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₹30 Lakh Personal Loan

You can easily meet your urgent financial needs with a personal loan of ₹30 Lakhs available on Bajaj Markets. With competitive interest rates and quick processing, you can manage multiple large expenses efficiently.
Your Personal Loan EMI
₹ 45,522
Total Interest Amount
₹ 1,370,159
Principal Amount
₹ 30,00,000
Total Payable Amount
₹ 43,70,159
Loan Amount i
Interest Rate
- +
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Max value reached
Tenure
Months drop-down-img
  • Years
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Instant Approval

With the help of this free-of-cost tool, you can choose a plan for repayment smartly by choosing a comfortable tenure. 

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This way, you can manage the EMIs and overall budget smoothly.

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Overview

Instant financial support through a personal loan of ₹30 Lakhs helps you manage expenses without affecting your savings. Whether it is a sudden medical emergency, a destination wedding, or a business investment, this loan provides the liquidity required.

For example, at an interest rate of 10% p.a., a 3-year loan of ₹30 Lakhs results in an EMI of ₹96,801, with a total interest payout of ₹4,84,856 .

Extending the tenure to 5 years lowers the EMI to ₹63,741 while increasing the total interest payable to ₹8,24,468.

With fast approvals, minimal paperwork, and flexible repayment options, you receive funds when needed and repay them through fixed monthly EMIs.

Compare ₹30 Lakhs Personal Loan Interest Rates by Various Banks & NBFCs

Several lending partners on Bajaj Markets provide personal loans of ₹30 Lakhs at low interest rates with flexible repayment options. Compare various lenders, review their loan terms, and select the offer that aligns with your financial requirements in the most effective manner.

Available Offerings

Max. Loan Amount

Minimum Interest Rate

Max. Tenure

Processing Fee

Bajaj Finance Personal Loan

₹55 Lakhs

10.00% p.a.

96 months

Up to 3.93% of the loan amount (Inclusive of applicable taxes)

Kotak Mahindra Bank Personal Loan

₹40 Lakhs

10.99% p.a.

72 months

Up to 1.50% of the loan amount + GST

YES BANK Personal Loan

₹50 Lakhs

12.50% p.a.

72 months

1.15% to 2.75% of the loan amount

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

₹30 Lakh Personal Loan EMI for Different Tenures

The EMI of your personal loan of ₹30 Lakhs is usually affected by the interest rate levied by the lender and the tenure you choose. While you do not have much power over the former, it is important to choose the repayment tenure wisely. 

Let’s assume that you secured a ₹30 Lakh loan at 10.99% p.a. The table provided below shows how a change in tenure will affect the EMI amount:

Tenure

EMI Amount

Interest Rate

Total Interest Payable

Total Repayment Cost

₹30 Lakh Loan for 1 year

₹2,65,130.98

10.99% p.a. 

₹1,81,571.79

₹31,81,571.79

₹30 Lakh Loan for 2 years

₹1,39,809.59

10.99% p.a. 

₹3,55,430.08

₹33,55,430.08

₹30 Lakh Loan for 3 years

₹98,201.95

10.99% p.a. 

₹5,35,270.02

₹35,35,270.02

₹30 Lakh Loan for 4 years

₹77,522.00

10.99% p.a. 

₹7,21,055.99

₹37,21,055.99

₹30 Lakh Loan for 5 years

₹65,212.31

10.99% p.a. 

₹9,12,738.54

₹39,12,738.54

₹30 Lakh Loan for 6 years

₹57,086.87

10.99% p.a. 

₹11,10,254.82

₹41,10,254.82

₹30 Lakh Loan for 7 years

₹51,351.54

10.99% p.a. 

₹13,13,529.10

₹43,13,529.10

₹30 Lakh Loan for 8 years

₹47,109.10

10.99% p.a. 

₹15,22,473.37

₹45,22,473.37

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

₹30 Lakh Personal Loan: Fees and Charges

Apart from the interest, you may have to bear a few additional charges when taking a personal loan on Bajaj Markets. These include: 

Fees and Charges

Details

Processing Fees

Up to 3.93% of the loan amount

Foreclosure Fees

Up to 4% on the outstanding loan amount

Part-payment Charges

Up to 25% of principal outstanding

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

How to Calculate Your Personal Loan EMI

You can calculate your personal loan EMI either by using an online EMI calculator or by applying the manual formula. Here is how you can calculate it manually:

EMI = [P × R × (1+R)^N] / [(1+R)^N–1]

Where:

  • P = Loan amount

  • R = Monthly interest rate (Annual interest rate/12/100)

  • N = Loan tenure in months

Consider this example:
You take a personal loan of ₹30 Lakhs at an interest rate of 10% per annum for a tenure of 60 months. Your EMI comes to ₹55,577. The total interest payable amounts to ₹10,01,580, which brings the total repayment amount to ₹40,01,580.

Eligibility & Documents for a Personal Loan of ₹30 Lakhs

Checking your eligibility before applying for any credit can help you ensure that the application process is smooth. It further increases the chances of your loan approval. Although the criteria may vary from lender to lender, here are some basic requirements you are usually asked to fulfil:

  1. Must be an Indian citizen

  2. Should be a salaried or self-employed individual

  3. Minimum age: 18 years

  4. Monthly income of at least ₹10,000

  5. At least 1 year of work experience

  6. CIBIL score of 750 or above

Furthermore, having all the requested documents handy can speed up the process. Here is a list of the documents you need to furnish at the time of application:

Identity Proof (any one of the following)

Address Proof (any one of the following)

Income Proof (any one of the following)
PAN Card Aadhaar Card Bank statements
Aadhaar Card Voter ID Salary slips for the last 3 months
Voter ID Passport  
Passport Driving Licence  
Driving Licence Electricity Bill  
  Telephone Bill  

How to Apply for a Personal Loan of ₹30 Lakhs

After checking your eligibility, you can follow these steps to apply for a loan online. 

