A ₹30 lakh unsecured loan is available from a narrower set of lenders and generally needs a net monthly income above ₹2 lakh with a listed employer. At this size, compare seriously against a loan against property — the rate difference compounds into lakhs.
EMI on a ₹30 Lakh personal loan
At an indicative rate of 11.5% a year, here is what a ₹30 Lakh loan costs across the tenures lenders commonly offer. The longer tenure always shows the smaller EMI and the larger total cost.
| Tenure | Monthly EMI | Total interest | Total payable |
|---|---|---|---|
| 2 years | ₹1,40,521 | ₹3,72,503 | ₹33,72,503 |
| 3 years | ₹98,928 | ₹5,61,409 | ₹35,61,409 |
| 4 years | ₹78,267 | ₹7,56,817 | ₹37,56,817 |
| 5 years | ₹65,978 | ₹9,58,669 | ₹39,58,669 |
| 6 years | ₹57,873 | ₹11,66,890 | ₹41,66,890 |
| 7 years | ₹52,159 | ₹13,81,388 | ₹43,81,388 |
Change the rate and tenure to your own numbers in the personal loan EMI calculator.
What income do you need?
Lenders cap total EMIs at roughly 50% of net monthly income. On a 6-year tenure the EMI is ₹57,873, which implies a net income of about ₹1,15,747 a month with no other loans running. If you already pay other EMIs, add those to the requirement.
Eligibility
- Aged 21 to 60, salaried or self-employed with documented income
- Net monthly income above ₹1,20,000, higher in metro cities
- Credit score of 750 or above for the best rates; 700+ for approval
- At least 6 months with your current employer, or 2 years of business vintage
Documents
- PAN and Aadhaar
- Last 3 months salary slips, or 2 years of ITR if self-employed
- Last 6 months bank statements