20000 Personal Loan

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.


How to Apply for a 20000 Loan Online?

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.

Moneyview Loan

Top Instant 20000 Personal Loan Providers Online

Below is the list of Interest Rates for Rs. 20,000 Personal Loans offered by different lenders in India:

BanksStarting Interest Rates 
Navi 9.9% p.a. onwards
Faircent12% - 28% p.a.
PaySense1.4% - 2.3% p.m.
KreditBee1.02% p.m. onwards
IIFL12.75% - 33.75% p.a.
CASHe2.50% p.m. onwards
Fibe (EearlySalary)Rs. 9/day - 30% p.a.
FlexSalary18% - 54% p.a.
Money View16% p.a. onwards
MoneyTap13% p.a. onwards
Prefr 18% - 36% p.a.
Loanbaba0.1%/day onwards
StashFin11.99% - 59.99% p.a.

Features and Benefits of Instant Loan of ₹ 20,000

  • All the documents have to be uploaded online, making the entire transaction paperless. 
  • If you are a pre-approved customer, you can get a 20 000 loan without documents or minimal documents. 
  • Some lenders have options of PAN card loan 20 000 or 20 000 loan on Aadhar card.
  • An instant personal loan is an unsecured personal loan for which you will not have to submit any collateral or security.
  • These short-term loans are usually offered by online lenders like CASHe, EarlySalary, KreditBee, Paytm loan 20 000, etc.
  • In an instant personal loan, funds are disbursed to your account promptly.
  • The processing time for these loans is significantly lesser than that for regular loans.
  • In most cases, you can get a flexible loan tenure for repayment of instant loans. Thus, you can choose a tenure as per your convenience and budget, subject to the lender’s maximum loan repayment tenure.
  • If you are looking for a personal loan for salary less than 20000, instant loans are the best choice.
  • People applying for an instant personal loan can get a loan amount of their choice, subject to the loan amount policy of the lender.
  • These loans are usually offered at affordable interest rates, helping you keep the overall cost of the loan low.

Eligibility Criteria for 20000 Personal Loan 

To get 20000 instant loan, you have to meet the following basic eligibility criteria: 

  • Age: Individuals aged above 21 years and less than 60 years can apply for a personal loan of Rs. 20,000.
  • Occupation: Most lenders offer 20000 salary personal loans for salaried individuals only because their income is more stable. However, there are some lenders that offer 20,000 loans for unemployed and self-employed individuals as well.
  • Income: The minimum monthly salary requirement for salaried employees is generally Rs. 13,,500. Self-employed individuals need to show an annual income of Rs. 5 Lakhs or above to be eligible for a personal loan.
  • Credit score: The credit score of an individual determines their loan repayment eligibility and helps lenders in deciding on their personal loan. Usually, lenders prefer a minimum credit score of around 750 or above. However, some loan providers approve loan application with a credit score of 700 or above. The higher your credit score, the brighter your chances of getting loan approval.

NOTE: The above eligibility factors for a Rs. 20,000 personal loan, such as age, income, and credit score, may vary from lender to lender.

Best Banks for 20000 Personal Loan Quickly

Below are the best banks to get an instant loan of 20000 in India: 

Navi Personal Loan

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:

  • 100% paperless process with minimal documents.
  • Instant disbursal of funds.
  • Loans from Rs. 10,000 up to Rs. 20 Lakhs.
  • Interest rates starting from just 9.9% p.a.
  • Loan tenure up to 72 months.
  • Nil loan pre-closure fee.

Faircent Personal Loan

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:

  • Loan available for personal as well as business needs.
  • Loan amount available between Rs. 10,000 to Rs. 10 Lakhs.
  • Interest rate ranges from 12% p.a. to 28% per annum.
  • Loan repayment tenure is between 6 months to 36 months.
  • A one-time registration charge of Rs. 500 will be applicable to process, verify and list your personal loan request on Faircent’s P2P lending platform.
  • There are no intermediary costs and margins involved, leading to the lowest rates.
  • Borrow directly from trusted lenders.
  • Facility of accepting, rejecting or countering proposals to get the most suitable rate.
  • Get funds within hours after your loan is listed.

PaySense Personal Loan

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:

  • Get a loan amount anywhere between Rs. 5,000 to Rs. 5 Lakhs. 
  • Interest rate of 1.4% - 2.3% per month applicable, making your EMIs affordable.
  • Minimal documentation is required.
  • Instant processing and quick disbursal.
  • Easy to manage EMI plans that come with reminders and auto-debit features. 
  • Just upload the pictures of your KYC documents and sign your loan application digitally to get the loan.
  • Loans without any credit history.

KreditBee Personal Loan

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:

  • Personal loan amount ranges from Rs. 1,000 to Rs. 3 Lakhs.
  • Tenure up to 3 years.
  • Customised loans to borrowers in Mumbai and Delhi based on their creditworthiness. 
  • The loans by KreditBee are not dependent on the borrower’s credit score and other traditional channels of credit rating.
  • The rate of interest is competitive and starts at 1.02% per month onwards.
  • The processing fee is 2% of the disbursed loan amount.
  • Hassle-free fast processing from your mobile or laptop.

