3 Lakh Personal Loan

Need a Rs. 3 lakh personal loan instantly? SMFG India Credit offers easy-to-get personal loans that can help to fund emergency needs or any big-ticket expenses such as higher education for your children, a wedding or even a luxury vacation. A Rs. 3 lakh loan from SMFG India Credit is the perfect financing option that can be availed at minimal documentation.

Eligibility Criteria for a 3 Lakh Personal Loan

Before you make your application for a Rs. 3 lakh personal loan from SMFG India Credit, ensure that you have checked your personal loan eligibility. General parameters include:

• Be a citizen of India.
• Be between 22 and 65 years of age at the time of loan application.
• Be a salaried employee at a private or public enterprise or demonstrate a regular source of income for self-employed individuals.
• Have a minimum CIBIL score of 750.

You can use the personal loan calculator available on the SMFG India Credit website to assess your eligibility for your Rs. 3 lakh loan.

Documents Required For a Personal Loan of 3 Lakh

The documents required for a personal loan to be approved are:

• Duly fill in all the information on the application form which should be signed
• A photograph that is not older than 6 months
• Establish proof of identity via any one of the government-approved IDs like the Passport, Voter ID, Driving License, PAN Card
• Show proof of address through one of these documents using Driving License, Passport, Bank Passbook or Statement
• Demonstrate proof of income with the help of:
  • Salary slips and/or bank statements for 3 months for salaried employees
  • Bank statements and profit and loss statements for self-employed individuals or business owners
• Income tax returns for both salaried and self-employed individuals. Salaried employees will be required copies of their Form 16 too.

Fees and Charges for a 3 Lakh Personal Loan

Below is an overview of the fees and charges you can expect when availing a personal loan of Rs. 3 Lakhs from SMFG India Credit:

3 Lakh Personal Loan EMI Options for 1-5 Year Tenures

The EMI for Rs. 3 lakhs personal loan for different loan tenures at 13% rate of interest are - 1 year- ₹ 26,795, 2 year- ₹ 14,263, 3 year- ₹ 10,108, 4 year- ₹ 8,048, and 5 year- ₹6,826. Using our online personal loan EMI calculator, you can now calculate EMI accurately for loan tenure other than the loan tenures discussed here.

Disclaimer: These are approximate EMI calculations, actual numbers may vary.

Reasons to Apply for a 3 Lakh Personal Loan

A Rs. 3 lakh personal loan can be the ideal financial solution when you need quick access to funds without the hassle of collateral. Here are some key reasons why it could be the right choice for you:

• Manage Medical Expenses: Unexpected medical emergencies can arise anytime. A personal loan provides quick financial assistance to cover medical bills, treatments, or hospitalisation costs.
• Enhance Your Home: Whether it's a necessary repair, renovation, or a home improvement project, a Rs. 3 lakh loan allows you to upgrade your living space without depleting your savings.
• Streamline Your Finances: Consolidate multiple debts into a single manageable EMI, potentially at a lower interest rate.
• Support Educational Goals: Whether for school tuition, higher education, or professional courses, a personal loan helps secure learning opportunities for you or your child.
• Fund Memorable Experiences: Plan a vacation or family trip without straining your budget, allowing you to enjoy travel while managing your finances smartly.

Features and Benefits of a 3 Lakh Loan

Here’s what makes an SMFG India Credit personal loan of Rs. 3 lakh an attractive option:

• Straightforward Process: Apply for the loan online with minimal documentation requirements for a hassle-free experience.
• Repayment Tenure Flexibility: Choose a repayment period between 12 and 60 months, allowing you to adjust the EMIs to suit your financial needs.
• No Collateral: This is an unsecured loan, meaning you don’t need to pledge any assets – reducing the risk of asset loss in case of default.
• Competitive Interest Rates: Our interest rates start as low as 13%* per annum.
• Additional Benefits to Existing Users: Existing customers with a strong repayment history may qualify for preferential interest rates. Feel free to reach out to us to learn more.

How to Apply for a 3 Lakh Personal Loan from SMFG India Credit 

To initiate a personal loan application at SMFG India Credit, follow these directives:

1. Enter Essential Details

Provide your mobile number, PAN, pincode, and employment type (salaried or self-employed).

2. Verify Mobile Number via OTP

Complete the mobile number verification using a 6-digit OTP.

3. Complete the Profile Details

Fill in your email address, date of birth, gender, and annual household income information. Ensure email ID verification.

4. Submit Employment Particulars

Submit detailed employment data if you're a salaried employee.

5. Provide Bank Statements

You can share your bank statement through Net Banking, an Account Aggregator, or by uploading it. The details you provide will be used to generate a loan offer (applicable only to salaried individuals).

6. Verify Identity

Perform the digital identity verification steps and share address particulars through CKYC, Offline Aadhaar XML-based KYC, or DigiLocker. Please note that taking a selfie is necessary for completing identity verification.

7. Provide Bank Account Information

Enter your bank account information for our verification.

8. Proceed to the ‘Additional Details’ Section

Once your bank account is verified, you will be prompted to add more details in the 'Additional Details' section, including marital status, loan purpose, father's name, and mother's maiden name.

9. Choose Re-payment Mode and Finalise E-NACH

Select a re-payment method, opting for either a debit card or internet banking and complete the E-NACH process.

10. Digitally Review and Sign the Loan Agreement

Carefully review and digitally sign the loan agreement, validating it with an OTP.

Following these simple steps will aid you in reaching your financial objectives with a personal loan from SMFG India Credit.

Apply for a 3 Lakh Personal Loan Now!

A Rs. 3 lakh personal loan can be the bridge to achieving your financial goals without dipping into your savings or emergency fund. From urgent expenses or investing in a minor home renovation project to planning for personal milestones, SMFG India Credit provides tailored personal solutions with minimal documentation, competitive interest rates, and no hidden costs.

If you have more questions on how to get your Rs. 3 lakh personal loan sanctioned, simply call the customer service team on our toll-free number (1800 103 6001) or email us at  .

Apply for Personal Loan   Check Your Eligibility