Quick Answer: How Much Personal Loan Can I Get 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.

5000 per month.

personal loan for low salary less than 10000.

BankMinimum Monthly Income Required
HDFC BankRs.

15,000

ICICI BankRs.

17,500

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How much personal 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

Can I get a personal loan for 10000?

Bad credit or good credit, there are options available to you if you need to borrow a large amount of money. Loans up to $10,000 are available from both traditional and nontraditional lenders and can come in a variety of forms: Secured or unsecured, short-term or long-term, for personal or business use.

How much loan can I get if my salary is 6000?

Then, the maximum amount you can pay as EMI is Rs. 60,000*60% = Rs. 36,000. If you take a personal loan for a maximum of 5 years, then your loan amount will be Rs.

2,500*

Loan AmountCashback
Rs. 12 lakh and aboveRs. 2,500
Rs. 8 lakh – less than Rs. 12 lakhRs. 1,500
Rs. 6 lakh – less than Rs. 8 lakhRs. 1,000

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Which bank gives loan easily?

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%.

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.

What is the minimum salary for 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.

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:

  • Photo Identity Proof.
  • Residence Address Proof.
  • Residence Ownership Proof.
  • Income Proof.
  • Job Continuity Proof.
  • Bank Statement.
  • Investment Proof.
  • 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.

Can you get a personal loan without a job?

Even if you don’t have a job, you can still get a loan. Lenders will still consider you for a loan when you are unemployed; being approved will depend on whether you prove that you can make regular payments on time.

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.

What amount of loan can I qualify for?

Most lenders require that you’ll spend less than 28% of your pretax income on housing and 36% on total debt payments. If you spend 25% of your income on housing and 40% on total debt payments, they’ll consider the higher number and qualify you for a smaller amount as a result.

Is there any loan without security?

A business loan that is taken either from a bank or any other NBFC, without the guarantee of collateral is called an Unsecured Business Loan or a Business Loan without Security.

How can I get a loan without documents?

Documents Required

  1. The duly signed application form.
  2. Passport size photograph.
  3. Proof of ID – Passport/ Voter ID/ PAN Card.
  4. Proof of age – Birth certificate/ passport.
  5. Proof of residence – Passport/ Utility bill/ Allotment letter.

What are the 4 types of loans?

4 Types Of Loans Every Business Owner Should Understand

  • Long-Term Loans. One of the most common types of loans distributed by large commercial lenders.
  • Short-Term Loans. Rather than requiring monthly payments, short-term loans are due, in full, at the end of the agreed-upon term.
  • Lines of Credit.
  • Alternative Financing.