Can a salaried person get personal loan?

How much personal loan can a salaried get?

However, most banks and NBFCs limit a personal loan at Rs. 25 lakh to an individual. Lenders evaluate the monthly income of loan applicants and the potential growth in it before approving a loan. In most of the cases, individuals are eligible for a personal loan amount of up to 30 times of their monthly income.

Can a salaried person apply for loan?

Most top lenders in the country offer personal loans to salaried individuals as they have a steady source of income. Salaried individuals can avail personal loans up to Rs. 40 lakh at interest rates starting from 10.4%. The repayment tenure on these loans ranges between 12 months and 60 months.

Which loan is best for salary person?

Best Personal Loans for Individuals with Low Salaries

Bank Interest Rate Loan Tenure
Axis Bank 12% – 24% p.a. 12 to 60 months
State Bank of India 9.60% p.a. Up to 72 months
HDFC Bank 10.75% – 21.30% p.a. 12 to 60 months
HDB Financial Services Up to 36% p.a. 12 to 60 months
IT IS INTERESTING:  Are tax credits non refundable?

Can I get personal loan if my salary is 15000?

Income: In order to be eligible for a personal loan through a bank, you have to draw a minimum salary every month, which varies from bank to bank. But generally, if you are earning at least Rs. 15,000 every month, you will be eligible for a personal loan.

How much loan I can get if my salary is 60000?

However, if you are deliberating on the loan amount with how much loan I can get on a 60,000 salary, the approved amount should be close to Rs. 16.20 lakhs.

Multiplier Method.

Salary Expected Personal Loan Amount
Rs. 40,000 Rs. 10.80 lakhs
Rs. 50,000 Rs. 13.50 lakhs
Rs. 60,000 Rs. 16.20 lakhs

How much loan can I get on 35000 salary?

Here taking a salary as ₹ 35k, & without any fixed monthly obligation, you can pay a maximum of ₹ 17,500 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 20,46,586 using a home loan eligibility calculator (assuming 3 household members).

Who is eligible for personal loan?

Eligibility Criteria for Salaried

Criteria* Salaried
Age 23 years – 58 years.
Total years in job/profession 2 Years
Years in current residence 1 Year

How much personal loan can I get if my salary is 10000?

Banks such as SBI and Indian Overseas Bank provide personal loans to individuals who have lower income of Rs. 5000 per month. But the loan amount might be lower than you expected.

Personal Loan For Low Salary Less Than 10000.

IT IS INTERESTING:  Why do motels require credit cards?
Bank Minimum Monthly Income Required
Punjab National Bank Rs. 10,000
HDFC Bank Rs. 15,000
ICICI Bank Rs. 17,500

How much loan I can get if my salary is 25000?

25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.)

What is the minimum salary to get personal loan?

The minimum salary for a personal loan for salaried individuals is INR 25,000 per Month (for residents of Mumbai and Delhi) or INR 20,000 per Month (for all other locations).

How much loan can I get if my salary is 17000?

With a salary of ₹ 17,000, the maximum amount he is eligible for is ₹ 3.87 Lakh. The interest he has to pay for this amount for 48 months is 11.99%.

How can a poor person get a loan?

Personal Loan for Unemployed Person in India

  1. Gold Loan. If you are unemployed who is in urgent need of a loan, going for a gold loan is an ideal choice. …
  2. Education Loan. …
  3. Secured Loans. …
  4. Star Mahila Gold Loan Scheme. …
  5. Pradhan Mantri Mudra Yojana for Women. …
  6. Gold Loan. …
  7. Prime Minister Rozgar Yojana. …
  8. Loan Subsidy Scheme.