How much personal loan can I get on 15,000 salary?

Securing a personal loan with a salary of ₹15,000 is feasible, but the loan amount you can obtain depends on various factors. Understanding the range of loan amounts available and exploring options to enhance your eligibility can help you make informed decisions regarding your borrowing needs.

Personal Loan Amount on a ₹15,000 Salary:

Varies Depending on Lending Institutions:

• Personal loan amounts typically range from ₹50,000 to ₹5 Lakhs, depending on the lending institution's policies and your financial profile.
• Lending Institutions assess factors such as income, credit history, employment stability, and debt-to-income ratio to determine the maximum loan amount you qualify for.

Consider a Co-signer with a Higher Income:

• To enhance your eligibility for a higher loan amount, you may consider adding a co-signer with a higher income.
• A co-signer with a better financial profile can reassure lending institutions and increase your chances of approval for a larger loan amount.

While securing a personal loan with a salary of ₹15,000 is possible, the loan amount you can obtain varies depending on the lending institution's policies and your individual financial circumstances.

Loan amounts typically range from ₹50,000 to ₹5 Lakhs, but you can enhance your eligibility for a higher loan amount by considering options such as adding a co-signer with a higher income.

By understanding the range of loan amounts available and exploring strategies to improve your eligibility, you can make informed decisions to meet your financial needs effectively.