How much personal loan can I get on 35000 salary


Fincrif India

Jun 24

06:09 AM

Your monthly income is a significant factor in deciding the urgent personal loan amount you are eligible for. If you make Rs. 35,000 a month, a number of things come into play, such as your credit score, past financial obligations, and the lending institution's restrictions. In order to determine if you qualify for a loan, lenders typically look at your income, current debts, credit score, and employment stability.

How Much Personal Loan Can I Get On 35000 Salary?

The majority of lenders generally adhere to the principle that your monthly loan installment should not be greater than 40–50% of your monthly income. Let's use the conservative estimate of a debt-to-income ratio of 40%. In that instance, the maximum monthly loan payment you can make is Rs 14,000 (40% of Rs 35,000).

You can take the loan term and interest rate that the lender is offering into account when estimating an urgent loan amount. Assume a loan term of three years (36 months) at a 12% annual interest rate. The approximate loan amount can be determined using an online loan EMI calculator.

On the basis of these calculations, the loan's estimated size would be Upto Rs 4,19,000. 

Eligibility Criteria for personal loan with 35000 salary 

Regarding a person's ability to obtain a personal loan, their monthly income is important. For personal loans, various lenders have various requirements. Meet the following eligibility requirements to apply for a personal loan with an income of 35,000:

  • Identification as an Indian citizen
  • Income proofs consisting of six months' worth of bank statements and pay stubs
  • An applicant must be between the ages of 21 and 58 to be eligible.
  • You must be an employee or a businessperson who works for themselves.
  • Either the private or public sector should be where you work.
  • The lender's requirements for credit history should be met by yours. Depending on the standards imposed by the various lenders, credit scores may change.

For a loan to be approved with an income of at least 35,000, the following obligatory documents must also be submitted:

  • Aadhar card, driver's licence, PAN card, and passport are examples of standard KYC documentation.
  • For salaried persons, income documentation includes most current pay stubs.

Factors That Affect Your Loan Amount 

Here are the factors that affect your loan amount : 

Monthly salary

Your lender will assess your ability to repay the loan before granting it by looking at your monthly income. They can determine if you can repay the loan within the specified time frame if they do this. Your ability to pay back debt is directly related to your income and is a significant portion of your financial profile. 

Nevertheless, each lender has a different set of requirements for the minimum income level. The lender will calculate your address and your company while evaluating your income. Lenders will be more confident in your ability to pay your EMIs on time if you have an additional source of income, such as renting out property or collecting rent.

History of Credit 

Personal loans are unsecured loans, which means that no assets or security are used to secure them. So that they can determine your creditworthiness, lenders rely on credit ratings. Also impacted by these scores is eligibility for personal loans. Your credit report will display the trends in your prior EMI payments. In order to avoid defaulting on your EMI payments, you must concentrate on doing so. Your personal loan application will be approved more quickly as a result.

Read more about Short-term Personal Loan

Experience at work

Borrowers who have been in the workforce for a longer period of time will have a more secure financial future than those who have only recently started. However, depending on the lender, your profession, and other important considerations, different experience levels are required.

For example, those earning a salary typically need between three and five years of job experience. Business owners must have a minimum of five years of business-related experience, and self-employed individuals must have three years of work history.


Keep in mind that another crucial aspect that impacts your eligibility for a personal loan is the repayment schedule. Your chances of getting a personal loan approved at a reduced interest rate are higher if you choose a shorter loan term. Additionally, you must choose the loan amount in accordance with your ability to pay.


You can assess your eligibility for a personal loan for salaried of Rs. 35,000 by taking your credit score, your debt-to-income ratio, and the loan-to-income ratio that the lender has set into account. Although it's difficult to give a precise loan amount in this blog article, it's a good idea to speak with several lenders and explain your unique financial position to receive a more accurate estimate. A final selection should only be made after careful consideration of all available loan options and consideration of the policies and eligibility requirements of each lending institution.

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