Are you in need of ₹3 lakh loan? Whether it's for a medical emergency, home improvement, or wedding, a personal loan can provide the financial assistance you need. At Piramal Finance, you can easily get a personal loan of ₹3 lakh without any trouble. No need to go from branch to branch as you can get it with 100% digital loan application process.
How to get 3 Lakh Personal Loan on the same day?
You can easily apply for a 3 lakh rupees loan at Piramal Finance. Simply follow these steps:
Step 1: Click on Apply Now and start your Personal Loan application.
Step 2: Enter your mobile number linked to your bank account.
Step 3: Enter the OTP received on your mobile number.
Step 4: Enter the required document and verify the same.
Step 5: Bank account verification.
Step 6: Income Verification.
Step 7: Check the Final Loan Offer, Accept, and continue the final process
The ₹3 lakh loan will directly get credited to your verified bank account within 24 hours.
Key Features of the ₹3 Lakh Loan
Online Loan Processing
Apply for ₹3 lakh personal loan in minutes using the Piramal Finance website anytime and anywhere. The fast, seamless online verification process disburses your loan amount on the same working day.
Seamless Loan Application
At Piramal Finance, you won’t have to wait for too long for the personal loan application. You only need to complete the application form online, upload the requisite documents, and finish things within minutes. That’s how fast a loan application process has become in today’s digital era.
Digital Paperwork
It can consume a lot of time to collect and manage all the requisite paperwork until the loan procedure is complete. Piramal Finance's online loan needs only easy digital paperwork and offers instant verification for added convenience.
No Need for Collateral
Piramal Finance does not need collateral for an urgent loan of ₹3 Lakh. We know emergencies can happen to anyone, so we avoid anything that could slow down getting the loan.
Affordable Interest Rate & Flexible Tenure
The ₹3 lakh loan interest rate at Piramal Finance is {plintrestrate}* p.a, which is fair and competitive. The low-interest rate makes your EMI less and more convenient to repay. We offer a 5-year loan term for lower monthly payments and better financial management.
EMI Calculation
Below is a table representing the ₹3 lakh loan EMI for 5 years at a standard interest rate of 12.99*%pa. So, check it out:
EMI Calculation
Below is a table representing the ₹3 lakh loan EMI for 5 years at a standard interest rate of {plintrestrate}* p.a. So, check it out:
-
Row 1
- Year
- Principal Amount
- Interest Payable
- Total Amount
- Avg. Monthly EMI
- Outstanding Balance
-
Row 2
- 1
- ₹ 45,573
- ₹ 36,315
- ₹ 81,888
- ₹ 6,824
- ₹ 2,54,427
-
Row 3
- 2
- ₹ 51,858
- ₹ 30,030
- ₹ 81,888
- ₹ 6,824
- ₹ 2,02,569
-
Row 4
- 3
- ₹ 59,010
- ₹ 22,878
- ₹ 81,888
- ₹ 6,824
- ₹ 1,43,559
-
Row 5
- 4
- ₹ 67,149
- ₹ 14,739
- ₹ 81,888
- ₹ 6,824
- ₹ 76,410
-
Row 6
- 5
- ₹ 76,410
- ₹ 5,478
- ₹ 81,888
- ₹ 6,824
- ₹ 0
Factors Responsible for ₹3 lakh Personal Loan Interest Rate
The interest rate for ₹3 lakh loan typically starts from {plintrestrate}* pa, and the maximum repayment tenure is five yea₹The interest rate on ₹3 lakh personal loan depends on your income, employment type, work experience, and age.
- Age:
- The minimum age required to apply for a personal loan is 21 years and the maximum age at which a person can apply for an instant personal loan is set to be 58 yea₹If you’re a younger applicant, your ability to repay the loan will be higher than any old applicant. Thus, a younger applicant gets entitled to a lower interest rate than any older applicant.
- Credit Score:
- We prioritize applicants with a credit score of 700 or above more than other applicants. However, if you have a low credit score, you can always improve it.
