Can I get loan if my salary is 17000?
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. In this post we will tell how and where you can get a loan with low salary.
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How much personal loan can I get if my salary is 15000?
With 15,000 salary, borrowers can easily avail small cash loans ranging from 50,000 to 1,50,000. This is easy to repay when broken down into EMIs. However, the loan amount can vary from lender to lender.05-Feb-2022
For instance, if your take-home salary is Rs. 25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs. 40 lakh (provided you have no existing financial obligations.)
Can I borrow 20000 salary?
A: Yes, you can get a personal loan with a monthly salary of 20,000. Ensure you have your Aadhar Card, PAN card, and last 6 months bank statement in place for instant loan approval with 20K salary.07-Jan-2022
How much personal loan can I get on a ₹20000 salary? According to the Multiplier method, on a salary of ₹20000, you will be eligible for ₹5.40 lakhs for 5 years. Going by the Fixed Obligation Income Ratio method, if you have monthly EMIs of ₹3000, you will be eligible for an amount of ₹4.08 lakhs.13-Sept-2021
Which loan has no interest rate?
Subsidized Loans do not accrue interest while you are in school at least half-time or during deferment periods. Unsubsidized Loans are loans for both undergraduate and graduate students that are not based on financial need.07-Jul-2022
Top Personal Loan Plans of 2022: Brief Analysis
What is the minimum EMI of personal loan?
Personal Loan Calculator Online A customer is only required to enter the amount of loan, and rate of interest and can easily estimate the amount of EMI. As on 19 Dec 2022, the lowest personal loan EMI is ₹ 2,149 at 10.49% for 120 months.
You need to be a residing citizen of India. You should be aged between 21 years and 67 years* You need to be employed with a private, public limited company, or an MNC. You should have a minimum CIBIL score of 750.
Which bank gives personal loan without salary slip?
Hero FinCorp Instant Personal Loan enables paperless documentation without any salary slip or bank statement. The only documents required are an Aadhar card and a PAN card for E-KYC verification.
In most cases, individuals are eligible for a personal loan amount of up to 30 times their monthly income. Additionally, to minimise the risk of default, lenders keep the EMIs of the loan to about 45-60% of your monthly income.
Which bank will give personal loan?
Top Private Sector Banks Offering Personal Loans
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.
How much personal loan can I get on 18,000 salary?
To avail Yes Bank personal loan you need to have a minimum net income of ₹ 18,000 per month.Yes Bank Personal Loan Eligibility 2022.
The best way to get an instant loan in 5 minutes is to borrow from a friend or family member since they can give you cash or use an electronic transfer service to send you money immediately. No reputable companies will send funds to you within minutes or even 1 hour after you apply.13-May-2022
How much loan can I get if my salary is 23000?
Lenders will assess the personal loan amount according to your monthly salary of INR 23,000. With this income, you can pay an EMI of around 50 percent of your monthly income which is INR 11,500. Based on this, you can get a maximum loan of INR 4 lakh for a period of 5 years at an interest rate of 14 percent per annum.
So, if your salary is less than Rs. 12,000, assure the lender that you have other sources of income to repay your personal loan on time. However, ensure that you meet the rest of the eligibility parameters and submit the basic documents required to increase your chances of being approved for a personal loan.
Can I get loan for 16000 salary?
16,000 will qualify with certain lenders, some may not approve your loan application especially if you live in metro cities. You need to check with the respective lender about the details. The loan amount is purely decided by the lender based on your eligibility and credit profile.25-Feb-2020
What is the minimum salary required to get a personal loan? The minimum salary fixed by most lenders is Rs. 20,000 while a few private-sector lenders may give you a personal loan even with a salary of Rs. 15,000.
Can I get personal loan with 16000 salary?
Minimum income: Higher income indicates higher capacity to repay your loan on time, which further implies lower risk for lenders. For salaried professionals, the minimum salary requirement set by most lenders is Rs. 15,000 or above. Note that individuals with a minimum salary of Rs 25,000 are preferred by lenders.12-Dec-2022
Can I get loan if my salary is 17000?