IIFL Personal Loan

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:

  • Personal loan amount ranging from Rs. 5,000 to Rs. 5,00,000. 
  • Rate of interest between 12.75% and 33.75% p.a., charged on reducing balance method. 
  • Tenure ranges from 3 months to 42 months.
  • Processing fee varies between 2% to 4%, subject to a minimum of Rs. 750.
  • An additional convenience fee of Rs. 500 is charged.
  • The funds can be used for all expenses, including domestic or international vacations, weddings, pursuing higher education, buying the latest gadget, purchasing a vehicle or even home renovation. 

CASHe Personal Loan

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:

  • The minimum amount is Rs. 1,000 and the maximum of Rs. 4 Lakhs. 
  • Repayment tenure can be 3, 6, 9, 12 or 18 months. 
  • The interest rate starts from 2.50% per month.
  • Processing fee of Rs. 500 to Rs. 1,200 is charged, depending on the loan amount and tenure.
  • The process is quick and takes only 15 to 20 minutes.
  • CASHe personal loans can be availed of through a smartphone application that offers 100% online application and quick disbursal.

Fibe Personal Loan

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:

  • Loan amount available of Rs. 5,000 to Rs. 5 Lakhs, based on your eligibility criteria and the loan type to be availed of.
  • Competitive rates of interest starting from just Rs. 9/day and up to 30% per annum, depending on your creditworthiness.
  • EarlySalary Short Term Loan can be repaid in flexible repayment tenure of up to 24 months, based on the type of scheme.
  • The processing fees vary between Rs. 199 to Rs. 4,000, based on the loan amount.
  • If you refer friends, you get assured gift coupons worth Rs. 5,555 and above when your friends sign up on the EarlySalary app.

FlexSalary Personal Loan

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:

  • Borrow up to a credit limit of Rs. 2,00,000 starting from just Rs. 4,000.
  • Pay off your dues anytime within 3 to 36 months of flexible tenure with this instant credit app. 
  • Interest rate ranges from 18% to 54% p.a.
  • One-time processing fee of up to Rs.1,250 (including GST) will be applicable only at the time of first withdrawal.
  • Zero late payment fee, bounce cheque fee and prepayment penalty.

Money View Personal Loan

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:

  • Loan amount ranges from Rs. 5,000 to Rs. 5 Lakhs.
  • The entire process is paperless and online, from documentation to verification.
  • Attractive interest rate starting from 1.33% per month (16% per annum).
  • Repay in flexible repayment tenure of 3 months to 60 months.
  • Money View assures a 100% paperless application process.
  • Get an instant loan in just 24 hours.
  • Check eligibility online in just 2 minutes by providing some basic details. 

MoneyTap Personal Loan

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:

  • MoneyTap Personal Loan can be used for travel, wedding, debt consolidation, education expenses, medical expenses, and so on. 
  • The minimum loan quantum is Rs. 3,000 and can go up to a maximum of Rs. 5 Lakhs, depending on the income and repayment capacity of the borrower.
  • The interest rate is to be paid only on the amount utilised and starts from just 1.08% per month or 13% per annum.
  • Repayment tenure for the loan ranges from 2 months to 36 months.
  • The CIBIL score of the applicant should be 700 or more to avail of the loan. 
  • Prefr Personal Loan

Prefr Personal Loan

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:

  • The loan amount varies from Rs. 10,000 to Rs. 3,00,000.
  • Prefr loan interest rates range from 18% to 36% p.a.
  • A processing fee of 3% to 5% of the sanctioned loan amount is charged, subject to a minimum of Rs. 1,500 + GST.
  • Term loan for self-employed comes with flexible tenure ranging from 6 to 36 months.
  • Personal loan for salaried comes with tenure ranging from 6 to 18 months.
  • No CIBIL score is required to get the loan. 
  • Loan approval in just one minute flat on providing all the necessary details.
  • Money is usually disbursed within 2 hours to your bank account after successful document verification.

Loanbaba Small Cash Loan

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:

  • The loan amount available between Rs. 10,000 to Rs. 1 Lakh. 
  • Loanbaba small cash loan is offered to salaried individuals only. However, some banks and NBFCs may provide personal loans to self-employed professionals, firms, and enterprises.
  • These loans are collateral-free. 
  • The Loanbaba app offers personal loan interest rates starting from just 0.1% per day.
  • The repayment tenure is flexible and varies between 3 to 9 months. 
  • The loan is disbursed the same day of the loan application/approval. In fact, sometimes the funds get disbursed within 2 hours. 
  • Zero prepayment and pre-closure charges involved.

StashFin Personal Loan

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:

  • StashFin offers personal loan amount up to Rs. 5 Lakhs.
  • The borrowed loan amount can be repaid in 3 months to 3 years. 
  • StashFin loans can be paid through EMIs via electronic payment. 
  • StashFin personal loan interest rates range from 11.99% to 59.99% APR (Annual Percentage Rate), depending on case to case. 
  • StashFin charges a processing fee between 0% to 10% plus applicable GST on each loan. 
  • Every time you load your StashFin Card through the StashFin App, you will be required to pay a processing fee on the withdrawn amount.

20000 Personal Loan FAQs

How to get 20,000 rupees loan immediately?


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.

Which bank provides Rs. 20000 loan?


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.

What CIBIL score is needed for a ₹ 20K loan?


To get Rs. 20K loan, you should have a CIBIL score of 750 or above.