High Loan Amount
A Rs 3 Lakh instant loan covers urgent expenses like medical, wedding, education, travel, or home renovation.
Rs 3 Lakh Personal Loan
Instant Approval in 10 Minutes
Tenure up to 36 months
Minimum Income Required Rs 15K
Personal Loan EMI Calculator
Get a Rs 3 Lakh Personal Loan Instantly
Get a Personal Loan of up to Rs 3 Lakh instantly with a hassle-free process. Whether you need funds for medical emergencies, home renovation, or any personal expense, you can avail of this loan with a minimum income requirement of just Rs 15,000 per month. Enjoy flexible repayment options with a tenure of up to 36 months, making it easy to manage your EMIs. With interest rates starting at 19% per annum, this loan is designed to provide quick financial support with minimal documentation and fast approval. Apply now for instant funds!
Why Opt for a Personal Loan of Rs 3 Lakh?
Achieve your dreams effortlessly with Hero FinCorp Rs 3 Lakh Personal Loan. Whether it's for education, home renovation, or unforeseen expenses, our customisable loan option offers the financial assistance you require. Benefit from competitive interest rates, flexible repayment terms, and a straightforward application process that guarantees rapid approval. At Hero FinCorp, we understand your aspirations and are committed to provide the financial support you need. Take a significant step today and turn your dreams into reality.
EMI for Personal Loan of Rs 3 Lakh for up to 3 Years
While looking for a 3 Lakh Personal Loan, you can choose a repayment loan tenure of up to 36 months (three years). The 3 Lakh Personal Loan EMI will majorly depend on your tenure. To choose a suitable EMI for Rs 3 Lakh Personal Loan, an EMI Calculator can be an ideal solution.
The Personal Loan EMI calculator can calculate the EMI amount for various loan terms and help you select the best tenure with budget-friendly EMIs. For instance, if you borrow an instant loan of 3 Lakh at an interest rate of 19%, your EMIs for different loan terms would be as follows:
| Loan Amount | Tenure (in Months) | Interest Rate (per annum) | Monthly EMI | Total Interest | Total Amount Payable |
|---|---|---|---|---|---|
| Rs 3,00,000 | 12 | 19% | Rs 27,647 | Rs 31,764 | Rs 3,31,764 |
| Rs 3,00,000 | 18 | 19% | Rs 19,285 | Rs 47,130 | Rs 3,47,130 |
| Rs 3,00,000 | 24 | 19% | Rs 15,123 | Rs 62,952 | Rs 3,62,952 |
| Rs 3,00,000 | 30 | 19% | Rs 12,640 | Rs 79,200 | Rs 3,79,200 |
| Rs 3,00,000 | 36 | 19% | Rs 10,997 | Rs 95,892 | Rs 3,95,892 |
Disclaimer: The EMI calculations provided are approximations, and actual figures may differ.
For a 3 Lakh loan, the EMI calculator will calculate the EMIs based on the repayment tenure you choose and the interest on 3 Lakh loan. Per month instalment has a portion of the principal and applicable interest rate. Shorter loan tenure means bigger EMIs but less overall interest payable, while longer loan tenure means smaller EMIs but more overall interest payment. So, make your decision accordingly.
Features and Benefits of a Personal Loan of Rs 3 Lakh
At Hero FinCorp, you can apply for a Personal Loan of up to 3 Lakh and repay it in easy EMIs spread across a maximum tenure of 36 months. Here are some features and benefits you must know:
Attractive Interest Rate
Hero FinCorp offers competitive rates, ensuring affordable EMIs on a Rs 3 Lakh loan based on eligibility.
Collateral-Free
Hero FinCorp offers 100% collateral-free Personal Loans based on income, DTI ratio, credit score, and history.
Flexible Repayment Tenure
Choose a flexible repayment tenure of up to 36 months for your Rs 3 Lakh Personal Loan EMI.
Instant Approval
After loan application, Rs 3 Lakh is approved instantly and disbursed quickly.
Eligibility Criteria for a Personal Loan of Rs 3 Lakh
At Hero FinCorp, we have simple personal loan eligibility criteria that anyone can fulfill to qualify for a Rs 3 Lakh loan with a 3 year tenure. However, check these conditions before applying to ensure you meet the requirements and avoid rejection.
Age
To get a Rs 3 Lakh loan from Hero FinCorp, you should be 21-58 years old.
Citizenship
At Hero FinCorp, we offer 3 Lakh loan facilities to Indian citizens only.
Work Experience
Minimum work experience for salaried employees is 6 months, and 2 years for self-employed.
