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A personal loan on a salary of ₹25,000 is a convenient financing option to cover expenses such as medical emergencies, weddings, travel, or education. These unsecured loans, which do not require any collateral, offer loan amounts of up to ₹50 Lakhs, making them both accessible and flexible.

With competitive interest rates starting at 9.99% p.a. and repayment tenures of up to 96 months, these loans are designed to be affordable and manageable. However, personal loan eligibility for a ₹25,000 salary will depend on factors like your credit score, income stability, and the lender’s policies.

Lenders Offering Personal Loans for ₹25,000 Salary

Partner Name

Min Interest Rate

Max Tenure

Processing Fee

Bajaj Finance Limited

10% p.a.

96 months

Up to 3.93% of the loan amount

CASHe

2.79% p.m.

18 months

Up to 5.5% of the personal loan amount + GST

Federal Bank

11% p.a.

48 months

0.70% to 2.80% of the loan amount + 18% GST

Fibe

14% p.a.

36 months

Up to 2% of the loan amount

Finnable

15.95% p.a.

60 months

Up to 3% of total loan amount

IIFL Finance

18% p.a.

42 months

2% to 6% of the loan amount + GST

InCred

16% p.a.

60 months

2%-5% on the sanctioned amount

Kissht

14% p.a.

24 months

3% - 5% of the loan amount

Kotak Mahindra Bank

10.99% p.a.

72 months


Up to 1.10% - 1.50% of the loan amount + GST

KreditBee

14% p.a.

24 months

Up to 3% of the loan amount

L&T Finance

12% p.a.

48 months

Up to 2% of loan amount + GST

MoneyTap

18% p.a.

36 months

5% to 10% of the loan amount

moneyview

1.33% p.m.

60 months

Starting from 2% of the approved loan amount

mPokket

24% p.a.

90 days

₹50 to ₹200 + 18% GST (depending on the loan amount with a maximum APR of 48%)

Muthoot Finance

14.50% p.a.

60 months

2% to 4% of the loan amount

Olyv

18% p.a.

12 months

2% - 12% of the loan amount

PaySense Partners

15% p.a.

60 months

2% - 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher)

Privo

9.99% p.a.

60 months

1%-3% of the loan amount +GST

SMFG India Credit

12% p.a.

60 months

0% - 6% of the loan amount

Upwards

18% p.a.

36 months

Up to 4% of the loan amount

YES BANK

12.50% p.a.

72 months

Up to 2.75% of the loan amount

Zype

18% p.a.

12 months

2% to 6% of the loan amount

*Disclaimer: The mentioned rates are as of 28th December 2024. These are subject to change at the lender’s discretion.

Features and Benefits of Personal Loans on Bajaj Markets

Here are some key features and benefits of getting a loan on a ₹25,000 salary through Bajaj Markets:

High Loan Amount

Borrow up to ₹50 Lakhs to cover a variety of financial needs, such as medical expenses, education, or home renovation.

Competitive Interest Rates

Benefit from interest rates starting at 9.99% p.a., making these loans an affordable borrowing option.

Flexible Usage

Use the loan amount for any purpose, including travel, weddings, debt consolidation, or unforeseen emergencies.

Unsecured Loan

These loans are collateral-free, so you do not need to pledge any assets to access funds.

Customisable Repayment Options

Choose between a term loan with fixed EMIs or a flexi loan for added flexibility in repayments.

Seamless Online Application

The digital application process allows for quick submission and verification, saving time and effort.

Minimal Documentation

With a streamlined process, only a few basic documents, such as identity and income proof, are required to apply.

Fast Disbursal

Once approved, the loan amount may be credited to your account within minutes, ensuring prompt access to funds.

Transparent Fees

Bajaj Markets ensures complete transparency with no hidden charges, providing clarity on all costs involved.

How Much Personal Loan Can I Get on a ₹25,000 Salary

The loan amount you may qualify for with a personal loan on a ₹25,000 salary depends on your financial profile and the lender’s evaluation methods. Most lenders use either the Multiplier Method or the Fixed Obligation to Income Ratio (FOIR) Method to determine your eligibility.

Multiplier Method

Under this method, lenders calculate the eligible loan amount by multiplying your net monthly income (NMI) by a specific multiplier, which usually ranges from 10 to 24. The exact multiplier varies based on your credit profile, repayment capacity, and lender policies.

Example Calculation:

  • Monthly Salary (NMI): ₹25,000

  • Assumed Multiplier: 15

  • Eligible Loan Amount: ₹25,000 × 15 = ₹3,75,000

With this method, you could qualify for a loan amount of up to ₹3.75 lakhs based on a salary of ₹25,000, subject to lender policies and financial health.

