Personal loan eligibility rests on three things: your credit score, your net monthly income after existing EMIs, and your job. RBI does not set a minimum CIBIL score for a personal loan; each lender sets its own, and a score of 750 or more usually gets the quickest approval and the better rates.
As an example, SBI’s personal loan asks for a net monthly salary of at least ₹20,000 (government and defence staff) or ₹25,000 (corporate employees), and caps all EMIs at 65% of net income. Beyond that, lenders keep internal employer lists, so two people with the same salary can be quoted different rates from the same published rate card.
| Typical FOIR ceiling | 50 – 60 % of net income |
|---|---|
| What it means | All EMIs plus card minimum dues counted, including the new loan. |
as of 2026-08-15 · Lender eligibility criteria · reported
What to know
Existing obligations are the lever you can actually move quickly. Card minimum dues count toward the FOIR, so paying down a revolving balance before applying can increase your eligibility more than a raise would — and it is also one of the larger factors affecting your credit score. So can closing a small, nearly-finished EMI — the remaining balance is trivial but the obligation counts in full.
Minimum income thresholds vary by city as well as by lender, because the cost-of-living assumption differs between metro and non-metro. If you are marginal on income, a lender with a strong presence in your city will usually assess you more generously than a national criterion suggests.
If your loan carries a floating rate, closing it early is cheaper than it used to be: RBI’s Pre-payment Charges on Loans Directions, 2025 bar prepayment charges on floating-rate loans to individuals sanctioned or renewed from 1 January 2026. Most personal loans are fixed-rate, so check your loan terms.
SBI personal loan eligibility, as a worked example
| Criterion | SBI Personal Loan (salary account holders) |
|---|---|
| Age | 21 to 60 years |
| Minimum service | 6 months (government/defence), 12 months (corporate) |
| Minimum net monthly salary | ₹20,000 (government/defence), ₹25,000 (corporate) |
| Loan amount | ₹1 lakh to ₹50 lakh, capped at 30 times net monthly income |
| EMI to net income ratio | Up to 65% |
| Credit score | “Decent” score as per the bank’s internal policy; processing fee halved for a CIBIL score of 800 or more |
| Tenure | 6 to 84 months |
Source: SBI Personal Loan page, checked 17 Sep 2026. Other lenders set different limits.
Frequently asked questions
What is the minimum CIBIL score for a personal loan?
There is no regulatory minimum. The government told the Lok Sabha in August 2025 that RBI has not prescribed a minimum credit score for loans, and lenders set their own cut-offs. In practice, a score of 750 or above gives the best chance of approval; see the credit score needed for a personal loan.
What is the minimum salary for a personal loan?
It depends on the lender and city. SBI asks for ₹20,000 a month for government and defence staff and ₹25,000 for corporate employees. Axis Bank says the minimum is usually ₹25,000 in cities such as Delhi and Mumbai and can be ₹15,000 elsewhere. Meeting the minimum only gets you considered; the amount is then set by your existing EMIs.
How much personal loan can I get on a ₹50,000 salary?
At a 50% FOIR with no existing EMIs, roughly ₹25,000 of monthly EMI capacity — which supports roughly ₹10.7 lakh to ₹11.8 lakh over five years at interest rates of 10% to 14%. Existing obligations reduce that rupee for rupee. Run it with your actual EMIs in the EMI calculator.
Does my employer affect my personal loan rate?
Yes, more than most applicants expect. Lenders maintain internal employer category lists based on observed default rates, and listed large employers attract lower rates and higher limits. It is not published, but it is real.
What salary do I need for a ₹10 lakh personal loan?
A ₹10 lakh loan over five years at 12% has an EMI of about ₹22,244. With no other EMIs, that needs a net monthly income of about ₹34,200 at a 65% limit, or about ₹44,500 at a 50% limit. A ₹5 lakh loan on the same terms needs about ₹11,122 a month in EMI.
What is the minimum salary for a Bank of India personal loan?
Bank of India’s Star Personal Loan page lists salaried, self-employed and professional applicants as eligible, with rates starting from 11.85%. It does not show a single minimum salary in its summary, so confirm the income floor with your branch before you apply.
How can I check my personal loan eligibility?
Add up your existing EMIs and card minimum dues, subtract them from 50% to 65% of your net monthly income, and see what EMI is left. Then run that EMI through the loan eligibility calculator and check your credit report before applying.
Sources
- SBI Personal Loan: eligibility and charges — State Bank of India (checked 17 Sep 2026)
- Personal loan eligibility calculator — Axis Bank (checked 17 Sep 2026)
- Star Personal Loan — Bank of India (checked 17 Sep 2026)
- CIBIL score not mandatory for first-time loans, 25 August 2025 — Business Standard (checked 17 Sep 2026)
- Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025 — Reserve Bank of India (checked 17 Sep 2026)
Related reading
Agriculture Loans & Kisan Credit Card
The Kisan Credit Card is the central instrument of Indian farm credit, and its economics turn entirely on the interest subvention and the prompt-repayment incentive.
15 Sep 2026 · 2 min
Best Car Loans
The rate is only half the decision on a car loan; the other half is how much of the on-road price the lender will fund
6 Sep 2026 · 2 min
Best Education Loans
Public sector banks are materially cheaper than NBFCs on education loans, and for study in India they should be the first call — but they are slower and stricter on collateral, which is why families under an admission deadline end up at an NBFC paying several points more.
15 Sep 2026 · 2 min