Apply for a ₹20,00,000 Personal Loan with Bankstore
Bankstore is a great option for both self-employed people and salaried workers because it offers a ₹20,00,000 personal loan with no collateral requirements. This loan gives you the flexibility to reach your objectives without depleting your savings, whether you need money for a lavish wedding, urgent medical bills, home improvements, education, or business expansion.
What is a ₹20,00,000 Personal Loan?
A ₹20,00,000 personal loan is an unsecured loan i.e. you are not required to pledge any assets. It is perfect for major life events and expenses with flexible tenure and no usage restrictions.
Eligibility Criteria
- Age: 21–60 years
- Income: ₹15,000+ monthly (salaried); consistent income (self-employed)
- Credit Score: 750+ preferred
- Employment: 2+ years in job or 3+ years in business
- Residency: Indian national with valid documents
Documents Required
- Identity Proof: PAN, Aadhaar, Passport, or Voter ID
- Address Proof: Utility bill, lease, or bank statement
- Income Proof: ITR (3 yrs for self-employed); Pay slips & bank statements (salaried)
- Photographs: Passport-sized
How to Apply Online
- Check Eligibility using Bankstore’s calculator
- Prepare digital documents
- Compare offers
- Apply & upload
- Get funds in 24 hours
EMI Calculation for ₹20,00,000 at 12% p.a.
| Tenure (years) | EMI (₹) | Total Interest (₹) | Total Repayment (₹) |
|---|---|---|---|
| 1 | 1,78,000 | 2,16,000 | 22,16,000 |
| 3 | 66,480 | 3,93,280 | 23,93,280 |
| 5 | 44,500 | 6,70,000 | 26,70,000 |
Benefits
- No Collateral
- Flexible Usage
- Fast Disbursal
- Fixed EMIs
- Credit Growth
Loan Insurance
Optional coverage costs 1-2% of loan amount. Protects against job loss or disability. Choose from Bankstore’s partnered insurers.
Wise Loan Management
- Keep credit score above 750
- Compare rates & fees
- Pay on time to avoid penalties
- Automate EMIs
Eligibility Criteria for Flexi Personal Loan
Check if you meet the simple eligibility criteria to get your loan approved:
Age Requirement
21–65 year
Income Proof
ITRs or audited statements for 2–3 years, plus business bank statements
Business Vintage
At least 2–3 years of continuous operationn
Credit Score
700+ recommended
Banking Relationship
Active account with regular transactions
Interest Rates and Repayment Options
Your EMI Details
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Total Payment