Complete Manual to Securing a ₹2,00,000 Personal Loan

What is a ₹2,00,000 Personal Loan?

Personal loans up to ₹2,00,000 are unsecured loans—no collateral is required. They can be used for medical expenses, weddings, or small business ventures. With Bankstore, you can get funds within 24 hours.

within hours. Because the money can be applied towards nearly anything, the loan serves as a versatile financial tool.
Apply for Loan

Eligibility Criteria for Flexi Personal Loan

Check if you meet the simple eligibility criteria to get your loan approved:

Age Criteria

Age Requirement

Applicants must be between 21 to 60 years old.

Age Criteria

Credit Score

650+ (700+ preferred)

Age Criteria

Monthly Income

Minimum ₹ ₹25,000/-(Salary in Account)

Age Criteria

Nationality

Must be an Indian citizen

Age Criteria

Employment Type

Salaried and self-employed both eligible

Documents Needed

  • Identity Proof: Aadhaar, PAN, Passport, Voter ID
  • Address Proof: Utility bill, rental agreement, bank statement
  • Income Proof: Salary slips, bank statements, ITRs
  • Photographs: Recent passport-size photos
Docs Needed

How to Apply Online

  1. Verify Eligibility using Bankstore’s calculator
  2. Collect & digitize documents
  3. Compare lenders on Bankstore
  4. Submit application online
  5. Receive funds within 24 hours
 

Interest Rates

₹
 
%
 
Months
 

Your EMI Details

Loan EMI

₹ 0.00

Total Interest Payable

₹ 0.00

Total Payment

₹ 0.00
 
Principal Amount Interest Amount

Shorter tenures save interest but raise EMIs, while longer tenures lower EMIs but increase total interest. Use Bankstore’s EMI calculator to choose the best tenure for your budget.

Compare Lenders

  • Check interest rates
  • Look for hidden fees
  • Match repayment terms to your budget
  • Read customer reviews

Tips to Get Approved Fast

  1. Maintain a credit score above 700
  2. Submit accurate application details
  3. Choose fast-track lenders via Bankstore
  4. Upload ready documents

Loan Repayment Management

Plan EMIs into your monthly budget. Avoid new debts during repayment period to ensure financial stability.

FAQs on ₹2,00,000 Personal Loan Details

You can cover medical emergencies, home improvements, school fees, weddings, or launch a small business. Bankstore offers flexible options for your needs.
Pre-approved customers may receive funds within 24 hours, while others might get disbursement in a few hours.
Rates typically range from 10.5% to 24% annually, depending on income and credit score.
At 12% p.a. for 5 years, the EMI is approximately ₹4,450. Use Bankstore.in’s EMI calculator for a custom estimate.
Yes, though interest rates may be higher. Some lenders accept scores as low as 650.
Processing fees usually range from 1% to 3% (₹2,000 to ₹6,000). Bankstore provides full cost transparency.
You’ll need 2 years of ITRs, business bank statements, ID proof, and address proof.

No, it’s an unsecured loan, so no collateral like property or gold is required.

Missing an EMI can result in late fees (₹500–₹2,000) and a significant drop in your credit score.

Yes, many lenders allow early repayment, though some may charge a 2–4% penalty. Check terms on Bankstore.in.

About Us

BankStore is a trusted financial platform offering secure, fast, and flexible loan solutions for personal, business, home, education, and vehicle loans, ensuring a seamless and hassle-free borrowing experience Read more

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