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Personal Loan of Rs.3 Lakh
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Whether it’s an unexpected medical expense, a long-overdue vacation, or a home renovation project, 3 lakh personal loans are here to make it happen


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Personal Loan of Rs.3 Lakh

We understand life throws curveballs very often? However, it does not mean you have to postpone your dreams, sometimes all you need is a financial fillip to get you up. Get personal loan of Rs. 3 Lakhs and turn your dreams into reality. Don’t have to scout your way around anymore for 3 Lakhs personal loan with Fincover around to help you.

Features and Benefits of Rs. 3 Lakh Personal Loan

Swift Approval: Need cash in a hurry? Our lightning-fast approval process ensures you get the funds you require on time

Flexible Repayment Plans: Get loans that fit your lifestyle. Get flexible repayment plans from lenders to make sure you’re in control of your budget

Competitive Interest Rates: We believe in fair deals. Enjoy some of the best interest rates in the market. Get to compare rates from multiple lenders and ensure you get the loan at the most favourable term

No Hidden Charges: Transparency is our policy. We do not lend money out of our packet; we act as a distributor in tie-up with the bank/NBFCs and ensure you get the loan required. We negotiate with lenders to get you the most favourable deal

Quick Disbursal: Once approved, the money will reach your account in the shortest possible time.

Bank Interest rates for Rs.3 Lakh Personal Loan

InstitutionInterest ratesLoan amount
HDFCFrom 10.5%Upto 40 Lakhs
Axis BankFrom 10.49%`Upto 40 Lakhs
ICICI bank10.75%-19%Upto 40 Lakhs
Bank of Baroda10.75% – 18.5%Upto 5 Lakhs
SBIFrom 11%Upto 30 Lakhs
IndusIndFrom 10.49%Upto 50 Lakhs
Yes BankFrom 10.99%Upto 40 Lakhs
Standard CharteredFrom 11.5%Upto 50 lakhs
IDFCFrom 10.49%Upto 50 Lakhs
Kotak MahindraFrom 10.99%Upto 40 Lakhs
PNBFrom 11.40%Upto 20 Lakhs
Bandhan bankFrom 11.55%Upto 25 Lakhs

NBFCs Interest rates for Rs.3 Lakh Personal Loan

Institution Interest rates Loan amount
Tata Capital From 10.99% Upto 35 Lakhs
InCred From 18% Upto 3 Lakhs
Finnable From 16% Upto 10 Lakhs
PaySense From 16.8% Upto  5 Lakhs
Poonawalla From 9.99% Upto 30 Lakhs
Fullerton From 11.99% Upto 25 Lakhs
LendingKart From 12% Upto 3 Lakhs
Axis Finance From 13% Upto 25 Lakhs
L&T Finance From 12% Upto 7 Lakhs
Mahindra Finance From 10.99% Upto 10 Lakhs
Aditya Birla From 11.99% Upto 50 Lakhs
Bajaj Finance From 11% Upto 50 Lakhs

Rs.3 Lakh Personal Loan EMI for up to 5 Years

Loan Amount: Rs.3 Lakh

ROI: 10.5%

TenureEMI amount at Interest rate of 10.5%
1 yearRs.26444
2 yearsRs.13912
3 yearsRs.9750
4 yearsRs.7681
5 yearsRs.6448
6 yearsRs.5633
7 yearsRs.5058

Factors considered by lenders to issue personal loan of 3 Lakhs

Before issuing a personal loan of Rs. 3 Lakhs, the lenders consider a variety of parameters before arriving at a decision. Some of the parameters and factors are given below :

Credit Score: A higher credit score indicates a lower risk for the lender. Lenders usually prefer borrowers with a credit score of 750+ in order to be eligible for a personal loan

Income and Employment Stability: Lenders assess the borrower’s income to ensure they have the financial capacity to repay the loan. A Stable employment history and a regular source of income play positive role in the outcome of your loan application. For salaried people, lenders expect a minimum of 1 year in the present organization for self-employed people, lenders expect the borrower to have run the current business for atleast two years.

Debt-to-Income Ratio (DTI): Lenders evaluate the borrower’s DTI, which is the ratio of their monthly debt payments to their gross monthly income. Banks and NBFCs expect a DTI of less than 30% in order to successfully process the loan

Loan Amount and Repayment Capacity: The loan amount is determined largely based on the borrowers repaying capacity and his current debt obligations.

Credit History: Aside from his present credit score, the lenders might also look into borrower’s credit history for trust. Credit history documents all the loans that the borrower has taken along with his repayment record.

Age of the Borrower: Lenders may consider the borrower’s age, with younger individuals sometimes facing more scrutiny. Older individuals with a stable financial history may be perceived as lower risk.

Understanding these factors and working on strengthening your credit profile boosts your chances of getting approved for a personal loan at favourable terms.


Eligibility Criteria for 3 Lakh Personal Loan

  • Age: 21 to 60 years
  • Employment: Salaried or self-employed with a stable source of income
  • Income level: Would vary from lender to lender
  • Credit Score: A credit score of 650+
  • Citizenship: Indian resident

Documents Required for 3 Lakh Personal Loan

  • Identity proof (Aadhar card, passport, or driving license)
  • Address proof (utility bills or rental agreement)
  • Income proof (salary slips or income tax returns, Business Establishment Proof)
  • Passport-sized photographs
  • Bank statements for the last 3-6 months

Why Choose Us?

  • Customer-Centric Approach: Your needs come first. We’re here to make your journey smooth and stress-free. Get to compare loan quotes from multiple lenders and select the one that fits your requirement
  • Secure and Confidential: Your data is your business. We ensure your personal and financial information is treated with the utmost confidentiality and security.
  • Personalized Assistance: Need help? Our dedicated team is just a call away. Our team would be supportive to you from application to disbursing
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