How Much Personal Loan Can You Get on 30,000 Salary?

With the ease of borrowing offered by instant personal loans, people from a variety of financial backgrounds can now fund their short term and long term goals with ease. Having said that, the loan amounts offered can vary on the applicant’s monthly income.

Taking personal loan

If you are an individual with a monthly salary of about Rs 30,000, here is what you need to know about what determines your personal loan and how much personal loan you can receive.

What Affects Your Personal Loan Amount?

Before delving into how much personal loan can be sanctioned for a salary of 30,000, let us take a closer look at what determines your loan amounts in the first place. Here are the primary factors that determine your personal loan:

  1. Credit Scores – For lenders, credit scores play an important part in proving the creditworthiness of a borrower. Therefore, applicants with a healthy credit score of 750 or above are more likely to receive their desired loan amount.
  2. Eligibility Criteria – Personal loan eligibility criteria are put in place by lenders to ensure that the applicant meets certain basic requirements expected from a borrower. Therefore, your ability to meet these criteria can have a direct impact on your final loan amount.
  3. Financial Liabilities – If a person is already making payments towards previous debt or other financial commitments, it can have an impact on his ability to make payments for a new loan. Hence, lenders take existing debt into account when deciding a borrower’s loan amount.
  4. Salary – Lastly, the salary or monthly income of a person is also taken into account when lenders try to determine the ideal loan amount for a borrower. The income amount of a person can often shed light on their repayment capacity. The higher the income, the more likely for the lenders to approve a higher loan amount.

Personal Loan Based on 30,000 Salary

All of these criteria, which includes your salary, play a part in deciding the overall personal loan that might be approved for you. It is important to note that there is no standard parameter for what qualifies as an ideal salary for instant personal loan approval. However, a monthly salary of Rs 30,000 is considered sufficient for most lenders.

It is estimated that personal loan amounts can be up to 10 times a person’s average income. Therefore, an applicant with the salary of Rs 30,000 might be eligible for an instant personal loan of up to Rs 3 lakhs although this figure depends on the lender and their policies. Make sure you have details such as the personal loan interest rates, your choice of tenure and your ideal EMI figured out before starting out your application process.


While your salary has a part to play in the amount of instant personal loan you receive, focusing on the aforementioned factors can help maximize your chances of receiving a substantial loan amount. You can also make the process even easier by calculating the ideal loan EMI amount for you beforehand. This can be achieved with the help of an online, digital tool known as a personal loan EMI calculator that can calculate your ideal EMI in just a few simple steps.


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