Documents Required for Personal Loans
- Proof of Identity:- Passport / Driving License / Voters ID / PAN Card (any one)
- Proof of Residence:- Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
- Latest 3 months Bank Statement (where salary/income is credited).
Similarly, can I get a loan with 17000 salary?
A who is 25 years old has a net income of ₹ 17,000. He wants to take a personal loan of ₹ 1 Lakh for 48 months. … 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%.
In this regard, how many payslips do I need for a personal loan?
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).
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
|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|
A: A salary of Rs. 15,000 generally falls in the category of a low-income borrower group. So, an instant personal loan app with a maximum approval amount of 1.5 Lakhs can be availed by the borrower with a starting salary of Rs. 15,000.
The maximum amount you can get for a personal loan on 25000 salary will be Rs. 250000/-This again depends on your income, repayment capacity and credit score.
How to qualify for a personal loan?
- You should be aged between 20 and 60 years.
- You need to be a resident of India.
- You should be working for an MNC, private or a public limited company.
- You should have a minimum CIBIL score of 750.
- KYC documents.
- Employee ID card.
- Last 2 months’ salary slips.
The personal loan eligibility criteria heavily depend on your disposable income. This should be at least 30% to 40% of your net monthly income. You should have a good credit score. … This will ensure a maximum personal loan amount based on your income, age, repayment capacity, and other factors.
Some lenders will need you to earn over $30,000 p.a. to be eligible, while others only need you to be making over $300 per week. There are also lenders that don’t have a minimum income requirement, although these loans are usually more expensive.