Minimum Income to Get Personal Loan in 2025: Personal loans are very demanding loan scheme which are provided by banks and non banking financial companies to their customers. However the personal loan or available for everyone in the bank, but banks are giving preferences to the customers who are getting monthly salary or have a good turnover of their business.
So if you are also looking for a good scheme for personal loan with minimum monthly salary then you can check this article where we will discuss with you the details of personal loan eligibility criteria for self employed as well as salaried persons. We will also share with you the Minimum Income to Get Personal Loan in 2025 in banks and financial companies.
Minimum Income to Get Personal Loan in 2025
Personal loans are unsecured loan scheme for landers who are providing the loan amount to their customers as the company or Bank usually not submit any collateral from their customers while providing the loan, So banks do not have any security to get back their amount from the customers. So they are providing personal loan only those customers who have capacity to repay the loan amount.
So if you are getting monthly salary in your bank account then it is a good indicator to get flexibility by applying for personal loan. Most of the banks are inviting individuals who are earning more than 15000 rupees per month from last 1 year to 6 months. However, most of the employees who are earning 20000 to 25000 per month are automatically receiving loan offers from different landers. Banks are also checking the consultancy of monthly salary of the customer so it is important to work in a company from last 6 month to 1 years, but if you are an employee from last 2 years then you will definitely get loan amount from the company easily.
₹20000 Salary Per Month Loan Amount
Apart from the employees, personal loans are also available for self employed customer. If you are earning the amount with your own business with a good turnover then you are eligible to apply for personal loan. However if any person is working in any unorganised sector and not getting their salary in the bank account can also be calculated under self employed person. So these customers should have at least 1.5 lakh annual turnover in their bank account with at least 2 years. Banks can check the balance sheet of the business, last few months bank statement to check the bank details of the customer and after that will provide the loan amount accordingly.
₹20000 Salary Personal Loan Eligibility
Banks are also considering the good customer to provide a personal loan through their CIBIL score. It is 3 digit number which is ranked between 300 to 900. If you score more than the 750 your CIBIL score will be considered good and you will not get difficulty while applying for a personal loan. However the civil score less than 700 is a red Flag for customers as well as banks because it is the representation of the trusteeness of the customer.
So if your cibil score is bad then it is your duty to improve it. Most of the bank are rejecting the loan application forms from the customers who have a good turnover and good monthly salary but have a bad cibil score. On other hand, if any person have high cibil score then he can also get loan offer from the company with the minimum 12000 to 15000 rupees monthly salary.
Apart from the CIBIL score, age of the applicant should also be between 21 years to 58 years, however self employed can apply up to the age of 65 also. So if you are compiling all these essential eligibility, then you can check your chance to get approval for the personal loan in the bank and non banking financial company.
Apply for Minimum Salary for Personal Loan in India
Banks are following strict rules and eligibility criterias to provide the personal loan, but non banking financial companies have flexibility to referame the eligibility criteria. So if you are earning a minimum monthly salary and not getting approval from the bank, then you can apply for personal loan in NBFC websites and mobile applications. However these companies are charging the maximum interest rate for up to 38%. But if you negotiate with the landers, and have good CIBIL score then you can get loan offer with minimum interest rates accordingly.
