30000 Personal Loan
During any kind of financial emergency, such as medical treatment, marriage, higher education, travel, etc., you may need immediate funds. Seeking the help of family and friends is the first thing most people prefer in times like these. However, what if they are unable to help you? You can always take a short-term ₹30,000 personal loan from any online lender to meet your sudden financial requirement.
Top Ten ₹30,000 Instant Loan Apps – Compare & Apply
If you need a ₹30000 loan immediately, here is the list of the top 10 ₹30000 loan apps in India for you:
| App | Loan Amount | Starting Interest Rate |
|---|---|---|
| FlexSalary | ₹500 - ₹3 Lakhs | 18.00% p.a. |
| Stashfin | ₹1,000 - ₹5 Lakhs | 11.99% p.a. |
| MoneyTap | ₹3,000 - ₹5 Lakhs | 13.00% p.a. |
| KreditBee | ₹1,000 - ₹5 Lakhs | 12.00% p.a. |
| PaySense | ₹5,000 - ₹5 Lakhs | 16.00% p.a. |
| LoanTap | ₹3,000 - ₹5 Lakhs | 12.00% p.a. |
| IIFL | ₹5,000 - ₹5 Lakhs | 12.75% p.a. |
| SmartCoin | ₹1,000 - ₹5 Lakhs | 18.00% p.a. |
| Moneyview | ₹3,000 - ₹10 Lakhs | 14.00% p.a. |
₹30,000 Loan EMI for 12 Months
The easiest and fastest method to calculate the EMI for a 30000 loan is by using the online EMI Calculator. You can adjust the inputs to get the most affordable EMI.
Here’s an illustration of a ₹30000 instant loan EMI calculation using the online personal loan EMI calculator:
Loan Details:
- Loan amount required: ₹30,000
- Interest rate applicable: 13% p.a.
- Tenure: 12 months
EMI Calculation:
- Principal loan amount: ₹30,000
- Interest rate: ₹2,154
- EMI per month: ₹2,680
- Total amount payable: ₹32,154
The amortisation table for a personal loan of ₹30,000 for a 12-month tenure at a 13% p.a. interest rate will be as follows:
| Month | Opening Balance | EMI Paid | Interest Paid | Principal Repaid | Closing Balance |
|---|---|---|---|---|---|
| Jan | ₹ 30000 | ₹ 2,680 | ₹ 325 | ₹ 2,355 | ₹ 27,645 |
| Feb | ₹ 27,645 | ₹ 2,680 | ₹ 299 | ₹ 2,380 | ₹ 25,265 |
| Mar | ₹ 25,265 | ₹ 2,680 | ₹ 274 | ₹ 2,406 | ₹ 22,860 |
| Apr | ₹ 22,860 | ₹ 2,680 | ₹ 248 | ₹ 2,432 | ₹ 20,428 |
| May | ₹ 20,428 | ₹ 2,680 | ₹ 221 | ₹ 2,458 | ₹ 17,970 |
| Jun | ₹ 17,970 | ₹ 2,680 | ₹ 195 | ₹ 2,485 | ₹ 15,485 |
| Jul | ₹ 15,485 | ₹ 2,680 | ₹ 168 | ₹ 2,512 | ₹ 12,973 |
| Aug | ₹ 12,973 | ₹ 2,680 | ₹ 141 | ₹ 2,539 | ₹ 10,434 |
| Sep | ₹ 10,434 | ₹ 2,680 | ₹ 113 | ₹ 2,566 | ₹ 7,867 |
| Oct | ₹ 7,867 | ₹ 2,680 | ₹ 85 | ₹ 2,594 | ₹ 5,273 |
| Nov | ₹ 5,273 | ₹ 2,680 | ₹ 57 | ₹ 2,622 | ₹ 2,651 |
| Dec | ₹ 2,651 | ₹ 2,680 | ₹ 29 | ₹ 2,651 | ₹ 0 |
Alternatively, you can also use the following formula to calculate the EMI for a 30000 loan through a 30000 instant loan app:
E = P x R x (1+R)^N / [(1+R)^N-1],
Where:
- E = Loan EMI amount
- P = The amount to be borrowed from the lender
- R = Monthly rate of interest
- N = Number of months of EMI payment
Common Uses for a ₹30,000 Personal Loan
If you need a 30K loan. Below are some common uses of a ₹30,000 personal loan:
- Paying for unexpected medical expenses, including doctor visits, medications, minor medical procedures, and bridging the gap between insurance reimbursements and payments.
