Indian Bank Personal Loan of 3 lakh

Break free from the grip of unexpected expenses! Indian Bank's personal loan solution. Designed specifically for needs up to ₹3 lakh, it can be your financial lifeline. Whether it's a pressing medical bill, a sudden car repair, or that dream home improvement project, this loan offers the flexibility you deserve.  It's time to breathe easy and focus on what matters most: knowing Indian Bank has your back.

Personal Loan Options For 3 Lakh In Indian Bank

• Salary Loan (Clean Loan): This is the most relevant option mentioned for a personal loan.
• Education Loan – Subsidy Schemes: This loan has a government subsidy component for educational purposes.
• Loan / OD against Deposits: This loan or overdraft facility is secured by your term deposits with the bank.
• Reverse Mortgage: This loan targets senior citizens.
• IB Vehicle Loan: This loan is specifically designed to finance the purchase of a new or used car or two-wheeler.
• Ind Mortgage: The bank offers a more general mortgage loan product.
• IB Plot Loan: This loan seems to be for financing the purchase of a plot of land.
• IB Home Loan: This is the bank’s broader home loan product.
• IB Pension Loan: This loan caters to pensioners to meet their financial needs.
• IB Home Improve: This loan is designed for existing home loan borrowers who want to renovate or improve their property.
• IB Home Loan Plus: This might be an add-on product or variation of the regular home loan.
• Loan / OD against NSC / KVP / Relief bonds of RBI / LIC policies: This allows you to take a loan or overdraft using certain investment instruments, such as National Savings Certificates (NSC), Kisan Vikas Patra (KVP), etc., as security.
• IB HOME ADVANTAGE and IB HOME ENRICH: This is another variation of a home loan product with specific features.
• IB Education Loan (IBA): The bank offers another education loan option in collaboration with the Indian Banks’ Association (IBA).
• Jewel Loan: This loan allows you to borrow money using your gold jewellery as security.
• OD against Gold Jewels: This product offers an overdraft facility.
• IB Loan against Sovereign Gold Bond: This loan allows you to borrow money using Sovereign Gold Bonds issued by the RBI as security.
• Loan for Purchase of “Van / Minibus / Bus / Ambulance”: This loan is for institutions or firms to finance the purchase of vehicles such as vans, minibuses, buses, or ambulances.
• LOAN AGAINST LEASE RENTALS: This loan allows businesses to borrow money using their lease rental income from commercial properties as security.

Features Of Bank 3 Lakh Personal Loan

The features of a ₹3 lakh personal loan from Indian Bank include:

• Competitive interest rates.
• Flexible repayment options, up to 7 years.
• Get a loan of up to 20 times the monthly GROSS salary
• Quick processing, with the potential for in-principal approval instantly online.
• An unsecured loan, not requiring collateral. But do need a co-applicant.
• Requires basic documentation like ID proof, address proof, income proof, etc.
• Option to apply online for convenience.
• It can be used for various personal needs, from home renovation to travel expenses.

Can I Get a 3 Lakh Personal Loan Instantly From Indian Bank?

Indian Bank’s personal loan process for qualified applicants is fast. While approval can be obtained instantaneously online, money can take a while to section. Upon final approval and verification,  funds can be disbursed within 3 business days. 

What Is The EMI For 3 Lakh Loan?

Eligibility Criteria 3 Lakh Loan In Indian Bank

 Eligibility for a 3 lakh loan at Indian Bank involves:

• Indian resident
• Age: 21 to 60 years for salaried, 23 to 65 years for self-employed
• Stable income; for salaried, employed for a minimum period (often 1-2 years), and for self-employed, a steady business record
• Take-home pay after EMI should be at least 40% of your gross salary (this might vary).
• Good credit score (above 650 is recommended)

Documents Required 3 Lakh Indian Bank Loan

For a ₹3 lakh personal loan from Indian Bank, you need:

• Identity proof (Aadhaar/PAN card)
• Address proof (Utility bill/Passport)
• Salary slips (last 3 months for salaried)
• Bank statement (last 6 months)
• ITR/Form 16 (last 2 years for self-employed)
• Proof of profession/employment
• Authorization to debit SB account / ECS / NACH mandate.

How To Apply For 3 Lakh Personal Loan From Uban Money?

Get your 3 Lakh Indian bank personal loan quickly with Urban Money’s easy application process:

• Click the link we provided to visit our website’s personal loan section.
• Look for the “Indian Bank Personal Loan” option and click “Apply Now.”
• Enter your basic details like name, phone number, and city. Then, confirm your phone number with a one-time code (OTP).
• Once you submit the form, you’re all set! An Urban Money representative will contact you to collect any required documents.