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Guide

Personal Loan Eligibility

Three things decide a personal loan: your credit score, your net monthly income after existing EMIs, and — more than most applicants realise — which category your employer falls into.

Typical FOIR ceiling
50 – 60% of net income

All EMIs plus card minimum dues counted, including the new loan.

as of 2026-08-15· Lender eligibility criteriareported

Lenders maintain internal employer lists, and the same person at two different companies can be quoted materially different rates.

By Nishit Kumar, Founder & Editor
Updated 17 August 2026

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. 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.

Your numbers

₹1 L
₹10,000₹1,00,000₹50 L
₹0₹0₹10 L
3050%75

Most lenders cap total EMIs at 40–55% of net income.

18.5%36
120 years30
Eligible loan amount
₹57,61,542
EMI you can service
₹50,000
Income committed to EMIs
50.00%
Free income after EMIs
₹50,000

What this means.This is a ceiling, not an offer. Lenders also weigh your credit score, employer category and job stability.

Questions

What is the minimum salary for a personal loan?

Commonly ₹15,000–₹25,000 a month at NBFCs and ₹25,000–₹40,000 at larger banks, varying by city. Meeting the minimum only gets you considered; the amount you can borrow is then set by the FOIR against your existing obligations.

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 something in the region of ₹9–11 lakh over five years at current rates. Existing obligations reduce that rupee for rupee. Use the eligibility calculator on this page with your actual EMIs.

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.

Related reading

Sources

Every figure on this page is traced to the document it came from. Where a claim rests on a regulator or an institution’s own rate card, that is the link below — not a summary of it.

  1. [3]Home, personal, vehicle and education loan rate cards — August 2026— Lender published rate cardsas of 15 August 2026
Worth knowing.Rates, fees and terms change frequently and vary by applicant. Everything here is general information, not personalised advice. Confirm the current terms directly with the institution before you apply. How we research and rate.