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. 10 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 up to 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.

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 are 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 up to Rs. 10 lakh or even higher depending on your eligibility.

Eligibility Criteria - Personal Loan For Rs. 30,000 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 - 

What Documents Should I Provide?

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

Note: The documentation requirements will vary based on your profile. We may require proof of address, bank statement, and other supporting documents.

What Are The Interest Rates for A Loan On Rs. 30,000 Salary?

Interest rates vary from lender to lender. The charges for the moneyview personal loan are as follows.

Types of Loan Fees

Rates & Charges Applicable

Interest Rate

Starting from 1.33% per month (16% Annually*)

Processing Fee/Felicitation Charges

Starting from 2% of the approved loan

Part/Full Payment of the Loan (Loan Foreclosure)

  • No part payments are allowed

  • For foreclosure of your loan, you should have paid a minimum of 3 EMIs.

Penal charges on Overdue EMI

24% per annum plus applicable taxes, if any

NACH Bounce

Rs.500/- for every bounce

Factors Affecting Personal Loan Amount

The amount of loan you can get on a Rs. 30,000 loan depends on several factors, such as, 

Credit Score

Credit score plays a critical role in determining your loan amount.  Lenders use this score to see if you're good at managing money. 


The higher your salary, the more amount you might qualify for. Your salary assures the lender of your repayment capacity. 

Debt-to-Income Ratio (DTI)

Lenders look at how much you owe compared to how much you earn. If you owe less, you might get a bigger loan.

Employment Stability

Lenders assess employment history and stability. A steady job and a longer employment history may positively impact the loan amount.

Loan Term

Longer loan terms might allow for larger loan amounts, but it's important to consider the overall cost and interest paid over time.

Borrowing History

Lenders review an applicant's financial history, including past loans and repayment behavior, to assess risk and determine the loan amount.


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 up to Rs. 10 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 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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