- Employment Status:
- Employees working in public sector and private sector companies consider salaried employees eligible for an instant personal loan. Individuals with higher income certainty and job stability are given more priority and offered lower interest rates than others.
- Work Experience:
- A salaried individual with a minimum of two years of work experience is considered highly eligible for a ₹3 lakh loan. The more your work experience, the more your capability to repay the loan, and the lesser your interest rate.
Documents Required
When applying for a loan of ₹3 lakh, you need to submit some essential documents to validate your ID, address and income. This table outlines all the documents required for availing of a personal loan of ₹3 lakh:
Documents Required
When applying for a loan of ₹3 lakh, you need to submit some essential documents to validate your ID, address and income. This table outlines all the documents required for availing of a personal loan of ₹3 lakh:
-
Row 1
- Document Type
- Documents for ₹3 Lakh Loan
-
Row 2
- Income Proof
- Last 3 months' bank account statements / salary slips
-
Row 3
- Identity Proof
- Aadhar Card, PAN Card, Voter's Id / Driving License
-
Row 4
- Address Proof / Proof of Residence
- Aadhar Card / Driving License / Passbook / Utility Bills / Property Documents
-
Row 5
- Proof of Employment
- Appointment Letter / Company Contract, Company or HR's Email ID, Official Identity Card
-
Row 6
- Investment Proof (If Any)
- Copy of Receipts of Mutual Funds/ Fixed Deposits/ Recurring Deposits
-
Row 7
- Photograph
- Latest Coloured Passport-Size Photograph
Fees and Charges
The fees and charges for an instant loan of ₹3 lakh at Piramal Finance are more reasonable and competitive than othe₹Here is a table representing the fees and charges for a personal loan.
Fees and Charges
The fees and charges for an instant loan of ₹3 lakh at Piramal Finance are more reasonable and competitive than othe₹Here is a table representing the fees and charges for a personal loan.
-
Row 1
- Features and Fees
- Details
-
Row 2
- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards.
-
Row 3
- Loan Amount
- ₹ 25,000 to ₹ 5,00,000.
-
Row 4
- Processing Fees
- Up to 5% plus applicable taxes.
-
Row 5
- Loan Tenure
- 3 - 60 months tenure
-
Row 6
- Prepayment Charges
- ₹ 0
-
Row 7
- Foreclosure Charges
- ₹ 0
-
Row 8
- Stamp Duty
- At actuals (as per state)
-
Row 9
- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 10
- EMI Bounce Charges
- ₹ 500 plus applicable taxes
-
Row 11
- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
-
Row 12
- Cash Collection Charges
- 1% of collection amount of Rs. 50000 and above in cash + taxes
-
Row 13
- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
-
Row 14
- Loan Cancellation after Disbursement
- Interest accrued & due plus applicable taxes
-
Row 15
- Loan Repayment Schedule (applicable for physical copies only)
- ₹ 500 plus applicable taxes
-
Row 16
- Change of Loan Repayment Mode
- ₹ 1000 plus applicable taxes
Different Types of Personal Loans
Home Improvement Loan
You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Travel Loan
If you are willing to travel to an exotic location, applying for a personal loan is the way to go.
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Emergency Loan
Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
Loan for Women
Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.
Loan for Salaried Employees
Unlock financial flexibility with a personal loan designed exclusively for salaried employees. Get the loan quickly and conveniently.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
Personal Loan for Bike
Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.
Get a Personal Loan from the Nearest Piramal Finance Branch
Personal Loan in
Frequently asked questions
The EMI depends on various factors, such as tenure and interest rate. You can use our Personal Loan EMI calculator to calculate the exact EMI required for the loan. The approximate EMI at an interest rate of 12.99%* is as below –
- Tenure Approximate Monthly EMI
- 1 Year 26,794
- 2 Years 14,261
- 3 Years 10,107
- 4 Years 8,047
- 5 Years 6,824