Many salaried individuals believe that personal loans are only meant for people with high income. In reality, even if your monthly salary is between ₹15,000 and ₹30,000, you can still be eligible for a personal loan—provided you meet certain basic conditions.
In this blog, let us understand personal loan eligibility in this salary range with real examples of common people, such as teachers, office staff, and private employees.
Can You Get a Personal Loan with ₹15,000–₹30,000 Salary?
Yes, most banks and NBFCs in India offer personal loans to salaried individuals earning ₹15,000 or more per month. However, the loan amount, interest rate, and approval chances depend on multiple factors, not just salary.
Basic Eligibility Criteria
If your salary is between ₹15,000 and ₹30,000, you generally need:
Age between 21 and 58 years
Regular monthly income
At least 6–12 months of job stability
Minimum CIBIL score of 650
Salary account with a bank (preferred)
No major loan defaults
How Much Personal Loan Can You Get?
The loan amount usually depends on your monthly income and existing EMIs.
Monthly Salary Possible Loan Amount
₹15,000 ₹50,000 – ₹1.2 lakh
₹20,000 ₹1 – ₹2 lakh
₹25,000 ₹1.5 – ₹3 lakh
₹30,000 ₹2 – ₹4 lakh
(Figures may vary from bank to bank)
Real-Life Examples of Common People
Example 1: Ramesh, a Private School Teacher (Salary ₹18,000)
Ramesh works as a teacher in a private school and earns ₹18,000 per month. He needed money for his sister’s wedding.
Job experience: 3 years
Salary account: Yes
CIBIL score: 720
Loan Approved: ₹1.25 lakh
Tenure: 36 months
EMI: Around ₹4,200
Because Ramesh had a stable job and good credit score, his loan was approved without any guarantor.
Example 2: Sunita, Office Assistant (Salary ₹22,000)
Sunita works in a small private firm as an office assistant. She earns ₹22,000 per month and wanted a personal loan for medical expenses.
Existing EMI: None
Salary credited regularly
CIBIL score: 690
Loan Approved: ₹1.8 lakh
Interest Rate: Moderate
EMI: Around ₹5,600
Even with a modest salary, her clean repayment history helped her get the loan easily.
Example 3: Ajay, Sales Executive (Salary ₹30,000)
Ajay is a sales executive in a retail company earning ₹30,000 per month. He applied for a personal loan to renovate his house.
Job stability: 2 years
Credit card usage: Regular & timely payments
CIBIL score: 760
Loan Approved: ₹3.5 lakh
Tenure: 48 months
Higher salary and excellent credit score helped him get a higher loan amount at a better interest rate.
Documents Required
Usually, you will need:
Aadhaar Card & PAN Card
Last 3–6 months salary slips
Bank statement (last 6 months)
Employment ID or offer letter
Tips to Improve Loan Approval Chances
Maintain a good CIBIL score
Avoid missing EMI or credit card payments
Keep existing loans minimal
Apply with your salary account bank
Choose a longer tenure to reduce EMI
Final Thoughts
If your monthly salary is between ₹15,000 and ₹30,000, getting a personal loan is absolutely possible. As seen in the examples above, regular income, job stability, and good credit history matter more than a high salary.
Personal loans can help manage emergencies, weddings, education, or medical needs—when used responsibly.
FAQs
Q1. Can I get a personal loan with ₹15,000 salary?
Yes, many lenders offer loans starting from ₹15,000 salary, but the amount may be limited.
Q2. Is CIBIL score mandatory?
Yes, most banks check CIBIL score. A score above 650 improves approval chances.
Q3. Can freshers apply for a personal loan?
Some NBFCs allow freshers, but banks usually prefer at least 6 months of job experience.
