Are you looking for a small loan to meet your urgent financial needs? Opt for a convenient and quick 3 lakh Personal loan, just perfect for short term requirements of funds. Read on to find out about the 3 lakh personal loan EMI and how you can get a 3 lakh loan on aadhar card through us.
Banks and financial institutes in India offer personal loans to those who require monetary support in emergencies. In addition, you can utilise a personal loan for medical purposes, waiting purposes, or other emergency requirements that you may have.
Emergencies come without warning and create a troublesome situation for many. In these scenarios, personal loans come into the picture. A 3 lakh loan can serve multiple purposes and help you manage your expenses in emergencies.
Several banks of her personal loan schemes at low-interest rates to those who are in urgent need of financial support. Not many documents are required for a 3 lakh loan. This is one factor that makes personal loans feasible for many in emergencies across the country.
If you require a 3 lakh personal loan urgently, make sure you do sufficient research first and then choose a suitable scheme for you as per your affordability and requirements.
Multiple banks and financial institutes offer eligible applicants personal loans for emergency purposes. Your 3 lakh personal loan EMI will be higher if you choose a shorter tenure of 2 years-3 years. If you go for a longer tenure of up to 5 years, your EMI will be much lower.
You can use the money to consolidate debts, pay off credit card bills, and other EMIs. One of the most common reasons to apply for a personal loan remains to be medical bills in the country. You can utilise your 3 lakh loan to pay your medical expenses.
Medical emergencies emerge without a warning which may be quite expensive for several factors. In order to apply for a 3 lakh personal loan online, visit the official website of your preferred bank and fill in all the details properly.
There are different banks with different personal loans eligibility criteria. However, several common factors are considered when bank officials check your eligibility as a borrower before granting you a personal loan.
If you want a 3 lakh instant loan for an emergency, first, go through the eligibility criteria of your preferred bank property before applying for a loan.
The major factors that you need to keep in mind before applying for a 3 lakh loan include:
Before you apply for a 3 lakh loan for 5 years or a different tenure, make sure you go through all the necessary documents that you need to provide to the bank when you apply for a personal loan.
Different banks may require different documents when it comes to personal loans. There are several common documents required for personal loan by all banks. Although you do not need to have a long list of documents for a 3 lakh personal loan, some basic documents need to be provided to the bank.
The major documents to keep while applying for a personal loan include:
These are the basic documents that all applicants must-have during the application procedure. If you want to get a 3 lakh loan without documents, the best option is to borrow it from someone you know personally.
Additional Info: Also know about Debt Consolidation loan.
3 lakh interest rates differ from one bank to the other based on several factors. It is important to go through all the interest rates offered by other contemporary banks and financial institutes before applying for a personal loan to determine you are choosing the right scheme.
3 lakh personal loan EMI for 5 years depends directly on the current interest rate that is offered by your preferred bank. Go through the chart to compare and understand the differences between the interest rates offered by the leading banks in India at the moment.
Bank Names | Interest Rates for Personal Loans |
Navi | 9.99% |
HDFC Bank | 10.25% |
ICICI Bank | 10.50% |
State Bank of India | 10.30%-15.65% |
Canara Bank | 12.40% |
Apart from these banks, Kotak Bank, Corporation Bank, Bajaj Finserv, and Punjab National Bank are some of the other banks that offer 3 lakh personal loans. Your EMI will differ based on the interest rate. For instance, in SBI, 3 lakh personal loan EMI SBI for three years remains around 9,711/- for an average interest rate of 10.30%. If you get a loan from the Canara Bank, an interest rate of 12.40% onwards will be applied for the same principal amount.
The 3 lakh loan interest will determine your monthly payable rates. If you want to get a 3 lakh loan without interest, search for lenders who provide personal loans at minimum interest rates. You can also approach a lender that you know personally to avoid paying interest rates with your loan.
Before applying for a personal loan, make sure you use the 3 lakhs personal loan EMI calculator to calculate your monthly instalments beforehand. It will help you manage your finances well during your repayment tenure.
In order to apply for a 3 lakh loan online,
You can also apply for a 3 lakh personal loan offline by visiting your nearest bank branch and applying through the DSAs.
Additional Info: Looking for 20 Lakh Personal Loan? Check Eligibility & Apply.