Can I get a personal loan if my salary is ₹40,000? 

Yes, it is possible to get a personal loan with a monthly salary of ₹40,000. The exact loan amount you qualify for will depend on various factors, including:

• Credit Score: A good credit score (generally 750 or above) can increase your chances of approval and may result in lower interest rates.
• Credit History: A history of on-time payments demonstrates responsible financial behaviour.
• Debt-to-Income Ratio: Lenders check your existing debt to see if you can repay a new loan. A lower debt-to-income ratio is generally preferred.
• Loan Tenure: The length of the loan can impact the monthly instalments.
• Lender Policies: Different lenders may have varying criteria and eligibility requirements.
• Employment Stability: A stable job history can positively influence your loan application.
• Age: Most lenders have age restrictions for personal loans, typically between 21 and 60 years.
• Additional Income Sources: If you have income from investments or side businesses, it can improve your eligibility.

To get a better estimate of the loan amount you can qualify for, contact multiple lenders. Provide your financial details to them. They can check your eligibility and offer loans based on your specific situation. Remember to compare offers from different lenders to find the best terms and interest rates.