How Much Personal Loan Can You Get on My Salary?

Personal Loans are easy to avail of and do not require any collateral or guarantor. These loans are low on documentation as well. But a question that bothers many of the applicants very often is how much personal loan can I get on my salary?


  • Loan you can get depends on credit score. A good credit score will get you better loan offers
  • Your income should be sufficient for the amount of loan
  • Other EMIs paid is also taken into account for loan to salary calculation
  • Instant Personal Loans can get you better interest rates and faster disbursements

There is no fixed calculation for the calculation of the maximum loan on salary. It depends on different factors.

  1. Yout Credit Score
  2. Your Inhand Monthly Income
  3. Other Existing Loan EMIs
  1. Yout Credit Score

    Your credit score is a three-digit score assigned to you by the credit bureaus based on your past credit behavior. Lenders check your credit score before approving any loans as good credit scores indicate a higher probability of the loan being repaid promptly.

    Higher credit scores indicate better degrees of creditworthiness and hence lenders prefer to lend to those borrowers with credit scores above 750. Loans may be approved for borrowers below this credit score, but may not be at favorable terms and conditions (like a higher rate of interest or a lower amount than what is applied for).

  2. Your Inhand Monthly Income

    Every lender looks for a borrower who can repay the loan amount without any difficulties. The only way to ascertain this is to ensure that the borrower has an income that can easily support the EMI for the loan applied for. Hence the income of the applicant bears a huge impact on the loan approval and the amount of loan that is approved.

    For Example:

    If an individual with a monthly income of Rs 25000 applies for a loan of Rs 10,00,000 there may be lesser chances of loan approval. However, for the same income, a loan of Rs 5,00,000 or less may be approved easily. Of course, this is subject to the individual meeting conditions of credit scores and other criteria.

  3. Other Existing Loan

    You might have a high income, but if you are already paying too many EMIs or huge credit card bills out of that income, there will be little left to pay EMIs for loans availed in the future. The preferred range of combined EMIs to Income Ratio is between 40-60%.

  4. For Example:

    For an in-hand income of Rs 50,000, EMIs for all loans availed by you should not exceed the range of Rs 20,000 to Rs 30,000. Similarly, the total EMIs for all your loans for an individual with an in-hand income of Rs 25,000 should be in the range of Rs 10,000-Rs 15,000. With this pointer in mind, you can check various EMIs for the personal loan that you are intending to avail based on the interest rate and tenure of the loan.

    This is an essential condition for loan approval and in deciding the final amount of the loan because if you are already repaying too many loans you might not have the bandwidth to accommodate one more EMI, thereby increasing chances of delay or default in EMIs.

How Much Personal Loan Can I Get on My Salary from Money View?

MoneyView offers personal loans in the range of Rs 10,000 to Rs 5,00,000 subject to the basic eligibility criteria as mentioned below:

  • Be salaried or self-employed
  • R A monthly in-hand income of ₹13,500* or more
  • Income received in a bank
  • Minimum Cibil score of 650 or Experian score of 750
  • Should be aged between 21 years and 57 years

**Please go through the detailed income and credit score requirements

In addition, our own credit scoring model takes into account many other data points including data from your bank statements/income proof to finally arrive at your loan eligibility.

How can you Apply for MoneyView Instant Personal Loan?

MoneyView offers instant personal loans on its App or through its website. The entire process is quick and hassle-free with minimum requirements for documentation. These loans can also be applied by those with low credit scores as MoneyView follows its own credit scoring model.

The MoneyView Loan Application Process

We believe in making credit available at the earliest to our customers and hence follow a simple and easy 4 step process for loan application given as below.

  • # Step 1: Check Your Eligibility – Find out the maximum loan amount you’re eligible for online in 2 minutes
  • # Step 2: Select Your Plan – Choose a custom loan amount and repayment period that suits your financial needs
  • #Step 3. Upload Your Documents – Provide your personal details and upload the necessary documents, all on the app or website
  • #Step 4: Get the Loan Amount – Get the loan amount disbursed to your account in 2 hours of approval

Documents Required to Apply for a Personal Loan

A personal loan in comparison to other loans like home loans or vehicle loans has a lesser requirement for documentation. The documents generally required for a personal loan are:

  • Identity Proof
  • Address Proof
  • Income Proof

Even at MoneyView, we do not ask for extensive documentation for our personal loans other than the ones mentioned above.

The accepted proof for each category is as given below:

Category of Proof Acceptable Documents
Identity Proof
  • Aadhaar Card
  • PAN Card
  • Valid Driver's License
  • Valid Indian Passport
  • Voter ID Card
  • (Anyone of the above)

Address Proof
  • Aadhaar Card
  • Bank Statement/Passbook – Generated within the last 60 days
  • Ration Card
  • Utility Bill – (Telephone Bill/Electricity Bill/Gas Bill/Water Bill) – all bills should be dated within the last 60 days and have your name & address mentioned clearly
  • Valid Driver's License
  • Valid Indian Passport
  • Voter ID Card
  • (Anyone of the above)

Income Proof

For Salaried Employees

  • Last 3 months’ bank statements in PDF format showing salary credits OR
  • Your last 3 months' salary slips with important details, including your employer's name, being legible
  • For Self Employed

  • Last 3 months’ bank statements in PDF format OR
  • Your last 2 years' Income Tax Returns with important details, including tax paid details being legible.