How much personal loan can i get on 30000 salary?

Are you a salaried professional earning ₹30,000 per month and contemplating the personal loan amount you can avail? If you’re asking, “how much personal loan can I get on a ₹30,000 salary?” or “my salary is ₹30,000, how much personal loan can I get?” then this blog is designed for you. We aim to demystify the complexities of loan eligibility and guide you on how to maximize your borrowing potential.

Understanding the Core of Loan Eligibility:

Before we dive into the specifics, it’s crucial to understand that your loan eligibility is not solely determined by your salary. It’s a combination of various factors, including your credit score, existing financial obligations, and the lending policies of the financial institution. Lenders like Finnable assess your repayment capacity before sanctioning a loan, and this is where your salary becomes a key factor.

Typically, lenders cap the EMI (Equated Monthly Installment) of your loan to about 50% of your monthly income. This means if you’re earning ₹30,000 per month, your EMI should ideally not exceed ₹15,000. This cap ensures that you have sufficient funds to manage your daily expenses and other financial commitments without straining your budget.

Estimating Your Loan Amount:

Now, let’s address the primary question, “how much personal loan can I get on a ₹30,000 salary?” Given the EMI cap, if you opt for a loan tenure of 5 years at an interest rate of 10.5% per annum (the starting rate at Finnable), you could potentially get a loan of around ₹6.5 lakhs.

However, remember that this is a rough estimate. The exact loan amount can vary based on your credit score, the lender’s policies, and other factors like your age, job stability, and more.

Leveraging Finnable for Your Loan Needs:

Finnable, a registered NBFC with the Reserve Bank of India, offers a seamless, paperless, and quick loan process. With competitive interest rates starting at 10.5% per annum and loans up to ₹10 lakhs, Finnable is an excellent option for salaried professionals seeking instant personal loans.

The online process eliminates the need for physical presence, making it convenient for borrowers across India. However, it’s important to note that Finnable’s services may not be available in all states, and a credit check is required as part of the loan approval process.

Strategies to Enhance Your Loan Eligibility:

If you’re wondering “how much loan can I get if my salary is ₹30,000?” here are a few strategies to improve your loan eligibility:

  1. Maintain a Robust Credit Score: A high credit score can increase your loan eligibility and get you better interest rates. Regularly check your credit report and work towards improving your score. Pay your bills on time, avoid maxing out your credit cards, and don’t apply for too much credit at once.
  2. Limit Your Existing Debts: Having multiple loans can affect your loan eligibility. Try to limit your existing debts before applying for a new loan. Lenders consider your debt-to-income ratio, which is the percentage of your monthly income that goes towards paying existing debts. A lower ratio can increase your loan eligibility.
  3. Opt for a Longer Tenure: Choosing a longer tenure can reduce your EMI, making it easier to manage your loan repayment. However, keep in mind that a longer tenure also means you’ll be paying more interest over time.
  4. Avoid Late Payments: Late payments may incur additional charges and negatively impact your credit score. Ensure timely payments to maintain a good credit history. Setting up automatic payments can help avoid missed or late payments.
  1. Stable Employment: Lenders prefer borrowers with a stable employment history. If you’ve been in the same job for a few years, it indicates to lenders that you have a stable income, which can increase your loan eligibility.
  2. Co-applicant or Guarantor: If your income is not sufficient to get the desired loan amount, consider adding a co-applicant or guarantor. Their income will be considered, which can increase your loan eligibility.


While the question “how much personal loan can I get on a ₹30,000 salary?” depends on various factors, understanding these factors can help you maximize your loan potential. Remember to compare rates and terms from different lenders like Finnable and use a loan calculator to estimate your monthly payments. With careful planning and financial discipline, you can successfully navigate the personal loan landscape and meet your financial goals.

Fees and Charges: Just like credit card issuers may impose transaction fees or processing charges for using the card to pay loan EMIs, lenders may also have certain charges associated with the loan. It is crucial to review the terms and conditions of the loan and understand any associated fees before making a commitment. 

Financial Discipline: Managing a personal loan requires financial discipline. It is important to avoid unnecessary spending and to ensure timely payment of your EMIs to prevent accumulating high interest charges and penalties that may be difficult to repay. 

In conclusion, securing a personal loan as a salaried professional earning ₹30,000 per month is a feasible task, provided you understand the factors influencing your loan eligibility and follow the strategies to enhance it. Finnable, with its competitive interest rates and quick loan process, can be a reliable partner in your financial journey. However, always remember to compare rates and terms from different lenders and make an informed decision.

Amit Arora


I am a seasoned retail banker with over 21 years of global experience across business, risk and digital. In my last assignment as Global Head Digital Capabilities, I drove the largest change initiative in the bank to deliver the end-to-end digital program with over US$1 billion in planned investment. Prior to that, as COO for Group Retail Products & Digital, I implemented a risk management framework for retail banking across the group.
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