Personal Loan Eligibility: Criteria and Salary-Based Calculator
Lenders decide personal loan eligibility on five things: your age, monthly income, credit (CIBIL) score, time in your current job or business, and your existing EMIs. ICICI Bank's eligibility guide describes the typical requirements as a salary of ₹20,000 or more a month, a CIBIL score of 700 or above, and an age of 20 to 58. Use the calculator below to estimate how much you could borrow.
Personal loan eligibility calculator
Estimate only. It assumes your EMIs together stay within 50% of take-home pay, a common rule of thumb; each lender sets its own limit and decides the final amount. This calculator does not check your credit report, so it has no effect on your CIBIL score.
Typical eligibility criteria
| Criterion | Salaried | Self-employed |
|---|---|---|
| Age | 20 to 58 years (at the end of the loan, usually up to 55–58) | Similar; varies by lender |
| Monthly income | ₹20,000+ (some lenders ₹25,000–₹30,000) | Steady income shown in bank statements and ITR |
| Credit (CIBIL) score | 700+ | 700+ |
| Stability | 3–6 months in current job (government: 6 months) | Business or practice running 2–3 years |
| Documents | Salary slips, bank statements, Form 16 or ITR | Latest ITR or GST returns, bank statements |
Typical figures from ICICI Bank's eligibility guide. Each lender sets its own criteria.
How much can you borrow on your salary?
With no other EMIs, at 12% a year, keeping your EMI within half of your take-home pay:
| Monthly take-home pay | EMI up to | Loan over 3 years | Loan over 5 years |
|---|---|---|---|
| ₹20,000 | ₹10,000 | ₹3,01,000 | ₹4,50,000 |
| ₹25,000 | ₹12,500 | ₹3,76,000 | ₹5,62,000 |
| ₹30,000 | ₹15,000 | ₹4,52,000 | ₹6,74,000 |
| ₹50,000 | ₹25,000 | ₹7,53,000 | ₹11,24,000 |
| ₹75,000 | ₹37,500 | ₹11,29,000 | ₹16,86,000 |
How to improve your chances
- Close or reduce existing EMIs before applying; every rupee of EMI you clear adds to what you can borrow.
- Check your credit report for mistakes and pay every card and EMI on time for a few months.
- Choose a longer tenure to lower the EMI, keeping in mind that you pay more interest overall (see the EMI calculator).
- Apply for what you need, not the maximum. A smaller loan is easier to approve.
- Have your documents ready: see the documents required for a personal loan.
Frequently asked questions
What is the minimum salary for a personal loan?
ICICI Bank's eligibility guide puts the typical minimum at ₹20,000 a month for salaried applicants, and notes that the requirement differs across lenders: some expect ₹25,000, or ₹30,000 for freshers and some private-sector employees.
How much personal loan can I get on a ₹25,000 salary?
If you have no other EMIs, roughly ₹3.8 lakh over 3 years or ₹5.6 lakh over 5 years at 12% a year, assuming your EMI stays within half of your take-home pay. The actual amount depends on the lender, your credit score and the rate offered.
What CIBIL score do I need for a personal loan?
Lenders typically look for a score of 700 or above, according to ICICI Bank's eligibility guide. With a lower score you may still find a lender, usually at a higher interest rate or for a smaller amount.
Can self-employed people get a personal loan?
Yes. Lenders typically want the business or practice to have been running for 2 to 3 years, a credit score of 700 or above, your latest ITR or GST returns, and bank statements showing steady income.
How long do I need to have been in my current job?
Typically 3 to 6 months for private-sector employees and 6 months for government employees, according to ICICI Bank's eligibility guide. Some lenders ask for more.
Does checking my eligibility here affect my credit score?
No. The calculator on this page only does arithmetic on the numbers you type. It does not access your credit report.