- Get personal loan from various top banks such as Axis Bank, ICICI Bank, HDFC Bank, IDFC FIRST Bank, Kotak Mahindra Bank, IndusInd Bank, YES Bank and over 30+ lenders
- Avail a personal loan with minimal documentation
- Avail loan of up to Rs. 40 lakh from top banks and NBFCs with a digital application process
- Know your chances of approval
- Check your credit score for free
- Pre-Approved offers from Axis Bank, Tata Capital, IndusInd Bank Hero Fincorp, and more.
Personal Loan for Rs. 80,000 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 Fee₹ 6,500
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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End-to-End Digital Process
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
Why Apply for Personal Loans Through Paisabazaar?
Eligibility Criteria for Salaried Applicants Earning Rs. 80,000 Per Month
Pre-Approved Personal Loan Offers on Rs. 80,000 Salary
Pre-approved personal loans enable you to get loans approved quickly and with minimum documentation. If you have a good credit score, a good repayment history and regular monthly income, you may be eligible for pre-approved personal loans.
You can get pre-approved offers from Axis Bank, Tata Capital, IndusInd Bank, Federal Bank, Hero Fincorp, Aditya Birla Capital, etc., through Paisabazaar.
What Banks Offer on Rs. 80,000 Salary: Loan Amounts & Minimum Income Criteria
| Bank/NBFC | Minimum Salary Requirement | Maximum Loan Amount |
|---|---|---|
| ICICI Bank | Rs. 30,000 | Up to Rs. 50 lakh |
| HDFC Bank | Rs. 25,000 | Up to Rs. 40 lakh |
| Kotak Mahindra Bank | Rs. 25,000 for Kotak Bank Salary Accountholders;
Rs. 30,000 for Non-Kotak Bank Salary Accountholders |
Up to Rs. 40 lakh |
| State Bank of India | Rs. 20,000 for Government/Defense Sector Employees;
Rs. 25,000 for Corporate Sector Employees |
Up to Rs. 35 lakh |
| IndusInd Bank | Rs. 25,000 | Up to Rs. 50 lakh |
| Axis Bank | Rs. 15,000 for Axis Bank Customers;
Rs. 25,000 for Non-Axis Bank Customers |
Up to Rs. 10 lakh |
Avail Personal Loan for
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Avail Personal Loan for
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How Much Personal Loan Amount Can you Get on Rs. 80,000 Salary?
EMI/NMI Ratio
Lenders generally prefer that your EMI should not exceed the 50%-55% limit of your net monthly income. For example, you apply for a personal loan of Rs. 5 lakh @ 10% p.a. with a salary of Rs. 80,000 and have no other existing EMIs. In this case, the EMI of the proposed loan would be Rs. 16,134, and the tenure option offered would usually be for 36 months. Note that lenders usually prefer to set the personal loan amount and repayment tenure to ensure that your EMI remains around 50%-55% of your monthly income.
Multiplier Method
Most personal loan lenders use a multiplier method to calculate your maximum loan amount. It usually ranges between 12%-24% of your NMI or Net Monthly Income. Moreover, your existing EMIs also play a crucial role in determining your loan eligibility.
Documents Required for Personal Loan Application
General Personal Loan Documents
Digital Document Processing/Paperless Documents
No physical documents are needed for digital personal loans. The application is processed via e-KYC or digital KYC processes. Generally, only PAN and Aadhaar numbers are required.
Documents for Pre-Approved Loans
Pre-approved personal loans do not require any documentation, as the lender already has your KYC documents and the initial credit assessment of their customers is already done.
Tips to Get the Best Personal Loan Offer on 80000 salarly
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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Avail Personal Loan for
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Avail Personal Loan for
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FAQs
How much personal loan can I get on Rs. 80,000 salary?
On a monthly salary of Rs. 80,000, you can get a loan amount ranging from Rs. 9,60,000 to Rs 19,20,000, considering a 12x-24x multiplier preferred by most lenders. Your existing EMIs, credit profile and the lender’s credit policies are other factors that can affect your loan amount eligibility.
What are foreclosure charges on a personal loan?
In case you foreclose your personal loan before the loan repayment tenure, the lender may levy foreclosure charges on the outstanding loan amount. The foreclosure charges on personal loans can go up to 5% of the outstanding principal amount.
What is the repayment tenure of Rs. 80,000 salary personal loan?
The personal loan repayment tenure usually ranges between 1 year to 5 years. However, some public sector banks also offer a tenure of up to 7 years.
What is the interest rate for a personal loan on a Rs. 80,000 monthly income?
Most banks and NBFCs provide personal loans starting @ 9.98% p.a. The interest rate offered on your personal loan is generally set on the basis of your credit profile and the lenders’ internal policies. Some public sector banks may however, offer personal loans at lower interest rates.
Can I get an instant personal loan with a Rs. 80,000 monthly income?
Yes, many banks and NBFCs offer instant or pre-approved personal loans to salaried individuals earning Rs. 80,000 per month, particularly if you have a good repayment record and maintain a salary account with the same bank.
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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