How much can I borrow with a personal loan?

Different financial institutions have different minimum and maximum limits for the eligible personal loan amount. However, as a general rule of the thumb, you can borrow personal loan amounts typically ranging from ₹50,000 to ₹25,00,000 or more, depending on factors such as your credit score, income, debt-to-income ratio and the lending institution’s policies.

It is essential to borrow only what you need and can comfortably repay to avoid financial strain.

When considering a personal loan, keep in mind that the same factors affecting your borrowing capacity apply:

• Credit Score: A higher credit score may make you more eligible for a higher loan amount.
• Income and Debt-to-Income Ratio: Lending institutions will evaluate your monthly income and existing debt obligations to determine your repayment capacity.
• Financial Institution Policies: Different lending institutions may have their own rules and limits on loan amounts, so it is crucial to research and compare lending institutions to find the best loan option for your financial situation.