How Much Loan Can I Get On 15000 SalaryPersonal loan has been commonly accepted by borrowers belonging to different salary slabs. Those earning a salary of Rs 15,000 belong to the starting range of a personal loan eligibility criteria. It means a minimum of 15,000 salary is mandatory to avail a personal loan. The eligibility criteria are made simple with a minimum salary slab so that even the low salary income group can avail the benefit of personal loan.
Verification of monthly income is mainly done to probe the repayment ability of the applicant. With 15,000 salary, borrowers can easily avail small cash loans ranging from 50,000 to 1,50,000. This is easy to repay when broken down into EMIs. However, the loan amount can vary from lender to lender.
Simply Cash is one of the latest personal loan apps helping with instant loans within 24 hours. Get the SimplyCash app on your phone. Download from Google Play Store. Individuals applying for first-time loans or those with a minimum monthly income of INR 15,000 can also apply for an instant loan on the SimplyCash loan app.
Know the relevant features of an instant personal loan with a salary of Rs.15,000:Small Cash Loans: Small cash loans between Rs.50,000 to 1.5 Lakhs can be easily approved via instant loan apps, even if the borrower is new in the business. With a salary of Rs.15,000, it is easy to repay small cash loans in easy EMIs.
Collateral Free: Instant personal loans do not require a guarantor or an asset against the loan. As the loan amount is limited and the borrower’s income slab starts from Rs.15,000, a collateral-free personal loan is a good catch for getting speedy finance in times of emergency.
Security: It is a secured digital platform that you can trust to give away the personal details and income proof of minimum salary.
Paperless Documentation: A considerable amount of time is saved due to the digital KYC verification and income check-in in a paperless format. Borrowers with a salary of Rs.15,000 or more are required to submit their salary slip/bank statement.
Apply for Instant Loan with 15000 Salary on Simply Cash
Follow few simple steps to complete the loan application process:
- Register with basic details – mobile number, email address and pin code
- Set the desired EMI using the loan EMI calculator
- Paperless verification of KYC details using a security code
- Bank account verification through net banking; the credentials are never stored
- Instant loan approved in minutes and transferred to the bank account
What are the Eligibility Criteria for Personal Loan with 15000 Salary?
The monthly income of a person is significant when it comes to personal loan eligibility. Different lenders have different criteria for personal loans. For a personal loan application with 15,000 salary, fulfil the below eligibility criteria:
- Proof of Indian citizenship
- Six months bank statement and salary slip as income proofs
- Age eligibility criteria of an applicant ranges between 21-58 years
- You should be either salaried or self-employed individual/ businessman
- You should be working in/with either private or public sector
- Your credit history should meet the criteria set by the lender. Credit score may vary as different lenders set different bars as per their standards.
Documents Required for Low Salary Personal LoanEven though your salary is Rs.15,000 but the need for taking a personal loan is unavoidable. In such circumstances, increase your loan approval chances with the right set of mandatory documents. As the instant loan apps follow a paperless verification procedure, keep handy the below while submitting a loan application:
- You need to submit KYC details for personal identity and address proof verification (Aadhar card/Passport/Smart Card Driving License)
- Financial documents may include the last 6 months salary slip/bank statements or recent bank transaction slip to check the stability of your current income and ability to repay.
- Take a risk-free loan up to 1,50,000 via Simply Cash and pay at your convenience in a flexible tenure of 1 to 2 years.