Key Features of the ₹3 Lakh Loan
Online Loan Processing
Seamless Loan Application
Digital Paperwork
No Need for Collateral
Affordable Interest Rate & Flexible Tenure
Factors Responsible for ₹3 lakh Personal Loan Interest Rate
The interest rate for ₹3 lakh loan typically starts from 12.99*%pa, and the maximum repayment tenure is five yea₹The interest rate on ₹3 lakh personal loan depends on your income, employment type, work experience, and age.
Age:
The minimum age required to apply for a personal loan is 21 years and the maximum age at which a person can apply for an instant personal loan is set to be 58 yea₹If you’re a younger applicant, your ability to repay the loan will be higher than any old applicant. Thus, a younger applicant gets entitled to a lower interest rate than any older applicant.
Credit Score:
We prioritize applicants with a credit score of 700 or above more than other applicants. However, if you have a low credit score, you can always improve it.
Employment Status:
Employees working in public sector and private sector companies consider salaried employees eligible for an instant personal loan. Individuals with higher income certainty and job stability are given more priority and offered lower interest rates than others.
Work Experience:
A salaried individual with a minimum of two years of work experience is considered highly eligible for a ₹3 lakh loan. The more your work experience, the more your capability to repay the loan, and the lesser your interest rate.
Different Types of Personal Loans
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The processing time for ₹3 lakh personal loan at Piramal Finance is 24 hours. After the loan documents are verified and approved, we will process the loan within 24 hours.
Your credit score plays an influential role in deciding your eligibility criteria for an instant loan. If your credit score is 700 or above, you can easily get ₹3 Lakh Loan.
You can get an instant ₹3 lakh loan on your Aadhar and PAN card. We also provide real-time KYC document verification.
Yes, you can foreclose or prepay the loan anytime during the loan tenure. We offer Zero foreclosure or prepayment charges at Piramal Finance.
The EMI depends on various factors, such as tenure and interest rate. You can use our Personal Loan EMI calculator to calculate the exact EMI required for the loan. The approximate EMI at an interest rate of 12.99%* is as below –
| Tenure Approximate Monthly EMI |
|---|
| 1 Year 26,794 |
| 2 Years 14,261 |
| 3 Years 10,107 |
| 4 Years 8,047 |
| 5 Years 6,824 |
Piramal Finance offers a simple and convenient ₹3 Lakh Loan application process involving minimal documentation requirements. People choose it because we approve loans fast, helping you meet urgent needs easily.
