How much loan can I get if my salary is ₹25,000?

If you are a salaried individual with a monthly income of ₹25,000 (assuming an EMI payment of ₹3,000), you will be eligible to receive a loan of ₹4.62 Lakhs. While as a self-employed individual with a monthly income of ₹25,000 with the same EMI payment, you will be eligible for a loan of ₹4.23 Lakhs.

What is the minimum salary required for a personal loan?

The salary necessary for salaried workers to get a personal loan is more than ₹15,000. A self-employed person, on the other hand, must have a consistent monthly income in order to qualify for a personal loan.

Why is determining my eligibility so important while applying for a personal loan?

Determining your eligibility while applying for a personal loan helps you identify the kind of loans you are eligible for. This will, thus, help you apply for the right kind of loan.

Will I have to pay a fee to check my personal loan eligibility?

No, most of the lenders provide this facility without charging any fee.

How does my type of residence impact my eligibility?

Your residence indicates your ability to repay the loan. If you live in a rented house, then a certain portion of your income will go in paying the rent, reducing your disposable income.

How does my place of work determine my eligibility?

Your place of work or organisation represents your job stability, your income and hence your repayment capacity. The reputed your organisation, more are your chances of getting the loan.

How does my credit history affect my eligibility for a personal loan?

Your credit history indicates your creditworthiness and if you are a responsible borrower or not, who paid his/her past payment dues on time. A poor repayment record might lead you into paying a higher interest rate or even rejection of your loan application.

Will I be eligible for a loan if I’m studying?

A personal loan is generally offered to working (salaried/self-employed) individuals.

Is there any way to increase my eligibility when applying for a personal loan?

You can increase your eligibility by maintaining a high Credit Score, clearing your existing loan dues and credit card bills, having a steady source of income, and avoiding multiple loan applications.

Who is not eligible for a personal loan?

To be eligible for a personal loan application, you must be at least 21 years old and no older than 60 years old. If you are not in this age bracket, your personal loan application may be rejected.

Can I get a personal loan with a ₹15,000 salary?

Borrowers from all income levels have consistently taken personal loans. A personal loan qualifying criteria begins with a monthly salary of ₹15,000. This is due to the fact that obtaining a personal loan needs a minimum income of ₹15,000. With a minimal salary slab, the eligibility requirements are reduced, allowing all persons with low earnings to benefit from personal loans.

Personal Loan

Get an instant loan of up to ₹50 Lakhs

Salaried Individuals - Check your Loan eligibility!

Our Partners

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Loan Amounts of up to ₹50 Lakhs| Quick Disbursal | 100% Digital Application Apply Now

You can now apply for a personal loan of up to ₹50 Lakhs on Bajaj Markets. Interest rates start as low as 9.99% p.a. With flexible repayment tenures ranging up to 6 years. Compare offers from 15+ lenders and benefit from the easy application process, quick approval, minimal documentation and much more on Bajaj Markets.

Compare Personal Loans

Our Partners	Minimum Interest Rate	Maximum Loan Amount	Maximum Loan Tenure
Bajaj Finance Limited	11% p.a.	₹35 Lakhs	72 months
4.7	View Details
CASHe	27% p.a.	₹4 Lakhs	12 months
4.4	View Details
Federal Bank	11% p.a.	₹5 Lakhs	48 months
4	View Details
Fibe	14% p.a.	₹5 Lakhs	36 months
4	View Details
Finnable	15.95% p.a.	₹10 Lakhs	60 months
4	View Details
IIFL Finance	18% p.a.	₹5 Lakhs	42 months
4.1	View Details
InCred	16% p.a.	₹10 Lakhs	72 months
4.3	View Details
Kissht	18% p.a.	₹2 Lakhs	24 months
4.2	View Details
Kotak Mahindra Bank	10.99% p.a.	₹25 Lakhs	60 months
4.2	View Details
KreditBee	18% p.a.	₹4 Lakhs	24 months
4.1	View Details
L&T Finance	11% p.a.	₹15 Lakhs	48 months
4.6	View Details
moneyview	16% p.a.	₹5 Lakhs	60 months
4.2	View Details
mPokket	24% p.a.	₹45,000	10 months
4.1	View Details
Muthoot Finance	14.50% p.a.	₹15 Lakhs	60 months
4	View Details
Olyv	1.5% p.m.	₹5 Lakhs	12 months
4.1	View Details
PaySense Partners	15% p.a.	₹5 Lakhs	60 months
4.3	View Details
Privo	9.99% p.a.	₹5 Lakhs	60 months
4.5	View Details
SMFG India Credit	12% p.a.	₹25 Lakhs	60 months
4.2	View Details
Upwards	1.5% p.m.	₹5 Lakhs	36 months
4.3	View Details
YES BANK	10.99% p.a.	₹50 Lakhs	72 months
4.2	View Details
Zype	18% p.a.	₹5 Lakhs	12 months
4	View Details

