ओवरड्राफ्ट लोन क्या है? विशेषताएँ, लाभ और ब्याज दरें
Apr 23, 2026 | 4 mins read
If you're facing unexpected or planned financial requirements, a ₹3 Lakh Personal Loan can be a smart and flexible solution. Whether for medical emergencies, education, weddings, or business needs, this unsecured personal loan is available to both salaried and self-employed individuals. With quick approval, competitive interest rates, and easy documentation, getting an instant 3 Lakh loan has never been simpler.
The LT Finance Personal Loan EMI Calculator is a user-friendly online tool that helps you estimate your monthly EMI for a ₹3 Lakh personal loan. Just enter the loan amount, interest rate, and tenure to calculate your EMI instantly and manage your finances better.
Estimate your EMIs in a few simple steps
Preferred loan amount
Interest rate (per annum)
Loan tenure (months)
Estimated EMI
per monthInterest payable
₹52,41, 690Apply for Personal Loan with these steps
1. Apply online in just few minutes
Select Personal Loan and click the 'Apply Now' button to start your seamless digital loan journey.
2. Fill in your details
Enter your personal details, such as income details, current address, and more, to instantly check your Personal loan eligibility.
3. Get your customised offer
Explore personalised loan offers to match your needs. You may also get an option to enhance your offer.
4. Set up E-mandate
Securely provide your bank details to easily register for an E-mandate, ensuring smooth loan repayments.
5. Complete KYC
Verify your identity easily and securely with a quick KYC process from the comfort of your home.
6. Get loan disbursement
Get your loan disbursement directly in your bank account, ensuring fast and seamless access to funds.
Check your eligibility before applying for a ₹3 Lakh Personal Loan. At LT Finance, the eligibility criteria are simple and designed for both salaried and self-employed applicants.
| Type | Criteria |
|---|---|
| Residency | Indian resident |
| Age | 21 to 58 years |
| Profession | Salaried or self-employed individuals |
To apply for a ₹3 Lakh Personal Loan, keep your documents ready. The Documents Required for Personal Loan vary for salaried and self-employed applicants. Here's what you need to get started.
| Document Type | Required Documents |
|---|---|
| Identity Proof | Passport | PAN Card | Driver License | Voter ID | Aadhaar Card. |
| Address Proof | Utility bill of any service provider not more than 2 months old ( Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill) | Passport | Voter ID Card | Driving License. |
| Income Proof | Income proofs vary for different professionals across salaried and self employed. |
LT Finance offers ₹3 Lakh Personal Loans at competitive Personal Loan Interest Rates. Before applying, review all fees and charges to understand the total cost of your loan.
| Type | Interest Rate and Charges |
|---|---|
| Interest Rate: | Starting at 11%* p.a. |
| Loan Processing Fees (non-refundable): | Up to 4%* of Loan Amount + applicable taxes |
| EMI Dishonour/Bounce Charge* *A bounce charge is a charge for (i) dishonour of any repayment instrument; or (ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate | As shown in the table below |
| Sanctioned Loan Amount | Charges |
| < ₹ 5 Lakh | ₹ 500 |
| ₹ 5 Lakh - ₹ 30 Lakh | ₹ 1000 |
| Late Payment Charges (LPC)/ Penal Charges: | 2% per month on EMI overdue + applicable taxes LPC revised from 3% to 2% per month w.e.f. 4th Dec'23 Taxes applicable on LPC w.e.f. 1st Apr'24 |
| Part Payment Charges: | Up to 5% of pre-paid amount + applicable taxes |
| Foreclosure Charges: | 5% of Principal Outstanding (POS) + applicable taxes |
| Legal/ Recovery Charges: | As per actuals |
| Duplicate NOC Charges: | First 3 paper copies - free of cost From 4th Paper copy - ₹250 + applicable taxes |
| Repayment Swap charges (per swap): | ₹500 + applicable taxes (applicable only for branch walk-ins) |
| Loan Cancellation Charge: | Nil - for 3 days from date of disbursal From 4th day - 5%+ applicable taxes (on the outstanding loan amount) |
| Document Charges: | Nil for Statement of Account (SOA), Repayment Schedule, Foreclosure Letter, and Welcome Kit |
| Annual Maintainance Charges (AMC): | Nil |
*Terms & Conditions Apply. All actual charges will be as per Key Fact Statement (KFS) shared by the company.
When considering a ₹3 Lakh Personal Loan, knowing your monthly EMI is important for planning your finances. Using the EMI calculator for a ₹3 Lakh Personal Loan can help you choose the right repayment tenure. Assuming an interest rate of 19% p.a., here are the EMI amounts for different loan tenures:
| Loan Amount | Interest Rate (p.a.) | Tenure | EMI (approx.) |
|---|---|---|---|
| ₹ 3 Lakh | 11% | 1 year | ₹ 26,513 |
| ₹ 3 Lakh | 11% | 2 years | ₹ 14,009 |
| ₹ 3 Lakh | 11% | 3 years | ₹ 9,917 |
| ₹ 3 Lakh | 11% | 4 years | ₹ 8,004 |
| ₹ 3 Lakh | 11% | 5 years | ₹ 6,799 |
A good credit score increases your chances of approval. Applicants with limited credit history may be considered based on income and repayment capacity.
Use the EMI calculator to calculate the EMIs for your ₹ 3 Lakh Personal Loan.
It depends on your credit score, income and employment profile.
Use the 3 Lakh loan EMI calculator by entering your loan amount, tenure, and interest rate.
Once your application and documents are verified, L&T Finance can disburse the ₹3 Lakh loan within 24 to 48 hours. In many cases, customers with pre-approved offers receive instant disbursal directly into their bank account.
You need to provide ID proof, address proof and income proof for a ₹ 3 Lakh loan.
Yes, self-employed professionals and business owners can apply, provided they meet the income and credit eligibility criteria. Proof of business existence, income tax returns, and bank statements are generally required.
There is no salary requirement to avail a Rs. 3 Lakh Personal Loan with L&T Finance.
Yes, this is an unsecured personal loan, so you don’t need to pledge any security.
Opting for a 5-year tenure helps in reducing your monthly EMI amount, making repayment more comfortable. It offers greater financial flexibility, especially if you want to balance other monthly expenses while maintaining a healthy credit score.
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Personal Loan
I have upskilled myself and look forward to starting my own venture soon. Smooth process, disbursement in 15 mins of process completion. Extremely satisfied with the assistance of the Call Center.
Jasbir Kaur
Punjab
Personal Loan
I was aware of L&T Finance Consumer Loans, as I have already benefited from their services in the past. They had even clarified my doubts about T&C and loan process by calling me up at my convenient time. Because of such good support, I decided to take loan again from L&T Finance Personal Loans.
Chirag Mehta
Ahmedabad, Gujrat
Personal Loan
I spotted an L&T Finance Consumer Loans ad and applied. After my verification call, my request for loan was approved and the loan amount was transferred in the following 24 hours. L&T Finance Personal Loans provided me timely, financial help.
Vinod Bidlan
Andheri, Mumbai
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