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A monthly salary of Rs. 1 lakh may increase your chances of being approved for a personal loan with a higher loan amount. With a strong credit profile, good credit score and solid income records, you can qualify for a personal loan of high value at competitive rates. On Paisabazaar, you can compare and apply for several eligible loan offers from the best lenders.
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Voucher on disbursalCheck Personal Loan Offers Online
Customer Rating
2839 Reviews
Wide Choice
Curated offers from 30+ lenders
Borrow at Best
Get the best personal loan interest rate
SmartMatch
Offers ranked according to eligibility
Digital Process
Hassle-free & paperless
Compare & Choose the Best Offer
Pre-approved Offers with Instant Disbursals
Know Your Chances of Approval
End-to-End Digital Process
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
| Particulars | Details |
|---|---|
| Eligible Monthly Income | Rs. 1,00,000 and above |
| Interest Rate Range | 9.98% – 24% p.a.* |
| Loan Amount | Up to Rs. 25 lakh or more (depends on profile) |
| Tenure | 12-60 months |
| Processing Fees | 0.5%-4% of the loan amount |
| Credit Score Required | 750 or above preferred |
*Interest rates vary by lender, credit history, and employer profile.
You can use a personal loan for multiple purposes, such as:
Lenders perceive salaried individuals with consistent income as low-risk borrowers, which helps secure lower interest rates and higher loan limits.
Here’s an overview of interest rate ranges offered by top banks and NBFCs in India:
| Banks/NBFCs | Interest Rates | Processing Fees |
|---|---|---|
| HDFC Bank | 9.99 % - 12.5 % | Rs. 3499 to Rs. 6500 |
| Axis Bank | 9.99 % - 17.15 % | 1% - 1.5 % |
| ICICI Bank | 11 % - 13.0 % | Up to 2% |
| Kotak Mahindra Bank | 9.98% - 17.2 % | 1.1% - 1.5 % |
| IndusInd Bank | 10.35% - 16.5% | 1.3% - 2 % |
| IDFC FIRST Bank | 10.5% - 20.0 % | Up to 2% |
| Federal Bank | 12.0% - 19.5 % | Up to 2% |
| YES Bank | 13% - 16% | 1.5% - 2.25% |
| Tata Capital | 11.99 % - 13.99 % | Up to 1.25% |
| Aditya Birla Finance | 10.99% p.a. onwards | Up to 4% |
| L&T Finance | 11.00% p.a. onwards | Up to 3% |
| Hero Fincorp | 19.75%-30.00% p.a. | 2.3%-3% |
| Piramal Finance | 12.90% p.a. onwards | Up to 5% |
| Poonawalla Fincorp | 18%-36% p.a. | Up to 3% |
| Moneyview | 14%-36% p.a. | Up to 2% |
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Lenders usually offer personal loans of 10 to 20 times your monthly income, depending on your liabilities and creditworthiness. If your salary is Rs. 1 lakh per month, you can expect a loan amount anywhere between: Rs. 10 lakh to Rs. 20 lakh (subject to eligibility)
However, the final amount depends on:
Here’s how your EMI may look for a Rs. 12 lakh personal loan for different interest rates:
| Tenure | 11% | 13% | 15% |
|---|---|---|---|
| 1 | Rs. 1,06,058 | Rs. 1,07,181 | Rs.1,08,310 |
| 2 | Rs. 55,929 | Rs. 57,050 | Rs. 58,184 |
| 3 | Rs. 39,286 | Rs. 40,433 | Rs. 41,598 |
| 4 | Rs. 31,015 | Rs.32,193 | Rs. 33,397 |
| 5 | Rs. 26,091 | Rs. 27,304 | Rs. 28,548 |
Also Read: Use Paisabazaar's free Personal Loan EMI Calculator and plan better.
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Lenders may also consider your city, job stability, and repayment track record when assessing eligibility.
You’ll need to submit the following documents while applying for a personal loan:
You can apply easily online through Paisabazaar
Online applications usually take a few minutes and offer instant eligibility checks without affecting your credit score.
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
Explore Our Personal Loan Lenders
HDFC BANK
Axis Bank
Kotak Mahindra Bank
ICICI Bank
Federal Bank
IDFC First Bank
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Last updated: 13 October, 2025
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