How to Get 3 Lakh Loan
21 Oct 2021

How to Get 3 Lakh Loan

Get a paperless Personal Loan of INR 3 Lakh Loan in minutes. Find out how.

Key Takeaways

  • Personal Loans are efficient and come in handy when you need funds in emergencies.
  • These loans are unsecured, and you are not required to pledge collateral.
  • Your eligibility depends on your income, creditworthiness, and ability to repay the loan.
  • Unsecured Loans get approved and disbursed quickly.
  • You can repay the loan over flexible tenures lasting up to five years with easy Equated Monthly Instalments.

We cannot foresee or predict the future. Any instance or circumstance can place us in a financial emergency, where we may need access to instant cash. We may also need funds to fix sudden damages on our properties or buy equipment for business operations. Let us say you are faced with any one of these emergencies and need 3 lakhs loan urgently. How do you get one? The answer is obvious – You can get a Personal Loan. Find out how you can get an instant 3 Lakh Personal Loan in this article.

How to Get 3 Lakh Loan

To get a Personal Loan, you must fulfil the lenders’ eligibility criteria. You should be at least 21 years old, but not older than 60 years. You also need to be a salaried or self-employed individual with a regular source of income and an excellent credit score. A good credit score is critical since Personal Loans are unsecured loans, which means the lender does not ask you to pledge any collateral. You can check your Personal Loan eligibility with an online Personal Loan EMI Calculator.

Reasons to Opt for a Personal Loan

As mentioned earlier, Personal Loans help you pay for financial emergencies. Moreover, you can avail of INR 3 lakh Personal Loan without worrying about paperwork and other documentation formalities. The lender only asks for your ID and address proof and PAN card for KYC verification purposes. Banks typically sanction loan applications quickly and disburse the loan amount instantly for borrowers with good credit repayment behaviour. You can repay your loan in flexible tenures lasting from 1 to 5 years. In the case of pre-approved Personal Loans, the bank credits the amount in your savings account within 24-48 hours.

Personal Loan Interest Rates and Other Charges

The interest rates charged on your INR 3 lakh personal loan differs from bank to bank. It also depends on the repayment tenure you choose, which in turn depends on how you handled debt and credits in the past and your current credit score. Banks typically levy a one-time loan processing fee and applicable taxes. You may have to pay additional charges for late EMI payments, pre-payment or premature closure charges. Remember to browse through the terms and conditions for the detailed schedule of charges.

Some banks also allow you to cancel the loan under a 48-hour freelook period. In such a case, you must forfeit the non-refundable loan processing charges. The bank debits the entire loan amount from your account, provided you place a cancellation request within 48 hours.


You can use your 3 Lakh Personal Loan amount for any purpose like planning a wedding, a vacation or even funding a medical emergency. If you require money urgently, a Personal Loan can prove to be the answer to your worries. With no collateral and paperless approval procedures, you can use a Personal Loan to fund any expense, no questions asked.

Download the digibank mobile app on your smartphone. Launch the app and click on the "Get Personal Loan" link on the login page.

*Disclaimer: This article is for information only. We recommend you get in touch with your income tax advisor or CA for expert advice.