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On Bajaj Markets, you can get a ₹3 Lakh loan at interest rates starting from just 9.99% p.a. Furthermore, you can repay the amount over periods of up to 96 months as per your convenience. You can choose from over 15 prominent lenders in India to find an option that best suits your needs.

Interest Rate for a Personal Loan of ₹3 Lakhs

The interest rates offered by lenders who provide a ₹3 Lakhs loan on Bajaj Markets are as follows:

Lenders

Starting Interest Rate

Bajaj Finance

10% p.a.

CASHe

27% p.a.

Federal Bank

11% p.a.

Fibe

14% p.a.

Finnable

15.95% p.a.

IIFL

16.50% p.a.

InCred

16% p.a.

Kissht

14% p.a.

Kotak Mahindra Bank

10.99% p.a.

KreditBee

15% p.a.

L&T Finance

12% p.a.

moneyview

15.96% p.a.

Muthoot Finance

14.50% p.a.

PaySense

14% p.a.

Privo

9.99% p.a.

SMFG India Credit

12% p.a.

Upwards

18% p.a.

YES BANK

12.50% p.a.

Zype

18% p.a.

*Disclaimer: The mentioned rates are subject to change at the lender’s discretion. 

Calculate the EMI for a Personal Loan of ₹3 Lakhs

Loan Amount
Tenure
Months
Rate of Interest
Personal Loan
Your Monthly Personal Loan EMI
Principal Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

₹3 Lakh Personal Loan EMI Over Varying Tenures

To enjoy a lower EMI for a personal loan of ₹3 Lakhs, you can opt for a longer tenure. How does the repayment period affect your monthly instalments? Let’s understand this with a simple illustration. Assume you got a loan of ₹3 Lakhs and were offered an interest rate of 9.99% p.a. Let’s check how the tenure affects your loan instalments:

Tenure

EMI Amount

Total Interest Payable

Total Repayment Cost

12 months

₹26,373.37

₹16,480.45

₹3,16,480.45

24 months

₹13,842.09

₹32,210.24

₹3,32,210.24

36 months

₹9,678.75

₹48,434.92

₹3,48,434.92

48 months

₹7,607.33

₹65,152.05

₹3,65,152.05

60 months

₹6,372.64

₹82,358.24

₹3,82,358.24

72 months

₹5,556.24

₹1,00,049.18

₹4,00,049.18

84 months

₹4,978.81

₹1,18,219.64

₹4,18,219.64

96 months

₹4,550.66

₹1,36,863.55

₹4,36,863.55

*Note: These are approximate values and are meant only for illustration. For actual EMI values, reach out to your lender.

As shown in the example above, as the tenure gets longer, the EMI amount reduces. On the other hand, there is an increase in the total interest payable. This has a direct impact on your loan’s aggregate repayment costs. So, compare the loan EMI across different repayment periods before making a decision.

Eligibility Criteria & Documents Required for a Personal Loan of ₹3 Lakhs

Here are some common criteria you should fulfil to be eligible for a personal loan of ₹3 Lakhs:

  • Your age should be between 18 and 68 years 

  • You should be self-employed or salaried

  • You should have a stable source of income

  • You should have a minimum work experience of 2 to 3 years

  • You should ideally have a CIBIL score of 750 or more

Alongside this, keep the following documents handy for a smooth loan application process:

  • Income proof: 

    1. Bank statement 

    2. Salary slips

  • Address proof: Any one of the following

    1. Aadhaar card

    2. Voter ID

    3. Passport

    4. Utility bills

    5. Driving licence

  • Identity proof: Any one of the following

    1. Aadhaar card

    2. Voter ID

    3. PAN card

    4. Driving licence

    5. Passport

  • 2 passport-size photographs

The eligibility and documentation requirements may vary depending on the lender you choose. Ensure to get a complete list of the criteria and documents required before applying for the loan.

Disclaimer

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

Frequently Asked Questions

How can I get an instant ₹3 Lakh loan?

You can easily apply for an instant ₹3 Lakhs personal loan on Bajaj Markets. Simply fill the online application form and submit the necessary documents online.

What is the interest rate levied on a ₹3 Lakh loan?

You can get a ₹3 Lakh loan at interest rates starting from just 9.99% p.a. on Bajaj Markets.

Can I get a ₹3 Lakh loan without submitting any collateral?

Yes, you can easily get an instant personal loan of ₹3 Lakhs without having to mortgage any of your property or other assets.

Is it possible to secure a ₹3 Lakh loan on Bajaj Markets?

Yes, you can get a ₹3 Lakh loan by meeting the specified eligibility criteria and submitting the necessary documents on Bajaj Markets.

What is the minimum and maximum tenure for a personal loan of ₹3 Lakhs?

You can opt for repayment periods spanning from a few months to 8 years when applying for a personal loan of ₹3 Lakhs on Bajaj Markets.

How fast can I get a personal loan of ₹3 Lakhs?

Apply for a ₹3 lakh personal loan on Bajaj Markets and get instant approval. The amount is usually disbursed to your bank account within a few minutes.

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