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Personal loans accessible to ₹8,000 salary earners with simplified eligibility criteria.
Earning ₹8,000 a month can make it tough to handle emergencies or big expenses. An ₹8,000 salary personal loan offers quick relief with minimal paperwork, letting you cover urgent needs without breaking your budget. It is a smart way to manage finances when savings aren’t enough.
You can apply for a personal loan to cover emergencies, weddings, medical bills, travel, home repairs, or other expenses. These loans are unsecured, meaning no collateral is needed, and they offer flexible usage and repayment terms. Earning ₹8,000 per month can make loan approval harder, but not impossible.
With the right documents and eligibility, you may still qualify after a detailed income and credit check.
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 |
Once approved, the loan amount is transferred quickly to your account. This helps you manage urgent expenses or planned purchases without delay.
Personal loan interest rates on Bajaj Markets are competitive. You can compare multiple offers to find the one that best fits your repayment capacity.
Depending on your income and the lender’s criteria, you could qualify for a personal loan on Bajaj Markets. This allows you to handle both big and small financial goals with ease.
Choose a tenure that works well with your monthly budget. Repayment terms can go up to 8 years, making EMIs easier to manage.
Your loan eligibility on an ₹8,000 income depends on how the lender evaluates your profile. Two common assessment methods are the Multiplier and FOIR methods.
Here, lenders multiply your monthly income by a factor—usually between 10 and 24. This factor is based on your credit history, employer type, and income consistency.
Example:
Monthly Salary: ₹8,000
Multiplier: 15
Eligible Loan Amount: ₹8,000 × 15 = ₹1,20,000
This figure may vary across lenders. Some may have a minimum salary requirement of ₹12,000–₹15,000, especially in larger cities.
Estimated Loan Eligibility for Salaries up to ₹8,000 (Multiplier Method)
The following table shows approximate personal loan amounts for monthly incomes up to ₹8,000, using the commonly applied multiplier approach
Monthly Income (₹) |
Estimated Loan Amount (₹) |
|---|---|
₹1,000 |
₹15,000 |
₹2,000 |
₹30,000 |
₹3,000 |
₹45,000 |
₹4,000 |
₹60,000 |
₹5,000 |
75,000 |
₹6,000 |
₹90,000 |
₹7,000 |
₹1,05,000 |
₹8,000 |
₹1,20,000 |
FOIR (Fixed Obligation to Income Ratio) lets you know how much of your income is already committed to EMIs. Lenders usually cap your total EMI outgo at 40%–50% of your income.
Example:
Income: ₹8,000/month
50% FOIR: ₹4,000 EMI limit
Your eligible loan amount is calculated based on this EMI, interest rate, and tenure, usually through reverse calculation.
Both methods aim to ensure you can repay the loan comfortably without overstretching your budget.
To qualify for a personal loan, a CIBIL score of at least 650 is usually preferred. If your score is below this, here are a few ways to improve it:
Pay your EMIs and credit card dues on time to build a strong repayment track record
Maintain a credit utilisation ratio under 30% to reflect responsible usage
Limit multiple loan or credit card applications in a short span
Ask for a higher credit limit, but continue spending cautiously
Review your credit report regularly and dispute any inaccuracies
These practices can help enhance your credit health and improve your loan eligibility.
Here are some factors that can influence your eligibility for a personal loan with ₹8000 salary:
Your credit score is one of the main factors lenders consider. A higher score shows better creditworthiness and improves your chances of approval.
Existing liabilities such as credit card dues or other loans reduce your repayment capacity and lower your eligibility.
Being an existing customer can help. Some lenders offer better terms or exclusive deals if you have an ongoing relationship with them.
A clean record of timely payments and no defaults can significantly improve your approval chances. Missed or late payments can hurt your eligibility.
While personal loans are unsecured, offering collateral or a guarantor can improve your chances if your income or credit score is low.
Make sure your documents are accurate and complete. Incomplete or incorrect applications often face delays or rejection.
Compare interest rates, fees, and eligibility criteria to find one that suits your profile.
Here is a list of documents you need when you apply:
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 |
To apply for a personal loan on ₹8,000 salary on Bajaj Markets, you should follow the simple steps:
Click on the ‘Check Eligibility’ option on this page
Choose your profession, enter your mobile number and pincode
Accept the terms and conditions after reading and click on ‘PROCEED’
After submitting the application form, a representative will contact you for further processing.
If you earn ₹8,000 per month, you can get a personal loan of up to ₹1.2 Lakh, using the standard 15x monthly income multiplier. The final amount depends on the lender and your repayment capacity.
Your EMI depends on the interest rate the lender applies and the tenure you choose. For example, at an interest rate of 24% and a tenure of 9 months, your EMI on an ₹8,000 loan will be ₹981.
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