Personal loan by type
Personal Loan for Salaried Employees.
Salaried applicants get the highest FOIR cap and generally the fastest approvals — check your eligibility and EMI below.
Salaried eligibility
How much can I borrow?
Assumes 12% p.a. over 5 years for personal loan — adjust the loan type above to change these assumptions.
How this is calculated
Lenders in India typically cap your total EMIs (existing + new) at 45–50% of net monthly income (the Fixed Obligation to Income Ratio, or FOIR), and separately cap the loan amount itself as a multiple of your monthly income. Banks approve whichever of the two gives the lower amount. This is a planning estimate — actual approved amounts depend on your credit score, employer category, and the specific lender's policy.
- Principal amount
- ₹5,00,000
- Total interest
- ₹89,284
- Total amount
- ₹5,89,284
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,48,782 | ₹47,646 | ₹3,51,219 |
| 2 | ₹1,65,996 | ₹30,432 | ₹1,85,222 |
| 3 | ₹1,85,207 | ₹11,221 | ₹15 |
Frequently asked questions
How much of my income can go toward a personal loan EMI as a salaried employee?
Lenders typically cap total EMIs — existing plus new — at around 50% of your net monthly income (the Fixed Obligation to Income Ratio, or FOIR) for salaried applicants, a higher cap than self-employed applicants generally get, reflecting the predictability of a fixed salary.
Does my employer matter for personal loan approval?
Yes — lenders often categorize employers into tiers (government/PSU, large listed companies, mid-size private firms, smaller businesses), and applicants at higher-tier employers frequently get preferential rates and faster approval, since the lender views the income as more stable.
What documents do salaried applicants typically need?
Usually the last 3 months' salary slips, the last 6 months' bank statements, Form 16 or ITR for the last 1-2 years, and standard KYC (PAN, Aadhaar). Requirements vary by lender and loan amount.