Personal Loan for ₹25,000 Salary Apply now!
Find top personal loan options tailored for a ₹25,000 salary. Quick approvals, low interest rates, and flexible repayment terms to suit your needs.
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Personal Loan for ₹25,000 Salary: How Much Can You Get?
If you are earning a monthly salary of Rs. 25000, you may wonder how much personal loan can I get for 25000 salaries? The good news is that there are several banks, NBFCs, which offer loan. The banks offer loan after evaluating the applicant’s Fixed Obligations to Income Ratio (FOIR) and multiplier method which help you determine your loan eligibility, ensuring you can comfortably repay the loan without having any financial worries
Most Banks offer personal loans to salaried professionals earning a monthly salary of Rs. 25000. However, if due to some reasons, your application gets rejected, there’s no reasons to worry, there are several NBFCs which can process the loan application
How Personal Loan Eligibility is calculated: FOIR and Multiplier Method
Fixed Obligation to Income Ratio is a common method banks use to assess loan eligibility. FOIR takes into account his financial obligations including EMIs, rent, and other debts. Banks expect FOIR of 40 to 60 of your monthly income. For a ₹25,000 salary, if the FOIR is 40%, your obligations should not exceed ₹10000, allowing you to payback the remaining amount on EMI
Multiplier Method: Multiplier method is simpler and involves multiplying your monthly salary by a predetermined number usually between10-20. For instance, with a multiplier of 12, a salary of Rs. 25000 could potentially allow you to get personal loan of Rs. 3 Lakhs (25000*12)
Key Features and Services for Personal Loans on a ₹25,000 Salary
Personal Loans for those earning ₹25,000 per month come with a host of features that are designed to meet your evolving financial needs
- Loan Amount: Typically, you can borrow between ₹50000 and ₹500000 based on your eligibility
- Interest Rates: Competitive interest rates ranging from 10.49% to 25% based on your credit score and repaying ability
- Tenure: Repayment tenure from 12-50 months
- Quick Disbursal: Typically funds will be disbursed within 48 hours
- Minimal Documentation: Get the loans sanctioned with minimal documentation
Bank Interest rates - Personal loan for Salary of ₹25000
| Institution | Interest rates | Loan amount |
| DBS bank | From 10.99% | Upto 15 Lakhs |
| HDFC | From 10.5% | Upto 40 Lakhs |
| Axis Bank | From 10.49%` | Upto 40 Lakhs |
| ICICI bank | 10.75%-19% | Upto 40 Lakhs |
| Bank of Baroda | 10.75% – 18.5% | Upto 5 Lakhs |
| SBI | From 11% | Upto 30 Lakhs |
| IndusInd | From 10.49% | Upto 50 Lakhs |
| Yes Bank | From 10.99% | Upto 40 Lakhs |
| Standard Chartered | From 11.5% | Upto 50 lakhs |
| IDFC | From 10.49% | Upto 50 Lakhs |
| Kotak Mahindra | From 10.99% | Upto 40 Lakhs |
| PNB | From 11.40% | Upto 20 Lakhs |
| Bandhan bank | From 11.55% | Upto 25 Lakhs |
NBFCs Interest rates - Personal loan for Salary of ₹25000
| Institution | Interest rates | Loan amount |
| Piramal Finance | From 12.99% | Upto 35 Lakhs |
| Shriram Finance | From 14% | Upto 35 Lakhs |
| Tata Capital | From 10.99% | Upto 35 Lakhs |
| InCred | From 18% | Upto 3 Lakhs |
| Finnable | From 16% | Upto 10 Lakhs |
| PaySense | From 16.8% | Upto 5 Lakhs |
| Poonawalla | From 9.99% | Upto 30 Lakhs |
| Fullerton | From 11.99% | Upto 25 Lakhs |
| LendingKart | From 12% | Upto 3 Lakhs |
| Axis Finance | From 13% | Upto 25 Lakhs |
| L&T Finance | From 12% | Upto 7 Lakhs |
| Mahindra Finance | From 10.99% | Upto 10 Lakhs |
| Aditya Birla | From 11.99% | Upto 50 Lakhs |
| Bajaj Finance | From 11% | Upto 50 Lakhs |
Eligibility Criteria for a Personal Loan on ₹25,000 Salary
To qualify for a personal loan with a monthly salary of ₹25,000, you’ll have to need to meet certain eligibility criteria
- Age: Between 21 and 60 years.
- Employment Status: Salaried individual with a stable monthly income of Rs. 25000 atleast
- Work Experience: At least 1 year of total work experience with a minimum of 6 months in the current job.
- Credit Score: A good credit score, usually 700 and above to get the loan on favourable terms
- Cash Salary will not be accepted
Documents Required for a Personal Loan on ₹25,000 Salary
- Identity proof (Aadhar card, passport, or driving license)
- Address proof (utility bills or rental agreement)
- Income proof (salary slips or income tax returns)
- Passport-sized photographs
- Bank statements for the last 3-6 months, IT Returns, Employment proof, No Cash Salary
- Certificate of Incorporation, Certificate of Registration
- Duly filled application form
How to improve your chances of getting personal loan with a Rs 25000 salary?
- Maintain a Good Credit Score: Ensure your credit score is 700 or above by paying your dues on time. Make sure it does not drop by much
- Reduce Existing Debts: Lower your FOIRs to ensure higher chance of loan approval. If your FOIR is around 40%, then it is considered good
- Longer Tenure: Opt for a longer tenure to reduce your monthly EMI making it easier to manage when it comes to repayments.
- Apply with a co-applicant: To increase your chances, you can consider getting a co-applicant or guarantor with a better credit score to boost your chances.
How to Apply for a Personal Loan with a ₹25,000 Salary
Applying for a Personal Loan with a ₹25,000 Salary is a simple process nowadays with online applications:
- Online Application: Visit the bank’s website or use their mobile app to fill out the application form. Upload the necessary documents and wait for verification.
- Third Party aggregator: In a third party loan aggregator website like Fincover, you have the option to compare loans from multiple banks and NBFCs, enabling you to choose the best loan with interest rates affordable to you
- Input the details: Enter basic details like your name, DOB, and submit relevant documents required for personal loan approval
- Approval & Disbursal: When approved, you’ll receive the loan amount to your bank account within 2-3 days from the process
How Fincover can help you get Personal Loan with ₹25,000 salary?
Securing is a personal loan with ₹25,000 salary is entirely feasible, thanks to numerous banks and NBFCs out there and Fincover enabling you with a smooth application process.
- Transparent Process: The entire personal loan process from application to disbursal is transparent
- Customer-Centric Approach: Our Customer centric approach ensures you get the best support from our agents to get the loan amount that you desired
- Competitive Interest Rates: Get the best deal when it comes to interest rates and get the funds instantly credited to your account
With careful planning, a personal loan can help you achieve your financial goals without having to shell out anything from your savings
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