How Much Personal Loan Can I Get On 20000 SalaryWhen speaking about personal loan, several goals and objectives start gliding before the eyes. Individuals who are ambitious, competitive and aspire to grow take support of personal loans for managing urgent finances at some point of time. The ease of personal loan application today has attracted and lured individuals to avail credits even if the salary is minimum.
Every individual has the right to enjoy benefits ofinstant personal loans available online. People with a minimum salary of 15,000 - 20,000 monthly can benefit from personal loan after quick approval online through cash loan apps and credit websites. An individual can get personal loan based on their salary and credit history. Also, the loan amount and interest rate may vary from lender.
You can calculate the loan amount using the monthly salary criteria. Once an individual has an idea on how much amount can be paid in EMI’s every month excluding their regular expenses, calculating loan amount using EMI Calculator available on financial websites or personal loan apps can be done easily.
Eligibility Criteria for availing instant loan with a salary of 20,000
- Must be a citizen of India
- Age limit must be 21-58 years’ old
- Must be stable in professionally in a job or business
- Must earn a minimum income of Rs. 15,000 per month
- Six months’ bank statement of salary account for salaried and 6 months’ bank statement with most transactions for self-employed
- Decent credit score
The online hassle-free documentation reduces the stress of physical loan application. Submission of mandatory documents for an instant loan up to 1.5 lakh requires:
- Aadhar card is the first document when applying for instant personal loan
- In the absence of Aadhar card, you can provide your Pan card/ driving license
- Other important documents include your professional and financial details inclusive of salary slips and income statements
- Your account should be in any of the accepted banks as suggested by the financial institution
Benefits of Applying for Loan on20000 Salary with Simply Cash
SimplyCash is a one-stop solution powered by HeroFinCorp, one of the fastest growing financial services company for all your instant cash requirements. It is a paperless process and requires minimal documentation that makes Simply Cash a perfect personal loan app for a loan amount ranging from 50,000 to 1,50,000/- instantly.
This kind of small cash loans proves beneficial for individuals who have minimum income in a range of Rs. 15,000 to Rs. 20,000/- monthly and hesitate in applying for personal loan, assuming they may not be eligible.
Majority of people do not have clarityon how to apply for low to medium income personal loans. All thanks to SimplyCash instant personal loan app for providing flexible eligibility criteria on their digital loan app. The SimplyCash app facilitates personal loan within 24 hours or less than that based on your eligibility criteria and documents verification.