Question: How Much Personal Loan Can I Get If My Salary Is 15000?

How much loan can I get on 16000 salary?

The maximum loan amount may range between 8 to 10 times your monthly income.

Henceforth, you may become eligible for a maximum loan amount of Rs.

1,60,000 which can be repaid in a tenure that is comfortable to you..

How much personal loan can I get for my salary?

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.

What is minimum salary required for personal loan?

HDFC Bank Personal Loan EligibilityEligibility CriteriaSalariedSelf Employed ProfessionalsApplicant Age21 – 60 years21 – 65 yearsMinimum Eligible Income₹ 20,000 per month₹ 5 Lakh gross annual receiptsMaximum Eligible Loan27x of monthly income-Maximum Loan Amount Eligibility₹ 75 Lakh₹ 50 Lakh3 more rows

What is the EMI for 20 lakhs home loan?

EMI Calculation for 20 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month10 YearsRs.2426015 YearsRs.1912020 YearsRs.1672025 YearsRs.154402 more rows

Can I get personal loan if my salary is 12000?

If you earn a salary of less than Rs. 12,000, you may need to convince the lender about other sources of income that may help you cover your loan repayment. … After speaking to a Bajaj Finserv representative, you can may be able to get your personal loan approved.

Can I get personal loan if my salary is 10000?

The more income proof you are able to provide, the higher will be the approval chances. Banks such as SBI and Indian Overseas Bank provide personal loans to individuals who have lower income of Rs….personal loan for low salary less than 10000.BankMinimum Monthly Income RequiredPunjab National BankRs. 10,000HDFC BankRs. 15,000ICICI BankRs. 17,5002 more rows•Jun 19, 2019

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 personal loan can I get if my salary is 20000?

If you have no other EMIs, you can multiply your monthly salary by 27 to get the maximum loan amount you would be eligible for….Multiplier Method.SalaryExpected Personal Loan AmountRs. 20,000Rs. 5.40 lakhsRs. 30,000Rs. 8.10 lakhsRs. 40,000Rs. 10.80 lakhsRs. 50,000Rs. 13.50 lakhs1 more row•Apr 8, 2020

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

If your earning Rs. 25,000 per month, your maximum EMI towards a personal loan can be up to Rs. 12,500. Most lenders determine the maximum loan amount up to 10 times of your monthly salary.

How is loan amount calculated?

USING MATHEMATICAL FORMULA EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month [if the interest rate per annum is 11%, then the rate of interest will be 11/(12 x 100)], and N is the number of monthly instalments.

How much personal loan can I get on 35000 salary?

Personal Loan Eligibility Criteria for Top Banks and NBFCsLendersEligible Loan AmountMinimum Eligible IncomeICICI BankUp to Rs. 20 LakhsRs. 30,000 per monthIDFC First BankRs 1 Lakh to Rs 25 LakhRs. 20,000 per month (net)IDBI BankRs. 50,000 to Rs. 10 LakhRs. 25,000 per monthIIFLUp to Rs. 25 LakhRs. 35,000 per month23 more rows•Dec 16, 2020

What is the eligibility for personal loan?

Eligibility Criteria for SalariedCriteria*SalariedAge23 years – 58 years.Total years in job/profession2 YearsYears in current residence1 Year1 more row