have a regular income of a minimum ₹ 20,000 and a good credit profile. You can be either a salaried or self-employed professional.

How long does it take to get approved for a ₹2 Lakh loan from MoneyTap?

You can get approval for ₹2 Lakh loan from MoneyTap within minutes. The loan amount comes into your account a few days after final verification.

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Quick Links

Reach Us

Download the app

Get it on playstore

Get it on appstore

Why Do You Need a ₹2 Lakh Personal Loan?

Debt Consolidating

Education

Business

Down Payment for Another Loan

Wedding Expenses

Paying for Vacation

Home Renovation

Medical Expenses

Debt Consolidating

Education

Business

Down Payment for Another Loan

Wedding Expenses

Paying for Vacation

Home Renovation

Medical Expenses

Features and Benefits of Instant Loan of MoneyTap’s ₹2 Lakh

Quick Approval

Flexible Borrowing

Lucrative Rate of Interest

Also Works Like a Credit Card

Easy Repayments

Online Hassle-free Transactions

Process to Apply for a ₹2 Lakh Personal Loan

Step 1

Step 2

Step 3

Download MoneyTap App & register

KYC documentation

Transfer Money to your Bank

1 Step 1 Download MoneyTap App & register

2 Step 2 KYC documentation

3 Step 3 Transfer Money to your Bank

Eligibility Criteria

Required Documents

Interest Rates for a ₹2 Lakh Personal Loan

Loan EMI

Total Interest Payable

Total Payment (Principal + Interest)

Someone like you is happy with MoneyTap

Navjyoti

Navjyoti

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

N Cavin Misao

Get the app for a seamless application process

Our journey so far

1.1M

252K

5

10M+

Different Ways to Use MoneyTap Personal Loan 2.0

Marriage Loan

Travel Loan

Medical Loan

Education Loan

Used Car Loan

Two-Wheeler Loan

Laptop Loan

Mobile Loan

Home Renovation Loan

Consumer Durable Loan

Debt Consolidation Loan

Used Two-Wheeler Loan

MoneyTap's Personal Loan is Now Available Across India

FAQs

Find our social channels

Quick Links

Reach Us

Download the app

MoneyTap's Personal Loan is
Now Available Across India