Instant ₹2 Lakh Personal Loan Online
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.
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?
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 Freo 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
Paying for Vacation
Home Renovation
Medical Expenses
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 Freo ₹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 Freo-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
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:
Required Documents
Pan Card Number
Professional Selfie
To be taken on the Freo 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 Freo 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.
