Personal Loan – 3 Lakh Personal Loan With 675 CIBIL Score – Personal Loan 2024

Personal Loan

In 2024, personal loans continue to be a popular financial product for individuals seeking immediate funds to address various needs, from medical emergencies and education expenses to home renovations and weddings. Among the diverse personal loan options available, securing a loan up to ₹3 lakhs with a CIBIL score of 675 stands out due to its balance between accessibility and financial responsibility. This essay delves into the details of this personal loan option, covering its features, benefits, eligibility criteria, and practical considerations for potential borrowers.

Key Features of the Personal Loan

Loan Amount

The loan amount for this particular personal loan ranges from ₹20,000 to ₹3 lakhs. This flexibility caters to a wide range of financial needs. Whether you need a small amount to cover minor expenses or a larger sum for significant expenditures, this loan option provides a suitable solution.

Loan Tenure

The loan tenure for this personal loan ranges from 6 to 36 months. This range allows borrowers to choose a repayment period that best suits their financial situation. Shorter tenures mean higher monthly installments but less interest paid over time, while longer tenures result in lower monthly installments but higher total interest paid.

Interest Rates

The interest rates for this personal loan range from 18% to 26%. The rate offered to a borrower depends on several factors, including their credit score, income level, and overall financial profile. While the interest rates are relatively high compared to secured loans, they are competitive within the realm of unsecured personal loans.

Also Read…. Payme India – Without Collateral | Get 5 Lakh Personal Loan Within 5 Min

Processing Fees

A processing fee of 3.75% of the loan amount is charged. This fee covers the administrative costs associated with processing the loan application and disbursing the funds. It is essential for borrowers to factor in this fee when calculating the total cost of the loan.

Eligibility Criteria

To qualify for this personal loan, applicants must meet the following eligibility criteria:

  1. Age: Applicants must be between 21 and 55 years of age. This age range ensures that borrowers are in their prime working years and have the ability to repay the loan.
  2. Net Monthly Income: A minimum net monthly income of ₹25,000 is required. This criterion ensures that borrowers have sufficient income to manage their monthly installments and other financial obligations.
  3. Current Work Experience: Applicants must have at least 2 months of current work experience. This requirement demonstrates job stability and the ability to generate a steady income.
  4. Total Work Experience: A minimum of 2 years of total work experience is necessary. This criterion provides additional assurance of the borrower’s employment stability and career progression.
  5. Credit Score: Applicants must have a CIBIL score of 650 or above. A higher credit score indicates better creditworthiness and financial discipline, making it easier to secure a loan at favorable terms.


In conclusion, the personal loan option for securing up to ₹3 lakhs with a CIBIL score of 675 offers a valuable financial resource for individuals in need of funds. With flexible loan amounts and tenures, competitive interest rates, and a straightforward application process, this loan caters to a wide range of financial needs and situations. However, potential borrowers must approach the decision with careful consideration, assessing their financial needs, understanding the total cost of the loan, and ensuring they can manage the repayments effectively.

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Vineesh Rohini

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