  • Click on ‘Apply for a personal loan’

  • Fill the loan application form with your personal details 

  • Enter your loan amount and tenure 

  • Submit the application 

  • Wait for representative to reach out

  • Follow the instruction to complete the step

₹30 Lakhs Personal Loan Monthly Payment Plan

Suppose you take a loan of ₹30 Lakhs at an interest rate of 10% per annum and a tenure of 6 months. Here is the amortisation breakdown:

Month

Payable Amount

Principal

Interest

Balance

Month 1

₹5,14,684

₹4,89,684

₹25,000

₹25,10,316

Month 2

₹5,14,684

₹4,93,765

₹20,919

₹20,16,551

Month 3

₹5,14,684

₹4,97,880

₹16,805

₹15,18,671

Month 4

₹5,14,684

₹5,02,029

₹12,656

₹10,16,643

Month 5

₹5,14,684

₹5,06,212

₹8,472

₹5,10,431

Month 6

₹5,14,684

₹5,10,431

₹4,254

₹0

Disclaimer: These are approximate values and are meant for illustration only. For actual EMI values, reach out to the lender.

Impact of Pre- and Post-personal Loan Approval on CIBIL Score

Personal loans can affect your CIBIL score and overall financial profile. Here’s how:

  • Pre-Approval Impact

When you apply for a personal loan, the lender conducts a credit report check, known as a hard inquiry. This can reduce your CIBIL score by a few points for a short period.

  • Post-Approval Impact

Once the loan is approved, your repayment behaviour begins to influence your CIBIL score. Consistently making payments on time helps maintain a strong score, while missed or defaulted EMIs can have a negative effect.

Uses of a ₹30 Lakh Personal Loan

You can use a personal loan of ₹30 Lakhs for various purposes. Here are some of the common uses of this loan:

  • Home Renovation or Buying a New House

Use this loan to renovate your existing home or purchase a new property. It provides the funds required for repairs, upgrades, or home buying. This helps you avoid dipping into your savings for large expenses.

  • Medical Expenses

Medical emergencies may occur at any time and often involve high costs. A personal loan enables you to pay for hospitalisation, medicines, and surgical procedures. This ensures timely and proper treatment for you or your family.

  • Education

Use this loan to fund higher education or professional development. It can cover tuition fees, books, and study materials. This financial support allows you or your children to pursue academic and career objectives.

  • Debt Consolidation

Repaying multiple loans or credit card bills can become overwhelming. Use a personal loan to clear those high-interest debts in one go. Then repay a single loan every month, usually at a lower interest rate.

  • Wedding Expenses

Weddings in India often involve significant costs for venues, catering, décor, and attire. This personal loan provides the necessary funds to manage all such expenses. You can plan the ceremony as desired, without financial burden.

  • Travel and Vacations

Plan an international trip or a long-awaited holiday using this loan. Use the funds for air tickets, accommodation, transport, and sightseeing. This ensures you enjoy the journey without financial concerns.

Uses of a Personal Loan of ₹30 Lakhs

A ₹30 Lakhs personal loan offers financial flexibility for major expenses. Here’s how you can use it:

Higher Education in India or Abroad

A substantial loan amount can cover tuition fees, accommodation, travel, and other academic expenses for studying in India or overseas. This is helpful if you want to avoid liquidating savings or investments.

Expanding Your Business

If you are a business owner, you can use a ₹30 Lakhs loan to fund expansion plans, purchase new equipment, boost inventory, or manage operational costs.

Luxury Home Renovation

For major home renovations like modular kitchens, imported fixtures, or smart home automation, a personal loan can provide the required funds without dipping into your savings.

Debt Consolidation

If you have multiple outstanding debts with varying interest rates, you can use a ₹30 Lakhs loan to consolidate them into a single loan with a manageable EMI. This simplifies repayments and may reduce overall interest costs.

Medical Treatments and Surgeries

High-end medical treatments like organ transplants, advanced cancer care, or long-term hospitalisation can be costly. A personal loan can help cover medical expenses not included in health insurance policies.

How to Apply for a ₹30 Lakhs Personal Loan

Applying for a ₹30 Lakhs personal loan on Bajaj Markets takes only a few steps. They are given below:

  1. Click on Apply Now 

  2. On the application form, enter your personal details, such as your profession, mobile number, and pin code. 

  3. Enter the OTP to verify your mobile number. 

  4. On the next page, enter your preferred loan terms such as loan amount, tenure, and other required details. 

  5. Submit your application form. 

A representative will contact you to guide you through the loan application process.

Other Instant Personal Loan Options

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.

FAQs

30 Lakh Personal Loan
How can I get a ₹30 Lakh personal loan?

On Bajaj Markets, get a ₹30 Lakh personal loan through a simple online application process:

  1. Click on ‘Apply for a personal loan’

  2. Enter your basic details like name, phone number, employment type, etc.

  3. Next, choose your preferred lender from the list provided

  4. Now, enter the loan amount and tenure you want

  5. Submit your application

Yes, you can get a personal loan of ₹30 Lakhs if you meet the eligibility criteria set by the lender on Bajaj Markets.

To get a ₹30 Lakhs loan from any lender on Bajaj Markets, you will have to check your eligibility as per the requirements set by the lender. You can even contact your lender’s customer service and talk to a representative to learn how to apply for a personal loan.

Here are the EMIs for a ₹30 Lakh personal loan at 10% p.a. across different tenures:

  • 1-Year Tenure: ₹2,63,747 

  • 3-Year Tenure: ₹96,801 

  • 5-Year Tenure: ₹63,741 

  • 8-Year Tenure: ₹45,522

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