How Much Loan Can I Get On 25000 SalaryMaximum loan amount with 25,000 salary depends upon the emergency situation and nature of work. The basic income for personal loan sanction starts from Rs 15,000 salary, so those earning 25,000 can easily apply for personal loan. Moreover, the online cash loan apps and websites are easily accessible 24x7 for availability of different types of loans. Getting clarity on the salary criteria before applying for a loan increases the confidence of loan application and approval.
Borrowers can calculate the maximum loan amount using the monthly salary criteria that each one earns. Supposedly, you earn a salary of 25,000 so it is quite evident that EMIs will be set according to your monthly expenditure. On the other side, just imagine if you have no idea about the EMIs to be paid every month, will you go for a personal loan? Obviously not! Staying updated with the EMI amount before hand takes off the burden of repayment. Hence, whether you earn 25,000 or 30,000, borrowers are allowed to flexibly set an EMI using the EMI calculator.
EMI calculators give 100% accurate results in seconds. It is a freely available tool in-built with instant personal loan apps and websites. In accordance to your 25,000 salary, choose a loan amount, percentage of interest and tenure to be repaid.
What are the Eligibility Criteria for Personal Loan with 25,000 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 25000 salary, you should 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 between 21-58 years
- You should either be 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.
There are a set of mandatory documents required along with the eligibility criteria for a loan approval with 25,000 salary or more:
- Standard KYC documents - Aadhar card, Driver’s licence, PAN card, Passport
- Income documents – recent salary slips for salaried individuals and bank statement for self employed
Irrespective of the salary slab, the Simply Cash app gives loan seekers the freedom to apply for different types of loans such as vacation Loan, education Loan, consumer loan, home renovation loan, medical loan etc. It gives you a choice to select your preferred loan type. Individuals with a minimum monthly income of INR 15,000can also apply for a personal loan on Simply Cash.