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Last updated on: July 2, 2025

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Rs.3 Lakh Personal Loan @10.49%* Interest rate

Need ₹3 lakh in Personal Loan Urgently? Get instantly at a competitive 10.49% interest rate. Fast and easy approval process.

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

Comparison of Personal Loan Interest Rates of Banks (2025)

BankInterest RateLoan AmountProcessing FeeProcessing TimeApply
DBS BankFrom 10.99%Up to ₹15 Lakhs1-2% of loan amount24-48 hoursApply
HDFCFrom 10.85%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Axis BankFrom 10.49%Up to ₹40 Lakhs1.5% to 2%24-72 hoursApply
ICICI Bank10.75% – 19%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Bank of Baroda10.75% – 18.5%Up to ₹5 Lakhs1%-2%48-72 hoursApply
SBIFrom 11%Up to ₹30 LakhsUp to 1.5%2-3 working daysApply
IndusIndFrom 10.49%Up to ₹50 LakhsUp to 2.5%24-48 hoursApply
Yes BankFrom 10.99%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Standard CharteredFrom 11.5%Up to ₹50 LakhsUp to 2.25%48-72 hoursApply
IDFCFrom 10.49%Up to ₹50 LakhsUp to 3%24-48 hoursApply
Kotak MahindraFrom 10.99%Up to ₹40 Lakhs1% to 2.5%1-2 daysApply
PNBFrom 11.40%Up to ₹20 LakhsUp to 1%2-3 daysApply
Bandhan BankFrom 11.55%Up to ₹25 LakhsUp to 2%48-72 hoursApply

Comparison of Personal Loan Interest Rates of NBFCs (2025)

NBFCInterest RateLoan AmountProcessing FeeProcessing TimeApply
Piramal FinanceFrom 12.99%Up to ₹35 Lakhs2%-3%24-72 hoursApply
Shriram FinanceFrom 14%Up to ₹35 LakhsUp to 3%2-3 daysApply
Tata CapitalFrom 10.99%Up to ₹35 LakhsUp to 2.5%24-48 hoursApply
InCredFrom 18%Up to ₹3 Lakhs2% to 4%Instant to 24 hrsApply
FinnableFrom 16%Up to ₹10 LakhsUp to 3%24-48 hoursApply
PaySenseFrom 16.8%Up to ₹5 LakhsUp to 2.5%24-48 hoursApply
PoonawallaFrom 9.99%Up to ₹30 Lakhs1% to 2%24-72 hoursApply
FullertonFrom 11.99%Up to ₹25 LakhsUp to 3%1-2 working daysApply
LendingKartFrom 12%Up to ₹3 Lakhs2% to 3%24-48 hoursApply
Axis FinanceFrom 13%Up to ₹25 LakhsUp to 2.5%1-2 daysApply
Mahindra FinanceFrom 10.99%Up to ₹10 LakhsUp to 3%2-3 daysApply
Aditya BirlaFrom 11.99%Up to ₹50 LakhsUp to 2.5%48-72 hoursApply
Bajaj FinanceFrom 11%Up to ₹50 LakhsUp to 4%24-72 hoursApply

₹3 Lakh Personal Loan EMI for up to 7 Years

Loan Amount: ₹3,00,000
Rate of Interest (ROI): 10.5% per annum

TenureEMI Amount @ 10.5% Interest
1 year₹26,444
2 years₹13,912
3 years₹9,750
4 years₹7,681
5 years₹6,448
6 years₹5,633
7 years₹5,058

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 700+
  • 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

Apply 3 Lakh Personal Loan

Prem Anand Author
Prem Anand
Prem Anand
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Prem Anand
10 + years Experienced content writer specializing in Banking, Financial Services, and Insurance sectors. Proven track record of producing compelling, industry-specific content. Expertise in crafting informative articles, blog posts, and marketing materials. Strong grasp of industry terminology and regulations.
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Prem Anand
Founder and CEO
Gurumoorthy Anthony Das
With over 20 years of experience in the BFSI sector, our Founder & MD brings deep expertise in financial services, backed by strong experience. As the visionary behind Fincover, a rapidly growing online financial marketplace, he is committed to revolutionizing the way individuals access and manage their financial needs.
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Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.

Who is the Author?

Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.

How is the Content Written?

The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.

Why Should You Trust This Content?

This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.