Personal Loan for ₹25,000 Salary

You can easily apply for a personal loan on Bajaj Markets with a monthly salary of ₹25,000. These loans help you manage urgent expenses such as medical bills, weddings, travel, or education without financial stress.

With interest rates starting at 9.99% p.a. and flexible tenures of up to 96 months, the application process is quick and online, with minimal hassle.

Before applying, it’s important to check your eligibility. Factors like your credit score, income stability, and the lender’s internal policies will determine the final loan amount and terms.

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

• 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

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.

To get a personal loan with a ₹25,000 monthly salary, a minimum CIBIL score of 650 is usually preferred by lenders. A higher score increases your chances of approval and better interest rates. 

If your score is low, you can improve it by paying EMIs on time, reducing credit card usage, and avoiding multiple loan applications within a short time. Regularly checking your credit report for errors also helps maintain a healthy score.

The basic eligibility criteria to apply for a personal loan include:

• You must be an Indian citizen.
  

• You should be salaried or self-employed with a stable income.
  

• Your age must be 18 years or above.
  

• You need to have a stable source of income.
  

• You should have at least 1 year of work experience.
  

• A CIBIL score of 650 or above is generally preferred by most lenders. If you haven’t checked your credit score recently, it’s a good idea to do so online, it only takes a few minutes.

Lenders usually consider the following factors when evaluating your loan application:

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 stable monthly income 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 650 or higher is generally necessary to showcase creditworthiness and improve approval chances. Analyse your credit profile to understand your eligibility.

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

The documents you will need to apply for a personal loan usually include:

Note: Document requirements may vary across lenders. It’s advisable to check the exact list with your chosen financial institution before applying.

Follow these simple steps to complete your personal loan application:

1. Click here to open the online application page
   
   

2. Select your profession from the dropdown menu
   
   

3. Enter your PIN code and mobile number
   
   

4. Review and accept the terms and conditions
   
   

5. Click ‘Proceed’ to move to the next step
   
   

6. On the next screen, fill in the required details:
   

   • PAN number
     

   • Full name (as per PAN card)
     

   • Date of birth
     

   • Net monthly income
     

   • Employer category
     

   • Company or employer name
     

   • Email ID
     

   • Gender
     

   • Salary credit method (Bank or Cash)

7. Once all fields are filled, click ‘Submit’

    

8. Choose your preferred loan offer and select a suitable tenure

    

9. You’ll be redirected to the lender’s website to complete the final steps, including KYC verification, setting up an e-mandate, and loan disbursal

Note: This process is meant for salaried individuals. If you choose ‘self-employed’ as your profession, you’ll be taken to a different page to provide business details like monthly turnover. Follow the instructions provided on that page accordingly.