How Much Personal Loan Can I Avail on My Salary in Delhi NCR?

As we all know, a personal loan is the most straightforward method to avail funds. A personal loan is an unsecured type of loan means you can avail funds without pledging any collateral. And there are lots of NBFC’s in Delhi who offer a personal loan in Delhi without a CIBIL check

You can easily apply for a personal loan online but getting it approved is challenging. How much you will get is decided on numerous factors. But your credit score and your salary are the most critical factors. 

Because credit score shows your repayment history, and your salary indicates your repayment capacity. 

Your salary is considered a substantial personal loan approval factor because

  • Higher your income, the more your borrowing scope. 
  • You will be flexible with loan tenure. 
  • If your cibil is higher, you can get a loan with low-interest rates. 

With salary, banks and financial institutions also consider whether you availed a loan from another bank or financial institution. 

How Much Personal Loan Vintage Finance Approve on My Salary?

At vintage finance, we offer personal loans up to 15 Lakh for salaried individuals. There isn’t a standard parameter to judge the suitability of providing a loan amount. Lenders check your credit history and whether you are paying loan EMI’s besides applied loan. 

Lenders check repayment capacity, and if the applicant is eligible for a personal loan, then the lender can offer up to 20 to 30 times amount on the applicant’s monthly income. 

Lenders keep your EMI’s 40 to 60% of your monthly income to reduce the chance of default. This means if your salary is 40,000, then your EMI would not exide 20,000, which is 50% of your monthly income. 

Generally, lenders check your repayment ability, Your CIBIL Score, Your current loan EMI, Your previous default, etc. before offering you a loan. If you are looking for a personal loan in Delhi, Contact us today and get some great offers on personal, property, and bike loans. 

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