Loan Eligibility Calculator

Use our loan eligibility calculator to check how much personal loan you are eligible for based on your income and existing EMIs.

Your Details

Enter 0 if you have no existing loans

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Eligible Loan Amount

Eligibility Details

Monthly Income₹50,000
Existing EMI₹0
Max EMI Capacity₹0
Age30 years

💡 Note

  • • Eligibility is calculated based on 40% of monthly income
  • • Actual eligibility may vary based on credit score and lender policies
  • • This is an estimate, final approval depends on lender verification
  • • Maintain a good CIBIL score for better loan terms

How Much Personal Loan Can You Get Based on Your Salary?

Our loan eligibility calculator gives you an instant estimate. Every lender in India uses a straightforward formula to decide how much they’re willing to lend you: your monthly income, minus your existing obligations, multiplied by a factor that represents the maximum EMI they’re comfortable with. That factor is typically 40–50% of your take-home salary. Beyond that, they consider it risky for both you and them.

This means your loan eligibility isn’t a fixed number. It changes based on your income, your current debts, and even the interest rate you’re offered (which itself depends on your credit score). Someone earning ₹30,000 with no existing EMIs is in a very different position from someone earning ₹30,000 who’s already paying ₹8,000 toward a car loan.

Loan Eligibility by Salary Bracket

Here’s a realistic picture of what you can expect at different income levels. These estimates assume no existing EMIs, a CIBIL score of 700+, and a 3-year personal loan tenure at 14% interest:

Monthly SalaryMax EMI (40%)Approx. Loan AmountWhere to Apply
₹15,000₹6,000₹1.7 lakhLoan apps (KreditBee, Navi)
₹20,000₹8,000₹2.3 lakhLoan apps, some NBFCs
₹25,000₹10,000₹2.9 lakhNBFCs, select banks
₹30,000₹12,000₹3.5 lakhMost banks and NBFCs
₹40,000₹16,000₹4.6 lakhAll banks, competitive rates
₹50,000₹20,000₹5.8 lakhPre-approved offers likely
₹75,000₹30,000₹8.7 lakhPremium personal loan offers
₹1,00,000₹40,000₹11.6 lakhBest rates, highest limits

These are estimates. Actual eligibility depends on your CIBIL score, employer profile, and the specific lender’s policies. Compare loan apps to find the best match. For your exact take-home salary, use our in hand salary calculator.

Why Your CIBIL Score Changes Everything

Two people can earn the same salary and get very different loan offers. The difference is almost always the credit score. Here’s what it looks like in practice:

  • 750+ score: You get the advertised “starting from” rates. Faster approval, higher amounts, sometimes pre-approved offers without document submission.
  • 700–749: Approval is likely, but you’ll probably get a rate 1–3% higher than the headline rate. Amounts may be slightly lower.
  • 650–699: Banks will be cautious. You might get approved at 18–22% instead of 12%, and for a lower amount. NBFCs and loan apps are more flexible in this range.
  • Below 650: Most banks will decline. Some loan apps may still lend small amounts (₹25,000–₹1 lakh) at 24–30% interest. It’s usually better to improve your score first.

Don’t know your score? Check it for free here before applying anywhere.

How Existing Debt Affects Your New Loan

If you’re already paying an EMI of ₹5,000 and your income is ₹30,000, your available EMI capacity drops from ₹12,000 to ₹7,000. That’s a drop in eligible loan amount from ₹3.5 lakh to about ₹2 lakh — a 40% reduction because of one existing EMI.

This is why clearing existing debts before applying for a new loan can dramatically increase what you’re eligible for. If you have a small loan that’s nearly paid off, consider closing it before applying for the bigger one.

Banks vs. Loan Apps — What’s Better for Your Income Level?

If your salary is below ₹25,000, traditional banks may not be your best option. They have higher minimum income requirements and slower processing. Loan apps like Navi, MoneyView, and KreditBee are designed for this segment — they approve loans faster (sometimes within hours) and accept lower income levels, though at higher interest rates.

