30 Lakh Personal Loan
A 30 Lakh loan can come to your rescue during any financial emergency like medical expenses, a sudden trip abroad, planning a wedding, college fee payment, etc. Many banks, NBFCs and other financial institutions offer a personal loan of Rs. 30 Lakhs in India at interest rates starting from 10% p.a. and repayment tenures up to 5 years. You can apply for these loans online and also calculate your EMI, using the 30 Lakhs personal loan EMI calculator.
Best Banks & NBFCs Offering ₹30 Lakh Loan
Below are the top lenders in India that offer 30 lakh personal loans, along with their personal loan interest rates and other features:
| Bank/NBFC | Loan Amount | Rate of Interest | Processing Fee | Maximum Tenure |
|---|---|---|---|---|
| ICICI Bank | Rs. 50,000 - Rs. 50 Lakhs | 10.85% - 16.65% p.a. | Up to 2% of the loan amount + applicable taxes | 72 months |
| HDFC Bank | Rs. 50,000 - Rs. 40 Lakhs | 10.85% - 24% p.a. | Up to Rs. 6,500 + GST | 60 months |
| SBI | Rs. 1 Lakh - Rs. 35 Lakhs | 11.45% - 14.60% | Nil till 31st January 2025 | 84 months |
| Kotak Mahindra Bank | Rs. 50,000 - Rs. 35 Lakhs | 10.99% - 16.99% p.a. | Up to 5% of the loan amount + taxes | 72 months |
| Yes Bank | Rs. 50,000 - Rs. 50 Lakhs | 11.25% - 21% p.a. | Up to 2.5% of the loan amount | 72 months |
| Axis Bank | Rs. 50,000 - Rs. 40 Lakhs | 11.1% - 22% p.a. | Up to 2% of the loan amount + GST | 84 months |
| HSBC | Rs. 75,000 - Rs. 30 Lakhs | 10.15% - 16% p.a. | Up to 2% of the loan amount | 60 months |
| Tata Capital | Rs. 40,000 - Rs. 35 Lakhs | 11.99% - 29.99% p.a. | Up to 5.5% of the loan amount + GST | 72 months |
| Bajaj Finserv | Rs. 20,000 - Rs. 55 Lakhs | 16% - 31% p.a. | Up to 3.93% of the loan amount | 96 months |
| L&T Finance | Rs. 50,000 - Rs. 30 Lakhs | 11% p.a. onwards | Up to 3% of the loan amount + applicable taxes | 72 months |
| Aditya Birla Capital | Rs. 1 Lakh - Rs. 40 Lakhs | 10% - 32% p.a. | Up to 4% of the loan amount | 84 months |
Benefits of 30 Lakh Personal Loan
Following are some of the benefits of taking a personal loan of 30 lakhs:
- Being an unsecured credit, applying for a personal loan does not require any collateral/security.
- The documents can be easily uploaded online for faster approval.
- If you are a pre-approved customer, you can get a personal loan of Rs. 20,00,000 with zero or minimal documents.
- You can calculate your 30 lakh loan EMI instantly using the online personal loan EMI calculator.
- The approved loan amount is instantly disbursed to your account.
- An instant personal loan takes less processing time than regular loans.
- You can get a flexible repayment tenure of 12 to 96 months.
- These loans are offered at interest rates starting at just 10% p.a.
₹30 Lakh Personal Loan EMI Table (1–10 Years)
Below is the EMI calculation for a 30 Lakh personal loan for 10 years tenure at an interest rate of 10% p.a. in a tabular format:
| Loan Amount | Tenure | Monthly EMI (Approx.) |
|---|---|---|
| ₹30 Lakh | 1 year | ₹2,63,748 |
| ₹30 Lakh | 2 years | ₹1,38,435 |
| ₹30 Lakh | 3 years | ₹96,801 |
| ₹30 Lakh | 4 years | ₹76,086 |
| ₹30 Lakh | 5 years | ₹63,741 |
| ₹30 Lakh | 6 years | ₹55,578 |
| ₹30 Lakh | 7 years | ₹49,803 |
| ₹30 Lakh | 8 years | ₹45,522 |
| ₹30 Lakh | 9 years | ₹42,237 |
| ₹30 Lakh | 10 years | ₹39,645 |
₹30 Lakh Personal Loan EMI for 5 Years
EMI calculation for a ₹30 lakh personal loan at 10% interest (5-year term), including total interest and repayment.
- Loan Amount: ₹30,00,000
- Rate of Interest: 10% p.a.
- Loan Tenure: 5 years
- Monthly EMI: ₹63,741
- Total Interest: ₹8,24,468
- Total Repayment: ₹38,24,468
₹30 Lakh Personal Loan EMI for 10 Years
EMI calculation for a ₹30 lakh personal loan at 10% interest (10-year term), including total interest and repayment.
