Features and Benefits of Personal Loan


Flexible Loan Amount

Depending on eligibility factors, you can borrow up to Rs. 5 lakhs


Quick Eligibility Check

Using the Money View website or app, you can find out if you are eligible within just two minutes


Minimal Documentation

We only ask for your identification, your address, and your income proof


Affordable Interest Rates

We understand how important interest rates are as they determine the EMI amount to be paid. At Money View, the interest rate starts at just 1.33% per month


100% Online

From application to disbursement, the entire process is online and paperless


Flexible Repayment Tenure

There is a flexibility of up to five-year repayment terms available to applicants


Loans on Low Credit Score

Money View's unique credit model allows you to still get a loan even with a CIBIL score of 600 or an Experian score of 650


Instant Disbursal

Within 24 hours of approval, your loan amount will be credited to your account

How Much Personal Loan Can I Get On Rs.40,000 Salary

Personal loans are multipurpose loans that allow individuals to borrow money at a low interest rate. They are offered by banks, financial institutions and online lending platforms. The eligibility criteria to avail these loans vary depending on the lending institution.

While some banks require applicants to have an income of 15,000 per month before making a loan available, others require a minimum of 45,000 per month. The interest rates charged for personal loans vary based on how long the applicant will be repaying the loan for.

The amount of money one can borrow with a personal loan depends on the individual's credit history, authenticity of his or her personal documents, and job stability. While there are several institutions lending loans, personal loans via online lending platforms can help customers get loans at lower interest rates with minimal documentation in paperless format.

A person earning a monthly salary of 40000 is eligible for loans from any lending institution in India since they qualify the minimum requirements. Moreover, people earning less than 40000 per year can also access instant personal loans via online lending apps and credit websites.

There are two ways to calculate the loan amount you will be receiving.

The multiplier method is used by many lenders for calculating the eligibility for personal loans. Under this method, a predetermined multiple of the applicant's net monthly income is applied to determine the personal loan amount. This multiple can range from 10 to 24 times of the applicant's monthly income, depending on the lender and monthly income.

The higher the salary and better the status of the company, the greater the chance of receiving a higher loan amount with lower interest rates. Moreover, this loan amount is eligible if you don’t have any pre-existing monthly obligations. 

The EMI/NMI ratio is the proportion of your net monthly income (NMI) spent on servicing your existing EMIs as well as the EMI of the new loan. Typically, lenders prefer applicants with an EMI/NMI ratio of less than 50%. Your EMI/NMI ratio is determined by your net monthly income, tenure, and interest rate.

While you cannot change your monthly income or EMI obligations, you can extend the term of your loan and obtain a personal loan at a lower rate of interest to qualify for a larger personal loan amount. 

So, if you're wondering, ‘How much personal loan can I get on a 40,000 salary’, the answer is that it varies depending on the aforementioned factors. You can receive any amount between Rs. 5,000 and Rs. 500,000.

When thinking about taking out a loan, the key question we have to ask ourselves is “Will I qualify for the loan?’ Here is how you can check if you are eligible for the loan or not.

There are several factors that determine whether a borrower is eligible for a personal loan, including the borrower's credit score, income, and age. To qualify for an instant personal loan, you must meet the following criteria -

  • Applicants must be salaried or self-employed (owning their own business).

  • Ideally, you should have an income of at least Rs 13,500/- in hand each month.

  • Salary must be credited directly to your bank account

  • You should have a good credit score. 

  • It is required that applicants be between the ages of 21 and 57

If you qualify all the above requirements, then you can easily avail a personal loan from several lending institutions in India.

Identity Proof Address Proof Income 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
Any 1 of the following -
  • Aadhaar Card
  • Valid Indian Passport
  • Valid Voter ID
  • Valid Driver’s License
  • Utility Bills (Electricity, Water, Gas) dated within the last 60 days

Salaried Applicants - Last 3 months’ bank statements of your salary account in PDF format showing salary credits


Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed

How to Apply for An Instant Personal Loan


Check Eligibility

Provide a few basic details to check your eligibility in just 2 mins!


Select Loan Tenure

Choose your loan amount & repayment tenure


Upload Documents

Complete your KYC and Verify income


Amount Disbursed

Direct Bank A/c transfer in a few minutes!



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