Can I get personal loan on 14000 salary?

Most banks stipulate a minimum monthly salary of INR 15,000 – INR 20,000 for individuals to get a personal loan. However, those earning less than INR 15,000 can also get the loan.

Can I get a personal loan with 15000 salary?

It means a minimum of 15,000 salary is mandatory to avail a personal loan. The eligibility criteria are made simple with a minimum salary slab so that even the low salary income group can avail the benefit of personal loan. With 15,000 salary, borrowers can easily avail small cash loans ranging from 50,000 to 1,50,000.

What is the eligible salary to get personal loan?

Banks ask for a minimum income of ₹ 25,000 for a personal loan. However, some banks give loans for a salary less than ₹ 25,000. Your loan eligibility is calculated based on the ratio of your fixed obligations to your monthly income.

How much loan can I get on 12500 salary?

Here taking a salary as ₹ 25k, & without any fixed monthly obligation, you can pay a maximum of ₹ 12,500 as EMI considering 50\% FOIR. If the interest rate is 10\% per annum, the loan amount eligibility can be arrived at ₹ 13,73,026 using a home loan eligibility calculator (assuming 3 household members).

What is the maximum amount for a personal loan in India?

The maximum personal loan amount that can be sanctioned varies from lender to lender. The maximum unsecured loan amount mentioned by most banks is in the Rs. 20 lakh to Rs. 25 lakh, but some lenders offer unsecured loans of up to Rs. 50 lakh subject to various terms and conditions. Q6.

How much personal loan can you get on your salary?

A final, personal loan amount that you can get from a lender depends on your salary, city of residence, age and other eligibility criteria. The best thing to know how much personal loan you can get on your salary will be using the personal loan eligibility calculator.

What is a personal loan eligibility calculator?

Personal loan eligibility calculator is a handy tool that can help users figure out if they are eligible for a personal loan based on the inputs provided. The inputs that need to be provided may include desired loan amount, income level, city/town of residence, number of dependants, current total EMI payments each month and more.

What is the minimum salary required for a SBI personal loan?

Currently the minimum salary to be eligible for a SBI personal loan is Rs. 15,000. However, meeting the minimum salary criteria does not guarantee that your loan application will be approved. Q7. Are self-employed individuals eligible for a personal loan?