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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,690
No. of Employees
61,600+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
Consolidated Lending Book
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Personal Loan of ₹3 Lakhs
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
What is a ₹3 Lakh Personal Loan?
A ₹3 lakh Personal Loan from ABCD is a hassle-free financing solution designed to meet your urgent financial needs. Whether you need funds for a medical emergency, home renovation, education expenses, or any personal requirement, this loan provides quick access to cash with minimal documentation. With competitive interest rates and flexible repayment tenures, you can conveniently plan your finances without straining your budget. ABCD's digital-first approach ensures a seamless application process, allowing you to apply online and get instant approval. No collateral or guarantor is required, making it an ideal choice for salaried and self-employed individuals seeking swift financial assistance.
Features of ₹3 Lakh Personal Loan
Flexible Repayment Tenure
Choose a repayment period that suits your financial capability.
Quick Approval and Disbursal
Get instant approval with minimal documentation and quick fund transfer.
No Collateral Required
Secure a loan without pledging any asset as security.
Attractive Interest Rates
Enjoy competitive interest rates tailored to your credit profile.
100% Digital Process
Apply, submit documents, and track your loan status online with ease.
Reasons To Get a Personal Loan of ₹3 Lakhs from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure a Personal Loan of ₹3 Lakhs. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of 84 months to ensure affordable EMIs for easy repayments. This makes the ₹3 Lakhs Personal Loan pocket-friendly.
Predictable EMIs
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments.
Quick Sanctions
Get the funds transferred to your account within 24 hours of applying for the loan.
Facility to add a co-applicant
Adding a co-applicant to the ₹3 Lakhs Personal Loan can increase your eligibility. You can also get a higher loan amount to meet different needs.
Interest Rates Available for
Personal Loans of ₹3 Lakhs
Find out the interest payable on the Personal Loan of ₹3 Lakhs to plan your repayments effectively.
Loans up to 12 months| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
Who Can Apply For a Personal Loan of ₹3 Lakhs?
Find out if you are eligible to apply for a ₹3 Lakhs Personal Loan
Salaried
Self-employed Professional
Self-employed Non - Professional
How to Apply for ₹3 Lakh Personal Loan?
Eligibility Criteria for Personal Loans of ₹3 Lakh
Are you eligible for a ₹3 Lakhs Personal Loan? Check whether you meet the criteria.
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
* A higher age limit is applicable at the time of loan maturity.
Fees and Charges for Personal Loans of ₹3 Lakh
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual, if applicable |
| Pre-closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual, if applicable |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
ABC Of Calculators
BALANCE TRANSFER LOAN
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Reduced Interest Rates. -
Lower Monthly Payments.
TOP UP LOAN
- Easy application process
- Borrow up to 80% of property value
Different financial needs, different loans, one app - ABCD
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs
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Quick sanctions and disbursals
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Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
FAQs on Personal Loans of ₹3 Lakh
Once the loan is sanctioned, changing the repayment terms of your Personal Loan of ₹3 Lakhs depends on the lender. The lender might allow a change in the repayment terms subject to certain terms and conditions. Moreover, a charge might be levied for the change.
Some factors that can lead to a rejection of a Personal Loan of ₹3 Lakhs are as follows -
• Non-fulfilment of the eligibility parameters
• Incomplete documentation
Yes, you can apply for a Personal Loan of ₹3 Lakhs for the funding needs of your business. The loan is sanctioned quickly to provide you with urgent funds.
There is no specified purpose for a Personal Loan of ₹3 Lakhs. You can use the loan for any financial need like weddings, travelling, medical emergencies, business needs, etc.
You can apply for a Personal Loan of ₹3 Lakhs for your business’s working capital needs. It is a multipurpose loan which does not restrict the usage of the loan funds.
The EMI of the ₹3 Lakhs Personal Loan will start after the loan is disbursed. The EMI date will be communicated to the borrower, and the EMI payments will start on the specified EMI date.
You can use the online EMI calculator to find the prospective EMI of the loan. The calculator is free of cost and calculates the EMI instantly when you enter the loan amount, repayment tenure, and the applicable interest rate.
A co-applicant is not mandatory for the loan application. It is voluntary, and you can add a co-applicant to increase your loan eligibility.
The minimum credit score required for a ₹3 Lakhs Personal Loan is 750. Since you have a higher score, you can apply for the loan if you fulfil the other specified eligibility parameters.
Yes, you can repay the outstanding loan before the repayment tenure ends. This is called loan foreclosure, and it is allowed after the first 12 months of loan disbursement. A charge would apply for such foreclosure.
An income proof is needed to get a ₹3 Lakhs Personal Loan. If you do not have a Salary Slip, you can submit any other income proof to secure the loan like Form 16, bank statements, etc.
No, you cannot get a Personal Loan of ₹3 Lakhs without income proof. The income proof is needed to establish your income eligibility and to check your repayment capacity.
You cannot get any loan without interest. Interest is payable on any type of loan that you take, including a ₹3 Lakhs Personal Loan.
The EMI would depend on the interest rate charged for the loan. The interest rate depends on your credit score and other eligibility parameters. So, find the interest rate payable for the loan and enter it in the EMI calculator with the repayment tenure and loan amount. The calculator will give you the EMI instantly.
You can apply for the loan online or offline by completing the application form and submitting the necessary documents. Your Aadhaar Card is one of the documents needed for the loan. Submit the other relevant documents too to get the loan.