Quick Answer: Can I Get Personal Loan If My Salary Is 10000?

How is loan eligibility calculated for salary?

If you take a personal loan for a maximum of 5 years, then your loan amount will be ₹ 20,000*12*5 = ₹ 12,00,000.

However, the multiplier is 20, then the loan amount will be ₹ 40,000*20 = ₹ 8,00,000.

Therefore, the amount you will get on ₹ 40,000 salary is ₹ 8,00,000..

What is the minimum salary required for personal loan?

Personal Loan Eligibility Criteria 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).

Can I get personal loan if my salary is 12000?

12,000, you may need to convince the lender about other sources of income that may help you cover your loan repayment. If you are looking to avail a Bajaj Finserv Personal Loan, you can start by sharing your basic details in the pre-approved loan form and checking if you have an offer.

Can I get loan without salary?

You can still apply for a personal loan without salary slip, especially if you’re self-employed. Below are some of the ways you can get the loan approved: You can validate your income by producing other financial documents like bank account statements, income certificate, Income tax returns or Form 16.

How much personal loan can I get if my salary is 30000?

For example, if you are wondering how much personal loan can I get on a 30,000 salary….Multiplier Method.SalaryExpected Personal Loan AmountRs. 30,000Rs. 8.10 lakhsRs. 40,000Rs. 10.80 lakhsRs. 50,000Rs. 13.50 lakhsRs. 60,000Rs. 16.20 lakhs1 more row•Apr 8, 2020

Which type of loan is best?

Unsecured personal loans. Personal loans are used for a variety of reasons, from paying for wedding expenses to consolidating debt. … Secured personal loans. … Payday loans. … Title loans. … Pawn shop loans. … Payday alternative loans. … Home equity loans. … Credit card cash advances.Jan 11, 2021

Can I get personal loan if my salary is 20000?

You can get the loan without having to submit any security. 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.

How can I get a 30000 loan?

Steps to Apply 30,000 loan in a few simple steps given below. Step 1 – Fill in the online application form with necessary personal and employment details. Step 2 – Also, provide the loan amount and a suitable tenor. Step 3 – Complete the paperwork by handing out all required documents to our representative.

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

Personal Loan Eligibility Criteria for Top Banks and NBFCsLendersEligible Loan AmountEligible AgeMoney ViewRs. 10,000 to Rs. 5 LakhAbove 18 YearsOye LoansRs. 10,000 to Rs. 1 LakhAbove 18 YearsPaySenseRs. 5,000 to Rs. 2 Lakh21 to 60 YearsPunjab National BankRs. 50,000 to Rs. 10 LakhAbove 18 Years23 more rows•Dec 16, 2020

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

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).

Can I get a personal loan for 10000?

What does your credit score have to be to get a $10,000 dollar personal loan? In most cases, you’ll need a 580 or higher to qualify for a personal loan. In most cases, lenders will consider other factors in addition to credit score.

How can I get a 50000 loan online?

Process to Apply for a Rs 50000 Personal Loan?Check Your Eligibility. Find out the maximum loan amount you’re eligible for online in 2 minutes.Select Your Plan. Choose a custom loan amount and the repayment period that suits your financial needs.Upload Your Documents. … Get the Loan Amount.

How is loan amount calculated?

The mathematical formula for calculating EMIs is: 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 home loan can I get on 15000 salary?

Salary of 15000, Am I eligible for Loan? Check here onlineProductSalaryMax. loan amountPersonal Loan15000140000Home Loan15000850000Car Loan15000310000Credit Card15000

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 are payments on a $10000 loan?

In another scenario, the $10,000 loan balance and five-year loan term stay the same, but the APR is adjusted, resulting in a change in the monthly loan payment amount….How your loan term and APR affect personal loan payments.Your payments on a $10,000 personal loanMonthly payments$201$379Interest paid$2,060$12,7125 more rows

What credit score is needed for a $5000 loan?

Typically, the credit score needed to get a personal loan can be anywhere between 600 and 700, depending on the lender. The majority of lenders require something in the 640 – 660 range.

How much are payments on a 50000 loan?

15 Year $50,000 Mortgage LoanLoan Amount2.50%5.50%$50,000$333.39$408.54$50,050$333.73$408.95$50,100$334.06$409.36$50,150$334.39$409.7716 more rows