Personal Loan of Rs. 3 Lakh
For any urgent need of funds, opt for Personal Loan from Axis Bank and easily meet your goals. Whether you need money for travel, education, managing medical bills, or upgrading your home, get the loan approved in a few seconds by
applying online and doing video KYC.
Enjoy attractive interest rates, adaptable monthly payments, and rapid approval processes with Axis Bank. Our streamlined online application ensures you get the financial support you need without any complications. Start your application
today!
3 Lakh Personal Loan EMI for 1 Year
Let us calculate 3 lakh Personal Loan EMI with the following details.
| Loan Amount (₹)
| 3,00,000 |
| Interest Rate (p.a.)
| 10.75% - 22% |
*considering 11% interest in the below scenarios.
Break up for a Personal Loan of 3 Lakh EMI for 1 year will be:
| Equated Monthly Instalments (EMI in ₹) | 26,514 |
|---|
| Principal Amount (₹) | 3,00,000 |
| Interest Amount (₹) | 18,174 |
| Total Amount Payable (₹) | 3,18,174 |
3 Lakh Personal Loan EMI for 3 Years
If you plan to take a 3 lakh Personal Loan for 3 years, the EMI will be:
| Equated Monthly Instalments (EMI in ₹) | 9,822 |
|---|
| Principal Amount (₹) | 3,00,000 |
| Interest Amount (₹) | 53,578 |
| Total Amount Payable (₹) | 3,53,578 |
3 Lakh Personal Loan EMI for 5 Years
For a 3 lakh Personal Loan EMI for 5 years, you will have to pay:
| Equated Monthly Instalments (EMI in ₹) | 6,523 |
|---|
| Principal Amount (₹) | 3,00,000 |
| Interest Amount (₹) | 91,364 |
| Total Amount Payable (₹) | 3,91,364 |
How to apply for 3 Lakh Personal Loan online at Axis Bank?
- Navigate to the Axis Bank Personal Loanapplication page.
- Input your contact details and choose verification via Date of Birth or PAN.
- Validate your identity with the OTP sent on your mobile phone.
- Prepare and upload your bank statements and salary slips from the last six months or verify income online
- Complete eKYC and Video KYC for instant loan approval.
- Verify your Aadhaar by entering the OTP received on your linked mobile number.
- Fill in essential details about your employment and educational background.
- Select your desired loan amount up to Rs 300,000 and repayment term, then review interest rates and 3 lakh Personal Loan EMI options.
- Reconfirm your employment address and verify your official email.
- Click "continue" and then "avail now" to complete the application.
- Await a confirmation message about your loan approval.
- Once your loan is approved, funds will be deposited into your bank account in just a few hours.
Eligibility Criteria to get Personal Loan up to Rs 3 Lakh
For a Rs 3 lakh loan from Axis Bank, the eligibility criteria are as follows:
- The applicant should be within the age range of 21 to 60 years.
- A minimum monthly income of Rs 15,000 if you are an existing Axis Bank customer or Rs 25,000 if you are a non-Axis Bank customer.
- This loan option is exclusively available to individuals who are salaried employees.
- A minimum CIBIL score between 720 and 750 is advisable.
Documents Required for a loan of Rs 3 Lakh
- Bank statements from the last three months.
- The three most recent payslips alongside the latest Form 16.
- One of the following KYC documents is needed:
- Passport
- Driving Licence
- PAN Card
Additional Documents for Salaried Individuals
- Proof of employment: This could be an offer letter from your job, an employee ID, or a salary slip.
Rs 3 Lakh Personal Loan Fees & Charges
Fees and Charges to avail a loan for Rs 3,00,000
| Type of Charges
| Charges |
|---|
| Repayment instruction / Instrument return charges | Rs 339/- per instance of dishonour of cheque /SI/ECS/NACH debit instruction + GST as applicable |
| Swap charges (Cheque/Instrument) | Rs 500/- per instance + GST as applicable |
| Penal Interest | @24% per annum i.e. 2% per month on the overdue instalment. |
| Duplicate statement issuance charges | Rs 250/- per instance per set + GST as applicable. |
| Duplicate Amortisation schedule issuance charges | Rs 250/- per instance per set + GST as applicable. |
| Credit Information Companies (CICs) Report Issuance Charges | Rs 50/- per instance per set + GST as applicable. |
| No Dues Certificate generation charges (Duplicate) | Rs50 per instance per set + GST as applicable. |
| Stamp Duty Charges | As per State Stamp Act |
| Part Payment / Pre-Payment Charges | 5% + GST (as applicable) For loans disbursed 4th October, 2023 onwards: Fee for more than 36 months, 2% fee is applicable otherwise 3% |
| Processing fee charges | up to 2% of the loan amount + GST as applicable |
