- 3 Aug 2025
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A ₹60,000 monthly salary positions you well in terms of personal loan eligibility, but your borrowing capacity still depends on more than just your income. Wondering how much personal loan you can get on a ₹60,000 salary? You’re in the right place. This blog will guide you through the loan approval process, explain what lenders (Banks and NBFCs) evaluate, and help you understand the approximate loan amount you may qualify for with a ₹60,000 monthly income.
To decide how much personal loan you can get, lenders often use a multiplier method on your monthly income.
Here are the calculations of the maximum loan amount you can get if your salary is ₹60,000. We have used multiple methods lenders use to calculate the eligible loan amount for you, based on your income.
If your monthly salary is ₹60,000 and the lender allows 10 to 20 times the loan amount to be equal to the salary, depending on the policy.
Suppose your salary is ₹60,000, you are paying an EMI of ₹12,000, and the EMI of the new loan will be ₹18,000. So, your total debt-to-income ratio would be 50%. You can have a loan amount for which the EMI amount of all the loans should not exceed 50% of your debt-to-income ratio.
Note: The actual loan amount varies based on credit history, employer profile, existing debts, and the lender’s policy.
Also read: Personal Loan Myths
Formula to Calculate Loan Amount: Loan Amount = Net Salary × Loan Multiplier.
Example Calculation:
It is recommended to use an online loan eligibility calculator to estimate the loan amount based on your income and financial obligations.
A ₹60,000 monthly income puts you in a favourable bracket for personal loan approvals. Lenders assess factors like your financial discipline, creditworthiness, and repayment history. With the right lender, you can take a higher loan amount without the burden of complex paperwork. DMI Finance offers personal loans to salaried and self-employed individuals earning a minimum of ₹25,000 per month. If you’re earning ₹60,000, you’re well-positioned to receive a loan that matches your goals. Click here to apply.
1. Can I get a personal loan with a salary of ₹60,000 per month?
Mostly lenders offer personal loans to individuals earning ₹60,000 per month, provided they meet other eligibility criteria such as a good credit score and stable employment. DMI Finance offers personal loans to individuals with a minimum monthly income of ₹25,000.
2. What is the maximum personal loan amount I can get on a ₹60,000 salary?
The loan amount depends on your income, credit score, existing EMIs, and lender policies. Generally, you may be eligible for a personal loan ranging from ₹50,000 to ₹6 lakhs.
3. What should be my credit score to get a personal loan on a ₹60,000 salary?
Lenders generally prefer a credit score of 750 and above. A higher score can help you get a bigger loan amount and better interest rates. DMI Finance offers personal loans to individuals with a minimum credit score of 700.
4. How is my loan eligibility calculated on a ₹60,000 salary?
Lenders usually calculate eligibility based on your repayment capacity and debt-to-income ratio. Other influential factors are credit score, employment stability, etc.
5. Can I improve my loan eligibility for a higher loan amount?
Yes, you can improve your eligibility for a higher loan amount by:
6. Can I get a personal loan without collateral on a ₹60,000 salary?
Yes, personal loans are typically unsecured, which means you don’t need to provide any collateral. DMI Finance offers personal loans without collateral.
7. Which lenders offer personal loans to ₹60,000 salary earners?
Lenders like DMI Finance offer personal loans to eligible applicants with a minimum monthly income of ₹25,000, subject to credit and documentation checks.
8. What should be my ideal EMI if my salary is ₹60,000?
Most lenders recommend that your total EMI should not exceed 50–60% of your monthly income. Therefore, all your EMIs should not be more than ₹30,000.
9. How fast can I get a personal loan on a ₹60,000 salary?
With NBFCs like DMI Finance, you can get personal loans with minimal paperwork and quick disbursal, often within 24 to 72 hours of approval.
10. Can I combine my salary with my spouse’s income to get a higher loan?
Many lenders allow you to apply for a personal loan with a co-applicant (such as your spouse, parent, or sibling) to increase eligibility for the total loan amount.