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In 2025, rising living costs and increased digital credit adoption mean more people are exploring personal loans as their go-to option for funding.
When it comes to determining personal loan eligibility, lenders look beyond your monthly income. They use smart models that analyse your salary, spending behaviour, credit history, and even your digital transaction records.
However, your monthly salary continues to remain an important factor, especially in metro cities like Mumbai and Delhi where the living costs are already high.
How do banks calculate personal loan based on salary?
The exact amount of an instant personal loan you are eligible for depends on your income and expenses. Banks mainly use two methods, called the multiplier method and the Fixed Obligation Income Ratio, to calculate how much credit you can get.
In the multiplier method, the bank multiplies your monthly income by 27 and approves the amount for a tenure of 60 months. If you have any other financial obligations, that amount will be deducted from your monthly income and then multiplied by 27.
In the Fixed Obligation Income Ratio method, the amount that you are eligible for changes with your financial obligations. The bank examines your account statements, creditworthiness, running EMI, and determines any monthly expenses that you might have before deciding on the amount you are eligible for.
How much personal loan can I get?
It’s quite common to wonder how much personal loan you can get, given your salary. The bank considers several factors before deciding the approved amount. A regular income and a good credit score can help you obtain higher loan amounts at lower interest rates. For instance, if you have a CIBIL score of 710 or above and earn a stable income, you can apply for IDFC FIRST Bank’s FIRSTmoney loan and get an approved loan offer of up to ₹10 lakhs at an affordable interest rate starting at just 9.99%. This loan offer permits you to apply for additional on-demand loans, depending on your specific financial requirements.
Additionally, you can choose from flexible tenures ranging from 9 months to 60 months to repay your dues. Also, you bear no charges on foreclosing your FIRSTmoney personal loan. The completely online application requires only your Aadhaar card number. You ‘ll need to display your physical PAN to complete the V-KYC (Video KYC) process.
Personal loan based on your salary in 2025
Wondering how much personal loan you can avail? The following table highlights how your bank might calculate the loan amount you are eligible for -
Monthly Salary |
Loan via Multiplier Method |
Loan via FOIR Method, for various EMI obligations (Existing EMIs) |
Suitable Tenure |
₹20,000 |
₹5.40 lakhs |
₹4.08L (₹3,000 EMI) |
Up to 5 years |
₹25,000 |
₹6.75 lakhs |
₹5.89L (₹3,000 EMI) |
Up to 5 years |
₹30,000 |
₹8.10 lakhs |
₹7.70L (₹3,000 EMI) |
Up to 5 years |
₹40,000 |
₹13.50 lakhs |
₹8.80L (₹3,000 EMI) |
Up to 5 years |
₹50,000 |
₹16.20 lakhs |
₹11.28L (₹3,000 EMI) |
Up to 5 years |
₹60,000 |
₹19.44 lakhs |
₹13.54L (₹3,000 EMI) |
Up to 5 years |
₹70,000 |
₹22.68 lakhs |
₹15.80L (₹3,000 EMI) |
Up to 5 years |
₹80,000 |
₹25.92 lakhs |
₹18.06L (₹3,000 EMI) |
Up to 5 years |
₹90,000 |
₹29.16 lakhs |
₹20.32L (₹3,000 EMI) |
Up to 5 years |
₹1,00,000 |
₹32.40 lakhs |
₹22.58L (₹3,000 EMI) |
Up to 5 years |
The amount of personal loan you are eligible for depends on your income and expenses. Banks mainly use two methods, called the Multiplier method and the Fixed Obligation Income Ratio, to calculate how much credit you can get.
What if my salary is low?
Having a lower salary does not automatically disqualify you from getting a personal loan. However, it may impact the loan amount you're eligible for. Your repayment capacity will be assessed based on income, existing EMIs, and credit score. If your salary is low, you can improve your chances by opting for a smaller loan amount, extending the tenure, or applying with a co-applicant. A good credit history and stable employment also strengthen your profile. Financial institutions like IDFC FIRST Bank offer tailored solutions for salaried as well as self-employed individuals, making it possible to access credit even with modest incomes.