Calculate Your Personal loan EMI

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Tenure

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Years

Rate of Interest

Monthly EMI

at % interest rate for months

Total Amount Payable

Principal Amount

Total Interest Amount

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Year	Principal	Interest	Balance

Features and Benefits

High Loan Amount

You can instantly borrow amounts as high as ₹50 Lakhs with the help of a personal loan

Low Interest Rates

Get a personal loan on Bajaj Markets at attractive interest rates starting from 9.99% p.a.

Multi-purpose Loan

The loan amount can be used to cater to a variety of needs, ranging from tackling medical emergencies, planning your trip or wedding, funding your child’s education, debt consolidation and much more

No Collateral Requirements

To avail an online personal loan, you do not need to submit any collateral

Variants of Personal Loan

You can choose between two personal loan variants, that is, a term loan or a <a href="https://www.bajajfinservmarkets.in/loans/personal-loan/hybrid-flexi-personal-loan.html">flexi loan</a>, on Bajaj Markets

Eligibility Criteria and Documents Required

Here is a list of some criteria you should check prior to applying for a personal loan online.

Indian citizen
Salaried or self-employed individual
Above 21 years old
Minimum income of 15,000 per month
Minimum work experience of 2 to 3 years
Credit Score of 600 or above

Alongside checking your eligibility, it is also essential to keep the required documents handy. Provided below is a short list of documents you may be asked to submit when applying for a personal loan.

Identity Proof: PAN/Aadhaar card, voter ID, passport, driving licence
Address Proof: Voter’s ID, Aadhaar card, passport, driving licence, electricity bill, telephone bill
Income Proof: Bank statement or salary slips for the last three months
2 passport-size photographs

How to Apply for a Personal Loan on Bajaj Markets

Follow these quick and easy steps to apply for a personal loan online.

Click on the ‘Apply Now’ button on this page
Enter your basic personal details on the online application form
Enter the loan amount and preferred repayment tenure
Submit the form for verification

Why Choose Bajaj Markets for a Personal Loan

Quick Processing

The online application process enables your loan application to be reviewed and verified within a few minutes.

Rapid Disbursals

If approved, you may receive the sanctioned amount within a few minutes.

Minimal Paperwork

The online documentation process makes applying for a personal loan on Bajaj Markets easy and convenient.

Zero Hidden Charges

With the promise of complete transparency, you can be assured of zero hidden charges.

What is a personal loan?

A personal loan refers to an unsecured credit source, which is generally utilised to meet pressing financial requirements.

How can I apply for an instant personal loan online from Bajaj Markets?

When you apply for a personal loan at Bajaj Markets, your application is verified for approval. Once approved, the loan amount gets transferred to your account instantly.

Am I eligible for a personal loan?

You may be eligible to get a personal loan on Bajaj Markets if you meet the criteria listed below:

Working Indian national
At least 18 years old
CIBIL score of 600 or above

What is the maximum personal loan amount?

You can avail of a personal loan amount of up to ₹50 Lakhs through Bajaj Markets. However, the maximum personal loan amount you can avail of will depend on your eligibility.

What is the maximum repayment tenure of a personal loan?

The repayment tenure of a personal loan can be up to 6 years. It will depend on your lender, your principal amount, and your repayment capability.

How can I avoid the rejection of a personal loan application?

To prevent the rejection of your personal loan application, ensure you meet all the eligibility requirements and have the proper documentation in place.

What can you use a personal loan for?

A personal loan does not have any end-use restrictions. It can be used for debt consolidation, home improvement, medical expenses, education, travel, or any other financial need.

How long does it take for a personal loan to be approved?

The approval time for a personal loan can vary but usually takes up to 7 business days. This is subject to the completeness of the application, the documentation provided, and the lender’s policies.

Can I get more than one personal loan at the same time?

Yes. It is possible to get more than one personal loan at the same time. However, the approval of these loans depends on factors like your creditworthiness, income, and the lender’s policies.

How does a personal loan work?

Once you decide to apply for a loan with a lender of your choice, you must first fill necessary details in the application form. Submit the necessary documents, following which the lender checks your creditworthiness and then provides an offer. If you accept the offer and sign the agreement, the amount is credited to your account, which you can use to meet your requirements.

Can I foreclose my personal loan?

Yes, you can foreclose a personal loan by paying a small fee that usually ranges up to 4-6% of the loan amount. Ensure to check with your lender and verify the foreclosure charges that may apply.