- Home repairs like fixing a leaking roof, plumbing issues, electrical repairs, etc.
- House maintenance, including painting, pest control, etc.
- Education-related expenses, including paying for short-term courses/ skill development programs, covering fees for tuition/ coaching classes, online certifications, and so on.
- Booking last-minute train/ flight tickets.
- Financing a weekend getaway or a small trip.
- Gadget or appliance purchase.
- Managing EMI down payments.
- Paying off high-interest credit card debt/ informal borrowings.
- Covering costs for small celebrations, including buying gifts, clothes, décor, etc.
- Vehicle repairs or maintenance
- Buying raw materials, tools, or other crucial things for your business.
- Emergency fund top-up
Eligibility Criteria for a ₹30000 Loan
If you are thinking ‘I need 30,000 rupees loan urgently’, you have to meet the following eligibility criteria first:
- Age: You must be aged above 21 years and less than 60 years.
- Citizenship: Indian residents are eligible for a personal loan of 30,000.
- Occupation: Although most lenders offer a ₹30000 personal loan to salaried individuals, some lenders offer an instant loan of ₹30K to self-employed individuals as well.
- Income: The minimum salary requirement for a 30,000 loan usually starts from ₹15,000 per month.
- Credit score: A credit score of at least 600 is required. A few lenders may also offer a 30000 loan without CIBIL score.
Documents Required for a ₹30K Loan
Below are the documents required to apply for a personal loan of 30,000:
Salaried Applicants
- Proof of identity & address: Aadhar Card/ Passport/ Ration Card/ Voter ID Card/ PAN Card/ Driving License/ Utility Bills of at least the last 3 months.
- Proof of income: Salary account bank statements of the last 6 months, recent 3 months’ salary slips, and ITR/Form 16. A few online lenders may also extend a 30,000 loan without income proof.
Self-employed Applicants
- Proof of identity & address: Voter ID/ Passport/ Ration Card/ PAN Card/ Aadhaar Card/ Driving License/ Utility Bills of at least the last 3 months.
- Business proof: Form 26AS, Income Tax Challan or TDS certificate (Form 16A) for income tax declared.
- Proof of income: Bank account statements for the last 3 years, ITR of the last 2 years with P&L statement, balance sheet & income computation of the last 2 years.
How to Apply for a ₹30000 Loan Immediately
If you need a 30000 loan urgently, the best way to get it is by applying online. Follow the steps given below to apply instantly:
- Open our portal and visit the personal loan page.
- Select your preferred lending partner.
- Click on the ‘Apply Now’ button and fill in the online application form.
- After the initial assessment of your personal loan eligibility, you will be asked to upload some documents.
- Once the details submitted by you are verified, you will get instant loan approval from the chosen lender.
- On approval, funds will be disbursed directly to your bank account.
FAQs
The best way to get a ₹30,000 loan immediately is by applying online through our platform or the lender’s website/ mobile app. Just keep your documents ready and complete the application procedure online. Once your request is approved, the loan will be credited to your bank account immediately.
Short-term personal loans of ₹20,000 are usually offered by online lenders like Navi, Faircent, PaySense, KreditBee, IIFL, CASHe, Fibe, FlexSalary, Money View, MoneyTap, and so on.
Yes, many apps offer a personal loan of ₹30,000 instantly, including FlexSalary, Stashfin, MoneyTap, KreditBee, PaySense, LoanTap, IIFL, SmartCoin, Moneyview, and so on.
No, almost every lender requires applicants to submit some documents. The facility of getting an instant 30000 loan without documents is not available at present.
mPokket, PaySense, Home Credit, CASHe, and Zype are some of the apps that give ₹30,000 loans without CIBIL checks.
A few lenders, including Prefr, L&T Finance, etc,. may offer a 30000 loan without salary slip or other income proof documents.
To get a ₹30K loan, you should have a credit score of 750 or above.
Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.
Abhijeet Singh has comprehensive experience in business writing, content management, SEO, social media and user analytics. Key areas of expertise include stock markets and personal finance.