As a general rule, some lenders might offer personal loans up to 1-2 times your monthly salary, while others might offer more or less depending on their policies and your financial profile. For instance, with a salary of 35,000, you might be eligible for a personal loan ranging from 35,000 to potentially 70,000 or more, but this is not a guarantee as it varies between lenders and individual circumstances.
- Lender’s Criteria: Different lenders have varying criteria for issuing personal loans. Some may offer loans up to a certain multiple of your salary (e.g., 1-2 times your annual income), while others might have different considerations.
- Credit Score: Your credit history and score play a significant role. A higher credit score often leads to better loan offers and larger loan amounts.
- Existing Financial Obligations: If you have other loans or debts, lenders might offer a smaller loan amount considering your existing financial commitments.
- Employment Stability: Some lenders consider the stability of your job and employment history as a factor in loan approvals.
- Other Factors: Your expenses, the purpose of the loan, and the loan tenure can also influence the loan amount.
Typically, with a salary of 35,000, you might be eligible for a loan amount ranging from a few multiples of your monthly salary to potentially higher amounts, such as 35,000 to 70,000 or more. However, this can significantly vary based on the factors mentioned above.
To get an accurate estimate, it’s advisable to directly approach banks or lending institutions. They can assess your specific situation considering the factors mentioned and provide tailored information on the loan amount you might qualify for.