When you’re planning to borrow money, knowing your Equated Monthly Installment (EMI) is crucial. If you’re thinking of taking a loan of ₹2 lakhs, one of the first questions on your mind is likely: “How much EMI will I have to pay for a ₹2 lakh loan?”
In this guide, we’ll break down everything you need to know about EMIs on a ₹2 lakh loan, including interest rates, tenure options, and how Paisa Loans can help you get quick, affordable funding.
💡 What is an EMI?
EMI stands for Equated Monthly Installment. It is the fixed amount you pay each month to repay your loan, which includes both the principal and interest.
The EMI depends on three factors:
Loan Amount (Principal) – In this case, ₹2,00,000
Interest Rate – Can range between 11% to 24% per annum
Tenure – The repayment period (usually between 12 to 60 months)
🧮 How Much EMI for ₹2 Lakh Loan?
Here’s a sample EMI breakdown based on different tenures and an average interest rate of 13% per annum:
| Tenure | Approx. EMI | Total Interest | Total Repayment |
|---|---|---|---|
| 12 months | ₹17,900 | ₹14,800 | ₹2,14,800 |
| 24 months | ₹9,500 | ₹28,000 | ₹2,28,000 |
| 36 months | ₹6,750 | ₹43,000 | ₹2,43,000 |
| 48 months | ₹5,550 | ₹66,400 | ₹2,66,400 |
| 60 months | ₹4,600 | ₹76,000 | ₹2,76,000 |
Note: These are approximate EMIs. The final EMI depends on your lender, credit score, and other eligibility criteria.
🚀 How Paisa Loans Helps You Get a ₹2 Lakh Loan Easily
Getting a personal loan for ₹2 lakhs is now quick and hassle-free with Paisa Loans. Here’s why it’s the preferred choice:
✅ Quick Online Application
Apply in minutes from your phone or computer—no paperwork, no queues.
✅ Instant Eligibility Check
Get instant approval based on your credit score and income.
✅ Flexible Repayment Options
Choose a repayment tenure from 12 to 60 months based on your comfort.
✅ Transparent Charges
All interest rates and fees are clearly mentioned—no hidden costs.
✅ 100% Secure
Data privacy is our top priority, and all applications are fully encrypted.
📝 Documents Required for a ₹2 Lakh Loan
Paisa Loans keeps the process simple. Here’s what you need:
Aadhaar Card
PAN Card
Salary slips or income proof
Bank statements (last 3-6 months)
💳 Eligibility for ₹2 Lakh Personal Loan
To apply for a ₹2 lakh personal loan through Paisa Loans, you must:
Be 21 to 58 years old
Be salaried or self-employed
Have a minimum monthly income of ₹15,000
Maintain a decent credit history or bank transaction record
🧠 Tips to Choose the Right EMI Plan
Here’s how to make the smartest choice:
1. Don’t Overstretch Your Budget
Choose an EMI you can easily afford every month without impacting your lifestyle.
2. Pick the Right Tenure
Longer tenure means lower EMI, but more interest overall. Choose wisely based on your income stability.
3. Check Total Cost of Loan
Always look beyond EMI—consider total interest and other charges.
🎯 Final Thoughts
A ₹2 lakh loan can be a helpful financial tool for medical expenses, weddings, education, or travel. But understanding how much EMI you’ll pay each month is key to managing your finances wisely.
With Paisa Loans, getting ₹2 lakhs is fast, simple, and safe. Use the platform’s EMI calculator, choose the best plan for you, and get funds disbursed in no time.
👉 Need ₹2 Lakhs fast? Apply now at PaisaLoans.in and get the money in your account quickly!