How Much Personal Loan Can I Get On 30000 SalaryPersonal loans help in fulfilling financial requirements and deal with uncertainties of life. There are many purposes where personal loan proves to be a boon for managing finances related to education, marriage, travel, property, hospital etc. Submitting a loan application is no more a lengthy and time-consuming process, all thanks to the acceptance of user-friendly instant loan apps and websites. Now, the question arises what is the amount of loan that I can earn based on my income or salary. How much loan can I get if my salary is Rs. 30,000 now?
The answer to this varies from lender to lender and the eligibility criteria that you fit in. usually, with a salary of Rs. 30,000 borrowers can avail small cash loans starting from Rs.15,000 to 2 lakh. This can be used to cover up immediate cash needs and clear debts. Higher the company’s reputation and a good salary bar increases the chances of acquiring a higher loan amount.
Maximum loan amount can be calculated using the EMI amount set for repayment. To check EMIs range and calculations, you can use the EMI calculator or personal loan eligibility calculator for accurate results.
What are the Eligibility Criteria for Personal Loan with 30000 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 Rs. 30,000 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.
There are a set of mandatory documents required along with the eligibility criteria for a loan approval with Rs. 30,000 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 minimum monthly income of INR 15,000 can also apply for a personal loan on Simply Cash.