How Much Personal Loan Can I Get On 60000 Salary
Last updated: Jan 27, 2021, 01:26 AM ISTEarning a sum of 60000 every month is a good figure to apply for personal loan. You can expect a quick loan approval with 60000 salary as the expectancy of timely repayment is high. Besides the range of salary, approval of loan amount depends on factors like age, income, monthly expenses, income stability, credit score and credit history. Pay your EMIs on time to improve credit history and to negotiate with financial companies, get a high loan amount, irrespective of the salary limit whether 20000, 30000 or 60000.
Maximum loan amount sanctioned depends upon the emergency situation and nature of work. However, for quick loan sanction and disbursal borrowers can opt for small cash loans ranging from Rs.10,000 to 1.5 lakhs. Instant loan up to Rs.1,50,000/- is a short-term loan amount and can be availed effortlessly with a salary of Rs. 60,000 through instant loan apps and websites.
Based on your monthly salary criteria, many financial institutions offer easy to apply personal loan with minimal documentation. Right from loan application approval, all the processes are digital and on the go in your mobile phone app.
Eligibility Criteria for availing instant loan with a salary of 60,000
- Must be a citizen of India
- Age limit must be 21-58 years’ old
- Must be stable in professionally in a job or business
- Must earn a minimum income of Rs. 15,000 per month
- Six months’ bank statement of salary account for salaried and 6 months’ bank statement with most transactions for self-employed
- Decent credit score
The online hassle-free documentation reduces the stress of physical loan application. Submission of mandatory documents for an instant loan up to 1.5 lakh requires:
- Aadhar card is the first document when applying for instant personal loan
- In the absence of Aadhar card, you can provide your Pan card/ driving license
- Other important documents include your professional and financial details inclusive of salary slips and income statements
- Your account should be in any of the accepted banks as suggested by the financial institution
The in-built loan EMI calculator in the Simply Cash app allows borrowers with different salariesto set a suitable EMI that is not a burden to repay every month. Factors like loan amount, interest rate and tenure are the basic factors that can be flexibly moved in the calculator to derive a desirable EMI.
Borrowers earning lower or higher than Rs. 60,000 can also download Simply Cash, explore the benefits and fix your urgent cash requirements timely. No collateral is required as instant loans are unsecured loans and require no guarantee.