Can We Take Two Personal Loans at a Time? Things You Must Know
Jul 30, 2026 | 4 mins read
When you need Personal Loan in Nagpur right away, turn to our instant Personal Loans in Nagpur offering up to ₹ 30 Lakh* with interest rates starting at 11%* p.a and a repayment tenure of up to 72 months. Our fully digitised application lets you submit the form, get approval within 2 minutes*, and access funds swiftly, whether for medical emergencies, travel, home renovation or debt consolidation.
Our EMI calculator for Personal Loan empowers you to plan monthly instalments. Enter your desired loan amount, interest rate and tenure to instantly view EMIs and total interest payable. This helps you compare scenarios and choose the most affordable repayment plan before you hit the Apply Now button.
Estimate your EMIs in a few simple steps
Preferred loan amount
Interest rate (per annum)
Loan tenure (months)
Estimated EMI
per monthInterest payable
₹52,41, 690Apply for Personal Loan with these steps
1. Apply online in just few minutes
Select Personal Loan and click the 'Apply Now' button to start your seamless digital loan journey
2. Fill in your details
Enter your personal details, such as income details, current address, and more, to instantly check your loan eligibility
3. Get your customised offer
Explore personalised loan offers to match your needs. You may also get an options to enhance your offer
4. Set up E-mandate
Securely provide your bank details to easily register for an E-mandate, ensuring smooth loan repayments
5. Complete KYC
Verify your identity easily and securely with a quick KYC process from the comfort of your home
6. Get loan disbursement
Get your loan disbursement directly in your bank account, ensuring fast and seamless access to funds
To apply for a personal loan in Nagpur, ensure you meet the personal loan eligibility criteria. At L&T Finance, these criteria are straightforward and easy to fulfil.
| Type | Criteria |
|---|---|
| Residency | Indian resident |
| Age requirement | 21 years to 58 years |
| Profession | Salaried or self-employed individuals |
The documentation requirements vary for salaried and self-employed applicants. It’s important to organize all necessary personal loan documents in advance to ensure a smooth and hassle-free application process.
| Document Type | Required Document & Checks |
|---|---|
| Identity Proof | Passport | PAN Card | Driver License | Voter ID | Aadhaar Card |
| Address Proof | Utility bill of any service provider not more than 2 months old (Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill) | Passport | Voter ID Card | Driving License |
| Income Proof | Income proofs vary for different professionals across salaried and self-employed. |
Please find the easy detailed list of required documents here
| Type | Document |
|---|---|
| Salaried | Last 3 month's salary slips / Form 16 / Last 3 month's bank statement reflecting salary credits / Salary Certificate |
| Self Employed | Latest Income Tax Return (ITR) |
| Bank Statement | Last 3 month's statement is mandatory |
| Residence Ownership Proof | Not mandatory |
Apart from the Personal Loan Interest Rates in Nagpur, it’s important to be aware of the additional fees and charges before applying. Being informed in advance will help you stay prepared and avoid any unexpected costs later.
| Type | Interest Rate and Charges |
|---|---|
| Interest Rate | Starting at 11%* p.a |
| Loan Processing Fees (non-refundable): | Upto 4%* of Loan Amount + applicable taxes |
| EMI Dishonour/Bounce Charge* *A bounce charge is a charge for (i) dishonour of any repayment instrument; or (ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate | As shown in the table below |
| Sanctioned Loan Amount | Charges |
| < ₹ 5 Lakh | ₹ 500 |
| ₹ 5 Lakh - ₹ 30 Lakh | ₹ 1000 |
| Late Payment Charges (LPC)/ Penal Charges: | 2% (p.m.) on EMI overdue + applicable taxes |
| *LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec'23 | |
| *Taxes applicable on LPC w.e.f. 1st Apr'24 | |
| Part Payment Charges: | Up to 5% of pre-paid amount + applicable taxes |
| Foreclosure Charges: | 5% of POS (Principal Outstanding) + applicable taxes( As per the latest NBFC Master Circulars ) |
| Legal/ Recovery Charges: | As per actuals |
| Duplicate NOC Charges: | First 3 paper copies - free of cost |
| From 4th Paper copy - ₹250 + applicable taxes | |
| Repayment Swap charges (per swap): | ₹500 + applicable taxes (applicable only for branch walk-ins) |
| Loan Cancellation Charge: | Nil - for 3 days from date of disbursal |
| From 4th day - 5%+ applicable taxes (on the outstanding loan amount) | |
| Document Charges: | Nil for Statement of Account (SOA), Repayment Schedule, Foreclosure Letter, Welcome Kit |
| Annual Maintainance Charges (AMC): | Nil |
*Terms & Conditions Apply. All actual charges, including the Annual Percentage Rate (APR), will be as per the Key Fact Statement (KFS) shared by the company, which we strongly advise you to read thoroughly before committing.
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