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- Pre-Approved Offers from Axis Bank, Tata Capital, Hero Fincorp, IndusInd Bank and more.
Personal Loan for Rs 60,000 Salary

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Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2.5%
Max. Loan Amount₹2 Crore
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2.5%
Max. Loan Amount₹2 Crore
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹4999+GST
Max. Loan Amount₹50 Lakh
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹4999+GST
Max. Loan Amount₹50 Lakh
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹40 Lakh
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹40 Lakh
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹12999+GST
Max. Loan Amount₹50 Lakh
Processing Time3 - 5 Days
Interest Rate9.99% onwards
Processing Fees₹12999+GST
Max. Loan Amount₹50 Lakh
Processing Time1 - 2 Days
Interest Rate10% onwards
Processing FeesUpto 1.2%
Max. Loan Amount₹75 Lakh
Processing Time1 - 2 Days
Interest Rate10% onwards
Processing FeesUpto 1.2%
Max. Loan Amount₹75 Lakh
Processing Time1 - 2 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹1 Crore
Processing Time1 - 2 Days
Interest Rate9.99% onwards
Processing FeesUpto 2%
Max. Loan Amount₹1 Crore
Processing Time3 - 5 Days
Interest Rate17% onwards
Processing FeesUpto 4%
Max. Loan Amount₹50 Lakh
Processing Time3 - 5 Days
Interest Rate17% onwards
Processing FeesUpto 4%
Max. Loan Amount₹50 Lakh
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Benefits of Applying for a Personal Loan on Rs 60,000 Salary through Paisabazaar
How Much Personal Loan Amount You Can Get on Rs 60,000 Salary?
EMI/NMI Ratio
The EMI/NMI (Equated Monthly Installment/Net Monthly Income) ratio is an important method for lenders to assess your repayment capacity. The ratio indicates how the proportion of your income is allocated towards repaying existing loans, including the proposed loan. Most banks and NBFCs prefer to set the ratio within 50%-55%. So, even if you have no existing debt, lenders would prefer to set the loan amount and tenure to ensure that your EMI remains around Rs 30,000 for a salary of Rs 60,000, assuming a 50% EMI/NMI ratio.
Multiplier Method
Most banks and NBFCs use a multiplier method to calculate your loan amount. In this method, your NMI is multiplied by a pre-determined number (usually 10 to 24) to assess your personal loan eligibility. However, existing debt also plays a role in determining your loan amount.
Check below the personal loan amount you can get with a Rs 60,000 monthly salary based on different multipliers:
| Multipler | Monthly Salary | Estimated Loan Amount |
|---|---|---|
| 10x | Rs 60,000 | Rs 6 lakh |
| 15x | Rs 60,000 | Rs 9 lakh |
| 20x | Rs 60,000 | Rs 12 lakh |
| 25x | Rs 60,000 | Rs 15 lakh |
Pre-Approved Personal Loan Offers on Rs 60,000 Salary
Salaried applicants earning Rs 60,000 per month can be eligible for pre-approved offers from their existing bank or NBFC - especially if they have a salary account with that respective lender. If you have a consistent monthly income, a strong credit score and a good repayment history, you might be eligible for pre-approved loans or instant personal loans with disbursal in minutes to hours. Further, most lenders offer preferential interest rates to those applicants.
At Paisabazaar, you can get pre-approved offers from Tata Capital, Axis Bank, IndusInd Bank, Hero Fincorp, Federal Bank, Aditya Birla Capital, etc.
| Interest Rates (p.a.) | |
|---|---|
| Aditya Birla Capital | 12.99% onwards |
| Federal Bank | 12.00% onwards |
| Axis Bank | 14.00% onwards |
| IndusInd Bank | 15.00% onwards |
| Piramal Finance | 16.00% onwards |
| Tata Capital | 18.00% onwards |
| Hero Fincorp | 20.00% onwards |
Personal Loan Eligibility Criteria for Salaried Applicants
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Fees & Charges for Personal Loan with a Salary of Rs 60,000
Processing Fees & Other Charges
Late/Missed EMI Payment Charges
Personal Loan Documents Required During the Application Process
| Particulars | Documents |
|---|---|
| General personal loan documents | -PAN Card & Aadhaar Card -Last 3 months salary slips -Last 1 year bank statements -Employment proof, such as an offer letter |
| Digital Document Processing | No physical documents. The loan processing is through digital KYC (e-KYC) processes. Usually, only PAN and Aadhaar numbers are required. |
| Documents for Pre-Approved Loans | No documents required as the lender already has your KYC documents |
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FAQs
How much personal loan can I get with a Rs 60,000 salary?
You can get a loan ranging from Rs 6 lakh to Rs 15 lakh (considering a 10x-25x multiplier), depending on your repayment capacity, credit profile and the lender’s credit policies.
How much personal loan can I get on a 60,000 salary in SBI?
SBI offers personal loans of up to Rs 35 lakh. The EMI/NMI ratio is set up to 65% & 24-times NMI, whichever is lower. You might be eligible for a personal loan amount of up to Rs 14.40 lakh, on a Rs 60,000 salary. However, the final loan amount depends on your credit profile. Check with the bank on your personal loan eligibility and the loan amount.
Can I get a personal loan on a Rs 60,000 salary with no existing debt?
You can get a personal loan depending on the eligibility criteria, i.e., minimum monthly income, credit score, etc, set by the lender. Additionally, the lender may offer you higher personal loan amounts when your EMI/NMI ratio is low.
Who is eligible for a Rs 1 lakh personal loan?
Your eligibility for Rs 1 lakh personal loan depends on factors like your credit score, existing EMIs, employer profile, occupation, monthly income and repayment capacity. The lender may set higher minimum income criteria for higher loan amounts.
Personal Loan Articles
View All ArticlesPaisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.
The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.
The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.
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