Documents Required for Personal Loan

Yes, the minimum monthly salary should be at least INR 20,000 to avail a personal loan. However, do note that a minimum salary of INR 25,000 per month is required for residents of Mumbai/ Delhi. Personal loan is given based on your monthly income. However, there are other factors too that are evaluated over and above your monthly salary. They include your credit score, repayment capacity, work experience, current EMIs, etc. You can get an estimate of the maximum personal loan you can get using our personal loan eligibility calculator.

For you to be eligible for our personal loan, you need to meet specific requirements. You need to be a resident of India between the age of 21 years to 60 years. You need to have a total minimum work experience of at least 1 year, and 6 months in the current company. As a salaried employee, you need to be earning INR 25,000 per month if you are based in Mumbai/ Delhi or INR 20,000 per month in the rest of India. If you are self-employed, you need to have a minimum yearly profit after tax that is determined based on your industry as per the current policy. You also need a minimum CIBIL score of 750.