Here’s an easy step-by-step guide to help you get a 20 lakh loan in just 3 days."

Step 1: Know Your Loan Type

The first step is identifying what kind of loan best suits your needs. Here are the most common types:

    • Personal Loan: Unsecured, quick, and flexible. Ideal for urgent needs.
    • Business Loan: For business-related expenses or expansions.
    • Home Loan Top-Up: If you already have a home loan, top-ups are quick and low-interest.
    • Loan Against Property (LAP): High-value secured loan with lower interest rates.

    For the purpose of speed, personal loans and digital business loans are typically the fastest to process.

    Step 2: Check Eligibility Criteria

    Lenders look for these basic eligibility factors:

      • Age: 21–60 years (may vary by lender)
      • Income: ₹25,000+ per month (depends on city and lender)
      • Employment: Salaried or self-employed with stable income
      • Credit Score: 700 or above preferred

      A good credit score (CIBIL or Experian) and stable income significantly boost your chances of approval.

      Step 3: Prepare Key Documents in Advance

      Having all documents ready can speed up approval drastically. Here’s what you’ll typically need:

        ID Proof: Aadhaar card, PAN card, Passport

          Address Proof: Utility bill, rental agreement, or Aadhaar

            Income Proof:

              • Salaried: Last 3 months’ salary slips + bank statements
              • Self-employed: Last 2-3 years ITR, bank statements

              Business Proof (for business loans): GST certificate, trade license, etc.

              Some digital lenders require only basic KYC and bank statements.

              Step 4: Apply Online Through Instant Loan Platforms

              To get a ₹20 lakh loan within 3 days, go digital. Traditional banks may take 5–10 days, while NBFCs and fintech platforms offer near-instant approvals.

              Here are a few fast and reliable options:

                • Banks: HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra
                • NBFCs: Bajaj Finserv, Tata Capital, Indiabulls
                • Fintech Apps: Navi, MoneyTap, KreditBee, PaySense, EarlySalary

                Compare interest rates (typically 10.5% to 24%), processing fees, and prepayment terms before applying.

                Step 5: Use a Loan Aggregator for Instant Comparison

                Instead of visiting individual lender websites, use aggregators like:

                  • BankBazaar
                  • PaisaBazaar
                  • IndiaLends
                  • Cred

                  These platforms let you check your eligibility with multiple lenders at once, increasing your chances of approval and saving time.

                  Step 6: Opt for Pre-approved Loans

                  If you’re an existing customer of a bank, check if you’re eligible for a pre-approved personal loan. These loans are:

                    • Already approved based on your credit profile
                    • Require minimal documentation
                    • Often disbursed within 24–48 hours

                    You can usually check for these offers via your bank’s net banking portal or mobile app.

                    Step 7: Ensure Fast Disbursement

                    Once approved, choose to receive the amount via instant credit to your account. Many lenders now use e-mandate, e-KYC, and e-signature to cut paperwork and speed up disbursement.

                    To avoid delays:

                      • Submit accurate and matching details
                      • Keep your mobile number and email active
                      • Respond quickly to any verification calls

                      Final Thoughts

                      Getting a ₹20 lakh loan in 3 days is no longer a distant dream, thanks to technology and digital banking. If you have a good credit profile, stable income, and proper documentation, you can get the loan amount credited to your account within hours—especially through online channels.