Quick Answer: How Much Loan A Salaried Person Can Get?

If you are a salaried person, you need to have a minimum income of Rs.

20,000 per month.

You would be eligible for a maximum loan of Rs.

15, 00,000.

How much loan can I get on 50000 salary?

Normally, all banks provide home loans up to 60 times your monthly net income. You have a monthly in-hand (take home) salary as Rs 50,000 and you are looking for a home loan of about Rs 30 lakh.

How much loan I can get on 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.

How much personal loan can I get if my salary is 15000?

Salary of 15000, Am I eligible for Loan? Check here online

ProductSalaryMax. loan amount
Personal Loan15000140000
Home Loan15000850000
Car Loan15000310000
Credit Card15000

What is the minimum salary to get personal loan?

Although, individuals with minimum monthly income of Rs. 25,000 are preferred more by the banks. And for self- employed individuals, a gross annual income of minimum Rs. 5 lakh is usually needed to qualify for a personal loan.

Can I get a loan of 50000?

Small loans of Rs. 50,000 are helpful to meet urgent expenses, pay high interest credit card dues, get an advance before salary credit and to pay off informal debts. Borrowers on the platform also avail this loan if they are unable to get a small amount from a bank or have higher obligations.

How is loan amount calculated?

Divide your interest rate by the number of payments you’ll make in the year (interest rates are expressed annually). So, for example, if you’re making monthly payments, divide by 12. 2. Multiply it by the balance of your loan, which for the first payment, will be your whole principal amount.

Which home loan is best?

  • #1. ICICI Bank Home Loan.
  • #2. State Bank of India Home Loan.
  • #3. HDFC Bank Home Loan.
  • #4. Axis Bank Home Loan.
  • #5. Dewan Housing Finance Ltd. ( DHFL)
  • #6. Indiabulls Home Finance.
  • #7. LIC Housing Finance Home Loan.
  • #8. PNB Housing Finance.

Which bank is best for personal loan?

HDFC Bank, Tata Capital, RBL Bank, Citibank, ICICI Bank are the best banks for personal loan, if you are looking for an instant personal loan with in 1-2 days. The interest rates of these banks are in the range of 10.5% to 18%.

What percentage of the loan can be provided for a car or auto?

Car loans are given up to 85 percent of the car value and also based on your repayment capacity, i.e. your Income. So, if you plan to buy a Mercedes then your monthly income should be good enough to be able to service EMIs.

How can I get a 20000 loan?

Availing a personal loan of INR 20,000 is easy when you approach a flexible lending institution.

Some of the documents required are:

  1. Photo Identity Proof.
  2. Residence Address Proof.
  3. Residence Ownership Proof.
  4. Income Proof.
  5. Job Continuity Proof.
  6. Bank Statement.
  7. Investment Proof.
  8. 1 passport size color photograph.

Can I get credit card for 15000 salary?

11) ICICI Bank (HPCL Credit Card): Annual income required is Rs. 1,44,000 (Salaried and self-employed) i.e. monthly salary of Rs. 15,000 – Rs. 16,000 for salaried person and Rs.

How much personal loan can I get if my salary is 20000?

Usually, a personal loan can be availed even if an applicant is earning a minimum monthly income of Rs. 15,000–18,000. So, in your case, with a monthly of Rs. 20,000, a personal loan can definitely be availed.