Fixed Obligation to Income Ratio (FOIR) Method

The FOIR method assesses your loan eligibility by calculating the proportion of your monthly income that is already committed to existing obligations (such as EMIs or rent). Lenders typically prefer that your total obligations, including the EMI for the new loan, do not exceed 50-55% of your NMI.

Example Calculation:

  • Monthly Salary (NMI): ₹25,000

  • Maximum Allowable Obligations (50% of NMI): ₹25,000 × 50% = ₹12,500

  • Existing Obligations: ₹3,000

  • Available for New Loan EMI: ₹12,500 - ₹3,000 = ₹9,500

Based on this, lenders will calculate the loan amount you may qualify for, considering the applicable interest rate and repayment tenure.

Loan Eligibility Table Using Multiplier Method

The table below provides an estimate of personal loan amounts for various monthly salaries up to ₹25,000:

Monthly Income

(₹)

Estimated Loan Amount

(₹)

₹15,000

₹2.25 Lakhs

₹16,000

₹2.40 Lakhs

₹17,000

₹2.55 Lakhs

₹18,000

₹2.70 Lakhs

₹19,000

₹2.85 Lakhs

₹20,000

₹3.00 Lakhs

₹22,000

₹3.30 Lakhs

₹25,000

₹3.75 Lakhs

Disclaimer: Calculations assume a multiplier of 15 and no pre-existing financial obligations or ongoing loan repayments.

Other Factors Influencing Eligibility and Personal Loan Amount for ₹25,000 Salary

When applying for a personal loan for a salary of ₹25,000, here are the key eligibility criteria to consider:

Citizenship

Applicants must be Indian citizens to be eligible for a personal loan.

Employment Status

Both salaried and self-employed individuals can apply, provided they meet the lender’s requirements for income and job stability.

Age Criteria

The minimum age to apply is 18 years, while the maximum age limit depends on the lender's policies.

Income Threshold

A minimum monthly income of ₹10,000 is typically required to qualify for a personal loan.

Work Experience

Lenders often prefer applicants with at least one year of work experience to demonstrate financial stability.

Credit Score

A credit score of 600 or higher is generally necessary to showcase creditworthiness and improve approval chances.

Ensuring you meet these criteria before applying can streamline the approval process and increase your eligibility for higher loan amounts.

Documents Required for a ₹25,000 Salary Personal Loan on Bajaj Markets

To apply for a personal loan on a ₹25,000 salary, you will need to provide the following:

Identity Proof

To confirm your identity, you can submit any one of the following:

  • Aadhaar Card

  • PAN Card

  • Voter ID

  • Passport

  • Driving Licence

Proof of Address

For address verification, provide any of the following documents:

  • Aadhaar Card

  • Voter ID

  • Passport

  • Driving Licence

  • Recent Utility Bill (Electricity or Telephone)

Income Verification Documents

Lenders require proof of income to evaluate your repayment capacity. Submit these documents:

  • Salary slips for the last three months

  • Bank statements showing salary credits for the last three months

Photographs

  • Two recent passport-sized photographs are necessary for your loan application.

Providing these documents accurately will help speed up your loan approval process and minimise any delays. Ensure that all documents are current and valid before submission.

How to Apply for a Personal Loan with a ₹25,000 Salary on Bajaj Markets

Follow these steps to apply for a personal loan for ₹25,000 salary on Bajaj Markets:

  1. Click on the ‘Check Eligibility’ option to determine whether you qualify for the loan

  2. Enter your personal details, including name, contact information, income, and employment type, in the online form

  3. Specify the loan amount you require and select your desired repayment tenure

  4. Upload the required documents and submit the completed application for verification

Once submitted, your application will be reviewed, and upon approval, the loan amount will be disbursed directly to your bank account.

Frequently Asked Questions

What is the maximum amount of personal loan one can get on a ₹25,000 salary?

The maximum loan amount for a ₹25,000 salary depends on factors like lender’s policies, credit score, and liabilities. Using the multiplier method (15-24 times your income), you could qualify for ₹3.75 Lakhs to ₹6 Lakhs if eligibility criteria are met.

What is the CIBIL score required for a personal loan with a ₹25,000 salary?

Lenders generally require a minimum CIBIL score of 600 to approve a personal loan for applicants with a ₹25,000 salary. However, a higher score (750 or above) increases your chances of approval and may help you secure better loan terms, such as lower interest rates and higher loan amounts.

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