Can I Get Personal Loan If My Salary Is 12000?

How is loan eligibility calculated for salary?

If you take a personal loan for a maximum of 5 years, then your loan amount will be ₹ 20,000*12*5 = ₹ 12,00,000.

However, the multiplier is 20, then the loan amount will be ₹ 40,000*20 = ₹ 8,00,000.

Therefore, the amount you will get on ₹ 40,000 salary is ₹ 8,00,000..

Can I get personal loan if my salary is 20000?

Having a high CIBIL score and meeting your lender’s eligibility criteria usually goes a long way in getting you good terms on your personal loans. But if your salary is less than Rs. 20,000, you will be expected to convince the lender about the repayment of your personal loan amount.

How much loan I can get if my salary is 25000?

Here taking a salary as ₹ 25k, & without any fixed monthly obligation, you can pay a maximum of ₹ 12,500 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 13,73,026 using a home loan eligibility calculator (assuming 3 household members).

How much personal loan can I get if my salary is 25000?

Most lenders determine the maximum loan amount up to 10 times of your monthly salary. If you earn Rs. 25,000 per month, you may become eligible for up to Rs. 2.5 Lakhs.

How can I get a 25000 loan?

Where can I get a $25,000 personal loan? You can get a $25,000 personal loan using an online lender, bank, or credit union. If you value face to face interaction, you should use a bank or credit union. In most cases, the application, approval, and funding process takes longer with a bank or credit union.

How much loan I can get if my salary is 12000?

Salary of 12000, Am I eligible for Loan? Check here onlineProductSalaryMin. loan amountPersonal Loan1200040000Home Loan12000300000Car Loan12000150000Credit Card12000

What is the minimum salary to get personal loan?

The minimum salary for a personal loan for salaried individuals is INR 25,000 per Month (for residents of Mumbai and Delhi) or INR 20,000 per Month (for all other locations).

Can I get a loan for 12000?

Yes, it is possible to find a short-term personal loan for $12,000., which you can use for a variety of purposes, including debt consolidation. In general, personal loans are offered between 3-5 years, but you can pay it off early.

Can I get personal loan if my salary is 10000?

The more income proof you are able to provide, the higher will be the approval chances. Banks such as SBI and Indian Overseas Bank provide personal loans to individuals who have lower income of Rs….personal loan for low salary less than 10000.BankMinimum Monthly Income RequiredPunjab National BankRs. 10,000HDFC BankRs. 15,000ICICI BankRs. 17,5002 more rows•Jun 19, 2019

Can I get loan without payslip?

Can I get a loan without payslip? Sure you can! All you need to get a loan is to have a regular job and, receive the pay through a bank statement. So, even though you can’t present a pays lip, you can show your income through the bank statement for the bank to approve your loan application.

How much are payments on a $10000 loan?

In another scenario, the $10,000 loan balance and five-year loan term stay the same, but the APR is adjusted, resulting in a change in the monthly loan payment amount….How your loan term and APR affect personal loan payments.Your payments on a $10,000 personal loanMonthly payments$201$379Interest paid$2,060$12,7125 more rows

What credit score is needed for a $5000 loan?

Typically, the credit score needed to get a personal loan can be anywhere between 600 and 700, depending on the lender. The majority of lenders require something in the 640 – 660 range.