Avail Personal Loan up to 1 Cr
Starting from 9.99% p.a.
About Salaried Personal Loan
A salaried personal loan is an unsecured, fixed-tenure loan repaid through equated monthly instalments. There is no collateral and no end-use restriction, so the same loan can fund a wedding, a medical bill, home renovation or a foreign trip.
Because nothing is pledged, lenders underwrite you almost entirely on salary evidence. Three numbers decide the outcome: your net take-home pay, your Fixed Obligations to Income Ratio (the share of that pay already committed to EMIs and credit card dues), and your credit bureau score. Employer category matters too — applicants from PSUs, listed companies and large MNCs are typically offered finer rates than those from unlisted proprietor-run firms.
LoanLogic reads your profile once and shows which of our 40+ partner Banks and NBFCs are likely to accept it, so you avoid the repeated hard enquiries that follow applying to several lenders one after another.
Personal Loan Eligibility Criteria for Salaried Applicants
What partner Banks and NBFCs check on a salary-based, unsecured application.
| Parameter | Typical Requirement | Details & Notes |
|---|---|---|
| Employment type | Salaried, full-time | Confirmed employee of a PSU, listed company, MNC, LLP or private limited firm. Contract and cash-salary profiles are assessed case by case. |
| Applicant age | 21 to 60 years | Age at loan maturity, not at application — a 58-year-old is usually capped at a shorter tenure. |
| Net monthly salary | From ₹15,000 | Several lenders set ₹25,000–₹30,000 as the floor in metro locations and for larger ticket sizes. |
| Salary credit mode | Bank credit, not cash | Six months of statements showing salary landing on a consistent date from the same employer. |
| Work experience | 2 years total, 6+ months current | Frequent job changes within a probation period weaken the file even when income is high. |
| FOIR (obligations) | Existing EMIs under 50–60% of net pay | Credit card minimum dues and any loan you have guaranteed are counted in this ratio. |
| Credit benchmark | CIBIL / CRIF 700+ preferred | Below 700 an application can still proceed, usually at a higher rate or a reduced amount. |
| Key documents | PAN, Aadhaar, salary evidence | 3 months salary slips, 6 months bank statement, employee ID or appointment letter. |
| Platform fee | 100% free (₹0) | LoanLogic never charges an upfront fee. Lender processing fees are disclosed before you accept an offer. |
| Lending authority | 40+ partner Banks & NBFCs | Underwriting, final approval, interest rate and disbursal are decided by the lender, not by LoanLogic. |
How Lenders Size a Salaried Personal Loan (the FOIR Method)
Underwriters start from net take-home pay, subtract EMIs you already run, and cap what is left at a Fixed Obligations to Income Ratio of roughly 55%. Whatever instalment survives that cap is converted into a loan amount at the offered rate and tenure.
| Net monthly salary | Existing EMIs | EMI headroom at 55% FOIR | Indicative loan at 12% p.a. / 5 years |
|---|---|---|---|
| ₹30,000 | ₹4,000 | ₹12,500 | ≈ ₹5.6 Lakh |
| ₹60,000 | ₹10,000 | ₹23,000 | ≈ ₹10.3 Lakh |
| ₹1,00,000 | ₹15,000 | ₹40,000 | ≈ ₹18.0 Lakh |
| ₹1,50,000 | ₹35,000 | ₹47,500 | ≈ ₹21.3 Lakh |
- Closing one small, nearly-repaid loan before applying frees EMI headroom immediately and often raises the sanctioned amount by more than the balance you cleared.
- Credit card dues count towards FOIR at the minimum-payment level even when you clear the statement in full every month.
- Employer category shifts the FOIR cap itself: applicants from listed companies and PSUs are frequently allowed 60%, unlisted firms closer to 50%.
Illustrative only. Each lender applies its own FOIR cap, rate grid and tenure ceiling, and the final sanction is theirs alone.
Why Borrowers Choose a Personal Loan
An unsecured, fixed-EMI loan with no collateral and no restriction on end use.
What Decides Your Personal Loan Rate
Partner lenders price salaried applications on income stability, obligations and bureau record. The final rate is set by the lending institution.
Income & Salary Stability
Lenders evaluate your net monthly salary (minimum ₹15,000) and stability of employment with a recognized employer.
Fixed Obligations to Income Ratio (FOIR)
Your existing EMIs and credit card dues should ideally consume less than 50%–60% of your net monthly income.
Credit History & CIBIL Score
A clean repayment track record with a credit score of 700 or above helps qualify for competitive interest rates.
Employment Profile
Working with reputed MNCs, Public Sector Undertakings, or private Ltd companies enhances loan eligibility.
Document Verification
Clear submission of PAN, Aadhaar, salary slips, and 6 months bank statement showing salary credits.
Personal Loan EMI Calculator
Estimate the monthly instalment and total interest on a fixed-tenure personal loan.
Indicative Calculation Notice: Figures displayed above are estimated calculations for planning purposes only. Final loan amount, interest rate, EMI, processing fees, and disbursal terms are determined solely by partner Banks and NBFCs based on credit evaluation.
Related Loan & Financing Options
Compare other borrowing solutions and debt management tools available on LoanLogic.
Debt Consolidation Loan
Club multiple personal loans and credit card balances into a single EMI to reduce your monthly outflow by up to 50%.
Overdraft Loan
Access a sanctioned revolving credit limit up to ₹50L and pay interest strictly on the funds you withdraw.
Loan Consolidation Calculator
Estimate your potential monthly EMI and total interest savings by combining scattered liabilities.
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