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Convenient personal loans on ₹1 lakh salary with minimal documentation needed.
Earning ₹1 Lakh per month significantly boosts your personal loan eligibility. It increases your chances of securing a higher loan amount, lower interest rates, and quicker approvals. With this income, you can easily qualify for a personal loan on Bajaj Markets to meet your financial needs.
While the maximum loan amount may vary, depending on the lender and your credit score, having a sizable income helps. Still, knowing the estimated loan amount you can apply for can help you stay prepared for any financial emergency.
With Bajaj Markets, you can explore high-value personal loan options designed for salaried professionals. Whether it's for a wedding, travel, business needs, or home renovation, 20+ trusted lenders offer competitive interest rates and flexible repayment options.
Just meet the basic eligibility, upload your documents, and apply online in minutes. A ₹1 Lakh monthly income and a good credit score may unlock faster approvals and exclusive loan offers.
Refer the table below:-
Partner Name |
Min Interest Rate |
Max Tenure |
Processing Fee |
|---|---|---|---|
10% p.a. |
96 months |
Up to 3.93% of the loan amount |
|
2.79% p.m. |
18 months |
Up to 5.5% of the personal loan amount + GST |
|
11% p.a. |
48 months |
0.70% to 2.80% of the loan amount + 18% GST |
|
14% p.a. |
36 months |
Up to 2% of the loan amount |
|
15.95% p.a. |
60 months |
Up to 3% of total loan amount |
|
18% p.a. |
42 months |
2% to 6% of the loan amount + GST |
|
16% p.a. |
60 months |
2%-5% on the sanctioned amount |
|
14% p.a. |
24 months |
3% - 5% of the loan amount |
|
10.99% p.a. |
72 months |
Up to 1.10% - 1.50% of the loan amount + GST |
|
14% p.a. |
24 months |
Up to 3% of the loan amount |
|
12% p.a. |
48 months |
Up to 2% of loan amount + GST |
|
18% p.a. |
36 months |
5% to 10% of the loan amount |
|
1.33% p.m. |
60 months |
Starting from 2% of the approved loan amount |
|
24% p.a. |
90 days |
₹50 to ₹200 + 18% GST (depending on the loan amount with a maximum APR of 48%) |
|
14.50% p.a. |
60 months |
2% to 4% of the loan amount |
|
18% p.a. |
12 months |
2% - 12% of the loan amount |
|
15% p.a. |
60 months |
2% - 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher) |
|
9.99% p.a. |
60 months |
1%-3% of the loan amount +GST |
|
12% p.a. |
60 months |
0% - 6% of the loan amount |
|
18% p.a. |
36 months |
Up to 4% of the loan amount |
|
12.50% p.a. |
72 months |
Up to 2.75% of the loan amount |
|
18% p.a. |
12 months |
2% to 6% of the loan amount |
Instantly borrow up to ₹55 Lakhs by comparing offers from multiple lenders on Bajaj Markets
Attractive personal loan interest rates starting from just 9.99% p.a. on Bajaj Markets
Use the loan for medical emergencies, travel, weddings, education, debt consolidation, and more
No need to pledge any assets or provide security to get the loan
The loan amount you can get with a ₹1 Lakh monthly salary depends on your financial profile and the lender’s evaluation method. Most lenders use the Multiplier Method or the FOIR (Fixed Obligation to Income Ratio) Method to assess eligibility.
Lenders multiply your net monthly income by a multiplier, that is usually 15 times. The exact multiplier depends on the lender’s policy, your credit score, and other financial obligations.
Estimated Personal Loan Eligibility for Monthly Salaries up to ₹1 Lakh (Multiplier Method)
Check the table below to know the personal loan amount you can get for salaries up to ₹1 Lakh. These are calculated using the standard income multiplier method.
Monthly Income (₹) |
Estimated Loan Amount (₹) |
|---|---|
₹91,000 |
₹13,65,000 |
₹92,000 |
₹13,80,000 |
₹93,000 |
₹13,95,000 |
₹94,000 |
₹14,10,000 |
₹95,000 |
₹14,25,000 |
₹96,000 |
₹14,40,000 |
₹97,000 |
₹14,55,000 |
₹98,000 |
₹14,70,000 |
₹99,000 |
₹14,85,000 |
₹1,00,000 |
₹15,00,000 |
So, with a ₹1 Lakh monthly income and a multiplier of 15, you may be eligible for a personal loan of up to ₹15 Lakhs.
The Fixed Obligation to Income Ratio (FOIR) approach considers your current monthly debt obligations. Most lenders prefer that your total EMIs, including the new loan, do not exceed 40% to 50% of your net monthly income.
Example
Monthly Salary: ₹1,00,000
FOIR Threshold (50%): ₹50,000
Lenders use this maximum EMI limit of ₹50,000 to estimate your eligible loan amount by calculating backward using the applicable interest rate and loan tenure
These two approaches are used to ensure your loan amount aligns with your repayment capacity.
Your CIBIL score plays a crucial role in determining your eligibility for a personal loan. Having a score of 650 or above significantly enhances your chances of securing loan approval, often with more favorable interest rates and faster processing times.
Pay EMIs and credit card bills on time by setting reminders or opting for automatic payments
Reduce your credit burden by clearing high-interest debts as early as possible
Refrain from submitting multiple new credit applications within a short span
Review your credit report regularly and correct any inaccuracies without delay
Keep credit card utilisation below 30% of the available limit to maintain a healthy score
Aim for a balanced mix of credit types to support long-term credit score growth
Apart from your income, several other factors affect your personal loan eligibility and the amount you can borrow. Understanding these can help improve your chances of approval.
A strong credit score indicates responsible financial behaviour. It improves your chances of loan approval and helps secure better interest rates.
Most lenders prefer applicants aged between 21 and 60 years. Applicants outside this age range may need to meet additional eligibility criteria.
Having an existing relationship with the lender can be advantageous. It may lead to quicker approvals, pre-approved offers, or more favourable loan terms.
Providing accurate and complete documentation ensures smooth and timely processing of the loan application. Many lenders now accept paperless submissions using PAN and Aadhaar details.
Each bank or NBFC has its own specific eligibility rules and guidelines. Comparing offers from different lenders helps you choose the most suitable loan for your needs.
To apply for a personal loan with a ₹1 Lakh salary, you need to provide a few essential documents for identity, address, and income verification. Here’s a list of documents:
Document Type |
Accepted Documents |
|---|---|
Identity Proof(Any one) |
PAN Card, Aadhaar Card, Voter ID, Passport, Driving Licence |
Address Proof(Any one) |
Voter ID, Aadhaar Card, Passport, Driving Licence, Electricity Bill, Telephone Bill |
Income Proof |
Bank statement or salary slips for the last 3 months |
Follow these simple steps to apply for a personal loan on Bajaj Markets:
Click on the ‘Check Offers’ button to begin your loan application
Fill in your basic personal and financial details
Enter your preferred loan amount and select a suitable repayment tenure
Upload the required documents such as ID, address, and income proof
Submit the form for review and verification
A representative may get in touch to guide you through the next steps
With a ₹1 Lakh monthly income and a multiplier of 15, you may be eligible for a personal loan of up to ₹15 Lakhs, subject to the lender’s policies and your creditworthiness.
An ideal CIBIL score for loan approval with a ₹1 Lakh income is 650 or above. This score increases your chances of quick approval, higher loan amounts, and better interest rates from most lenders.
Yes, you can get a pre-approved personal loan offer on a ₹1 Lakh salary if you have a good credit score and a clean repayment history.
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