Personal Loan for ₹1 Lakh Salary
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Explore top personal loan options tailored for a ₹100,000 salary. Enjoy low interest rates, quick approval, and flexible repayment terms.

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How Much Personal Loan Can I get for ₹1 Lakh Salary?

If you have a monthly salary of ₹100,000, you may think that you can any kinds of personal loan. While 1 lakh is a good salary to process a personal loan, there are other factors too that contribute to getting a personal loan Banks and financial institutions typically use the Fixed Obligations to Income Ratio (FOIR) and the Multiplier Method to calculate the loan amount you are eligible

Roughly speaking, for a monthly income of Rs. 100000, you can potentially secure a personal loan from Rs. 10 Lakhs to Rs. 35 Lakhs, depending on factors like credit history, FOIR, and other loan obligations.

What are the methods employed to calculate personal loan eligibility?

Typically, there are two methods, banks and NBFCs employ to calculate a candidate’s personal loan eligibility

Fixed Obligations to Income Ratio (FOIR): FOIR is the widely employed method to evaluate your repayment capacity. It compares your existing financial obligations, such as rent, EMI and other fixed charges to your monthly salary. Typically, banks allow a FOIR of up to 40-50%. For example, with a ₹100,000 salary, if your current obligations are ₹50000, the lender might consider up to ₹25000 (50% of your income) as the maximum EMI you can afford to pay and they then calculate the amount that can be given to you
Multiplier Method: The Multiplier Method is another method used by banks to calculate your loan eligibility. Banks usually apply a multiplier of 15 to 40 times of your monthly salary. For a ₹100,000 salary, using a multiplier of 25, you can get a personal loan upto Rs. 25 Lakhs. However, the final amount sanctioned depends on your credit score, FOIR, and the banks lending terms

Key Features and Services of Personal Loan for ₹1 Lakh Salary

High Loan Amount: Secure amounts ranging from 10 Lakhs to 35 Lakhs based on your eligibility.
Quick Disbursal: Get the loan amount credited to your account within 24-48 hours
Unsecured Loan: You do not need to provide any collateral to get these amounts
Attractive Interest Rates: Interest rates for these loans begin from 10.49%
Flexible Tenure: Repay the loan comfortably over a period of 12 to 72 months.
Minimal Documentation: Simple and hassle-free documentation process.

Bank Interest rates - Personal loan for Salary of ₹1 Lakh

Banks

Personal Loan Interest Rates 2025

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Institution	Interest Rates
HDFC Bank	10.85% – 24.00%
Axis Bank	11% – 24.00%
Bandhan Bank	11.90% Onwards
ICICI Bank	10.85% – 16.25%
DBS Bank	10.99% – 24.00%
Bank of Baroda	11.05% – 18.75%
SBI	11.45% – 14.85%
IndusInd Bank	10.49% – 24.00%
Yes Bank	11.25% – 21.00%
Standard Chartered	11.50% – 24.00%
IDFC First	10.99% – 23.99%
Kotak Mahindra Bank	10.99% – 24.00%
PNB	11.40% – 17.95%
Indian Bank	10.90% – 24.00%

NBFCs Interest rates - Personal loan for Salary of ₹1 Lakh

NBFCs

NBFC Name	Interest Rate
InCred Interest Rate 2025	16% – 42%
Finnable Interest Rate 2025	16% – 28%
L&T Finance Interest Rate 2025	11% – 24%
Aditya Birla Interest Rate 2025	10% – 32%
Shriram Finance Interest Rate 2025	11% – 42%
Bajaj Finserv Interest Rate 2025	10.75% – 31%
Piramal Interest Rate 2025	12.99% onwards
Tata Capital Interest Rate 2025	11.99% – 35%
Poonawalla Interest Rate 2025	11.49% – 19%
SMFG Interest Rate 2025	13% – 36%
Axis Finance Interest Rate 2025	13% onwards
Mahindra Finance Interest Rate 2025	12% – 36%
Paysense Interest Rate 2025	16.8% – 33%

Eligibility Criteria for a Personal Loan on ₹1,00,000 Salary

To qualify for a personal loan with a monthly salary of ₹100,000, you’ll have to need to meet certain eligibility criteria

Age: Between 21 and 60 years.
Employment Status: Salaried individual with a stable monthly income of Rs. 100000 atleast
Work Experience: At least 1 year of total work experience with a minimum of 6 months in the current job.
Credit Score: A good credit score, usually 750 and above to get the loan on favourable terms
Cash Salary will not be accepted under any circumstances

Documents Required for a Personal Loan on ₹1,00,000 Salary

Identity proof (Aadhar card, passport, or driving license)
Address proof (utility bills or rental agreement)
Income proof (salary slips or income tax returns)
Passport-sized photographs
Bank statements for the last 3-6 months, IT Returns, Employment proof, No Cash Salary
Certificate of Incorporation, Certificate of Registration

How to Apply for a Personal Loan for ₹1,00,000 Salary?

Applying for a personal loan with a ₹100,000 salary is a straightforward process:

Determine Eligibility: Use online calculator to check whether you are eligible for loan. You can do so easily at Fincover’s loan eligibility calculator
Compare Lenders: Evaluate different lenders based on their interest rates, processing fees, and loan terms after entering the details
Fill Out Application: Complete the simple application online and make sure you do not commit any mistakes. Give the details as per your ID proof and address proof
Submit Documents: Submit or upload the required documents, including identity, address, and income proofs. Give a clear copy of them. Do not send blurred images
Verification: The lender will review and verify the information provided.
Approval & Disbursal: When approved, you’ll receive the loan amount to your bank account within 2-3 days from the process

How to Improve Your Chances of Getting a Personal Loan with a ₹1,00,000 Salary?

Demonstrate your financial stability: Maintain a consistent credit history, pay bills on time, and keep your credit utilization low to prove that you are a prudent spender
Optimize your debt-to-income ratio: Prioritize paying off your earlier loans as soon as possible as banks hesitate to sanction loans for people who already have loans
Choose the right loan purpose: Take loan only when there is a solid reason to take one. For example, you may want to meet some sudden medical expenses or renovate your home or plan a vacation, define your goals and then search for loans accordingly
Compare loan parameters: Compare interest rates, fees, and repayment terms from multiple lenders in our loan aggregator online marketplace to find the most suitable personal loan

Why Fincover is the best choice to avail Personal Loan for a salary of 1 Lakh?

Transparent Process: The entire personal loan process from application to disbursal is transparent
Customer-Centric Approach: Our Customer centric approach ensures you get the best support from our agents to get the loan amount that you desired
Competitive Interest Rates: Get the best deal when it comes to interest rates and get the funds instantly credited to your account