A personal loan is a financial arrangement where individuals borrow a lump sum from a lender, often unsecured. These funds can be utilised for diverse purposes such as travel, education, or debt consolidation. Repayment occurs through fixed monthly instalments, and interest rates depend on factors like credit history.
Personal loan eligibility criteria for Rs. 3 lakh loan
It is crucial to have them readily available to prevent rejections, as document requirements may vary among lenders. Bajaj Finserv Personal Loan streamlines the process with minimal documentation.
- Nationality: India
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 685 or higher.
- Monthly salary: Starting Rs. 25,001, based on the city you live in.
*You should be 80 years* or younger, at the end of the loan tenure.
Our personal loan application process is quick and easy. You can complete it in a few minutes*. As per your eligibility, you may receive the loan amount in your bank account within a few hours of approval.
Documents required for a personal loan of Rs. 3 lakh loan for 3 years
It is important to keep the required documents handy to avoid any rejections. The requirement for documents might differ from lender to lender. Bajaj Finserv Personal Loan comes with minimal documents. All you have to do is submit these documents.
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
- Utility bill of electricity and piped gas
Personal loan interest rates for Rs. 3 lakh in India
Personal loan interest rates in India vary among lenders. Typically, rates depend on factors like credit score, tenure, and the financial institution's policies. Prospective borrowers should carefully compare offerings from different lenders to secure the most favourable interest rate for their personal loan.
How to calculate Rs. 3 lakh personal loan EMI for 3 years?
To compute the Rs. 3 lakh personal loan EMI for 3 years, use a personal loan EMI calculator. Input the loan amount, interest rate, and tenure. For instance, at a nominal interest rate of 12%, the monthly EMI would be approximately Rs. 9,964 and other charges. This tool ensures quick and accurate EMI calculations for effective financial planning.
Why choose Bajaj Finance for a Rs. 3 lakh personal loan for 3 years
Opt for Bajaj Finserv Personal Loan for a Rs. 3 lakh for 3 years. Our personal loan comes with competitivU+0065 interest rates, seamless application process, and flexible repayment options. With Bajaj Finance, benefit from quick loan disbursal and a hassle-free experience.
In conclusion, Bajaj Finserv Personal Loans offer a convenient financial solution with competitive interest rates, flexible repayment options, and quick approval processes. Whether for emergencies, or weddings, Bajaj Finance Limited provides accessible funding tailored to individual needs, making it a reliable choice for borrowers.
Apply for a personal loan from Bajaj Finance today.