- Loan Amount: ₹30,00,000
- Rate of Interest: 10% p.a.
- Loan Tenure: 10 years
- Monthly EMI: ₹39,645
- Total Interest: ₹17,57,400
- Total Repayment: ₹47,57,400
30 Lakhs Personal Loan EMI Calculator
Lenders use the formula mentioned below for 30 Lakh EMI calculation:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
- P = Principal loan amount
- N = Loan tenure in months
- R = Monthly interest rate
The personal loan EMI depends on the principal loan amount, 30 Lakh loan interest per month or annum, and tenure of repayment.
For example, the EMI for a personal loan of Rs. 30 Lakhs for 5 years tenure at 10% p.a. interest rate, the EMI will be Rs. 63,741. However, a 30 Lakh loan EMI for 10 years, at an interest rate of 11% p.a. will be Rs. 41,325.
This calculation can be done faster using the Personal Loan EMI Calculator available online.
30 Lakh Personal Loan Eligibility Criteria
Below are some common eligibility criteria for a personal loan of Rs. 30 Lakhs:
- Minimum age limit: At least 21 years
- Nationality: Indian
- Occupation: Salaried employee or self-employed individual
- Income: Minimum monthly income of Rs. 15,000
- Credit score: At least 700
Documents Required for 30 Lakhs Loan
The list of documents needed for a personal loan of Rs. 30 Lakhs is mentioned below:
Documents for Salaried Applicants
- Identity & address proof: Aadhaar Card/ Driver’s License/ Passport/ PAN Card/ Voter ID Card/ Ration Card/ Utility Bills (not older than 3 months)
- Income proof: Statements of salary account for the last 6 months, salary slips of the last 3 months, and ITR/Form 16
Documents for Self-employed Applicants
- Identity & address proof: Aadhaar Card/ Driver’s License/ Passport/ PAN Card/ Voter ID Card/ Ration Card/ Utility Bills (not older than 3 months)
- Income proof: Bank account statements for the last 3 years, ITR of the last 2 years along with P&L Account Statement, balance sheet, and income computation of the last 2 years
- Business proof: Form 26 AS, Income Tax Challan/ TDS certificate (Form 16A) for income tax declared
How to Apply for a ₹30 Lakh Personal Loan
I need 30 Lakh rupees urgently - if you are thinking this, below are the easy steps to follow for 30 Lakhs personal loan application online:
- Open the personal loan page on our portal and select your preferred personal loan partner based on your requirements.
- Click the ‘Apply Now’ button and then complete the online application by mentioning some basic details.
- After conducting a pre-assessment of your loan eligibility, the preferred lender will require you to upload some documents for the loan.
- After successfully verifying the details submitted by you, your loan request will be approved by the preferred lender and the loan amount will be disbursed to your bank account.
FAQs
It is not practically possible to field a personal loan of 30 lakhs without any documents. However, you can look for lenders that provide personal loans with minimal documentation. You can also approach someone you know who would provide a personal loan of up to 30 lakhs without documents.
To get a 30 lakhs personal loan without income proof, contact your lender personally and discuss why you cannot provide income proof at the moment. You can also consider applying with a co-applicant to increase your loan approval chances.
The EMI for 30 lakhs personal loan in SBI depends on the interest rate and tenure. For example, if you take a 30 lakh loan for 5 years at 11.45% p.a. interest rate, the EMI will be Rs. Rs. 65,903. However, the 30 lakh loan EMI for 3 years tenure at same interest rate will be Rs. 98,857.
You can get a 30 lakh personal loan by applying online on the lender’s website/ app or our portal, by visiting the nearby branch of the lender or by calling the customer card team of the lender.
The 30 lakh loan is offered at an annual interest rate starting from 10% p.a.
Indian salaried or self-employed resident aged at least 21 years, earning a minimum monthly income of Rs. 15,000 and having a credit score of at least 700.
The minimum salary required for a 30 lakh loan is at least Rs. 15,000 per month.
30 Lakh loan EMI for 5 years repayment tenure varies depending on the applicable interest rate. For example, EMI for 30 lakh loan for 5 years at 10% p.a. interest rate would be Rs. 63,741.
EMI for a 30 lakh personal loan for 10 years repayment tenure varies depending on the applicable interest rate. For example, EMI for 30 lakh loan for 10 years at 11% p.a. interest rate would be Rs. 41,325.
30 Lakh loan EMI for 15 years repayment tenure varies depending on the applicable interest rate. For example, EMI for 30 lakh loan for 15 years at 10% p.a. interest rate would be Rs. 32,238.
EMI for a 30 lakh personal loan for 20 years repayment tenure varies depending on the applicable interest rate. For example, EMI for 30 lakh loan for 20 years at 12% p.a. interest rate would be Rs. 33,033.