Personal Loan on ₹40,000 Monthly Salary

Starting at Lowest Interest Rate

Easy Documentation | Fast Approval | 100% Online Process

Personal loans are unsecured loans that can be used for various purposes, such as medical emergencies, home renovation, debt consolidation, travel, education, etc. However, to avail a personal loan, you need to meet certain eligibility criteria, such as income, credit score, age, etc. In this article, we will discuss how much personal loan you can get on a 40000 salary in India.

How Much Personal Loan Can You Get on a 40000 Salary?

The maximum personal loan amount that you can get on a 40000 salary is approximately 8 lakhs. But when you apply for a personal loan it depends on your income, expenses, existing obligations and credit score. Generally, lenders offer up to 20 times your monthly income or consider 50% monthly salary to decide personal loan personal loan. You should always compare multiple lenders’ loan offers before selecting one.

Features & Benefits of Personal Loan for Salaried Person

Unsecured loan

Unsecured loan

Flexible loan amount

Flexible loan amount

Competitive Interest Rate

Competitive Interest Rate

Flexible Repayment Tenure

Flexible Repayment Tenure

Quick and Easy Approval

Quick and Easy Approval

Multipurpose Loan

A personal loan for a salaried person has many features and benefits that make it an attractive option for borrowing money. Some of them are:

  • Unsecured loan: no asset or property needed
  • Flexible loan amount: borrow as much as you need and eligible
  • Competitive interest rate: lower than credit cards or overdrafts
  • Flexible repayment tenure: repay in easy EMIs over 12 to 60 months
  • Quick and easy approval: apply online or offline and get money within hours or days
  • Multipurpose loan: use for any personal or professional purpose

Personal Loan EMI Calculator for ₹40000 Salary

You can use this calculator to find out the EMI for a personal loan on a 40000 salary. Just enter the loan amount, interest rate, and tenure, and click on the calculate button.

Interest Rates on Personal Loan on a ₹40000 Salary

The Interest rate for a personal loan on a 40000 salary may vary from lender to lender, depending on your credit profile, loan amount, and tenure. However, the average range of interest rate is between 10.49% to 24% p.a. The processing fees, tenure, loan amount, and prepayment/foreclosure charges may also different depending on the lender’s policy and your eligibility. Below is a detail that shows personal loan parameters for some of the popular lenders in India.


Interest Rate

Processing Fee


Loan Amount

Prepayment/Foreclosure Charge


10.49% – 21.50%

Up to 2.50%

12 to 60 months

50,000 to 40 lakhs

Up to 4%


10.99% – 22.00%

Up to 2.25%

12 to 60 months

50,000 to 25 lakhs

Up to 5%

Bajaj Finserv

12.99% – 16.00%

Up to 3.99%

12 to 60 months

1 lakh to 25 lakhs

Up to 4%

Axis Bank

12.00% – 24.00%

Up to 2.00%

12 to 60 months

50,000 to 15 lakhs

Up to 5%


9.60% – 15.65%

Up to 1.50%

12 to 72 months

25,000 to 20 lakhs

Up to 3%

₹40000 Salary Personal Loan EMI for Up to 5 Years

The EMI for a Instant personal loan on 40,000 salary depends on the loan amount, interest rate, and tenure. Assuming an average interest rate of 15% p.a. and a loan amount of 1 lakh rupees, the EMI for different tenures is as follows:

EMI for 1 lakh Rs. Up to 5 Years



1 year


2 years


3 years


4 years


5 years


Eligibility Criteria to Get a Personal Loan on a Salary of Up to ₹40,000

To be eligible for a Instant personal loan on 40,000 salary, you need to meet the following criteria:






Credit Score

Eligibility criteria for 40000 Salary personal loan are:

  • Salaried employee of a reputed organization
  • Minimum 1 year work experience
  • 21-60 years old
  • Credit score of 650 or above
  • Monthly income of 40,000
  • Debt-to-income ratio of 50%
  • Stable residential and employment history

ChecK Your Cibil Score in Free.

Document Required for ₹40,000 Salary Personal Loan

Qualifying for our Personal Loan is easy. You don’t have to meet a long list of eligibility criteria to get loan approval. This makes the loan easy to avail and process, thus reducing delays that could affect disbursal.

Identity proof

Identity proof

Address proof

Address proof



Income proof

Income proof

Bank statement

Bank statement

Document require for 40000 salary personal loan are:

  • Identity proof: Aadhaar card, PAN card, passport, voter ID, driving license, etc.
  • Address proof: Aadhaar card, passport, utility bills, rent agreement, etc.
  • Income proof: Salary slips for the last 3 months, bank statements for the last 6 months, Form 16, IT returns, etc.
  • Loan application form: Filled and signed by the applicant, with a passport-sized photograph.

How to Apply for personal loan on 40000 Salary

To apply for a Instant personal loan on 40000 salary online, you can follow these steps:

  • Visit the website of the lender of your choice, and click on the personal loan option.
  • Fill in the basic details such as your name, mobile number, email ID, loan amount, tenure, etc., and check your eligibility and interest rate.
  • If you are eligible, you will receive an instant approval and a loan offer from the lender.
  • Accept the loan offer and upload the required documents for verification.
  • Once the documents are verified, the lender will disburse the loan amount to your bank account within 24 hours.


A personal loan can be a great option to meet your financial needs, especially if you have a stable income and a good credit history. However, before applying for a Instant personal loan, you should compare the interest rates, fees, and features of different lenders and choose the one that suits your requirements and budget. You should also plan your repayment well and avoid defaulting on your EMIs. A personal loan can help you achieve your goals and dreams, but only if you use it wisely and responsibly.


Yes, you can get a personal loan on 40000 salary. It depends on your credit score, EMI/NMI ratio, etc. Use the eligibility calculator.

There is no fixed salary for a 20 lakh personal loan. It depends on your EMI/NMI ratio, credit score etc. Generally, your EMI should be less than 50% of your income. But approx. 90k monthly salary is best for a 20 lakh personal loan.

The eligibility criteria for 40000 loan are:

  • Age: 21-60 years
  • Income: Rs above 40,000
  • Employment: Salaried with 1-3 year experience
  • Credit score: 650-750

The loan amount on a 45000 salary depends on your credit score, EMI/NMI ratio, etc. Generally, you can get up to 30 times your income. Use the loan calculator.

You cannot copy content of this page

Take The First step Towards Your Goals: Apply for a Personal Loan

✅Minimum Documents    ✅No Collateral     ✅Instant Disbursal