Personal loan eligibility for salaried people
A general guide to what lenders look for. Each lender has its own rules, and Rupiyalo checks them for you in one go.
Who can usually get a personal loan
- Salaried, working for a company or the government
- Aged about 21 to 58
- Take-home salary of ₹15,000 to ₹25,000 a month or more, paid into a bank account
- About a year of work experience, 6 months or more with your current employer
- Existing EMIs under about half of your take-home pay
- A credit score of 700 or more gets the best rates; first-time borrowers can still qualify with some lenders
Estimate your loan
You might qualify for up to about
₹8,59,000
Your existing EMIs already use most of your salary, so lenders may not offer a new loan right now.
A rough guide assuming lenders allow EMIs up to 50% of take-home pay, at 14% a year over 60 months. Your real offers come from each lender's own rules.
How lenders decide how much you can borrow
Most lenders want your total EMIs, including the new loan, to stay under a set share of your take-home salary, often 40% to 60%. The rest of your salary is your headroom for a new EMI, and that EMI decides the loan amount.
Keep these handy
You don't need them to check your offers. After you apply, our team collects them and submits them to the lender with your application.
- PAN card
- Aadhaar, passport, voter ID or driving licence for ID and address
- Last 3 months' salary slips
- Last 3 to 6 months' salary account statement
- Employee ID or offer letter, if asked