What affects my personal loan amount?
Several factors influence the amount you can borrow through a personal loan. Economic factors like the rate of inflation, the Reserve Bank of India’s lending policies, and changes in the repo rate play a significant role in determining your overall loan amount, including your monthly EMIs. While these conditions are beyond your control, there are certain micro or individual factors that you can work on to potentially improve your loan eligibility:
- Credit score: A higher credit score indicates reliable repayment behaviour, increasing loan eligibility.
- Income level: Steady and sufficient income assures lenders of your repayment capacity.
- Existing financial obligations: A high debt-to-income ratio may limit the loan amount you qualify for.
- Loan tenure: Longer repayment periods can lead to higher loan amounts but may also result in increased interest costs.
Ready to apply for a personal loan?
Applying for a personal loan in 2025 is easier than ever. You can digitally apply for a personal loan on your own terms – enjoying the convenience of a hassle-free, swift disbursal. With IDFC FIRST Bank, you can apply for FIRSTmoney, the entire loan process is paperless, requiring only your Aadhaar card number and displaying your PAN card to complete the video KYC process.
Steps to apply for IDFC FIRST Bank personal loan:
- Click on Apply Now
- Register with your mobile number
- Confirm basic details to check eligibility
- Choose loan preferences and link your bank account
- Complete Video KYC by displaying your PAN card to get disbursal
Do note that the figures mentioned in the table above are subjective and can vary depending on multiple factors. Check with the bank about the loan amount you are eligible for before applying for a personal loan. You can easily get a personal loan via the IDFC FIRST Bank app or website. To help you in the application process, IDFC FIRST Bank customer support is available on 1800 10 888. The process is hassle-free and gives you the freedom to decide your tenure. Lastly, if you are not sure about the loan amount you need, applying for a FIRSTmoney loan can be beneficial since you get multiple on-demand loans from your approved loan offer without any restrictions and repay your dues anytime with zero foreclosure charges!
Frequently Asked Questions
Lenders estimate how much you can afford each month and work back to a loan size. They look at net monthly income, existing EMIs, credit score, employment stability, and the chosen tenure. Many use a fixed obligation to income ratio to keep total EMIs within a set share of take-home pay. They also consider employer category, city, and age. Cleaner bank statements and fewer recent enquiries can support eligibility.
For a ₹30,000 monthly income, the typical maximum eligibility is about ₹8.10 lakh for a tenure up to 5 years with no other EMIs. If you already have EMIs, the indicative eligibility is: ₹7.70 lakh (₹3,000 EMI), ₹6.00 lakh (₹5,000 EMI), ₹5.50 lakh (₹8,000 EMI), or ₹4.80 lakh (₹10,000 EMI). Final offer depends your credit profile and lender policy. Use this personal loan eligibility calculator to get an indicative loan amount you are eligible for.
A stronger CIBIL score usually helps with higher eligibility and better pricing, yet it is one part of the decision. Lenders also weigh net income, existing EMIs, repayment history, employment stability, and recent enquiries. Two applicants with similar salaries can receive different offers if their credit profiles differ. Keep credit utilisation low, pay credit card dues and EMIs on time, and avoid back-to-back credit applications. Check credit reports for errors and correct them before applying anywhere.
Adding a co applicant can raise eligibility where the product permits joint applications and both incomes are verifiable. Lenders evaluate each profile’s credit score, obligations, and stability, then combine eligible incomes within policy limits. Documentation must support both applicants, including KYC, statements, and income proofs. Consider that joint liability applies for the loan. Check whether the lender allows co applicants for personal loans and what documentation they require for assessment.
You can explore personal loan eligibility calculator by IDFC FIRST Bank. These tools let you enter salary, existing EMIs, desired tenure, and an assumed rate to see an indicative range. Results are estimates since assessment considers many factors. Use the calculator to test comfortable EMIs and tenures.
No, in the case of FIRSTmoney personal loan the calculation is similar to salaried profiles. It takes into consideration your credit profile, credit history and eligibility.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.