If you fulfill the below-mentioned eligibility criteria, you can get a personal loan on Rs. 20,000 salary:
Personal Loan for Rs. 20,000

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Can I Get Personal Loan on Rs. 20,000 Salary?
Banks & Apps Giving Personal Loan on Rs. 20,000 Salary
Lenders usually consider individuals with their EMI/NMI ratio up to 55%. Individuals exceeding this limit are usually denied personal loans or are offered a lower loan amount to minimize the risk involved, especially to those with a low salary.
Maximum Loan Amount on Rs. 20,000 Salary
| Interest Rate (p.a.) | Loan Tenure (years) | Approximate Loan Amount |
|---|---|---|
| 10% | 5 | Rs. 5.16 lakh |
| 11% | 5 | Rs. 5.06 lakh |
| 12% | 5 | Rs. 4.95 lakh |
| 13% | 5 | Rs. 4.85 lakh |
| 14% | 5 | Rs. 4.76 lakh |
| 15% | 5 | Rs. 4.67 lakh |
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Personal Loan Eligibility on Rs. 20,000 Salary
Below-mentioned is the eligibility criteria of individuals having a monthly salary of Rs. 20,000:
Rs. 20,000 Salary Loan - CIBIL Score Requirement
Individuals having a CIBIL score of 760 and above usually have lower chances of loan rejection. A few lenders also offer personal loans to individuals having a lower CIBIL score. However, the interest rates offered in such cases are comparatively higher.
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How to Get a Higher Loan on Rs. 20,000 Salary
The loan amount eligibility depends on the repayment capacity of the applicant, which in turn depends on the debt-to-income ratio of the applicant. Individuals having a debt-to-income ratio of 55% or below are considered creditworthy by the lenders and carry a low credit risk. Such applicants are eligible for a higher loan amount.
Personal Loan EMI Calculator for Rs. 20,000 Salary
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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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Get up to ₹50 Lakhs starting at 9.99%*
Get up to ₹50 Lakhs starting at 9.99%*