If your salary is ₹30,000 or above, you have more options. Banks offer lower rates (10–15%) and higher amounts, but the process takes longer and requires more documentation. The best approach is to check if your salary bank has a pre-approved offer — these usually come with the best terms and minimal paperwork.

Not sure which loan app is safe and legitimate? Compare all loan apps on MoneyScore — we rate them on safety, transparency, and user experience so you don’t end up with a predatory lender.

Practical Tips to Increase Your Loan Eligibility

  • Pay off small existing loans first. Even clearing a ₹3,000 EMI frees up ₹3,000 of capacity — that’s almost ₹90,000 in additional eligible amount over a 3-year tenure.
  • Add a co-applicant. A spouse or family member’s income gets added to yours, boosting the total income the lender considers.
  • Keep credit card utilisation low. High credit card bills show up as potential EMI obligations. Try to keep outstanding balances below 30% of your limit.
  • Apply with your salary bank. Banks offer better terms to existing salary account holders because they can see your transaction history and cash flow.
  • Maintain job stability. Most lenders prefer at least 1 year in your current job and 2–3 years total work experience.

Find Safe Loan Apps That Match Your Eligibility

MoneyScore rates 100+ loan apps on safety, transparency, and user experience. Compare interest rates, check RBI verification, and find the right app for your income.

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Frequently Asked Questions

Common questions about loan eligibility

On a ₹20,000 monthly salary with no existing EMIs, your maximum EMI capacity is around ₹8,000 (40% of income). At 14% interest for 3 years, that translates to a personal loan of approximately ₹2.3 lakh. If you already have EMIs, the eligible amount will be lower. A CIBIL score above 750 improves your chances of approval and can get you a better rate.
With a ₹15,000 monthly income, most banks would consider you eligible for EMIs up to ₹6,000. For a 3-year personal loan at 14% interest, that means a loan of approximately ₹1.7 lakh. Some loan apps like KreditBee and MoneyView may lend smaller amounts (₹25,000–₹1 lakh) even at this income level, though at higher interest rates.
A ₹30,000 monthly salary gives you an EMI capacity of around ₹12,000. At standard personal loan rates (12–15%), you could be eligible for approximately ₹3.4–4 lakh over a 3-year tenure. Banks like SBI and HDFC often have pre-approved offers for this income range if you maintain a salary account with them.
With ₹50,000 monthly income and no existing debts, your EMI capacity is ₹20,000. This could qualify you for a personal loan of ₹5.7–6.5 lakh at 12–14% for 3 years. At this income level, you're also eligible for home loans and car loans with longer tenures, where the eligible amounts can be significantly higher.
Banks look at five main things: (1) Monthly income — determines your repayment capacity, (2) Existing EMIs — reduces how much new EMI you can handle, (3) CIBIL score — 750+ gets best rates, below 650 usually means rejection, (4) Employment stability — at least 1 year in current job preferred, (5) Age — determines maximum tenure. Your debt-to-income ratio (total EMIs divided by income) should stay below 50%.
It's difficult but not impossible. Most banks reject applications below 650. Some NBFCs and loan apps approve loans for scores between 600–700 but charge significantly higher interest rates (20–30%). If your loan isn't urgent, spending 6–12 months improving your score will save you a lot of money in the long run. Check your score with our free CIBIL checker.
There are several practical steps: (1) Clear or reduce existing EMIs before applying, (2) Build your CIBIL score to 750+ by paying all bills on time, (3) Apply with a co-applicant or guarantor to add their income to the calculation, (4) Choose a longer tenure to reduce per-month EMI, (5) Maintain a salary account with the bank you're applying to — they often offer better terms to existing customers.
Yes, it varies significantly. Major banks like SBI and HDFC typically require ₹25,000+ monthly income for personal loans. NBFCs like Bajaj Finserv may accept ₹22,000+. Loan apps like Navi and MoneyView can approve loans for salaries as low as ₹15,000, but for smaller amounts and at higher rates. Self-employed individuals usually need to show higher income (₹30,000+ monthly) to qualify.