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How Much Personal Loan Can I Get Based on My Salary

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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

Apply Now

How Do Lenders Calculate Personal Loan Eligibility?

Lenders usually use Multiplier Method and EMI/NMI Ratio or a combination of these two methods to calculate your personal loan amount eligibility.

1. Multiplier Method

Lenders multiply your net monthly income by a set number (usually between 10 to 24) to calculate personal loan eligibility.

For instance, if your salary is Rs. 40,000 and the lender uses a 15x multiplier, you can get personal loan of up to Rs. 6 Lakh.

Here’s a quick overview of how much personal loan you can get based on your monthly salary as per the multiplier method:

Monthly Salary Maximum Loan Amount
Rs. 15,000 Rs. 2.25 Lakh
Rs. 20,000 Rs. 3.00 Lakh
Rs. 25,000 Rs. 3.75 Lakh
Rs. 30,000 Rs. 4.50 Lakh
Rs. 35,000 Rs. 5.25 Lakh
Rs. 40,000 Rs. 6.00 Lakh
Rs. 45,000 Rs. 6.75 Lakh
Rs. 50,000 Rs. 7.50 Lakh
Rs. 60,000 Rs. 9.00 Lakh
Rs. 70,000 Rs. 10.50 Lakh
Rs. 80,000 Rs. 12.00 Lakh
Rs. 90,000 Rs. 13.50 Lakh
Rs. 1,00,000 Rs. 15.00 Lakh

Note: For the above calculation, existing loan repayment obligations has been considered to be zero. For the multiplier method, the maximum loan amount is 15 times the NMI.

2. EMI/NMI Ratio

This method evaluates what percentage of your income goes towards EMIs. Most lenders prefer an EMI/NMI ratio of under 50–60%.

If you’re already repaying loans, the new loan amount will be adjusted to keep the EMI/NMI ratio within limits.

Want to check how much personal loan you’re eligible for? Visit Paisabazaar — India’s leading online financial marketplace — to compare personal loan offers from 30+ partner banks and NBFCs. You can also check pre-approved offers and your chances of approval — all without affecting your credit score.

How to Check Personal Loan Offers at Paisabazaar?

Follow these steps to check eligible personal loan offers:

  1. Enter your mobile number in the application form
  2. Provide your personal details
  3. Enter OTP to verify your mobile number
  4. Select the loan purpose and loan amount
  5. Compare offers and apply for the best-suited loan

Personal Loan Eligibility Criteria for Salaried Individuals

To qualify for a personal loan, you must meet the basic eligibility requirements:

  • Age: 21-60 years
  • Monthly income: Minimum Rs 15,000-Rs.25,000 (varies by lender)
  • Employment: Salaried with a stable job in a reputed organization
  • Work experience: At least 6 months to 1 year in current job

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How to Improve Your Eligibility for Higher Loan Amount

Opt for a longer tenure to lower EMI/NMI ratio

Choosing a longer repayment tenure reduces your EMI burden, thereby improving your EMI/NMI ratio and increasing the loan amount you’re eligible for.

Important Tip: Lenders prefer sanctioning personal loans to those having their total EMIs, including the EMI of the new loan, within 50-60% of their net monthly income.

Transfer or choose a lender offering low interest rates

Availing personal loans at lower interest rates would reduce your total EMI obligations, thereby, decreasing your EMI/NMI ratio and increasing the loan amount eligibility.

Important Tip: Use online financial marketplaces like Paisabazaar to compare personal loan offers based on their personal loan interest rates and other loan features and select the one that best suits your loan requirements based on various aspects of your credit profile, including your salary.

Declare additional income sources

If you have extra income from investments, rent or freelance work, declare it when applying for the personal loan.

Salary Requirements of Multiple Banks and NBFCs

  • SBI: Up to Rs. 35 Lakh or 24x NMI
  • HDFC Bank: Up to Rs. 40 Lakh
  • ICICI Bank: Up to Rs. 50 Lakh
  • Axis Bank: Up to Rs. 10-25 Lakh
  • Bajaj Finserv: Up to Rs. 25 Lakh
  • Kotak Mahindra Bank: Up to Rs. 35 Lakh
  • IndusInd Bank: Up to Rs. 50 Lakh

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

It depends on your income, credit score, and liabilities. Typically, salaried individuals can get personal loans ranging from 10 to 24 times of their monthly income.

SBI offers up to 24 times your NMI. On Rs. 50,000, you may get up to Rs. 12 Lakh, provided you have no other EMIs.

You can get a loan between Rs. 9 – 12 Lakh depending on the lender and your existing obligations.

Based on a 15–20x multiplier, you can get up to Rs. 10.5 – Rs. 14 Lakh, subject to eligibility.

Expect up to Rs. 5 – 6.5 Lakh, based on EMI/NMI ratio and repayment history.

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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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