Having a salaried position is a coveted situation. However, despite this, sometimes there may be a need for some extra money. Thankfully, personal loans can be easily availed.

If you are earning Rs. 30,000 per month and wondering how much personal loan you can get for that amount, then this article will help you.

How Much Personal Loan Can I Get on Salary of Rs. 30,000

You can get a personal loan of up to Rs. 5 lakh or even higher depending on multiple factors such as your credit score, debt-to-income ratio, age, and so on. 

However, there are two ways of calculating a rough estimate of the loan amount you can get with a Rs. 30,000 salary. These are the ‘multiplier’ method and the ‘fixed obligation to income ratio’ method.

Multiplier Method

Also known as the net monthly income method, the multiplier method of calculation will be applicable if the borrower has no existing debts. The borrower’s income will determine the maximum loan amount he/she can get. The loan amount will be a multiple of the net monthly income (NMI). 

The value of this multiplier varies upto 30 where 30 would be equal to a perfect eligibility.

Based on this calculation, if your monthly income is Rs. 30,000 and the applicable NMI is 21, you will be eligible to get a loan of around Rs. 6.3 lakh.

Also Read: How Much Personal Loan Can I Get on 50000 Salary

Fixed Obligation to Income Ratio (FOIR) 

In this method, the maximum loan amount available will be calculated based on your monthly income after all debts are considered. If you are already repaying a lot of debts with your existing income i.e., your FOIR or debt-to-income ratio is high , then your application may not be approved.

Under this method of calculation, 40% of your monthly income (after expenses is deducted) multiplied by the loan tenure will give you a rough estimate of the loan amount you are eligible for.

So if your question is ‘how much personal loan can I get on 30,000 salary’, your answer is that it can range upto Rs. 5 lakh or even higher depending on your eligibility.

Also Read: How Much Personal Loan Can I Get on 40000 Salary

Lenders will decide the loan amount they wish to provide based on your eligibility. Certain lenders such as moneyview offer easy eligibility criteria that can be fulfilled by most applicants. 

Generally, applicants must earn a minimum monthly income, have a good credit score, and have a low debt-to-income ratio. 

Check out moneyview’s eligibility criteria given below - 

  • Applicants must have a minimum monthly income of Rs. 13,500

  • Income must be credited to a bank account and must not be in cash

  • Applicants must have a minimum CIBIL score of 600 or Experian score of 650

  • Applicants must be between the ages of 21 and 57

Most lenders require an exhaustive number of documents but moneyview asks for a maximum of three. These are -

  • Identity Proof: 

    • PAN Card - This is the primary ID proof required. However, if it is rejected due to image quality issues or other reasons, any 1 of the officially valid documents given below will suffice.

    • Aadhaar Card

    • Valid Indian Passport

    • Valid Voter ID

    • Valid Driver’s License

  • Address Proof: You can submit one of the following documents for proof of address-

    • Aadhaar Card

    • Valid Indian Passport

    • Valid Voter ID

    • Valid Driver’s License

    • Utility Bills (Electricity, Water, Gas) dated within the last 60 days

  • Income Proof: 

    • Last 3 months’ bank statements in PDF format 

The table below gives you an insight into the fees and charges associated with moneyview loans -

Fees & Charges

Amount Chargeable

Interest Rate

Starting from 1.33% per month

Loan Processing Charges

Between 2% to 8% of the approved loan amount

Interest on Overdue EMIs

2% per month on the overdue EMI/Principal loan amount

Cheque Bounce

Rs.500/- each time


‘How much personal loan can I get on 30,000 salary’ is a commonly asked question. It will be difficult to give an exact number as this will depend on multiple factors. However, there are a few ways to calculate an approximate number.

You can easily get a personal loan of upto Rs. 5 lakh from moneyview. The application process is hassle-free and the documentation requirements are also minimal.

Visit the website or download the app to apply today.

Frequently Asked Questions (FAQs)

At moneyview, we use a unique credit rating model. This is why even if your credit score is low, you can still get a personal loan from us. Applicants should have a minimum CIBIL score of 600 or Experian score of 650.

You can get an instant personal loan from Money View without your salary slip and ITR but we will need your bank statement that contains details of your salary credits.

You can get a loan from moneyview only if you get your salary directly credited to your bank account.

No, applicants do not have to provide security, collateral, or guarantors as moneyview personal loans are unsecured loans.

No, you can only cancel the loan application before submitting the Loan Agreement form. 

If you regularly repay your EMIs, your credit score will increase with time. However, if you default or delay your payments then your credit score could fall down.


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