A financial exigency, like a medical emergency, a wedding, a foreign journey, or any unplanned expense can occur anytime in life. In situations like these, you might need immediate funds from external sources to meet your financial needs. One such popular and instant credit facility is a 20000 personal loan. To obtain a short-term 20000 loan, you don’t even need an extensive list of documents and fulfil strict criteria.
If you want to get a 20000 loan urgently, you can apply for the loan online. Various digital lenders offer the facility to apply for 20000 instant loan online. While you have to visit the branch to apply for a loan offline or apply through the DSAs, the online process is simple. You just need to access the Personal Loan section on our website and follow the given instructions to understand how to get an instant 20000 loan without documents immediately. The process starts with understanding your personal loan eligibility.
Below is the list of instant 20000 loan providers in India:
|Banks||Starting Interest Rates|
|Navi||9.9% p.a. onwards|
|Faircent||12% - 28% p.a.|
|PaySense||1.4% - 2.3% p.m.|
|KreditBee||1.02% p.m. onwards|
|IIFL||12.75% - 33.75% p.a.|
|CASHe||2.50% p.m. onwards|
|Fibe (EearlySalary)||Rs. 9/day - 30% p.a.|
|FlexSalary||18% - 54% p.a.|
|Money View||16% p.a. onwards|
|MoneyTap||13% p.a. onwards|
|Prefr||18% - 36% p.a.|
|StashFin||11.99% - 59.99% p.a.|
To get 20000 instant loan, you have to meet the following basic eligibility criteria:
NOTE: The above eligibility factors for an Rs. 20,000 personal loan, such as age, income, and credit score, may vary from lender to lender.
Below are the best banks to get an instant loan of 20000 in India:
With Navi, you can get an instant cash loan up to Rs. 20 Lakhs in a 100% paperless manner. The process does not involve any heavy paperwork or documentation. You just have to download the Navi app on your mobile, apply for the loan and get quick cash within a few minutes.
Key Features of Navi:
Faircent offers loan amounts between Rs. 10,000 to Rs. 10 Lakhs instantly. The loan can be obtained for personal as well as business-related financial requirements.
Key Features of Faircent:
PaySense helps you meet all your needs with its instant short-term personal loans ranging from Rs. 5,000 to Rs. 5 Lakhs through an easy-to-use app. PaySense personal loans are available for both salaried professionals as well as self-employed businessmen at a low-interest rate and flexible tenures.
Key Features of PaySense:
KreditBee offers quick personal loans and POS loans online of up to Rs. 3 Lakhs for 3 years at 1.02% p.m. onwards interest rate and processing charges of 2% of loan sanctioned + taxes.
Key Features of KreditBee:
IIFL Finance offers instant personal loans online with convenient lending terms that can help you solve all your financial needs quickly. You can apply for the loan wherever you are through IIFL’s website or app. IIFL Finance gets you the most lucrative EMI schemes, interest rates, and tenures.
Key Features of IIFL:
CASHe is a lending app that provides a short-term personal loan of up to Rs. 4 Lakhs without any collateral. These loans can be used for any purpose, including weddings, holidays, medical emergencies, gadgets purchase, repairs and renovations of a house, etc. CASHe Loans are offered at an interest rate starting at 2.50% p.m flexible tenure of 3 months to 1.5 years.
Key Features of CASHe:
Fibe (earlier known as EarlySalary) offers small bridge loans to eligible applicants who have exhausted their salaries to enable them to sail through until their next salary is credited. Fibe provides instant personal loans of Rs. 5,000 to Rs. 5 Lakhs for a maximum tenure of 24 months at an attractive interest rate of as low as 9/day.
Key Features of Fibe:
FlexSalary provides instant personal line of credit of up to Rs. 2 Lakhs for salaried individuals in India. The interest rate varies between 18% to 54% p.a., and the loan can be repaid in 3 to 36 months.
Key Features of FlexSalary:
Money View offers an instant digital personal loan of Rs. 5,000 to Rs. 5 Lakhs to salaried or self-employed individuals in minutes. The loan is offered at an attractive interest rate starting from just 1.33% per month (or 16% p.a.), which can be repaid in 3 to 60 months at your convenience.
Key Features of Money View:
MoneyTap offers collateral-free instant loans of up to Rs. 5 Lakhs. You can use the money for your travel plans, gadget purchase, medical emergencies, weddings, home renovation, education, and so on. MoneyTap personal loan interest rate starts from just 1.08% per month and can be repaid in EMIs for up to a period of 36 months.
Key Features of MoneyTap:
Prefr personal loan is available to salaried as well as self-employed individuals for every business and personal requirement. You can get up to Rs. 3 Lakhs as a loan amount in a completely digital process and simplified documentation.
Key Features of Prefr:
Loanbaba app provides Rs. 1 Lakh personal loan from top banks and Non-Banking Financial Companies (NBFCs) in just 30 minutes through its flagship product called Small Cash Loan.
Key Features of Loanbaba:
StashFin offers personal loans online with instant approval on a StashFin credit line card. You can borrow any amount between Rs. 1,000 to Rs. 5 Lakhs at an attractive interest rate ranging from 11.99% to 59.99% p.a. and repay in a tenure of 3 to 36 months.
Key Features of StashFin:
The best way to get a 20,000 rupees loan immediately is by applying for the loan online through our or lender’s website or mobile app. Keep your documents ready for uploading and complete the application procedure online. On approval, the loan is credited to your bank account immediately.
Short-term personal loans of Rs. 20,000 are usually offered by online lenders like Navi, Faircent, PaySense, KreditBee, IIFL, CASHe, Fibe, FlexSalary, Money View, MoneyTap, and so on.
To get Rs. 20K loan, you should have a CIBIL score of 750 or above.