If you earn ₹15,000 per month, you may want to know if you may get a personal loan. The answer is yes. Most banks and NBFCs in India understand the needs of low-income individuals and offer small-ticket personal loans with minimal documentation. Let's see your options if you're looking personal loan for ₹15,000 salary.
Can You Take a Personal Loan on ₹15,000 Salary?
Yes, you can. Although a ₹15,000 salary does not seem high, some banks still find you eligible depending on things such as:
- Your type of employment (salaried or self-employed)
- Credit score
- Current financial liabilities
Banks generally provide small loans, between ₹25,000 and ₹1 lakh, for people who have a salary of ₹15,000 per month.
Which Bank Provides Personal Loan for ₹15,000 Salary?
Here are some banks and NBFCs where you can apply:
1. IndiaLends
Loan amount: ₹25,000 to ₹2 lakhs
Eligibility: Salaried employees with ₹15,000 monthly salary
Interest rate: From 10.75%
2. Home Credit
Loan amount: ₹10,000 to ₹2 lakhs
Minimal documentation
Flexible EMI options
3. EarlySalary (Fibe)
Specializes in providing short-term personal loans for salaried low-income individuals.
No collateral required.
4. My Mudra Fincorp Ltd.
Provides instant personal loans for ₹15k salary earners.
App-based application with quick approval.
If you are curious about which bank offers a loan for ₹15,000 salary, these fintech websites and small finance banks are more accommodating than the conventional ones such as SBI or HDFC, which normally need a higher minimum salary.
Features of 15k Salary Personal Loan
Loan tenure: 3 months to 3 years
- EMI: Begins as low as ₹1,000/month based on the loan amount
- Quick approval: Numerous lenders give disbursal within 24-48 hours
- No security: Fully unsecured
Tips to Enhance Eligibility
- Keep good credit score (650+)
- Restrict existing loans/EMIs
- Offer stable job proof with salary slips
- Utilize co-applicants if possible to enhance approval possibilities
Conclusion
Finding a fast approval personal loan for ₹15,000 salary is doable if you know where to look. Look for lenders who specialize in small-ticket loans and understand your financial situation. Always compare financing rates, processing fees, and EMI options before applying.