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Personal Loan for Low Salary

The term ‘low salary’ is relative and may mean different figures for different people depending on their profession, sector, geographical locations, occupation, etc. Similarly, the minimum income requirement set by the banks and NBFCs for availing personal loans may also vary, ranging from as low as Rs. 10,000 to Rs. 30,000 or even more.
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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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Banks/NBFCs having minimum salary requirement of above Rs. 10,000 & up to Rs. 15,000

Lenders Interest Rates
Min. Salary Required
PaySense 1.4%- 2.3% per month Rs. 12,000
Moneyview 14% p.a. onwards Rs. 13,500
SBI 10.10%-15.10% p.a. Rs. 15,000
Axis Bank 9.99% p.a. onwards Rs. 15,000
Tata Capital 11.50% p.a. onwards Rs. 15,000
CASHe 2.79% p.m. onwards Rs. 15,000
Fibe (EarlySalary) 18.00% p.a. onwards Rs. 15,000

Note: Interest rates as of 25 August 2025

Eligibility Criteria for Personal Loans offered to Low-income Groups

The primary factors that banks and NBFCs consider while evaluating personal loan application would include your credit score, income, age, occupation and employer’s profile. These factors will also largely determine the personal loan interest rates offered to you by the lenders. Below mentioned are the basic eligibility criteria along with documents required to avail personal loan for a low salary:

Banks/NBFCs having minimum salary requirement of Rs. 10,000 & below

Lender Interest Rates Min. Salary Required
KreditBee 12.00% - 28.50% Rs. 10,000

Note: Interest rates as of 25 August 2025

Documents Required

  • Duly filled application form with passport-sized photographs
  • KYC documents of the applicant
  • Identity Proof: Passport/PAN Card/ Voter’s ID/ Aadhaar Card/ Driving License
  • Address Proof: Passport/ Aadhaar Card/ Utility Bills (not more than 3 months old)/ Driving License
  • Income Proof: Salary Slips/ Bank Account Statement/ Form 16
  • Any other document required by the bank

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Banks/NBFCs having minimum salary requirement of above Rs. 20,000 & up to Rs. 30,000

Lenders Interest Rates Min. Salary Required
HDFC Bank 9.99% p.a. onwards Rs. 25,000
Kotak Mahindra Bank 10.99% p.a. onwards Rs. 25,000
IndusInd Bank 10.49% p.a. onwards Rs. 25,000
ICICI Bank 10.60% p.a. onwards Rs. 30,000

Note: Interest rates as of 25 August 2025

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

Avail Personal Loan for
All Your Needs

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Avail Personal Loan for
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FAQs

If I do not have a salary slip, can I get a personal loan?

Salary slip acts as proof of your employment. It also helps lenders to assess your repayment capacity. So if you are unable to furnish your salary slip, the bank may request for other documents as a proof of income such as your bank statements reflecting your salary, ITR filed previously and Form 16. Some lenders also have various surrogate programs to arrive at the loan eligibility for applicants not having salary slip and/or other income proof documents.

Can I get a personal loan without security even if my salary is low?

Yes. Personal loans are collateral-free loans and can be availed if you meet the minimum salary criteria and other eligibility parameters as defined by the lender.

If my CIBIL score is low, can I get a personal loan with a low salary?

As high credit score or CIBIL score reflect financial discipline; therefore, lenders prefer lending personal loans to applicants with CIBIL scores of 750 or above. Those having CIBIL scores below 750 might be rejected for the loan or charged higher interest rates on the loan. However, there are some NBFCs and fintech lenders that offer personal loans to individuals with low CIBIL score/credit score but at interest rates higher than banks and large NBFCs.

If my salary is Rs. 15,000 monthly, how much is the personal loan amount I can avail?

The maximum personal loan that an individual can get on his salary would depend on his monthly income but also on his existing loan repayment obligations (including the EMI of the proposed loan) and the loan tenure. Moreover, lenders generally require the total EMI of an applicant (including the EMI of the new loan) to not exceed 50-55% of his monthly income.

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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