Monthly Income
Minimum income requirements of Rs 15,000 per month.
Documents Required for a Personal Loan of Rs 3 Lakh
At Hero FinCorp, we support a 100% digital loan process with zero paperwork and no branch visits. The documentation requirements for a Personal Loan vary for salaried and self-employed individuals. Here is a brief overview of the documents required for Personal Loan:
Documents Required for Salaried
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One)
Ownership Proof
Residence Ownership Proof (Electricity Bill, Maintenance Bill, Property Document)
Income Proof
Last 6 Months Salary Slips, Bank Statements, and Form 16
Documents Required for Self-Employed
Mandatory Documents
Duly filled application form, Passport-size photograph
Identity Proof
Driving License, Passport, PAN Card, Aadhaar Card (Any One)
Address Proof
Driving License, Passport, Aadhaar Card, Ration Card, Utility Bill (Any One), Office Address Proof (if applicable)
Ownership Proof
Business Existence Proof (Tax Registration, Shop Establishment Proof, Company Registration Certificate)
Income Proof
Last 6 Months' Bank Statements and ITR for 2 Years
Personal Loan Interest Rates for Rs 3 Lakh Loan
Hero FinCorp provides Rs 3 Lakh loans with the best personal loan interest rates. Our interest rates are highly competitive. However, before applying, you should be aware of other fees and charges to determine the total cost of your loan. Here is an overview.
| Charge Type | Details |
|---|---|
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Starting from 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Our online loan app does not charge any cancellation charges |
| 2. Interest amount paid is non-refundable | |
| 3. Processing charges are also non-refundable |
How to Apply for a Personal Loan of Rs 3 Lakh?
Applying for a 3 Lakh Loan online at Hero FinCorp is straightforward. Here are the steps to follow:
- 01
Visit the Hero FinCorp website or install the personal loan app
- 02
Go to the personal loan page and click ‘apply now’.
- 03
Enter your mobile number and verify with the OTP received
- 04
Choose the loan amount you need
- 05
Verify your KYC details to check income eligibility
- 06
Click ‘Submit’ to complete your application
Uses of Personal Loan of Rs 3 Lakh
A Personal Loan of Rs 3 Lakh can be used for various financial needs. Here are some common uses:
3 lakh personal loan Related Blogs
FREQUENTLY ASKED QUESTIONS
You can get approval for a Personal Loan of Rs 3 Lakh in 10 minutes if you apply online on the Hero FinCorp website or loan app. Once approved, the loan will be disbursed to your bank account in no time.
A CIBIL score plays an important role in loan application, but you can get a Personal Loan if you have a stable job, fixed income, low debt-to-income (DTI) ratio, and considerable work experience.
Yes, you can get a Personal Loan without submitting any physical documents. At Hero FinCorp, you do not need to provide any documents. Just provide your KYC details like Aadhaar and PAN number and proof of income.
If Rs 3 Lakh is taken at 19% per annum interest for 3 years, the EMI would be about Rs 10,997. You can also calculate your instalments online instantly using an EMI calculator.
You may not receive a Rs 3 Lakh Personal Loan without interest because there is a cost of borrowing in every loan. You can definitely obtain the lowest interest rate, if you qualify for a loan.
Yes, if you have a good credit rating and meet the eligibility requirements of the lender, you can easily get a low interest rate on a Rs 3 Lakh Personal Loan.
The monthly EMIs for a Rs 3 Lakh loan will depend on your interest rate as well as your repayment term. You can make use of a Personal Loan EMI Calculator online.
Rupees 15,000 per month is the minimum income you need to apply for a Personal Loan with Hero FinCorp. The income requirement is the same for self-employed applicants.
Yes, you can obtain a Personal Loan even without a salary slip since the lenders also consider bank statements, Form 16 or ITRs as proof of income.
Yes, providing income proof is necessary to get a Personal Loan. If you are a salaried employee and do not have a regular income proof like salary slip, you can provide your income tax returns (ITRs), bank statements or Form 16.
Yes, it is possible to get a loan with a low CIBIL score. Some lenders may approve your loan with a high interest rate or may offer stringent terms and/or ask for additional documents or guarantor.
The Hero FinCorp app provides instant Personal Loans of Rs 3 Lakh, which you may repay in equated monthly instalments in a repayment tenure of 12 to 36 months.
You may get approved for Rs 3 Lakh Personal Loan in just 10 minutes when you apply online through the Hero FinCorp loan website or mobile app and fulfil the loan eligibility requirements.